Living in a low-budget house in Bangalore is good way to start your investments in the city. However, if you are looking for a long-term return from the low-budget homes, or planning to live in it yourself in the future, they lose their charm.
Here are 5 drawbacks witnessed in the low-budget houses in Bangalore.
- Low cost, but high maintenance
Low-cost houses are invariably the ones that will be made using low-cost materials—concrete, bricks, paints, steel and wood. Once complete, they do look alluring to prospective buyers, but do suffer from troubles. The expense that goes in their maintenance is hefty.
- Require 5-yearly assessment
The local developmental authorities have strict guidelines on low-cost housing societies. They have to be assessed for quality of construction, stability and service every 5 years. In case the project fails to deliver as promised, it might be scrapped or laid out on a redevelopment plan after 5 years.
- Home warranties may not be applicable
Taking a step ahead from the 5 year assessment, low-cost house for sale may not be covered in the Home Warrant schemes. It could be an additional overhead on the buyer if there is a maintenance issue related to wall cracks, plumbing and flawed flooring.
- Limited large house options
Single independent houses for sale in Bangalore for 30 Lakhs might seem an alluring offer, but it wouldn’t be as big as you want a villa, bungalow or row house to be. In fact, independent houses in this range feature at most 2 BHK with small storage and a terrace. Maximum size of the house will be between 650 and 1100 square feet.
- Far-flung localities
In Bangalore, top low-cost houses are available in localities like Hongasandra, Kambipura, Amruthahalli Bommanahalli, Narayanapura-Hennur Road, Bagalur Road and Varthur; which don’t exactly fall under the city centre limits.
The real estate market in Bangalore has come a long way and the lands on the outskirts of this city like are showing rapid development now, say property experts at Property.Sulekha.com.
There is a gradual increase in the property price in the city of Bangalore for the past few years, due to the mushrooming of IT companies here and the resulted real estate boom.