When it comes to making an investment, the property is always a wise choice, especially given the current uncertainty of the Covid19 pandemic. While the risk is less, these investments have great rental returns, although one needs proper guidance in choosing the right assets to invest in. For example, deciding between a 2 or 3bhk apartment or a Villa, the location, and housing amenities.
Each element of real estate has its pros and cons. Let’s start with the apartments. When it comes to metro cities such as Pune, choosing to invest in an apartment in a prime locality can be an appealing choice, especially for young families or millennials. Many new apartment complexes in Pune, have modern amenities, spacious 2-3bhk flats at affordable prices compared to villas. An apartment complex comes with security, a water system, power backup, most of which aren’t readily available in a stand-alone Villa, where the maintenance costs are a lot higher.
If you’re considering taking a home loan, it is a lot simpler to receive a sanctioned loan for an apartment as opposed to a villa. A number of banks are affiliated with residential projects and offer loans more readily, whereas the process is a lot more stringent for villas. Hence, investing in a new apartment in Pune would be a much quicker process than a villa project.
According to industry trends, selling or renting out a 2 or 3 BHK apartment is more in demand than a villa project, making the best residential projects offering apartments, a more obvious choice for many.
While we’ve explored numerous pros of investing in an apartment, let’s take a look at why villas may also be a good option. One of the biggest highlights of investing in a villa is the privacy factor. When you live in a villa, you have an independent property with an abundance of public space all to yourself! This makes it a great option for family gatherings, pet owners, children and larger families.
Another advantage is design. Owning a villa gives you the freedom to design your home as you please. Having the luxury of owning a garden, a patio, top additional amenities are some of the factors which may not be available in a private home. Along with this, villas in Pune are usually nestled away from the hustle and bustle of the main city life, allowing you to enjoy some peace and quiet as opposed to an apartment, which may appeal to many.
With villa projects in societies, you are able to enjoy an independent home while still benefiting from the amenities provided! According to trends, after 7 years of owning a villa, the resale value is a lot higher than an apartment. When it comes to renting out villas, it is usually families who would be potential tenants and this is an added factor for those who do not wish to rent out to students.
Taking these points into consideration, each investment has its benefits and downfalls but it all boils down to what your immediate future looks like, your family planning, your current budget and your lifestyle! At Mittal builders, we have something for everyone.