Buying houses or property is a big investment. Whether you intend to buy a home for yourself or purchase property for resale or to rent it out to tenants for getting a considerable income, a very important question that comes up is
Apartment vs Independent House which is better?
Let us list the pros and cons of both the two, so that individual investors can decide for themselves which one is suitable for them, based on their unique priorities.
Here are the merits and demerits of apartment vs independent house:
Aspects of Apartments
Apartments can be considered as the need of the hour because nowadays there are a lot of old couples who are alone and their children live abroad. These couples when living in a society can get companionship and support.
A greater amount of security:
In apartment complexes by Vasavi builders Hyderabad, the residents stay very close to each other and often they even share walls. If a resident cries for help to go through any accidents, it is more likely that the neighbors will notice these and come for help. In apartments, the people live in close proximity with each other, and this helps to put off criminals, which makes apartments safer.
In apartment complexes, neighbors live close to each other therefore there is a higher chance of it becoming a close-knit community, akin to a big family.
Greater chances of getting tenants:
Usually, the ones looking to rent a place look for smaller units. Therefore if you invest in 3 bhk flats for sale in Hyderabad or you can look for flats for sale in LB Nagar it will be easier for you to find tenants, as opposed to if you buy an independent house.
Privacy is limited:
People living very close to each other means there are reduced levels of privacy. Sharing walls lead to a lot of noise and other disturbances.
Limited ownership of land:
When you buy a flat, you just own the unit you purchased and whatever inside it. In terms of the amount of land, you have a small share.
Apartments are crowded. Common areas such as gyms, pools, etc are likely to be crowded during weekends and holidays.
The higher cost of maintenance:
Elevators and other amenities mean that the cost of maintenance of apartments is pretty high.
Aspects of Independent Houses
A lot of space:
Independent houses’ weight is better in the apartment vs independent house debate by the fact that independent houses are spacious inside the walls as well as outside.
Better as a long-term investment:
Compared to apartments, independent houses yield better returns in the long run (in 7 years or more).
The amount of privacy you get is much more than apartments.
In general, independent houses or villas are located more remotely when compared to apartments. Therefore the atmosphere of the houses has lesser levels of air and noise pollution.
Obviously, independent houses are more expensive than apartments. An independent house is double or triple the price of an apartment in the same area.
Hard to get tenancy:
Tenants usually look for places right in the heart of the city, where villas aren’t usually located. Hence it becomes difficult to rent an independent house out. Even if you do get tenants, the yield will be low.
Maintenance is difficult:
In apartments, multiple heads come together to carry out the maintenance. In the case of independent houses, the owner has to do it on their own, which is pretty difficult.
Possibly unsuitable location:
Usually, independent houses are located at isolated places which are far away from the heart of the city and the residents might need to travel long distances for going to offices, schools, markets, shopping center, etc.
So, from the above points we can conclude that if you wish a buy an apartment or an independent house, both come with its own pros and cons. Depending on your expectations and convenience, you can choose the property of your choice.
To know more about Flats for sale in LB Nagar click here.