Apartment vs Independent Home
Whenever you start searching for a home the first question that comes to your mind is whether to buy an apartment or independent home. This question has haunted home buyers worldwide. Both options of living have their advantages and limitations. There exists a burgeoning demand for a better lifestyle and yet wanting to own an apartment or independent home that suits one’s preferences.
It is no secret that with the fast lifestyle and changing economic factors there is an increasing demand for apartment or independent home. Also, with the increase in population and varied preference of people, the real estate has seen a mixed response to both Apartment or independent Home. The metro cities have embraced the growing vertically in terms of residential homes while the Tier 2 cities has growing demand of Independent homes. Let’s take a look which options are preferable and why are they working with different segments of the society.
A lot of young working professionals and migrant working class prefer to live in vertical residential projects in comparison to villas or independent Homes. Apartments are gaining importance in lot of cities because of the growth in the nuclear families. A lot of home buyers feel that they need a small space to set up their home. They don’t find it financially viable to maintain a huge house when they have limitation to space. Also one can always invest in an apartment and put it out for rent to young couples or bachelors.
Pros of living in an apartment:
- While living in an apartment you can be assured for the security of your family. While we see a lot of apartment projects are a gated community. They have its own security management systems in place.
- A lot of residential communities have now advanced security systems like CCTV camera along with security guards. However, this kind of services are only viable when the scale of residential housing project is large. Here the costs can be shared by all units. Hence, it becomes easy to afford these advanced security system.
- A lot of residential communities now boast of a brilliant lifestyle. Many of the builders offer spacious clubhouses with amenities. Some of the examples are gymnasium, swimming pools, indoor games, multipurpose courts, banquet halls etc. However, this is only possible when number of residential units are larger and the home owners are sharing costs.
- If you are living in an apartment, you live a hassle-free life because every problem is been taken care of by the maintenance team. Say for example, several kinds of services like concierge services, Plumber on dial, Electricians, house help etc. for a hassle free living experience. This kind of services may not be possible in an independent home since the costs for these would be very high.
Cons of living in an apartment:
- The downside of living in an apartment is that modifying your home may not be possible. The reason being, you cannot increase the size of the rooms or build on the top of the house. The reason is that builders have strict policies on modifying an apartment since it effects the structural quality and the architecture of building. Hence, adding more bedroom for the guests or the kids, it may not be possible.
- A lot of people living in an apartment at some point of time complain about lack of privacy in their community. Nosy neighbors to loud kids are often some of the reasons that are a major turn off for home buyers.
- One of the reason that apartments may not be preferred is because of the limitation in space. Apartments might not be the right option for those who prefer open landscaped spaces and gardens.
- Apartments in single tower project come in specific sizes which may or may not be sufficient for you. A lot of times home buyers compromise on the space due to the budget they have in mind or the location that they are looking for.
The demand for Independent homes and villas are at rise with the rise in demand for homes. The requirement for independent home or villa can be usually seen amongst people who are in the later years of their life. Also, it is amongst home buyers who has financial stability. Statistics say that people who prefer Independent living options are in the top-level management. They are the ones who prefer to live an elegant lifestyle in serenity, independent home.
Pros of independent homes:
- An independent home or villa always gives more freedom. Here, the home owners are not answerable to the society or to any neighbor.
- Unlike an Apartment, Independent homes can be modified as per the tastes and preferences of the home owner. At a later stage if the need arises to add more rooms or floors, one doesn’t need to seek permission.
- Independent homes are preferable to those who have a keen interest in gardening. You can grow smaller farm easily in an independent home. You do not have any objection of neighbors or any hindrance.
- An independent home will always offer more privacy when it comes to peacefulness and calm environment. Everyone has their own independent home or villa where a resident can enjoy privacy. An independent home is where you do not have to face nosy neighbors.
- Based on your future requirements and needs you can expand an independent home or villa. For example, if there is future requirement to build more rooms because your child needs, independent home is most preferred.
Cons of Independent homes:
- The locations for independent home is usually far away from the city. Even the options that are available inside the city come at a very hefty price. Hence, it may result in long tiring drives for you to commute to the city or go to work.
- Renting a home can be difficult in case of an independent home. In case of an independent home it is difficult to give on rent because no tenant would like to give such hefty amount to live on rent. Moreover, any bachelor or a student will not be able to afford an independent home or villa even for rent.
- The home owner have to pay high maintenance cost for owning an independent home. Either it is the maintenance of community or any small problem the upkeep of an independent home is always high.
- An independent home is always in a quieter place. The biggest drawback can be lack of people in an emergency. Since, there is no feeling of belongingness to a community it can be a possibility that you do not have someone when you are really in need.
While Apartments and Independent homes have their own pros and cons, the choice will always be on the basis of personal preferences and financial capabilities. However buying a home is always considered as a good investment option. It will ultimately lead you to better return on investment in the future. Pacifica Companies offer both apartments and villas. These Apartments and villas are set in a beautiful communities ensuring that you choose a home as per your requirements and yet enjoy living amidst your loved ones. You can always opt for homes that fits in your budget and requirement. Our every project offers you the best lifestyle that lets you enjoy your life and cherish memories with your loved ones.