Is 3 Marla House a Valuable Asset?
The world has become a global village and having your home in such an accelerated time is very important and highly recommendable. The world is currently confronting urbanization and the market of real estate is flourishing day by day. The housing societies offering small home investment is prevailing everywhere. The green fields in villages are cut to make housing societies and this trend is briskly followed by every landlord. This is because they find it more profitable and growing than their green fields. The prices of houses are touching the sky day by day, that why most of the people are compelled to buy the 3marla houses. One can hardly think to buy a 1 Kanal or 10 Marla house nowadays due to high inflation rates.
The economy of Pakistan is falling and the value of Pakistan currency has drastically fallen down. In the current situation, which is spread like a fire in a forest, it’s not easy to buy or even built large and spacious houses. As technology has advanced in many fields of life, similarly, the architect and construction fields have also thrived and are creating eye-catching and astonishing buildings and homes even in small spaces. Hence, 3 Marla house investment is not a bad choice for making homes or investments.
Diversified Features of 3 Marla Houses – Small Home Investment
The 3 Marla houses cover various features and aspects. As we know that 3 Marla houses have become the necessity of the time, so building such a house is the very ideal decision. The 3 Marla houses are very surprisingly designed and planned and can adjust the garage, lounge, living room, almost 2-3 bedrooms, and bathrooms. Mostly densely populated areas such as Lahore, Karachi, Multan, Peshawar, Islamabad are seen flooded with the 3 Marla houses. Due to its high demand and trend, the Federal Board of Revenue has exempted tax for 3 Marla houses and plots. Moreover, it’s very reasonable for low-middle-income families.
If a question comes to your mind that how to invest in a small home. So, before the construction of your house, it’s very significant to know to prepare the budget plan as it would help you to understand the total expenditure. This expenditure for 3 Marla house investment would obviously be less.
Every place has its own pros and cons. If its advantages are more than the disadvantages, then it should be chosen. The 3 Marla houses/small home investment is giving the best opportunity and are a useful source of accommodation for many families. These houses are utilizing fewer energy resources such as low utility bills, require very fewer costs for maintenance, provides more comfort and security. These houses are very less chaotic. The most emergent fact about 3 Marla houses is that they are very economical. You do not need to invest your all life savings just to buy a home. You can easily manage the expenses of 3 Marla homes.
Benefits and shortcomings of 3 Marla homes
The three Marla homes have a long list of advantages but on the other hand, it also holds some disadvantages.
There are many advantages of the small home investment such as;
People prefer to live in 3 Marla houses find 675 square feet more appropriate. Nevertheless, the most noticeable motive for choosing the 675 feet square ft. is its inexpensiveness. The construction components, land, and raw materials in Pakistan have reached maximum pricing due to which people are discovering different ways to survive and meet their expenses. This can also result in reducing the costs of land.
The most common reason for opting for the 3 Marla houses is its easy approach to finance. It is a fact that Pakistani people find it easy to finance the small house of 3 Marla through different ways such as financial institutions and banks. Banks provide loans inflexible and easily payable episodes for buying the homes or plots. Moreover, if you are a government or private employee and have good earnings, you can easily buy or rent a beautiful and furnished 3 Marla home.
Furthermore, if we muse on the purposefulness of 3 Marla houses from the viewpoint of energy usage, you will find it more economical and efficient. The costs for the maintenance of the house are low. The cost of fitting objects or any other type of renovation would be cheaper and manageable in your budget.
The maintenance costs of 3 Marla houses can be ample but still, it would be cheaper than a large house. They are easy to manage. These small houses remain very cool during the summer season and the use of electrical appliances such as air-conditioners or air cooler for a small-time would help them to lower the temperature.
Everything comes with its shortcomings and the same is true for 3 Marla houses. Although these houses are very economical, energy-efficient, and easy to maintain, they also have many faults or drawbacks. The small houses often lack the proper ventilation system and result in breathing problems and other respiratory complications such as asthma.
Furthermore, these houses provide no privacy to anyone at home. They get messy and are incapable to manage large families or host an event at home. These houses provide very small living space and often made you feel suffocated and lethargic. These houses do not have exposure to open air and act as sick buildings. The 3 Marla house cannot provide your luxury kitchen and bedrooms. Due to less storage space, residents find it difficult and irritating to adjust their belongings properly.
The trend of cutting the green fields and spreading the houses societies everywhere in villages and cities has welcomed urbanization. Due to widespread urbanization, the environment is getting destroyed. Moreover, people are getting sick due to smog, adverse consequences of climate change, and greenhouse gas emissions.
Benefits of a Small Home Investment
The current situation is very alarming as the trends are changing very abruptly and briskly. The inflation rates are getting higher and higher. Everything is getting costly and most people are living hand to mouth. To combat the current situation, it’s better to have a backup that we can use in urgent needs of the time. The wise people save and invest in some useful sources that can prove to be fruitful when they need. There still exists confusion about the investment, but the benefits of small home investment are undeniable and irresistible. There are a lot of benefits to a small home investment. Following are the benefits and the comparison details:
Purchasing Versus Renting
If we compare the buying and renting of homes, then buying a home holds more evenhandedness than renting. When you purchase a home, you enjoy many benefits such as tax deductions and credits. When you rent a home or a property, you pay someone else mortgages that are not wise enough. There are some cities in Pakistan, where renting is not significant and economical than buying, but with perceptive of investment, the ownership of real estate would help you to pass your wealth to next generations.
Buying a home is a very secure investment. It has proven to be a great inflation hedge for protecting against the loss in buying power of the dollar. The values of homes have been on high trends recently. The reason is the value of your home always increases with time, which ultimately enhances your wealth. It’s a great asset because if the price of your home rises above the actual buying price by the time of selling it, you can earn ample profit out of it.
Building Small Home
You can get a lot of profit by building a small home, renting it, or selling it after some time. If you have the amount and want to invest it then invest it in building a home. Once you build a small home, if that time the real estate market is falling then you can temporarily give it on rent and as the prices get high you can immediately sell it. In Pakistan, this trend has been set and people who are moneyed and establishing residential societies compromising of small homes such as 3 Marla and getting higher profits and gains out of it.
You don’t perceive the securing vibes while investing in the market. When you wisely invest in real estate and hold it for a long time, you get an appreciating asset. Several people capitalize on real estate to complement their retirement income. If you are owning a property at your retirement and getting cash in form of rent or you sell your old property, you actually enhance your retirement income. It is fact that many people get safe and secure feelings while investing in real estate.
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