India has seen a gradual increase in nuclear families over the past decade, making compact homes an exceeding trend in the realty market of the country. In metropolitan cities such as Delhi, Bangalore, Mumbai, where more than half of the population is working all day, compact homes represent a very significant part as they are closer to business districts, and above all an affordable investment. Additionally, the rising demand for housing spaces due to rapid urbanization and the struggle to sell expensive homes in a sluggish market is influencing developers to adopt a strategy of 'housing units with smaller sizes.' In fact, the concept of compact homes is taking shape worldwide.
A compact home is composed of a hall, bedroom, study, and a kitchen with washrooms and a balcony. These houses differ in size from 500 sq. ft. to 800 sq. ft. which is well-suited for a tiny family. Compact Living is conclusively smart living, where build space is inadequate, yet the quality of facilities and design remains high. In cities such as Delhi, Mumbai, Bangalore, Chennai, and Kolkata, the land is minimal and prices are steep, making the concept of compact homes scale up a lot.
Advantages of Compact HomesCompact homes are affordable
Prices of compact homes are relatively cheaper. The major advantage of owning a smaller house is that you can cut down your investment burden. It doesn’t matter whether you are a first-time homebuyer or someone who is planning to make a second investment, a compact home is the best option as they are less pricey. Not just this, these homes are equipped with all modern amenities that provide a contemporary living experience. People from lower and middle-income segments are always on the lookout for affordable homes. Hence, realtors too are now focusing more on the compact housing segment considering this growing demand.
Leads to better investment opportunities
Compact homes prove to be a practical option for buyers who cannot afford expensive houses. The cost saved by buying a compact home is a good opportunity to invest elsewhere, be it lifestyle goals or personal needs.
Compared to larger apartments, small-sized homes are convenient to maintain and are easy on the pocket as they greatly lower expenses like utility bills. Compact homes also enable its occupants to intelligently design their spaces to keep pace with latest home décor trends.
Smartly-designed to maximise space
Small-sized apartments allow optimal utilisation of space compared to larger apartments which usually lack space, leading to wastage of spaces. Compact homes are thoughtfully designed to accommodate everything, while ensuring that no space is wasted.
Compact homes in a gated community are an ideal choice for small families as it promises an enjoyable lifestyle along with many like-minded neighbours. Both children and elders will feel more comfortable living in a secure gated community rather than in large secluded houses away from the city. Gated communities are strategically located near to day to day facilities like schools, hospitals, supermarkets, etc ensuring maximum convenience for the residents.
Higher scope of resale
Compact homes are likely to have higher resale value, since these homes have a high demand and many prospective buyers in the current market. This implies that owners of such homes can exit their investments without any hassle, making a good profit, if they wish to relocate or move into larger homes.
Compact Homes In IndiaThe parameters that drive urban living in India have been changing constantly. Compact houses are increasingly becoming popular among home buyers as they offer more flexibility and convenience. Here are the top 10 compact homes in India:
With so many advantages to owning compact homes in well-connected neighbourhoods, this is one real estate market segment that will not only hold its own but grow exponentially in the years to come. Such a home is the ultimate place to live in, as well as a matchless performing asset from the perspective of real estate investment