When Hema and her husband, Uday Singh, were purchasing real estate for their own use, they were face with a choice: should they spend Rs 2.5 crore on a 3BHK that they truly love, or should they spend about Rs 1.6 crore on a 2BHK in Nerul, Navi Mumbai, for which they were financially prepare? Choosing the latter would have stretched their budget by over 90 lakh, which would have affected their savings to some extent. When looking for a home, the majority of buyers run into this issue. This guide outlines factors to take into account when deciding between a 2BHK and a 3BHK. When comparing a 2BHK and a 3BHK, there are advantages and disadvantages, and the buyer’s lifestyle, finances, and personal tastes ultimately determine which option is best. To assist you in making a decision, we will examine the advantages and disadvantages of both 2 and 3 BHK flats in further detail in this post.
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What is a two-bedroom apartment?
A two-bedroom apartment consists of a kitchen, a corridor, and two rooms. According to industry data, these are the most popular dwelling layouts for end users, particularly among first-time purchasers. Those with small families frequently choose this option.
What are a two-bedroom apartment’s benefits and drawbacks?
| Benefits | Drawbacks |
| For both end use and investment purposes, a two-bedroom apartment is an appealing real estate option because it is less expensive than buildings with larger configurations. | There will be a space constraint for a growing family of four or more, particularly in these modern times when people need an office setting in their home because they work from home. Additionally, privacy will be compromise when there are visitors in the house. |
| The 2 BHK is easier to maintain because to its compact design. | In a two-bedroom apartment, the available storage alternatives will be limit. |
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What is a three-bedroom apartment?
A three-bedroom apartment consists of three rooms, a kitchen, and a hall. According to industry reports, customers first consider a 3BHK before looking at other possibilities when they’re looking for an upgrade. This is a common option for those with five or six family members.
What are a three-bedroom apartment’s benefits and drawbacks?
| Benefits | Drawbacks |
| Compared to a 2 BHK, a 3 BHK gives more space and the possibility of an additional room. | This additional space alters the configuration, which in turn alters the price. |
| There are numerous storage choices due to the additional space. In the house, one can also set up their study, home office, etc. | Because of its large space, a three-bedroom apartment requires some maintenance. |
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What aspects should you take into account when deciding between a two-bedroom and a three-bedroom apartment?
Spending limit
A budget is crucial, and in order to choose that stretch, you need be financially secure. A typical question among homebuyers is whether it is worth the Rs 1 crore to add another room. Keep in mind that a 2 BHK has a lower buying price and monthly EMI than a 3 BHK. However, if you consider the long run, it would be wise to go for that stretch if your family grows, as later on there might be fewer options available and costs might increase. However, take note of the effects that this choice will have on the required down payment and EMIs, and make an appropriate choice based on that.
Space needs
Young nuclear families or first-time purchasers are well suit for a 2 BHK since it offers a desirable arrangement at an affordable price. A 3BHK, on the other hand, offers that additional space that can be use as a study, home office, or guest room. Additionally, you must carefully consider the facilities included in each arrangement to determine whether you can afford the additional room you are purchasing.
Loan sum
The choice between a 2 and a 3 bedroom apartment is heavily influence by the loan. A 3 BHK is a fantastic option if you can find a house loan with reasonable interest rates. Selecting a three-bedroom apartment might not be the best financial choice if the loan amount is smaller and the interest rate is higher. Instead, you might want to look at a two-bedroom apartment.
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Rate of inflation
Prices will rise since the rate of inflation is strongly correlate with the rate of building, financing, etc. Experts advise that you can still choose the three-bedroom apartment if the pace of inflation is normal. However, staying with a two-bedroom apartment is preferable if the rate of inflation is significant.
Where
When purchasing a new home, look at things like if it has access to fundamental amenities like schools, hospitals, retail malls, and accessibility to other locations, among other things. Examine the local demand for 2BHK versus 3BHK and make your decision.
Prospects for the future
Even while a two-bedroom apartment could be plenty in terms of space right now, you might prefer the flexibility of a larger area in the future. Be aware that it’s best to reconsider your alternatives if you intend to purchase a two-bedroom apartment now and upgrade five years later. This is due to industry analysts’ belief that, with land saturation becoming real, what may be a minor stretch now will be much more in five years. Additionally, it is quite difficult to secure a configuration upgrade in the same property or at that location if you are purchasing a property for end-use.
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Upkeep
In a housing society, the configuration of the dwelling determines the annual maintenance expenditures. Compared to a three-bedroom apartment with a larger carpet area, a two-bedroom apartment with a smaller carpet area will have lower maintenance costs. Additionally, maintaining a 2 BHK is simpler than maintaining a 3 BHK. However, the availability of more room is usually appreciate, which makes 3 BHK the prefer option.
Tax on real estate
This is a yearly tax that must be paid to the municipal government. A 3 BHK would pay more in property tax than a 2 BHK since the area of the house is one of the elements used to calculate property tax.
Market appreciation and resale value
It’s wise to look at the demand for both in the resale market before deciding between a 2 BHK and a 3 BHK. According to industry projections, a 3 BHK’s resale value and appreciation rates will be higher than a 2 BHK’s due to the growing need for greater livable space in premium locations that are mostly populate by working class and business people.
Demand for rentals
In most regions, there is a greater demand for 2 BHK rentals than 3 BHK rentals, particularly among city-dwelling tenants who want to stay for two to three years before moving out. Additionally, people initially choose a two-bedroom apartment if they are a small family consisting of two adults and one or two little children. However, in order to provide space for everyone, persons with larger families—parents and adolescent or adult children, etc.—usually rent out 3 BHK apartments. However, because a three-bedroom apartment offers more space than a two-bedroom apartment, its rental value is higher.
Bills for utilities
The utility expenditures for a three-bedroom apartment will be greater than those for a two-bedroom apartment because the three-bedroom apartment is larger. However, utility bills can be control when energy-efficient choices are available.
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The buyer’s option
You can choose a two-bedroom apartment if you’re a minimalist who doesn’t mind the layout or if you need additional space. Planning, saving, and purchasing a three-bedroom house is a smart move for someone who is really particular about having a large home.
Even while a three-bedroom apartment could seem quite enticing, if you choose it hastily, you might end up paying too much money, which will lower your quality of life. Additionally, there will be waste space if you don’t know what has to be done with each room, which could indicate that the costs were unnecessary. On the other hand, a two-bedroom apartment has drawbacks including privacy concerns when there are more than four people living there, a small appearance after the interior and storage are finish, etc.
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