The exponential growth of India’s real estate industry is not only highly evident, but also a by-product of the expansion of its metropolitan cities. As the population grows, so does the demand for quality housing. With this ever- increasing demand comes the skyrocketing prices for land and housing alike. With more and more people being unable to afford the extravagant property prices for family homes, metro cities have seen a rising demand for smaller spaces. Developers have chosen to capitalise on this need and we have witnessed a plethora of 1bhks or studio apartments in all localities of Bangalore.
Young working professionals and students find studio apartments or 1bhk highly convenient in more ways than one. They do not require as much maintenance and encourage a minimalistic way of living. Overall, this translates into less costs, but that’s not the only advantage of smaller homes.
Here’s why a 1BHK makes for a good investment:
Real estate investments are highly lucrative and provide high rate of return. By investing in a 1BHK early on in your career, you can have a rock-solid asset in your investment portfolio. This will enable you to enter the real estate market without burning a hole in your pocket. In the future, as your family grows you can then invest in a bigger home.
Directing rental costs into EMIs for your new home is definitely a sound decision, even if it increases your expenditure by a bit. This way, your monthly rental expense can be looked at as an investment which will provide sound returns in the future. Even if you move to a bigger home later on, this investment would provide returns in the form of subsequent rent or value appreciation should you choose to sell it.
It is becoming increasingly difficult for bachelors to get a rental home in any of the standard gated societies. Even then, this comes at an increased cost as the landlords tend to rent out space per room to increase their income. Thus, a single person would end sharing a 3 BHK with two other people- which means shared common areas. Not only that, but in such scenarios, landlords also impose a lot of rules. If you like your privacy and living on your own terms, then investing in a 1BHK is the way to go.
1BHKs are becoming increasing popular amongst the young and single office crowd as well as students. Student housing has proven to be extremely lucrative for investors. So even if you don’t wish to buy a 1BHK for yourself, it would be a sound decision to invest in one. It is sure to bring rental income for lesser investment.
Hassle Free Replacements
Even if your tenant decides to move out- it is easy to find another renter as Bangalore is filled with young working professionals who are constantly on the lookout for quality homes with convenient features. It would be a good idea to invest in areas neighbouring the IT corridor, or popular colleges to ensure a constant stream of demand for your investment.
Maintenance and property tax
Another plus point of 1 BHKs is that they require minimal maintenance, and whether you’re currently occupying the place or renting it out- it means lesser costs. The property tax of 1BHKs is comparatively lesser than that of bigger properties so you can be sure that investing in a 1BHK won’t burn a hole in your pocket in the coming years.
Getting a home loan for a 1bhk is much easier than acquiring the same for a bigger property as the amount is more likely to be proportionate to your salary. Smaller down payment means you won’t have to liquidate your existing investments and savings. Lastly, economical EMIs make sure it doesn’t heavily burden your monthly expenses. It’s a win-win-win situation.
Ease of repayments coupled with peace of mind- who could ask for more? Log on to Zaasna and browse through the properties. Happy home buying!