In Kochi, the real estate market is booming. The number of apartments now available in Kochi is insufficient to meet the city’s growing demand for housing. While buying an apartment has certain long-term advantages over building a house, the former may be a better investment option. Here are some reasons to think about purchasing an apartment as an alternative:
- Apartments are more inexpensive and a better investment than houses.
- Flats can be rented out to generate income: If someone wants to invest in real estate and generate rental income at the same time, they should think about buying a flat or apartment instead of a house because there will be less maintenance cost involved when renting out these properties than there would be when buying a home, which would reduce their overall expenditure for such activities.
What makes these apartments appealing?
1. The finest choice you can make is to buy a flat in Kochi for a number of reasons. Location is the first justification. A significant business and commercial centre, Kochi has drawn numerous visitors from all across India and overseas. These apartments are more likely to be bought than some other properties that are situated further from downtown districts since they offer excellent accessibility.
The amenities offered by the apartment complex itself are the second factor that might make owning a flat in Kochi advantageous. These amenities include lawns, basketball courts, swimming pools, and clubhouses with amenities like gyms and spas that enable residents to relax at home pleasantly during their free time.
2. Families are given security and privacy: You wouldn’t want to reside in a city where staying inside all day is the only way to stay secure. And after settling into their new house, your family will be able to take advantage of the security and seclusion that come with it.
Each inhabitant of the apartments feels safe and secure because to the top-notch amenities that were used in their creation. When residents are out and about, they can live a lifestyle that makes them feel at home. The apartments also include cutting-edge security technologies that make it more difficult for burglars to enter your home without authorization from inside the building or from outside guards who patrol each floor around-the-clock, 365 days a year.
3. There hasn’t been a need for updates or repairs in a while: You can have peace of mind knowing that an apartment you purchase is long-lasting. High-quality materials that won’t need to be changed for many years were used to construct the walls, flooring, and other structural components. This implies that you won’t need to worry about any significant improvements or repairs for a while.
4. It is a wise investment for the present and future generations: Over time, investing in a Kochi apartment will enable you to save both time and money. In the future, if you need more money, you can sell it. If you want to make additional money, you can even rent it out.
Owning an apartment is unquestionably a better option than renting one. Renting does not give you the same opportunity to accumulate equity as purchasing an apartment does. Additionally, your rent may rise at any time. Your tenant may have influence over you and can evict you or put off making repairs. However, you are already aware of the EMI you will have to pay over time when you take out a loan to buy a property. The value outweighs renting, though. As an illustration, let’s take a look at a Kochi house. Think about the following example: To obtain accommodation, you must pay an average rent of $20,000, with an annual rent increase of about 5%. In the subsequent ten years, the rental price range will also rise. Additionally, it’s probable that your apartment’s price will rise in 20 years. Consider whether you want to invest in it as a result. Specifically, should you prefer to own a home that will be an asset to you overpaying about 2.5 lakh in rent each year?
So stop wallowing in the purchasing vs. renting argument right now! One of the best developers in Kerala, Varma Homes, offers homes with first-rate amenities in Kochi, Tripunithura, Thiruvananthapuram, Thrissur, and Kozhikode.