With the given economic climate, and demisingvalue in currencies only two investments can be deemed safe - Gold/Silver or Real Estate. This blog is not to compare investments, but to help you make a judgment on the capital appreciation of Real Estate Investment. With a varied size options between 2BHK, 2BHK plus a study room and 3BHK apartments, it is tricky decision which someone should analyze in details as the investment is for a lifetime. At times, customers face a huge dilemma between 2BHK and 3BHK apartments with the same sq. feet size. This blog is written to help you find the right size, and our experiences are from customers across Chennai and Bangalore. But the principle focus of this content is "What to buy - 2BHK or 3BHK Apartment's?”
Studying the cost gap pattern between 2BHK and 3BHK apartments over the last 5 years have significantly increased from 24Lacs to 40-48Lacs (we take taken a sample from apartments in kodambakkam and T Nagar, Chennai). Since there was a bump in the 3BHK sales, construction companies marketed the 2.5 BHK (yes! strange number, the 2BHK apartment with a study room) trying to make the customer understand that it was a better deal than a 2BHK or a 3BHK apartment. It worked to a certain extent, but lately prospects understand whether 10*10 room actually worth the additional 10 Lacs threshold. So there are lot of things to know before buying an apartment, but when it comes to decision marking tips on what size to select we have categorized a buyer into three types:
For the Investment type:
If you gain value out of your investment through rent, your target audience would prefer 2 BHK more than 3 BHK apartments, moreover the demand for 2BHK apartment with amenities for rent will be higher over the next few years. Also, the face that it is relatively east to sell in the future compare to 3BHK apartments.
For the Budget type:
Just go 2BHK in an upcoming location. Do not worry about the amenities, and you might want to consider the maintenance charges over the next two years before buying an apartment.
For practical people:
Sufficient space, convenience for your family under one roof and separate spaces for your loved ones is what practical people look for. Only if have zero intention of selling it over the next few decades, you could gain the value of the interest and maintenance charges that comes along with it.
As this is an investment for a life time and value will increase over time, make a logical decision on which category you are. If you like our content, we would love if could share with your friends and family.