Two factors play a big role when you are planning to buy a new home. These are the space you need and your budget. They will come into play whether you are looking for flats in Pride World City or elsewhere in Pune. The big question is this: Should you look for a 2BHK flat in Pune or will a smaller flat suffice? This is a crucial decision that you have to take before embarking on the journey of buying a home.
How much space you need will generally depend on the size of your family. If it is just you and your spouse, a 1BHK flat may be a good option. But if you live with children and your elderly parents, it would make sense to look for a bigger house.
In a city like Pune, you should be able to find both 1BHK and 2BHK apartments at convenient locations. With the trend being towards nuclear families, the demand for 1BHK and 2BHK flats has been increasing. Housing projects like Pride World City can offer good deals on a 1BHK or 2BHK flat in Pune.
# 1BHK or 2BHK: Best choice for you
Indian families often find it difficult to choose between 1BHK and 2BHK accommodation. That is because both options are relatively pocket-friendly. You might be tempted by the lower price of a 1BHK or the larger space of a 2BHK.
But you must weigh the pros and cons before making your choice. If you plan to settle in Pune, you can choose from among a range of affordable projects. You could get a 1BHK or 2BHK flat in Pune at a good price.
# Pros and cons of 1BHK apartments
A 1BHK flat is a good option for very small families. It is especially suitable for singles. Young newly married couples often look for 1BHK flats as these are cheaper and more in tune with their budget. When you take a home loan to buy such a flat, the loan amount tends to be lower.
So, you end up paying a lower equated monthly installment (EMI). Besides, a 1BHK is easier to maintain, simply because it is smaller. A 1BHK apartment could be your stepping stone to a bigger 2BHK flat in Pune later on. It could be your first taste of a real estate investment.
Later, when your family grows, so will your need for space. You can then sell the 1BHK and use the funds to buy a bigger flat. Or, you could buy a second house and put the 1BHK out on rent. There is always demand for smaller flats in a city like Pune that draws students and young professionals alike.
# Pros and cons of 2BHK apartments
A 2BHK apartment is ideal for a small family with kids. Such homes provide enough space for all family members and are easy to maintain. Buying a home is a one-time investment. So, you should think about your future needs when planning to buy a new house. If you have relatives and friends dropping by frequently, you may need more space than is provided by a 1BHK.
In such a case, it may be wiser to have a 2 BHK flat in Pune. Besides, a spacious house in a large or growing city gives you some breathing space. Plus, the resale value of 2BHKs tends to be higher than when compared with 1BHKs.
A 1BHK flat may be cheaper. But it may be a good idea to stretch your budget a little and go for a 2BHK flat. You are likely to get a better deal. Arranging the funds should not be too difficult. Lenders like Bajaj Finserv Homes & Loans provide home loans of up to Rs.3.5 crore over a 20-year tenor.
Yes, budget is an important consideration when buying a home, whether at Pride World City or elsewhere. But you should factor in your future requirements as well. There are ways to go around the cost.