We as human beings are always looking to upgrade our lifestyles. Whether it translates to buying a better phone than your last one, or moving from a rented accommodation to your own home; whenever we spend, we want to spend on the best. Today, we at The Scapers look at why you should invest in a budget apartment, when considering your next home.
Comparatively Low Maintenance Costs: You see a place, and fall in love with it. You check its price, and it seems within your budget. Before you know it, you’ve got yourself a home. But wait. Did you look at its maintenance costs? And did you calculate how that will impact your finances in the long run? In the excitement of finding a wonderful apartment, people tend to forget about its on-going costs. Budget apartments offer reasonable maintenance costs that do not eat into your future plans.
Budget Apartments Offer Better Resale Value: The future is unpredictable, and even though you’ve decided to settle into your own home, you can never be entirely sure if that’s where you’re going to be forever. Maybe your work gives you an opportunity abroad or maybe you find another city that you prefer to live in. No matter what the reason, if there comes a time when you need to rent or sell your house, a budget apartment will give you far more value for money.
The reason for this is simple. Most often, budget apartments have the maximum demand. So, when investing in a home, always try to understand the local market trends that could indicate demand patterns during resale.
Budget Apartments are Easier on the Pocket: This may seem obvious, given the name, but have you stopped to think how much of an impact this could actually have on your life? A home, for most, is the biggest purchase one makes in a lifetime. And arranging the funds for this, could actually take a lifetime. But there is more to life than just a nice house. Perhaps you want to travel, or buy yourself something expensive, or maybe you just want to save for a rainy day. Why spend all your money only on a home? Budget apartments offer easier EMIs, which in turn allow you to enjoy other aspects of your lifestyle.
Budget Apartments Offer Lower Investment Risks: Stock markets are known to fluctuate. And unless you have a high-risk appetite, more often than not, you either lose money or shy away from risky investments. The real estate sector on the other hand, has a reputation of being comparatively steady & reliable. And within this sector, budget homes offer the lowest chances of risk.
Two for the Price of One: Every investor has their own reasons for their decisions. However, given that property is expensive; most people invest in a home they would like to live in. Once they have paid off their EMIs and settled down financially, they may consider another home solely for investment purposes.
With a budget apartment, you literally get two for the price of one. You can either live in it or you can use it as an investment. Given that budget apartments tend to appreciate faster than others, it will almost always lead to a win-win situation for you.
A Change in Market Trends: Inflation has led to saturation in most other segments of the real estate industry. Now more than ever, there is a new trend where premium builders are catering to the affordable segment. This not only works better for them, it also gives buyers more high-quality options to choose from.
For those of you planning to buy a house soon, think about what exactly you want out of this investment. And reach out to us at The Scapers. We’ll show you properties that not only suit your budget, but also your future plans!