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It takes considerable knowledge to understand the extent of one’s ignorance.” So goes an impactful saying that reflects human tendency to approach the unknown with doubt and trepidation.
Today's personal finance or investment scenario is a great example of how knowledge or rather the lack of knowledge can influence our decision-making process.
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The first thing that comes to your mind when you think about investment instruments like fixed deposits, provident funds, equities and stocks, mutual funds is an overriding principle.
The principle is a product of continuous messages that come our way through ‘advisors’ be it family and friends, colleagues, financial media and the internet.
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What are your thoughts when someone mentions land as an investment instrument? Chances are that it is not the most positive of reflections.
Does ignorance play a major factor in this perception? We will make an attempt to dispense some myths about investing in land and inform readers of the best practices to adopt and pitfalls to avoid when it comes to reinforcing your investment portfolio with land as an asset class.
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Let’s take the example of Ebuka, who wants to invest money to satisfy long-term goals in solid investment assets which will combine great returns with lower risk.
While real estate will crop up as a possible option, there are various factors which make it seem unattractive. The volume of investment required to purchase a flat or a weekend home is too high.
It didn’t take me long to come up with some good reasons to invest in land. I also called on a close friend who also has a few plots of vacant land to see what he had to say.
It’s a Limited Resource
Nobody is making any more land. Unlike products that come from the factory there’s a finite amount of land. This one reason makes land insanely attractive to me.
Workforce and labour
If you are planning to build a house or commercial property on the land or sell it to a developer, keep in mind the potential for employment prospects.
If the plot is near a developed segment, the employment options will be aplenty.
•Public transport and amenities
If you are planning to develop estate on the land, it’s better to search for amenities like public transport, water supply, hospitals etc.
•Scope of growth
Always invest in land where you see possibility of growth and development. This judgement will be easier if you thoroughly research your options.
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