Buying a property and that too your own house is one of the biggest investments of one’s lifetime. In todays’ time, the real estate industry has come up with different housing concepts like bungalows, 1-2-3 BHK apartments, penthouses and studio apartments. While a first time buyer may not afford a big house, investing in one BHK apartment is also a beneficial in various ways.
Even the current market situation speaks about the same scenario. Take example of metros and other high posh localities where big residential properties falls in an unaffordable range, the focus now is shifting to one BHK apartments. Even if they are small in area, still they didn’t compromise with basic amenities and other necessary facilities.
According to a recent survey, among all the housing concepts, studios as well as one BHK apartments are the first one to be sold out. That’s why real estate developers are focusing more on such properties.
So let’s take a look at some of the benefits of investing in one BHK apartments:
Good Location. For those who want to buy a flat in a prime location, one BHK apartments are easily available in affordable rates. One can also take advantage of facilities like proximity to educational institutes, shopping malls, entertainment zones, commercial spaces and recreational area.
Easy availability of home loans. Investing in 1 BHK apartments means low budget investment. So an average income person can easily get the loan from banks with low cost EMI’s and interest rates. Also, the loan amount can be easily repaid.
Easily affordable. If you are a newlywed couple or a buyer who has just started his professional career, then these apartments are the best investment options. The cost of a 1BHK house is much lesser than other property types such as 2 or 3BHK houses. Also if you plan to rent it out, then you can get good rental returns from such apartments.
Property tax and maintenance cost. Since 1BHK apartment is a small residential unit, you don’t have to pay high property tax. Also, the maintenance cost for this type of apartment is very less. This will help you in saving a lot of money.
No debts. Large apartment means big loans and risks of debts. It is mostly seen that not everyone is able to pay such huge amounts of loan and hence become debt-ridden. Even the ownership of the property is under risk. Therefore Investing in a smaller apartment will save a person from all such chaotic situations.
In fact in cities with high cost of living like Bengaluru and Mumbai, one BHK apartment are not only good investment choice but are also guaranteed with good returns even in fluctuating real estate market conditions.