Here is Why You Should Invest in 1 BHK Unit
Jan 15, 2018 Home Trading Steps
Buying a 2 BHK unit is an ideal choice for today’s nuclear family as it is affordable as well as enough for a member of 3 to 4 members. But buying at a premium location can be expensive, so the buyers move to some far off places to buy a budget flat. The buyers also have another option that is they can opt for a 1 BHK unit at their preferred location that is perhaps priced at a comparatively lower range. However, the choice completely depends on the buyers’ requirement and preferences.
So, here are some reasons on why buying a 1 BHK unit could be a good option.
Affordable: needless to say that 1 BHK unit is much more affordable than a 2 BHK unit. For a first time, a home buyer who is tight on budget, a 1 BHK flat is an ideal option to buy. Affordable means less price range, smaller EMI amount and a smaller down payment amount. Moreover, 1 BHK units come under the affordable housing segment which is linked to subsidised home loan scheme.
Less additional cost: smaller the unit size, lesser would be the additional costs associated with the unit. As compared to a 2 BHK unit, 1 BHK units have lesser maintenance and utility charges as well as attracts lesser property tax.
Demand and supply: the current market trend shows that 1 BHK units are less preferred as compared to 2 BHK units by the home buyers. The demand for 1 BHK units is on a much lower side than the other specifications. The lower demand implies that the buyers preferring 1 BHK have ample of options to buy from. This also means that the buyers can get their choice of the unit at a much reasonable and negotiated price. The builder could also offer some additional offers such as waiving off of club membership, maintenance costs or Goods and Services Tax (GST) in order to sell off their inventory. As most likely from the next financial year, the government might levy some additional tax on the developers for their unsold inventories for over a year.
Good investment option: buying a 1 BHK is a good investment option if the unit is put on for rent. Usually, students, bachelors, young couples prefer 1 BHK flats due to pocket friendly rentals, easy to maintain and also low maintenance costs. Majority of migrants as well prefer 1 BHK apartments due to all the mentioned reasons. In term of rentals 1 BHK flats are high on demand and therefore 1 BHK units are a desirable option for investors to earn a regular monthly income.
So, if you are also planning to buy a property then 1 BHK could be a good option, think about it.
So, here are some reasons on why buying a 1 BHK unit could be a good option.
Affordable: needless to say that 1 BHK unit is much more affordable than a 2 BHK unit. For a first time, a home buyer who is tight on budget, a 1 BHK flat is an ideal option to buy. Affordable means less price range, smaller EMI amount and a smaller down payment amount. Moreover, 1 BHK units come under the affordable housing segment which is linked to subsidised home loan scheme.
Less additional cost: smaller the unit size, lesser would be the additional costs associated with the unit. As compared to a 2 BHK unit, 1 BHK units have lesser maintenance and utility charges as well as attracts lesser property tax.
Demand and supply: the current market trend shows that 1 BHK units are less preferred as compared to 2 BHK units by the home buyers. The demand for 1 BHK units is on a much lower side than the other specifications. The lower demand implies that the buyers preferring 1 BHK have ample of options to buy from. This also means that the buyers can get their choice of the unit at a much reasonable and negotiated price. The builder could also offer some additional offers such as waiving off of club membership, maintenance costs or Goods and Services Tax (GST) in order to sell off their inventory. As most likely from the next financial year, the government might levy some additional tax on the developers for their unsold inventories for over a year.
Good investment option: buying a 1 BHK is a good investment option if the unit is put on for rent. Usually, students, bachelors, young couples prefer 1 BHK flats due to pocket friendly rentals, easy to maintain and also low maintenance costs. Majority of migrants as well prefer 1 BHK apartments due to all the mentioned reasons. In term of rentals 1 BHK flats are high on demand and therefore 1 BHK units are a desirable option for investors to earn a regular monthly income.
So, if you are also planning to buy a property then 1 BHK could be a good option, think about it.
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