Size is the dais on which the major courses of your life depend. In order to make the maximum optimisation and utilisation of the available space, it is imperative to determine the ideal size for your home. Thus, irrespective of the actual use of the property, deciding the ideal size can be a herculean task. If you are one of those puzzled and wondering what size of property is ideal for your investment, then let us assist you.
Here are few tips that will strategically guide you to decide the right size for your property and help you make the most of your investment.
Family size: The space required by a family is the foremost factor to consider coupled with factors such as family size and age of children. While families with teenagers and adults prefer separate rooms, joint families prefer 3-4BHK apartments to move in. If you have any plans to expand your family, opting for a bigger apartment will be the right move for you.
Leave adequate space to grow: Purchase an apartment that suits your future requirements and promises no space crunch in the days to come. Always look for a home that has scope to expand or enlarge. Ensure that the selected property has the option for renovation or alternate non-load bearing in coming days.
Want guests? While deciding the ideal size of your property, contemplate on the fact whether you like guests or not. If you entertain guests and do not have a problem keeping them overnight, then you would require an additional room, in order to avoid any kind of discomfort. If you like to live private, select the size of your home according to your needs.
Requirements of your family: If a certain member of your family needs additional space, like an extra wide hallway for children, you need to opt for a bigger home. Select a home that meets the needs of every member of your family.
Leisure amenities: Outdoor leisure amenities, is an aspect that cannot be overlooked while determining the size of your property. Whether it is a lanai, porch or swimming pool, while determining the size of your property asses how much time you would like to spend outdoors.
Think long-term: While determining the size of your property, select the one where people can stay for several years. Purchasing and moving into a new house is a time-consuming and tiresome task, and adds up significantly towards costs. Hence going for the long haul is highly recommended.
Flexibility is the key: Make sure that the house plan offers flexibility and you can convert a bedroom into a nursery, home office or den. Consider a place that lays before multiple functions, so that you can use the home for a number of purposes. Such places are always in demand by the end-users.
Market absorption rate: If you are buying for an investment purpose, determining the size of the property that is absorbed quickly in the market is very crucial. Conduct a thorough market research and find out which among a 2BHK apartment, 3 BHK apartment, 3BHK duplex, 4BHK villas, 5 BHK villas, villaments or Row houses is absorbed quickly in the market. However, invest in the quickly absorbed property size depending on your investment range.
Is your property in demand? Being an investor, set your target to a particular section of buyers and purchase accordingly. Make sure you invest in a property whose size is acceptable by the targeted users and is in demand. It is also important to decide till what time you are willing to hold on to a property, so that you can sell it off when time calls.