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What Questions Should An Investor Ask Before Investing In A Nano Home?
Can you dwell in a small space? Remember, a small space will not accommodate an extended family. Nano homes are only for the nuclear family. If you are a couple planning a family in near future or are already a family of four, this may not be the right choice for you
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The concept of a nano home is just dawning upon the Indian real estate market. While the notion of nano housing has been a popular and constant feature in the West, especially the USA, the logic of it is only just becoming popular in a country like India where the investor is absolutely obsessed with being able to own a home.
The industry is moving towards affordable housing not just in the hinterland or developing areas but somewhere as central as Chembur in Mumbai. Xrbia is showing the way with Chembur Central a millennial-friendly abode starting with houses as little as 189 square feet but packed with modular furniture and township amenities.
I guess the biggest and the most important question to understand and answer is then obviously what a nano home is. Imagine a home with a room leading into another all under the ambit of roughly 200 square feet. A home, where a modular table opens up for dinner which then converts into a bed for the children or the guest. A home, which may be small in size, but easy to maintain and coupled with the best township amenities including jogging tracks and swimming pool and gyms and clubhouses. That, dear investors, is the ethos and beauty of a nano home.
Another question frequently asked is if the real estate climate in India is suitable for a nano home. This movement of nano homes, if adopted by India, can help fulfil its dream of 'Housing for All' by 2022. More homes could be constructed in a given space, giving a roof to a larger population. Moreover, this concept can prove financially viable for those for whom a home of their own remains a far-fetched idea for their whole life.
Now that you have asked a couple of obvious macro questions, how about asking yourself some of these more intuitive and personal questions more often than not subjective in their nature.
Can you dwell in a small space? Remember, a small space will not accommodate an extended family. Nano homes are only for the nuclear family. If you are a couple planning a family in near future or are already a family of four, this may not be the right choice for you.
Can you do with less? Are you comfortable with a home that has only one bedroom and a bathroom? Invest in a nano home, only if you can survive in a space where there is literally no room for too many materialistic possessions.
Can you share? Nano homes are not only for nuclear families. In fact, they are better suited to share with another paying guest. You can further reduce your finances by sharing the bills, money spent on repairs and other things.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.