5 misunderstood assumptions about buying a 3 BHK flat in Hyderabad
A middle or upper-middle class home buyer in Hyderabad normally has a budget between Rupees 55 lacs to 60 lacs for a 2 BHK apartment. Some home buyers do NOT opt for a 3 BHK apartment for a few misunderstood assumptions.
It may be prudent to give a wise thought to them before taking the final call and buying a smaller 2 BHK flat which measures about 1100 to 1300 Sft. A 3 BHK instead would mean more space upwards of 1400 Sft starting from Rupees 65 lacs onwards.
The home buyers tend to get swayed by oft-misunderstood considerations while foregoing a 3 BHK unit in favour of a 2 BHK. This is particularly true when you have the financial capacity of affording a bigger home, and yet you choose NOT to opt for some extra space.
We shall discuss these here.
Let’s understand these better…
1. A 3 BHK apartments works out costlier in the long run
- Home buyers often think that instead of spending additional Rupees 5 to 15 lacs, it is better to keep the EMI burden low
- Fact is, that even if you take a loan at approximately 8%, the overall appreciation in the value of the apartment covers up for the extra money you pay as EMI
- Basically, the cost of construction gets higher as time progresses
- In the long run, it works out cheaper and sensible taking an additional burden of Rupees 5+ lacs, depending on what you can afford
2. Paying for extra space of a 3 BHK unit is not worth it
- Buying a home cannot be a strictly financial decision
- Your family grows, and you may need separate rooms for your small children as they become teenagers
- Alternatively, the elders or your guests may require and stay with you for longer duration and more frequently than you anticipated
- With pandemic like possibilities, more space never hurts, and makes you lead a better life
3. Additional space like utility room in a 3 BHK is not necessary
- A 3 BHK flat comes with more spacious rooms, additional bathrooms, a utility room, and, may be, even a puja room
- These are important since you need to have space to make life comfortable for storing your food and beverages, clothing, laundry/ironing, and also to take care of your pets
- All this becomes nerve wrecking when you have a small 2 BHK
4. A 2 BHK unit is easy to re-sell or give on rent
- On the contrary, a 3 BHK is more easy to sell/rent, and the returns you get are usually more than what you may think
- The location of your apartment eventually gets better with time, and those who can afford to buy or rent you 3 BHK flat will be better prospects for you
5. One can always buy a 3 BHK flat in Hyderabad once the income level goes up after a few years
- With construction prices shooting up and inflation, you will most likely THANK your stars for making the wise choice of going for a bigger apartment
- Also, having become familiar with your surroundings and established social connect and friends, it becomes painful leaving your small 2 BHK home, and trying to establish yourself all over again in a new 3 BHK unit in a different society
- You can NOT add space into your 2 BHK unit, and it is always wise to have some buffer, and NOT forego a 3 BHK unit when you have the opportunity
- Plus, after a few years, the cost of switching to a 3 BHK may NOT be as economical as you might expect
Simply put, if your finances are good, then a 3 BHK unit in Hyderabad is a better bet than settling down for a cramped up 2 BHK unit.
So, while picking your dream home, go for a spacious 3 BHK, and draw inspiration from the following quote:
“Home is where love resides, memories are created, friends always belong, and laughter never ends.”
To know more about “6 compelling reasons to go for a 3BHK flat in Hyderabad” click here