Understanding What Are the Difference Between Villa and Flat

When we plan to buy a house, the first thing we look out for is the location of the property. We all want our houses to be situated in neighborhoods which are safe and has all the basic amenities like markets, medical stores, etc. The second question which comes to our mind is whether to buy a flat or a villa. This can be a difficult decision to make because both flat and a villa has its own advantages and disadvantages.  In this post, we will provide a Comparison between villa and flats and help you to decide which one will suit your purpose better.

Comparison between villa and flats:

  • Amenities

When we talk about amenities it includes facilities like security set up, CCTV installation, power backup, water pumping facilities, etc. When buying a flat or a villa, these amenities come at a cost. The only difference is, in flats all the amenities are set up by the builder itself and it is charged in the amount of the purchase.

On the other hand, when you are buying a villa, you need to spend extra from your own pocket in order to set up these amenities. For setting up a security network and CCTV, you need to invest extra. Similarly, for power back facilities, you need to purchase a generator or an inverter. Overall, to add these facilities, you need to spend 2 to 3 % of your entire villa price extra. Not only you will need to spend extra, but you will also have to monitor their maintenance and have to check if they are working correctly or not.

  • Loan Facilities

Nowadays most of us are buying flats and villas with the help of a home loan. But did you know that getting a loan to buy an apartment is way easier than getting a loan to buy an independent house? Well, yes this is true and there are many reasons to back this.

When you buy 2 bhk flats for sale in Hyderabad in a gated property, the property is already scrutinized by the banks and all the paperwork is checked. So, when you apply for a home loan while buying a flat, the loan amount gets disbursed in no time.

On the other hand, if you wish to buy or construct a separate villa, the bank will scrutinize all the papers very carefully before approving the loan. The reason why banks take a lot of time and follow strict procedures before approving home loans for villas is that this type of property involves a lot of unaccounted cash transactions as well.

If you are buying land, then a bank will only give 70 % of the entire value. The rest of the amount you will have to give from your own pocket.

Similarly, if you wish to buy an under-construction villa, again it will be a tiresome task for you to convince the bank to give you a loan. Hence, if you want to experience a hassle-free home loan disbursal procedure, it is better that you should opt for 3 bhk flats for sale in Ameerpet Hyderabad instead of a villa.

  • Maintenance

Buying a home is not the end of expenditure. The real expense starts after you buy a house. If you purchase a flat in a gated community, then the maintenance is done by the committee of the flat members. All you need to do is pay your monthly maintenance fees and the committee will look work on maintaining the property. In a nutshell, the expense of maintaining the property gets divided among the flat owners hence it does not hurt the pocket much.

On the other hand, if you buy an independent villa,  then every expense will be borne by you. Whether it’s a problem with the power generator or leaking water pipes, you have to arrange for technicians and fix the problem at your own expense. If you are planning to buy a villa in a gated community, then you can form a committee and share all the maintenance expenditure with the villa owners.

  • Return on Investment

Whether we buy a home for investment or staying purpose, we always think of how much the property will be worth after 10 years. In other words, we all want to purchase properties which will offer us the best rate of return. When you compare the resale value of flats and villa, villas are obviously more expensive than flats. But flats are much easier to resale than villas. The primary reason is flats have many amenities which most of the villas fail to provide.

Hence, here are a few pointers which we used to portray the comparison of a flat and a villa. Hope this article has helped you to decide which property suits you the best.