In the last few years, the demand for studio apartments and 1 BHK has witnessed a huge jump in key metro cities like Bengaluru, Mumbai, Gurugram, and Noida. The main reason behind the rising popularity of such homes amongst bachelors and nuclear families is due to their compactness as well as their affordability. Besides this, there are several other factors which have increased the favourability of these homes. Take a look:
Due to their compact size, they are easy to maintain. You don’t have to pay high property tax, maintenance cost to the society. Even if there is repair work, you have to spend less money. Especially for newly married couples or bachelors who can’t afford much at the start of their career, this is the best investment opportunity.
For those who want a place near to their workplace; studios and 1 BHK’s is a good option. Perhaps, this is the major reason today most of the developers are focusing on the development of such homes, as they are sold off easily. In Mumbai or Bangalore, where working professionals are spending most of their time in travelling, these homes offer multiple benefits.
Good Investment Option
Earlier, home buying was considered as an asset creation for the retirement period. But today, with financial growth, millennials think to start with small investment finally moving on to a big one. As studios and 1 BHKs falls in the affordable range, so the investment starts with less price and that’s why youths love to invest in such homes.
Investing in a large apartment means high loan EMIs and more risk of instability. Sometimes, even owning the property becomes risky. Therefore investing in compact homes not only leads to low EMI burden but also comes under safer investment. Even you can earn better returns on investment with such properties.