The decision to move into a personal space is pretty perplexing, especially when you choose between living in an apartment and owning an independent house. While you might base your decision on your needs and expectations, many people remain in a fix and look for honest pieces of advice.
Reaching an outcome might baffle you at times. Bearing the same in mind, you can take note of certain factors in your homebuying decision.
The first thing you need to do is make a table on a page. Write the factors mentioned below in columns. Tick the agreed ones against the “Apartment” or “Independent House” row and leave the boxes unchecked for factors you don’t agree with. The property with maximum ticks will probably help you paint a picture of your decision.
Size of Family
This is the first and foremost factor to consider when buying a property. The decision to move in should necessarily comply with the size of your family. Most of the time, the bachelors settling in for work or studies choose to move into an apartment.
Even for nuclear families, the most common decision is to buy an apartment. But, for joint families, buying an independent house might work in favor. Although the apartments are seen with an increased spread these days, there’s a limit beyond which a builder cannot construct it. Don’t worry if you are still at the crossroad; look for the following factors as well.
Space-open or Closed?
Essentially, space as a factor for choosing a property cannot be disregarded. The apartments don’t allow for vast spaces as they are constructed with a fixed floor plan for each unit. Also, there isn’t any possibility of open space in an apartment, except for a balcony.
With an independent house, you choose the design and layout according to your needs. For example, you can combine two rooms for a greater space. Additionally, most independent houses have lawns or backyards to let you build a closer connection with nature.
The decision of opting for closed spaces like apartments or open spaces like independent homes is directly influenced by the size of the family and, of course, your tastes and preferences. Keep joining the dots!
Another vital factor to consider before buying a property is the maintenance it requires. It will not be difficult to comprehend that bigger spaces ask more for your attention. If you are single, you will not be able to devote more time to maintenance, and that’s a fact.
The time constraints take the lead here. To preserve the home’s longevity, a sustained effort with time by the resident is a must. Otherwise, it might adversely affect the weight of your pocket. Choose your side.
In major Tier I cities, there’s a surge of residential complexes which provide unmatched amenities and security to their residents. There is a facility of swimming pools, play area, marts, salons, medical assistance, 24×7 power back up, and so much more, all within an enclosed space.
The idea behind the construction of such complexes is to erect a small city in itself. Such amenities and monitored access to visitors are a cherry on top and make the residential complexes a better choice for homebuyers. Naturally, these provisions are hard to find in an independent house, and you might not get the best of both worlds.
The final decision eventually comes down to the budget you have. An independent house, of course, will cost you more than the apartments. Usually, the apartment costs include labor and material, but due to being a part of the residential complex, it proves to be less costly.
However, if you are inclined towards an independent house, you can choose from two house and land deals. First, you purchase the vacant land and build the house wholly. Second, there are turnkey packages available wherein the property sold to you will be furbished.
Therefore, homebuyers always have the option to renovate the furnished house if the property doesn’t meet their expectations. That’s all the play of your pocket.
This factor does not entail to everyone who is looking to buy a property. Instead, it is just a bonus factor that you can consider. A smart homebuyer is not someone who looks at the present but keeps an eye on the future.
Apartments are easier to sell and provide better resell value because homebuyers often choose inefficient layouts for their independent houses that cut down the overall home value. In contrast, the apartments with better amenities and planned layouts win brownie points here.
It’s time to join the dots! By now, you must have been able to steer clear of your apartment-versus-independent-house dilemma. At least, you must have developed a blurred image of your decision. Go through the article again to weigh the pros and cons. Soon, you will be good to go!