Pune is a vibrant, young, and happening city that has experienced tremendous growth over the past decade. Traditionally known as the ‘Oxford of the East’ due to the many top-class educational institutions that the city is boasts, today the Pune has become an in-demand destination for young professionals looking for excellent job opportunities. Recently, Pune also ranked second in the list of ‘Ease of Living Index’ and it should come as no surprise to anyone that the real estate market of Pune is also going through a meteoric rise! If you are a first-time property buyer and are confused about whether you should buy 1BHK in Pune or rent the apartment, this blog will clear every doubt that so read on!
Factors to Consider Before Buying or Renting 1bhk Apartments in Pune
Budget housing is a popular sector in a city like Pune which has many students and young professionals migrating for better opportunities. Today, one can easily find 1Bhk flats for sale in Pune according to different budgets and specifications. But if you are undecided about whether you want to buy the apartment or rent it, here are some key factors that will help you make the right decision about affordable 1bhk flats in Pune.
Capital Required
There’s no denying that money plays an important role in every decision that we make. With real estate experiencing a gradual rise, there are plenty of options for ready to move 1bhk flats in Pune but the decision to buy or rent the apartment will depend on how much capital you have accumulated for the investment.
If you are looking to buy 1 bhk flat in Pune with financial assistance via a home loan, you will still need close to Rs. 5, 00,000 to pay for the stamp duty, registration, GST, and down payment. The amount may also increase if you are planning to scout for luxury 1bhk flats in Pune.
On the other hand, if you wish to rent a ready to move 1bhk flats in Pune then you will only need a nominal amount as a deposit to the owner of the property and pay for the rent registration agreement. Thus, if capital is your main concern then renting is the way to go!
Short Term vs. Long Term
Another important factor that will help you decide whether you want to buy or rent affordable 1bhk flats in Pune is how short-term or long-term your plans of living in the city are.
Long-term: If you are sure that Pune is the best city for you and your family and are looking for the top best 1 bhk flats in Pune, then buying the property is the best decision you will make. Not only is the real estate value of the apartments in the city growing consistently, but the city also offers great options for education, commerce, and employment.
Short term: On the other hand, if you are sure that you may not be staying in the city for a long time, then you should rent 1bhk ready to move flats in Pune as it will allow you the liberty to move when the time comes without having to worry about large investment in the apart. This is the perfect option for students, young professionals, and migrants who have come to Pune and wish to relocate back to their hometown in few years.
As an expert in real estate, I can vouch that there are multiple great options of 1Bhk flats for sale in Pune and whether you decide to buy or rent the property you shall make a wise decision as it is a promising city to live in! I hope that this blog was informative and helped you make the right decision.