Buying property still, remains one of the more popular ways people like to invest their money but increasing property prices have made it impossible to buy a flat in the affordable range, but have the investors run out of options? Whether you are looking for owning a home or for investment purposes according to the current market situation, 1 BHK flats are viewed as a good investment choice. For an average buyer, they cannot afford to buy a lavish house which is why most people who are just starting to invest their money or buying their first flat choose to buy 1 BHK home. Even though these types of residences are small in size, there is no compromise in the luxury quotient, amenities, and other necessary facilities.
1 BHK flats are space-efficient and can be made quicker by developers to meet up with the rising demand from the consumers for real estate. If a project has a range of flats to change from ranging from 1 BHK to multiple BHK it is more likely that the 1 BHK flats in the project get sold quicker than others which makes more sense when you consider the younger population buying a house is growing as well.
1 BHK flats make a lot more sense in cities like Mumbai because of the high exorbitant rates that the consumers would be paying to buy houses with multiple bedrooms. 1 BHK flats have come as a perfect relief for consumers who are looking to invest in a real estate property for the first time to either use or even make money from it. Let us look into 4 benefits of investing your money in 1 BHK apartment in cities.
- Easy on pockets of young people:
Most of the MNCs and industrial sectors offer jobs to the employees in prime cities or people flock to locations that offer good employment opportunities, hence for this set of people, 1 BHK flats are the best option. These people are young and don’t have deep pockets for them to splurge on a lavish house so they find the perfect home for themselves in 1 BHK apartments. Some people who just got to the city also prefer renting over buying and if you already have a 1 BHK apartment it would make a lucrative option for you to put your house on rent and make some money from it. You could even target students who have come to the city to pursue a better education. They generally look for homes that are affordable as they would be dwelling only till, they complete their course, so instead of buying or opting for high rental options, they prefer 1 BHK apartments that match their pockets.
- Taking up smaller home loans:
Investing in 1 BHK apartment requires you to fork off less of your cash making it more desirable for people who want to get into real estate without breaking their banks. This helps people forego the loan process completely or if they are not able to meet the asking, they could take up minimal loans to become owners of a property. If you are an investor this comes as big news for you because you could start making money off the property without having to worry about loans. Even minimal loans warrant a much lower interest rate making even the loan EMIs pocket friendly. This means the loans are easily paid and the amount you saved could be used for bigger things later down the line.
- Helps you stay debt-free:
The larger the apartment you buy it becomes more likely for you to not be able to afford the payments of the house taking a larger amount of loans which could drive you into debt. An average middle-class human is not able to afford huge houses which is why most of them rely on loans at high-interest rates to have a house to live in. This makes the property-owning experience riskier for people who dive into these methods to fund their housing. This makes 1 BHK flat a much better bargain especially given the risks of bigger loans.
- Get a flat in upmarket locations:
Usually, 1 BHK apartments are easily available in prime locations of any city, hence with affordable rates, you can also take advantage of facilities like proximity to educational institutes, shopping malls, entertainment zones, commercial spaces, recreational areas, etc. a prime location comes with other advantages like easy to travel to and from work or educational institution, better safety and an overall better social image for having a house in an upmarket area.
Given the reasons, it makes sense for first-time buyers to buy 1 BHK flats. As the realty market is quite expensive for the not-so-rich buyers, developers are offering flats in suburbs like Thane at affordable rates. Some of the prominent builders in this region are vying to offer futuristic projects to buyers willing to invest in 1 BHK flats in Thane. They also have a better return on investment especially in the market that is fluctuating wildly now.
