In these ever-changing times, people have started spending more and more on luxury items. The most significant of those is a car. It's not just a means to an end, it is also a status symbol. With the growth and prosperity of the family, eventually, there arises a need for a second car, and with the dense population of metropolitan cities, it's better to plan for a convenient parking space for it.
Here are a few reasons why you should invest in more than one parking space when buying a flat or apartment in a group housing society, especially in populous cities like Delhi, Ghaziabad, etc.
Prosperity of the family: One should always be hopeful and should expect that with time they will do better in life and eventually have the income to fulfil self-esteem needs such as having multiple cars.
Growth in family size: As the family grows in size and age, there arises a requirement for multiple vehicles in the household that needs to be fulfilled.
Guest Vehicles: A second parking space is a great place for your guests to safely park their cars as most societies nowadays don't offer guest parking facilities or only have limited guest parking
Convenient parking space: If you don't plan ahead and go to buy a second parking space later in life, then the spot that's allocated to you is likely to be far from your apartment or on the opposite end of the society, as per availability (if any).
Rental Income: Recently a growing trend has been witnessed in the Ghaziabad and Noida regions of Delhi NCR where people are renting out their spare parking space to people who didn't plan ahead like they did. This is a great use for the space until you're ready to put that space to use.
Cheaper: It is cheaper to buy the parking space with the flat when you're first buying the apartment since you have more room to negotiate on the price as it's part of a much bigger deal. This will help you get extra parking space at a great price.
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