House Vs Apartment: Which one is better?

When it comes to purchasing property, there’re many challenges that a home buyer or investor has to face such as what is the right time to make an investment and which one is best, an independent house or apartment? An accepted norm for purchasing property is to select the one at wonderful location because it will give a better appreciation on your investment.

Image result for apartment vs home

The sky-high rates of independent houses or properties are compelling people to choose the apartment instead of a house. Usually, people prefer apartments because these’re slightly cheaper than independent houses. That’s why owning an apartment is considered as easy entry into property ownership. The decision to live in a house or apartment is entirely up to you. Before making a buying decision, consider these marked differences between two:

 Amenities comes at a cost
By owning a house there’re several things that come with a house like painting, repairing the gutters, general maintenance of the house and security concerns. All these things need extra cost.  While in the case of apartment, all these things are managed by the developer for some years and later apartment residents’ association handle all these things. Additionally, apartment property comes with amenities like parking space, water system, power back-up, fire safety mechanism, security and many other things.

Maintenance & Repairing  Cost

By owning an independent house, your house property constantly needs maintenance, construction, cleanliness and repair.  So, it is significant to keep in mind the cost of house maintenance every year. While in apartment property, all these things and maintenance are taken care by the society welfare associations. So, the services cost reduces significantly and take less time in apartment property. Many surveys have shown that the cost of maintaining an independent house is greater than that required for an apartment property.

Mortgage

If you’re buying property by taking loan from the bank, then it’ll be easier for you to get loans for an apartment than the independent house. The lending is difficult in the case of independent property due to the share of uncounted cash component. Moreover, it is also difficult to determine the exact value of an independent house because the prices are fluctuating.

Saleability

Researches and surveys have shown that now apartments are now in more demand than the independent house. That’s why developers are focusing more on apartment projects and bringing apartment projects with a mix of plotting developments. So, it is significant to consider the resale value of a property before you make the decision to purchase it. Whenever you want to sell your property, it would be easy for you to sell an apartment due to its high demand.

Buying an under construction property


If you’re thinking to choose the property which is under construction, remember there’re many challenges that you’ve to face. If you’re planning to buy a plot, then construct it then consider things that it’ll take long time and its tiring as well. However, in apartment property, such problems will be reduced drastically but you’ll be at developer’s mercy; meaning that it depends on him whether he completes the project on time or not.
SHARE

0 comments:

Post a Comment