Why Buying a 2 BHK Flat In Kochi Is a Better Choice Than Renting One?

23 DEC 2022

The emerald green stream of the Backwaters locally called “Kayal” which runs throughout the main city is one among the many images that comes to the mind of people when talking about the city of Kochi. In earlier times, it was a princely state under the Kingdom of Cochin and played a crucial part in the commerce of spices, coir, and fishing products in India before independence. The Portuguese then took control of the city. Kochi’s colonial-era structures, historic temples, charming markets, and its constantly expanding art scene are examples of how several cultures have affected this city. The Kochi tech boom has improved the state’s economy and helped create several jobs. The growth of the city as a commercial center has sparked a significant amount of development in the real estate market, from opulent highrises and villas to budget flats in Kochi.

Buying one’s own residence is an achievement like none other, it brings with it a sense of liberation and freedom also roots oneself in a particular environment while guaranteeing utmost privacy and security devoid of interference from anyone. It is here that a person relieves himself from all the rent payments into ensuring something tangible. Renting can be a strenuous process and can deeply affect the quality and liberty in a person’s life. Here are some of the reasons why buying a 2 BHK flat in kochi is better choice than renting one:

Growth As An IT Hub

Kochi serves as the state’s IT industry capital. The creation of Info Park and Smart-city signalled the beginning of the city’s IT boom. Nearly a lakh people are employed by the IT campuses right now, giving techies and other workers in related fields a lot of opportunities for employment, career advancement, and growth. Other advantages of residing close to the IT Hub include a shorter commute and a better work-life balance. It contributes to Kochi’s year-round high apartment demand, which makes purchasing a home economically and practically sound.

Growth in IT Hub

Investment angle post COVID

Finding a permanent home and stable housing alternatives is of the utmost importance to those who have seen their money severely eroded by the Pandemic. During that time, real estate has shown to be a reliable form of investment. Many tenants were asked to leave their homes during the epidemic, which invalidated the rent agreements and eventually resulted in lawsuits. Additionally, people are open to upgrading their way of life and are looking for more upscale, secure houses. Therefore, a variety of variables, including a change in the city’s demography and the unpredictability of rental pricing, can be blamed for the increased demand for luxury flats in Trivandrum.

Customization And Renovation 

Customizing a home to suit one’s requirements and comforts is the nicest aspect of home ownership. But even minor alterations like changing the lights or adding a nail to the wall require clearance if you’re a tenant. The landlord might agree to the changes you wish to make, but you won’t gain anything unless you stay there. At the time of moving out, the majority of modifications one makes to an ernta property would be irrecoverable. Any alterations you make to the house you own are long-term investments. Any changes you make to someone else’s house provide them with long-term benefits while providing you with extremely short-term gains.

Annual Rental Increase

Rent can go up by as much as 10% annually. This is a result of the nation’s rising inflation rate. This might increase a person’s financial burden while doing little to increase his net worth. Most first-time purchasers avoid the real estate market out of worry for the future. It’s important to avoid being overly scared as a result of transient political or economic problems. House is well known to constantly produce positive returns over the long term and eventually outperform the costs of renting a property while increasing a person’s assets.

In a city like Kochi, purchasing is ultimately a far better choice than renting flats in cochin. Kerala, and Kochi in particular, has experienced one of the nation’s fastest rates of population growth as a result of commercialization and rapid IT development. The appropriate builder can provide a home that is both opulent and practical, increasing in value despite inflation, making it a wise financial investment. Whitehouse, Pinewood, Pinnacle, Iris, Joinville, White Berry, and Oberon are perfect for working people looking for a peaceful and tranquil location to settle in where working people as well as other residents can work. Confident Group, one of the largest builders in Kochi, offers these communities to its residents. Make an appointment to see the properties soon to fulfil your desire for a magnificent residence in the queen of arabian sea.

 

Author - Confident Group

As the most trusted real estate brand in the nation, we at Confident Group strive to create a positive, smooth and transparent medium for potential home buyers with anything and everything related to home purchase. We provide informative and engaging articles which cover useful details across many verticals from the real estate sector. Our 2-decade long expertise in building infrastructure projects across Kerala and abroad backed by the trust of over 10,000 customers earned us the reputation of being the best as a real estate brand in Asia. We hope that our blogs will help in translating our experience for the prospective buyers who are looking for their dream home.

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