How can a 1 BHK apartment be a good investment option?
Buying a property for self-occupation or investment purpose is one of the biggest investments made by a person during his lifetime. However, the real estate industry has been coming up with various housing concepts like an apartment, a bungalow, a penthouse, a studio apartment and so on. Perhaps not many of us are aware about the benefits of investing in a 1 BHK apartment.
Investing in a 1 BHK apartment is beneficial in various ways to most of the investors. Following are the ways in which an investment of 1 BHK will get better returns.
If you are an outsider:
With more and more corporate and industrial sectors coming up in all the cities, people leave their hometown and come to other cities looking for a job. In such case, one will need shelter which is affordable and convenient. Buying a 1 BHK apartment will cater to the needs of the consumer at this time as he/she can easily afford it and always rent it or sell it easily when not required.
If you are a student:
As 1 BHK apartments are easily affordable, it will be easy for students who move from cities to cities to acquire and rent them. This will provide them a decent shelter.
If you are newly married or are in the initial stages of your career:
As mentioned earlier, a 1 BHK apartment will be easy to acquire and anyone who still does not have a deep pocket can afford it. This is a best option to gain a decent shelter at an economical price.
Can save up monetarily:
Investing in a single room apartment will cost a person less and he/she will not have to pay large amount of loan and interest in the long run. Once the loan is repaid, the investor can save his money for future investment.
Lower property tax and utility costs:
Unlike other large homes or apartments, having a single room apartment will cause you less trouble as you will not have to shell out large amount for maintenance, utility costs, property tax, upkeep and the necessities required for the room. This saves you a lot of amount.
Can easily pay off the loan:
Since a single room apartment will cost quite less, one can easily pay off the loan with a lesser amount of interest in a short period. This will also allow you to save up and get better returns in future.
Keeps you away from debts:
It is mostly seen that maximum number of people who own large apartments are loan seekers. Perhaps not many of them are capable of paying away the loan easily, in such cases they are under debt and are also unsure about the ownership of their home as well. Investing in a smaller apartment will save a person from all this chaos.
