In our previous blog posts, we have covered what all aspects you need to consider as a first time home buyer to select the right home for you.
Once you select the right apartment complex, the next big decision is what the right size of apartment is for you and your (future) family. This is a very important decision as you need to live in the apartment for at least next 5-10 years and hence it’s a decision that has to be taken considering both short term and long term goals.
Usually in any apartment complex, apartments are available in various sizes like 2BHK, 2.5BHK, 3BHK and 4BHK. The BHK in these apartment sizes stands for Bedroom, Hall and Kitchen. So, if the apartment is 2 BHK, it will have 2 bedrooms, a Living Room (Hall) and a Kitchen and 3 BHK will have 3 Bedrooms, Living Room and Kitchen. The number stands for the number of bedrooms available in the apartment.
The first instinct while selecting an apartment is to look at the price and see what fits in your budget and then accordingly decide. However, it is important to understand the long term impact of an apartment and not just short term.
If you are a bachelor or have just married, a 2 BHK apartment may seem to be the best option, but for how long? A 2 BHK will have one master bedroom, one guest bedroom, kitchen and living room which may seem sufficient at the time. The reality of life and marriage is that the family will be growing and that too in next 2 to 5 years. Yes, there will be children. Then the Guest rooms stays no more a guest room, it becomes kids room. There will be toys, books, clothes study tables, kid’s beds and much more, all stuffed in that very room. Also since it’s a 2 BHK the overall room sizes will also be smaller. Now what?
In less than 5 years your 2BHK apartment is already feeling small. And once you have invested time and money in an apartment, and you have started living in the community, made friends, are now aware of the area, it becomes very difficult to move into a new apartment. Imagine going through the same house hunt all over again! By this time, the cost would have escalated considerably and it might become difficult to purchase a 3 BHK in the same area and hence you may have to move little farther away from the city. This will again result in schools, malls, offices etc. being further away. Even after you purchase a new apartment, there is the hassle of again redoing your interiors, moving, having new friends etc.
So, if you stretch a bit at this stage of purchasing your own apartment, it’s always easier and more profitable to purchase a 3 BHK instead of a 2 BHK in the long run. This does mean that you will need to cut on some discretionary expenses and may need to compromise on your lifestyle for some time, however, the long term benefits outnumber the short term benefits considerably.
You will be able to live in the apartment without any space constraints till the time your kids grow up. Also, in case you need to rent the apartment or are looking at the apartment as an investment, the rentals in a 3 BHK as well as the proportionate increase in prices in a 3 BHK will be much higher than a 2 BHK and hence the ROI will be much higher.
Please let us know your views and suggestions and if you have any additional points that needs to be considered to determine whether you should go for 2 BHK or 3 BHK apartments.
Durga Petals is an upcoming project from Durga Projects and Infrastructures Ltd in the prime location of Marathahalli Outer Ring Road, the heart of Bangalore’s IT corridor with proximity to major IT companies, educational institutes, shopping malls and more. Spread on 5 acres of land, Petals boasts of 8 luxurious sky soaring towers with each having 13 storeys. And that’s not all; it has a sprawling club house and 40+ recreational amenities.
For more details on the project, please visit http://www.durgaprojects.in/petals or call+919019555777.