[avisidhu]

Since there has been a discussion about choosing between 2 or 3 BHK, I would really like to know what you guys think. For a couple without a kid currently or maybe even a toddler, how much sense does it make to buy a 3BHK if your parents are not staying with you?

My reasoning it that say I have a budget of 60L. Rather than stretching it to it's limit and buying a 3BHK, why not look for a spacious 2BHK for around 50-55L and spend the rest on refurbishing the apartment, or have a lesser EMI. For such a couple, the actual need for a third bedroom shouldn't arise for 8-10 years or so. By that time of course you will have the means to upgrade, since your flat would have appreciated alongside the rest of the market.

Is there some factor I am missing? Does the resale vary for 2 and 3 BHK?

[shankar.balan]

Originally Posted by avisidhu

Since there has been a discussion about choosing between 2 or 3 BHK, I would really like to know what you guys think. For a couple without a kid currently or maybe even a toddler, how much sense does it make to buy a 3BHK if your parents are not staying with you? My reasoning it that say I have a budget of 60L. Rather than stretching it to it's limit and buying a 3BHK, why not look for a spacious 2BHK for around 50-55L and spend the rest on refurbishing the apartment, or have a lesser EMI. For such a couple, the actual need for a third bedroom shouldn't arise for 8-10 years or so. By that time of course you will have the means to upgrade, since your flat would have appreciated alongside the rest of the market. Is there some factor I am missing? Does the resale vary for 2 and 3 BHK?

Psychologically most people prefer the third bedroom because it gives them a sense of planning for that 'eventuality'. Same logic as to why a couple without kids and family who are really far away, go and buy that large 5 or 7 seater car, for that 'eventuality'. On the upside, the third bedroom can be beautifully converted into a workroom, den, library, TV room or whatnot!
The other option is go and buy a plot. Live for a bit on rent. Let that plot appreciate nicely till you're ready to build a little house. Nothing better than an independent home in a gated community, since you also own the land that it is constructed on.
And the best part is, that you can build a really lovely little two storeyed house, just the way you want it, for a reasonable price, compared to the maniacal prices these apartment builders quote!

[Mr_Bean]

Originally Posted by shankar.balan

The other option is go and buy a plot. Live for a bit on rent. Let that plot appreciate nicely till you're ready to build a little house. Nothing better than an independent home in a gated community, since you also own the land that it is constructed on.
And the best part is, that you can build a really lovely little two storeyed house, just the way you want it, for a reasonable price, compared to the maniacal prices these apartment builders quote!

I had the same thought when I was in my early 20's, landed up with a new job in 2004, went ahead and brought a plot(outskirts) keeping this thought.

After marriage, I've slowly moved into the 30's, there was a need to have a kid. IMO, it also meant that the option of building an independent house at the moment would not be practical since the kid(s) might miss out on the social life.

Please correct me if I am wrong here.

Rgds,
Vinod

[chakri400]

Originally Posted by avisidhu

Since there has been a discussion about choosing between 2 or 3 BHK, I would really like to know what you guys think. For a couple without a kid currently or maybe even a toddler, how much sense does it make to buy a 3BHK if your parents are not staying with you? My reasoning it that say I have a budget of 60L. Rather than stretching it to it's limit and buying a 3BHK, why not look for a spacious 2BHK for around 50-55L and spend the rest on refurbishing the apartment, or have a lesser EMI. For such a couple, the actual need for a third bedroom shouldn't arise for 8-10 years or so. By that time of course you will have the means to upgrade, since your flat would have appreciated alongside the rest of the market. Is there some factor I am missing? Does the resale vary for 2 and 3 BHK?

I bought a 2 Bhk in 2007 because of the reasons you quoted above. The three BHK was 5 Lakhs more and a premium builder was probably 5-10L more. I should have taken the 10-15L burden then which doesn't sound much today. I wanted to be in my comfort zone. When it comes to property, you need to take that risk and stretch. Keep in mind two things: property is a long term purchase, your purchasing power increases over a period of time. So 20L more today may not mean much in a couple of years. Second: the property prices go up faster than your income. If you don't invest now, you may have to pay a lot more to get that 3bhk later

[Oxy]

Originally Posted by avisidhu

Since there has been a discussion about choosing between 2 or 3 BHK, I would really like to know what you guys think. For a couple without a kid currently or maybe even a toddler, how much sense does it make to buy a 3BHK if your parents are not staying with you?

My reasoning it that say I have a budget of 60L. Rather than stretching it to it's limit and buying a 3BHK, why not look for a spacious 2BHK for around 50-55L and spend the rest on refurbishing the apartment, or have a lesser EMI. For such a couple, the actual need for a third bedroom shouldn't arise for 8-10 years or so. By that time of course you will have the means to upgrade, since your flat would have appreciated alongside the rest of the market.

Is there some factor I am missing? Does the resale vary for 2 and 3 BHK?

Originally Posted by chakri400

I bought a 2 Bhk in 2007 because of the reasons you quoted above. The three BHK was 5 Lakhs more and a premium builder was probably 5-10L more. I should have taken the 10-15L burden then which doesn't sound much today. I wanted to be in my comfort zone. When it comes to property, you need to take that risk and stretch. Keep in mind two things: property is a long term purchase, your purchasing power increases over a period of time. So 20L more today may not mean much in a couple of years. Second: the property prices go up faster than your income. If you don't invest now, you may have to pay a lot more to get that 3bhk later

Stretch as much as you can now, and go for the biggest possible apartment you can afford. That's the thumb rule as far as buying property is concerned, specially if you are buying it for end use. Trust me, you will never feel you have got unnecessary extra space.

So as Chakri400 said above, it's better to invest that extra 5-6 lakhs now and go for that extra room, because 5 years down the line, the price difference between a 2 and 3 BHK will be around some 25-30 lakhs, which might well become unaffordable by then.

[shankar.balan]

Originally Posted by Mr_Bean

I had the same thought when I was in my early 20's, landed up with a new job in 2004, went ahead and brought a plot(outskirts) keeping this thought. After marriage, I've slowly moved into the 30's, there was a need to have a kid. IMO, it also meant that the option of building an independent house at the moment would not be practical since the kid(s) might miss out on the social life. Please correct me if I am wrong here. Rgds, Vinod

Yes Mr. Bean. You're partially right on the social life aspect. However a gated community gives you the same flexibility as an apartment in that respect, coupled with a far higher quality of accommodation plus ownership of the plot too so why ever not? Added to this one can achieve this at the same price that one is required to pay these days for an apartment!

[livyodream]

Originally Posted by Mr_Bean

IMO, hebbal is a hyped up place. If you travel by air a lot, Hebbal may be a good option but do also look at the companies matching your profile in Manyata Tech park for future needs. Personally, I gave that area a miss due to the huge travel time, higher rates & never ending traffic. I envisage myself working at companies in electronic city, on the ORR (Silkboard - Doddakenkundi) and inside bangalore city.

IMO, Im sure 10 kms from M.G road and just 2 (TWO) signals to reach would not be called a hyped up place.

One can reach city centre (M.G, Brigades, Majestic, KH road) in 15-20 minutes flat at any given point in time would definitely not be categorized as hyped up place.

And regarding rates, believe me its still in affordable rates considering the growth that is happening and the distance it is from the city centre. (not considering the branded ones like RMZ or brigade)

And if you are calling/referring hebbal as yelahanka and/or devanahalli then I have nothing to say .

And regarding purchase of property near to office, works only if one is in a government sector non transferable job. So buying property based on work location would not be a good advice.

[vinay kamath]

A CEO friend wants to sell about 3,000 square feet apartment for above Rs 5 crores . all white only . 55 minutes drive & 33 km from international airport ! three bedrooms. all marble. quiet posh area @ Bangalore's CBD. please PM me . He is relocating to US this year.

[amtak]

Guys, what do you think about Lodha Palava? I had invested here in 2012 for a 1 BHK property and the cost is already 42+ lakhs. As of now, this city has nothing but in the coming years, I am expecting it to be the next Powai of suburbs.

Anyone echoing my thoughts?

[driverace]

Ohkay! This is going to be a (really!) long post.

I don't mind sharing details to get more apt advise on this forum.

I am 29 - and I think I have saved enough for a 2BHK flat here in Pune.
Expected budget 50L.

Reasons why I am looking at a flat:
1. I might be in Pune for 2 to 5+ years.
2. Next shift (if it happens) would be to Mumbai - where I AM SURE, it will take a lot of time and lot more savings to buy a flat.
3. Need to be peaceful @ home (away from city / closer to highway preferred) -
Currently I stay at Hadapsar (4.5 km from Magarpatta - where I work - as of now) which makes my commute time = 25-30 mins per day.
considerably far from "city" / other joints/ places to hangout etc. -- I'm okay with that.

Things I am looking for, in my "residence" flat:
1. Spacious 2 BHK within a developing/developed environment.
(Me n wife would be staying here. Newly married. Not planning kids for quite a few years, atleast)
2. Should be in the process of appreciation - so in case I decide I WANT to settle in Mumbai / buy a flat there, I should be able to do that - in 3 years or so..
3. Peaceful / slightly far away from city ( incase I dont shift to Mumbai - and decide to stay here for next 5+ years or so.
4. Good community around / ample activity area / open spaces / landscaped etc. (tennis court would be nice to have nearby.. since lately I have developed a liking for it & helps me keep fit too, since i am not much of a gym-person)
5. Lastly - easy access to Mumbai-Pune highway/expressway would be good to have.
My better half is a freelancer artist - who has to shuttle to Mumbai typicaly 3 times a month ( varies from 2~4+ visits a month ).


-----

Looking at a flat in Nanded City, Pune. (770 acres project, almost 2xMagarpatta city project)
50.5L flat (with covered parking, onetime maintenance charge, registration etc. etc. included)
2BHK - 970 sqft - (Carpet area) 780 sqft @ 15th Floor (in 22 floor aptt.) - which is in a cluster of 9 similar aptts.
(15th floor) High rise
- will fetch some advantage while looking at resale (if at all).
- otherwise will mean cleaner air / lesser noise, dust etc.
- We both love the look and feel of the high rise
other good things (most of these found in major projects around)-
Pipe gas connections
Firefighting setup (dedicated to NC)
Solar water heating
Good internal roads
Excellent parking area.
Security is Good - access cards given to cars (auto open gates on flashing the card), CCTVs et all.
Intercom n other regular facilities.

What I feel is good for me here:
1. Excellent infrastructure - town-in-itself kind plan
(which will most likely start taking shape in at least 5+ years or at the most 12 years or so.)
So, will stay peaceful - since it's far away from the already crowded Pune city - and still develop in a planned manner (hopefully).
2. Expecting it to appreciate like Magarpatta property has appreciated in recent years.
3. All my open area/landscaped looks/tennis court check boxes would be ticked.
4. Plans of NC include multiplex/shopping complex/banks & other agencies within the NC premises.
So - a possibility of walking to a movie/shopping OR even to work (in 5+ years) would be an optimistic expectation.
5. Home would be 1.5Kms from Mumbai Pune highway (still 25+kms from expressway - but, that's ok).
6. Flat options that I am looking at - are ready possession or Possession by Apr-2014. (so - NO EMI+rent payment burden)
7. SBI home loan expects me to give 10L as down payment and 40L would be processed as loan.
( My net net savings as of now - work out just a shade above the down payment required )
8. I am not planning a shift(job) at LEAST for next 3-5 years.
But, IF I plan to shift - I could land up in a company in Hinjewadi (which is still 20 kms from NC place - BUT without a signal in between - and like 15+ kms of highway driving)
I could (again, optimistically) expect some company to be here in the office space in NC (which is 4 towers of 32 floors each - as planned)
9. Distances from Swargate/Station/ are ~9kms, and airport is 22kms. (similar to what I have as of now as well)

What's not good for me:
1. My "current" workplace would be 22kms (one way) - so daily commute would go up to 2 hours daily (standard traffic conditions / assuming I go by my bike only)
-- fortunately, my work, though it makes me work ~10+ hours a day, still gives me a lot of flexibility in terms of work timings -

IN times could be 8~10:30 AM
Out times could be respective = IN time + 8 hours
Rest of my work, I can continue from home.

2. Development of Office space complex/Multiplex could be well over 5+ years. (don't see it happening sooner)
The shopping complex/banking could still take 6 months~ 1 year to be fully functional. (which's fine)
3. Construction within NC premises would continue for next 5~10 years.
(BUT, the cluster in which I am planning to book the flat should be free from immediate construction activities in about 1.5 years.)
Currently 4/9 buildings would be ready for possession from Jan~Apr -2014.
--- should not be a major concern IMO.

----------

Now the questions I have:

1. Should I be looking at some aspect I have not mentioned here?
2. IS this the right time to go in for a flat purchase (overall)?
I have looked at the Rent Vs Buy debates (given mostly with US considerations).
I have looked at threads discussing "bubble" burst possibility in India (since last 2 years).
But- with India's population increments / purchasing power of people in general / available housing inventories - what would you infer?
Chennai Housing drops 33%.
Bubble burst discussion in Indian real estate forum
Also, read about some offers coming up giving 7.5 % interest for first 2 years on Home loan (SBI is one of the banks offering this!, other one is HDFC)
So- what is all of this indicating?
I am not able to draw a convincing conclusion from this.

3. Would it be safe to wait out for some time - or perhaps wait for the economy to go down a bit(?).
Like - If I wait for 2 years and save some more - would it be any better then? What would I lose/what would I gain?

4. Perspective on NC please. Any alternative to this (wrt my requirements) would be highly appreciated!

-----

I understand that I have taken a lot of your time with this post.
Appreciate your help (in advance).
If I could get some inputs/advice, It would really help me a lot!

Good day!

Ace.

[ak916]

Originally Posted by avisidhu

Since there has been a discussion about choosing between 2 or 3 BHK, I would really like to know what you guys think. For a couple without a kid currently or maybe even a toddler, how much sense does it make to buy a 3BHK if your parents are not staying with you?

If you asked someone whether to buy a 3 BHK or a 4 BHK, they might ask you to go for a 4 BHK. The same thing if you ask between a 4 BHK and a 5 BHK penthouse. Like someone replied to you already, we all feel its good to make ourselves future proof. In reality, the only key factor should be your paying capacity today. Don't think about tomorrow's income. Today you have to pay the EMI. Nobody that suggests you to buy a bigger house will actually pay for your EMI for the extra bedroom. Conversely, if you have guests, people who suggest you to buy a 2 BHK, wont accommodate your guests in their houses. This is a matter of what is good for the goose, may not be good for the gander.

Personally I don't think it is a good idea to "stretch". Buying a new house should not bring you closer to misery. As much as people say that it is worth "struggling" a bit for that new house, I would say that it isn't worth it. Also, the bigger the house, the more "stuff" you would buy to fill the house and that will cost more money too.

So, I would strongly suggest you stick to a budget. The market is not in a boom now. Don't be shy. Bargain like you are in a vegetable market

[shankar.balan]

Originally Posted by ak916

If you asked someone whether to buy a 3 BHK or a 4 BHK, they might ask you to go for a 4 BHK. The same thing if you ask between a 4 BHK and a 5 BHK penthouse. Like someone replied to you already, we all feel its good to make ourselves future proof. In reality, the only key factor should be your paying capacity today. Don't think about tomorrow's income. Today you have to pay the EMI. Nobody that suggests you to buy a bigger house will actually pay for your EMI for the extra bedroom. Conversely, if you have guests, people who suggest you to buy a 2 BHK, wont accommodate your guests in their houses. This is a matter of what is good for the goose, may not be good for the gander. Personally I don't think it is a good idea to "stretch". Buying a new house should not bring you closer to misery. As much as people say that it is worth "struggling" a bit for that new house, I would say that it isn't worth it. Also, the bigger the house, the more "stuff" you would buy to fill the house and that will cost more money too. So, I would strongly suggest you stick to a budget. The market is not in a boom now. Don't be shy. Bargain like you are in a vegetable market

What an excellent, common-sense led approach!
Absolutely right.
Better not to live on too many 'Great Expectations' but to cut one's coat according to the cloth one has right now. Else wait a bit till the earnings meet the aspirations.

[Ritzvxi]

Originally Posted by driverace

Ohkay! This is going to be a (really!) long post.

Things I am looking for, in my "residence" flat:
1. Spacious 2 BHK within a developing/developed environment.
(Me n wife would be staying here. Newly married. Not planning kids for quite a few years, atleast)
2. Should be in the process of appreciation - so in case I decide I WANT to settle in Mumbai / buy a flat there, I should be able to do that - in 3 years or so..
3. Peaceful / slightly far away from city ( incase I dont shift to Mumbai - and decide to stay here for next 5+ years or so.
4. Good community around / ample activity area / open spaces / landscaped etc. (tennis court would be nice to have nearby.. since lately I have developed a liking for it & helps me keep fit too, since i am not much of a gym-person)
5. Lastly - easy access to Mumbai-Pune highway/expressway would be good to have.
My better half is a freelancer artist - who has to shuttle to Mumbai typicaly 3 times a month ( varies from 2~4+ visits a month ).

Hi Ace,

We're probably sailing the same boat in the same city!

I surely don't have the right amount of knowledge and experience to answers your queries. But, I would like to ask you, if you have considered Hinjewadi (Kumar-Ecoloch, Paranjpe- Blue Ridge, Kolte Patil - Life Republic) /Wakad/Punawale areas.

If you have, what are your thought on these locations?

I thought of these areas, as they are closer to NH-4 and E-way. So would be convenient for you better half and I think that Hinjewadi has relatively more IT companies than any other place in the city (Presuming that you work in IT).

[mxx]

Can anyone suggest a good real estate agency in Trivandrum? I have a commercial plot for sale

[ghodlur]

Originally Posted by amtak

Guys, what do you think about Lodha Palava? I had invested here in 2012 for a 1 BHK property and the cost is already 42+ lakhs. As of now, this city has nothing but in the coming years, I am expecting it to be the next Powai of suburbs.

Had recently been to the Property expo in Thane and visited the Lodha stall. Was pleasantly surprised to note that Lodha offers a huge 1BHK where the built up is 700+ and the carpet is 500+ sqft. The layout was mesmerising. The possession of the buildings will be the last quarter of 2016. Even I am thinking of a 1BHK which is 40L+.

The other mode of investment I was looking is buying a NA plot near to Shahpur, lots of exciting projects advertized by Disha Direct, Soft Corner. The plots are pricey but I feel the next development phase would happen outside the city limits of Mumbai/Thane. Any ideas what does one need to ensure when buying a NA plot?