Shravan Gupta
Mumbai: There has been a significant shift in how people view the house. The day when having a huge home was the norm has long since passed. This is no more the case as individuals now prefer to invest in high-end small residences with one or two BHK Apartments. The tiny housing trend will continue to grow through the end of 2023, predicts industry analyst Shravan Gupta of MGF Group.
This has been made feasible by several factors. Some of these are specifically related to the generation of today. The hectic lifestyle, evolving mental processes, and work culture are the main causes of this. People no longer desire long commutes for employment. They would rather reside close to a commercial district or their place of employment. If doing so necessitates living in a modest home, so be it. From this perspective, the small housing trend is on the right road and has a very bright future.
There are several hidden benefits to living small. According to Shravan Gupta of the MGF Group, the primary selling feature of tiny houses is their affordability. Buying a little house seems like a smart move for someone on a tighter budget who wants to live close to their place of employment. Smaller homes are more affordable and in high demand than larger ones. It is perfect for someone whose main motivation is investing. As a result, it will be more valuable if someone decides to sell it again in the future.
A favored and simple approach to purchase a property is with a home loan. Shravan Gupta, MGF Group, and other real estate specialists believe banks readily approve loans for smaller properties. Additionally, because there is a decrease in EMI, repayment is made simpler. That’s not the case when purchasing a big house. Therefore, if one wants simple loan repayment alternatives, it is preferable to invest in small residences. In addition, small houses are now again in demand.
Several things are responsible for such a change:
Lifestyle choices.
Proximity to the City.
Ease of Transport.
They are essential when someone is buying or relocating to a new city. The convenience of places of employment, stores, and educational institutions is the major advantage of residing close to the city centre. These encourage first-time buyers to choose for smaller homes as opposed to larger ones. According to Shravan Gupta of the MGF Group, compact housing is the future of the housing sector. The bulk of investors will be drawn to smaller homes since they are located in gated communities with amenities like stores, parks, and access to the outdoors.
Metropolitan areas like Delhi and Mumbai, in their opinion, are key marketplaces and trend-setters for small houses. In recent years, one has noticed significantly smaller residences.
A tendency that had decreased is now increasing once more. Therefore, it would be accurate to state that small houses are the future’s trend and the subject of 2023.
