Like many current debates about things in the world, the dilemma of making concrete walls of distinction between the choices of getting an apartment or an independent house for yourself is never going to end. But, it is often better to sort such dilemmatic points of discussion with thorough and detailed insights into each aspect concerning it.
There indeed might have been many instances where you would have sought out people and acquaintances into letting you count the pros and cons of each option mentioned above. Still, none seem to help you come up with a distinct, stand-alone resolve. Well, in dire need of a place of accommodation, going for an apartment instead of an independent house might seem like a good option to follow. Still, the other has its own set of benefits and banes. The two possibilities put into question have many thighs to offer and be discussed.
Their points of difference will make individuals and buyers more resolute and decisive in heading forth with one set goal of purchase.
Therefore, in the upcoming sections of the article. We shall be looking into the various aspects of similarities and differentiation between an apartment and an independent house. Without further ado, let us get started!
The essential distinction that comes into play is the amenities provided at the respective choice of accommodation places. It is a well-known fact that apartments offer many facilities and amenities that one could get tired of listing down. Amenities like pool area, gymming spaces, open spaces and parks for walking or jogging, secure parking spaces, emergency generator and electricity supply services, sound water systems, fire management service systems, security, and many more are offered in apartments. Whereas to talk of independent houses, the owner is burdened with all the caretaking responsibilities of the place. Though not often, it would still become tiresome and bothering at some point later in life. This is not to say that independent houses provide no amenities as such. Sure they do, but the distinctions thus measured are incomparable and individualistic in their terms. Making a choice, as a whole, lies in the buyer’s hands about their preferences and suitability in various aspects.
I can say that an apartment has the upper hand here. In most apartment accommodations, residents are offered services and maintenance by the apartment caretakers themselves. The residents are kept unbothered of the issues existing whatsoever. Hence, they are free from the hassle of running around and looking for mechanics and plumbers and covering up for the maintenance cost thus charged. On the contrary, in the case of independent houses, sure, you will be living in the space offering you utmost privacy and lordship over the piece of land and block of building you own. Still, the responsibilities for its maintenance would crash landing on the owner, which might probably be you or might not, depending on the choice you end up making. In more precise terms, the owner of an independent house has to bear the brunt of the maintenance charges whatsoever, and such is not the case in an apartment.
Resale of the property-
Well, to come off rather blunt, real estate properties are not hotcakes that they would sell out the moment you quote a price tag to it. The saleability of such assets takes a good deal of time. However, a difference still exists that makes one of the choices slightly better than the other. Selling an independent house tends to be slower and difficult for several market reasons, the most important of them all being the demand. A significant chunk of the population is driven towards choosing apartments as their dwelling place because there is a sense of ambiguous comfort attached to it, be it the cost, resale approaches, services and amenities, or security.
The mortgage facility-
Getting a home loan for an apartment is more accessible than getting a private dwelling. For residential projects, significant banks frequently offer pre-approved loans. The financing process for independent homes entails thoroughly examining all property documents and the borrower’s credit history. Furthermore, performing a property valuation for a separate dwelling may be challenging for a lender. If you plan to purchase a plot for independent housing, consider that banks in India only lend 60-70 per cent of the total plot value. You’ll have to come up with the rest of the money, including the stamp duty and registration fees, on your own. Banks, on the other hand, do grant construction loans over this sum.
Going through the above parameters must have helped you clear the air of indecisiveness you have been blooming in up until now. Hence, it is to conclude that, if heading to purchase an asset, must keep certain specific parameters in mind to make a wise, benefiting and equally rewarding purchase whatsoever. So, go ahead and do not shy away from investing in efforts to run background research on the pros and cons of certain prospective assets you are planning out.
1. Is it safer to live in a house or a flat?
Ans: About the amenities offered and the assured tight security services that come with an apartment accommodation, it, therefore, becomes a safer and secure way of living for most individuals in today’s world.
2. Should I buy a house or flat for investment purposes?
Ans: If the question arises concerning investment purposes, a flat tends to promise better prospective gains than an independent house because of one primary reason: public demand.
3. Which is better, an apartment or an independent house?
Ans: Although there can never be an obvious and solid answer to such concerns, an apartment appears to be the most popular choice in light of public demands and preferences.
4. Why are people going for apartments mostly?
Ans: It might seem like a no-brainer to most out there. Still, the amenities and services offered at a feasible price are most probably what makes an apartment the preferred choice for accommodation purposes among the multitude.