3 BHK Flats vs 2 BHK Flats: Which Is Better?
When deciding between a 3 bhk flats and a 2-bedroom flat in a rapidly expanding metropolitan area like Mumbai, a number of aspects will determine which is the better flat for you to buy. Consideration of each of these aspects will affect your decision as to which is the right flat for you before making your final decision. The size of your family, if you are planning on growing your family, your financial capabilities, the type of lifestyle you have and want to maintain, and where you see your investment continuing into the foreseeable future, will need to be considered.
When evaluating your space requirements based on your current lifestyle, small flats have several benefits for couples and young families just starting to establish themselves. The main benefit of a 2-room flat is allowing a couple or small family sufficient space to maintain comfortable living arrangements without taking on too much financial obligation related to housing costs. Many of the people who prefer to purchase two-room flats in Mumbai are professionals who desire less maintenance and lower-priced options compared with three-BHK flats in Mumbai.
On the other hand, the third bedroom in a three-bedroom flat offers many more alternatives for the homeowner compared to those providing only two. The majority of three-bedroom flats are created specifically for large families or for individuals who work from home. Three-bedroom flats are also the ideal size for homeowners who often have guests and need more space to entertain them comfortably when they are in their homes. Generally speaking, apartments that are larger than the average apartment unit in the city, like a 3 bhk flats in Mumbai, are in high demand from people looking to buy a place to live or purchase an apartment unit.
Monthly Expenses
The difference in cost per month between the two types of apartments is primarily related to the price paid for an apartment and the costs for maintaining the apartment. In comparison to a 2 BHK apartment, 3 bhk flats in Mumbai (and throughout the State of Maharashtra) will have significantly more monthly maintenance costs and a greater capital investment (or down payment). For most buyers who want to buy a home that will be affordable in the long run (as an investment), 2 bhk flats in Mumbai are very good choices.
Most 3 BHK apartments will have much higher initial and future maintenance and property costs because of the size of the unit (3 BHK). If you are a growing family, and the 3 BHK will benefit you for many years to come, it will also likely be the best long-term value and investment for you.
Investment and Resale
From an investment perspective, a 2 BHK apartment will almost always be less valuable than a similar-sized 3 BHK apartment. However, 2 bhk flats in Mumbai will generally sell for more and have a greater resale potential than 3 bhk flats in Mumbai, due to the lower price point at which a significant percentage of potential buyers will be able to purchase a 2 BHK apartment compared with the higher-priced 3 BHK apartment. Additionally, in both developing and existing strong markets, 3 bhk flats in Mumbai will generally appreciate over time at a higher rate than 2 bhk flats in Mumbai (meaning more value will accrue and ultimately benefit the home buyer).
Closing Thoughts
For first-time buyers or families with small children, a 2 bhk flat in Mumbai is the best option. If a family has a plan to expand and is looking for an apartment to accommodate their growth, a 3 bhk flats in Mumbai apartment provides the homeowner with greater long-term comfort than a prospective homeowner who is looking for the highest return above the purchase price. An individual’s purchasing decision as to which apartment is most compatible with his or her lifestyle, finances and future purchase potential will ultimately guide their choice of which apartment is best for them.
