In recent years, residential real estate in India has observed unmatched growth owing to revised Government policies and multiple home loan facilities. More and more people can afford to buy their dream home. However, when it comes to buying an apartment, home buyers get confused between what kind of apartment to purchase.
Although 2BHK-3BHK apartments might be expensive, they are a safe & stable investment. If you are looking to buy a 2/3BHK Apartment in Bangalore, you should have a fair idea about the factors that govern the price of per unit. The price of apartments are dependent on area, location and property developer. Moreover, there is not much difference in price between a 2BHK and a 3 BHK, so it is always advisable to invest in a 3BHK for a little extra room.
Let’s take a look at the top 5 reasons why investing in a 2/3 BHK Apartment in Bangalore is a worthy investment giving lifelong returns:
- Cost Effectiveness: Although the cost of 1BHK or 1.5BHK may be much less, it is not cost effective in the long run. Instead investing in a 2/3BHK apartment is better if you are looking for a cost effective investment. For example, property builders in Bangalore offer 1 BHK apartments at 28-30 Lakhs or more but the price of 2/3 BHK apartments with all necessary amenities & central location starts from only 40-42 Lakhs. This means, if the homebuyer is putting in 10 lakhs extra he/she is getting a much spacious apartment worthy of investment.
- High Market Availability: 2/3 BHK apartments are getting cheaper due to various new policies and schemes launched by the Government of India. This has completely changed the face of the modern real estate market. Thanks to housing schemes that have made 2/3 BHK apartments affordable for the mid-income group homebuyers. More and more, reputed property aggregators & developers in Bangalore are launching 2 & 3 BHK apartments nowadays owing to their high market demand.
- Ready Audience: 2/3 BHK apartments are perfect for all kinds of buyers, be it nuclear family, small family or bachelors. The rental income from such apartments is good because they offer a spacious yet compact way of living.
- Enough Space for Future Planning: Buying a 2/3BHK flat is a one time investment that gives all the space you need to plan your future. The need to buy another flat does not arise even when you start planning for kids or take care of aging parents.Since these flats are spacious, you do not have to start saving money or take up a loan to move into a bigger place with increasing family members.
- High Resale Value: These apartments have high resale value especially if they are located in a prime location. For instance, if you are looking for a 2/3BHK Apartment in North Bangalore connected to a thriving infrastructure the important regions to target would be Yelahanka, Jalahalli, Hebbal and Devanahalli for a good investment. This scenario is purely dependent on the market demand and supply.
Your personal goals and situational urgency play a huge role in selection of your apartment. But, it is important not to rush and make an informed choice weighing all the pros and cons.Thus, if you are looking for an apartment in North Bangalore, consider buying a 2BHK or 3BHK flat for great return on investment and long-term stability.