Investing in real estate is no new game. Everyone does it as the market is growing rapidly. The first and foremost thing one must check before investing is the location. Selecting a better location would give a better appreciation of your investment. There is a wide variety of investment options available in the market today. From plots, villas, apartments, independent houses, and a lot more, the list goes on. It is the sole responsibility of the homebuyer to choose the ultimate property in which they want to invest in considering their priorities. Once this is fixed after selecting the location, then they can just look for the property of their interest without wasting time on every available type of property. Here, we discuss apartments and independent houses. Both of them are available in the market from very early times.
Independent houses are individual properties that are constructed over a piece of land. This is one of the most common and earliest modes of residential property available in the country.
The inhabitants of an independent house will have complete privacy in their own separate property. An independent house comes with single or multiple floors, this is completely up to the builder or the buyer.
An apartment is a type of residential property with every modern-day facility and is the most common type of residential apartment found in metropolitan cities in India. They come along with a group of other units in tall towers probably in any gated community that offers every amenity and service.
Following is a detailed analysis of an apartment and an independent house. Prestige Park Grove Offers Villas with luxury amenities in Whitefield, Bangalore.
Cost of Buying
The cost of owning an independent house is far higher than that of buying an apartment. Owning an independent house includes the price of the plot, stamp duty paid to the government, legal formalities cleared from various authorities, cost of raw materials, cost of electricity connection, labor charges that change from place to place, architect fee, and a lot more, the list is never-ending. This will cause a great amount of time and will be tiring and exhausting at times.
In the case of an apartment, you do not have to worry about anything that undergoes during the process of construction, as everything will be taken care of by the builder. The buyer just has to pay the cost of their apartment unit and nothing else. They can move in when the construction gets complete.
An apartment comes with every facility such as water, electricity, security, and many others. Apart from these, they have various shared amenities that include a well-equipped clubhouse, multipurpose hall, gymnasium, various sports courts, indoor games room, party hall, kid’s play area, swimming pool, mini theatre, and various other facilities under a single roof that can enhance the overall lifestyle of the residential community living in an apartment.
In the case of an independent house, you have to arrange everything and manage all facilities by yourself. You do not have access to any other lifestyle amenities that are available in an apartment unless you are in a gated community villa. If you want to install any such thing, you must invest extra money or can have access to any private amenities available elsewhere by paying the cost.
Getting a loan for an apartment is simple and hassle-free, and the builders will definitely help you with the process, hence you could save a huge time in that.
But getting a loan for an independent house is a very time-consuming and complicated process compared with a flat.
Privacy and Security
Complete privacy could be guaranteed at an independent house, where you live with your family and you do not have to share any amenities with anyone. While looking into safety and security, you must install devices for your and your family’s security by yourself. If you arrange everything by yourself then you do not have to worry about anything.
Whereas in an apartment complete privacy could not be guaranteed as you will be sharing floors, hallways, lifts, amenities, and every other thing with the fellow community residing in the same apartment. But security is a default amenity that comes with every apartment purchase.