You expect your home to be a place of warmth, comfort and luxury. But that’s hard to get when the size of your home keeps nagging you constantly. Maybe you bought a home that’s smaller than the suitable size, or you bought a home too big that affected your savings unnecessarily.
Both the scenarios can be equally distressing, especially after considering how difficult it is to buy a flat in Mumbai and its satellite cities. Well, the good thing is that you don’t always have to trade comfort for saving money or burn extra money for comfort that isn’t really there.
With proper planning, you can find a home whose size is most suitable for your family. Apart from budget, here are the other factors that’ll help you decide between 1, 2 & 3 BHK flats when you’re out buying.
Family Size
When searching for a new home, you picture each member living in it—more the family members, more the imaginary space. That’s why family size is the first factor that helps you decide the size of your new home. It’s ideal to buy a bigger apartment if you have family expansion plans. Now, if you have a nuclear family and want to live in a self-sufficient urban ecosystem with lush greenery, then 2 BHK flats in Thane are where to scout.
Family Requirements
Now that you have formed a picture of your new home, it’s time to ask the family about how much space they would need in the new home, any additional requirements they might have if any. After having a couple of such conversations, you’d be better informed about what flat size would be the most suitable for your family.
Long-term Plans
Think long-term, play it repeatedly in your head while buying a family home. Considering that you may not get a chance to remedy a home-buying mistake, make plans prior to signing any deal. Imagine what a custom-designed home that fulfils your family’s every need looks like, then choose a home that best fits that picture. For, it is important to think about your family home as a place of permanent residence.
Analyse Property Demand
This is the part where you think like an investor. If there’s a chance that you might sell the property sometime in the future, think about what your prospective buyers would want at that time, buy a property accordingly. Though not a primary factor, making such calculated decisions would help you reap more investment profits.
1 BHK Flats
Owing to their smaller space and relative affordability, 1 BHK flats in Mumbai are ideal for bachelors and couples. Also, they’re quite easy to rent out, so if not for living, they can be bought for creating a rental income stream.
2 BHK Flats
For couples with family plans and nuclear families, 2 BHK flats in Thane, Navi Mumbai or Mumbai are ideal. They’re easily available in the current real estate market and are in high demand. All in all, considering how easy it is to sell or rent out 2 BHK flats, they’re a good investment.
3 BHK Flats
Large families rely on 3 BHK flats due to the availability of ample space. As permanent residences, they’re great. But, 3 BHK flats aren’t easy to sell or rent out and generally offer lower returns than 2 BHK flats.
