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Hi,
Personally, I feel investing in cities like Lucknow, Surat, Visakhapatnam and Kochi is a better option. Here is why:
1. The rates are affordable
The property rates in these cities are comparatively lower than cities like Bangalore, Delhi and Mumbai. You can own a 3 BHK flat for around 60-70 L in a well-developed area and if you decide to rent it out, you will get a good rent amount as well.
2. Availability of the basic as well as high-class amenities
All the basic facilities like quality education, well-maintained hospitals, parks, etc are available in these cities. There are many international schools as well in these cities. Apart from that, you can also find high-class restaurants, malls and other amenities in these cities.
3. Less Traffic
Many people say that people staying in crowded cities spend half of their time travelling or commuting from one part of the city to another. Well, the best part about these cities is that the traffic is less and you won’t be stuck in traffic jams every day! Your quality of life would be better.
4. Affordable Lifestyle
The cost of living in these cities is relatively lower. From the price of vegetables to the price of renting an apartment, everything in these cities seems to be quite affordable.
5. Peace of Mind
As the traffic is less, the pollution level is also less which means lower health issues. Apart from this, these cities are generally in close proximity to nature making it a peaceful place to live and maintaining a healthy lifestyle.
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Everyone will be at different stages of the investment journey. For some, it will be their first purchase and maybe the very first home, they will move into. For others, the investment will be another source of earning. People want to focus on investment strategy before investing and try to know what fits their budget and needs. A person long term need defines the better investment, whether they want to purchase a flat worth 1.5 cr in a metro city with all the facilities or villa worth 80 lakhs in a small town or outskirts of the city.
People who look for investing in houses have an advantage with land ownership. The land tends to appreciate over time unlike apartments that can depreciate in most cases. Whereas the initial cost of buying a house will be higher in the city so preferably people should go for a smaller town to make the investment.
Whereas if someone wants to purchase a flat, and do not want to occupy it immediately, it can be put on rent and can cover up the EMI’s through that. Another advantage is apartments fo have a higher resale value and wider buyer base in cities. So, its comparatively easy to find a buyer for the apartment in the city for an individual house.
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Authors Of The Question
What should be a better investment now which can help in future? Buying a flat worth 1.5 cr in a metro city with proximity to all facilities or a villa worth 80 lakhs in a smaller town but with access to limited facilities?
bhaskar
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4 Year
2020-08-27T15:57:00+00:00 2020-12-15T18:41:15+00:00Comment
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