Owning a home is indeed an achievement for any home buyer because it takes years of capital saving, proper plan and execution before purchasing a dream property. As you know that, the Indian real estate market is crammed with various kinds of property and most home buyers get perplexed with it while buying property. They usually stay in a dilemma that whether to buy a flat or an independent house.
A home buyer finds buying flats is cheaper than buying an independent house because of its location, accessibility, rent, appreciation and security. In addition to this, the price value of such kind of developments also comes at an affordable budget which is another reason.
Due to the updated world, people are more fascinated to lead a contemporary life and to cater them their wish real estate sector plays a crucial role. But if the buyer is not aware of the advantages which he is going to receive in the latter days or if he is new to real estate investment then certainly for him it is tough to decide between buying flats or independent homes.
So here are the differences between buying Apartments or Independent houses that will guide you in your property buying journey. To understand it better, read the blog till the last.
Apartment
Apartments are the most preferable choice in cities among home buyers just because it represents the modern lifestyle and amenities. Also, apartments offer maintenance services and better security, you can use them for self-use or for investment purposes to gather higher capital appreciation.
Independent House
Those who are seeking more privacy in their lifestyle and do not want any interruptions from others, generally go for independent living and independent houses are good for them. There is no doubt that such kinds of housing are costly and you have to take care of all things like you have to bear the maintenance charge, you have to assign security personnel to keep your house safe.
In addition to this, there are many benefits that you can control over the design and architecture of the house along with cost-effective use of materials used and the quality. You can build multiple floors and self –occupy one floor and rent out the rest which would be a good source of income but will be taxable
Apartment vs. Independent House
- Generally, the cost of buying an independent house is much higher than buying an apartment so in case if you will require a home assistant loan then it will increase correspondingly. You have to pay many legal duties including the price of the plots, the stamp duty to be paid to the Govt. clearance required from various authorities, cost for electricity connection, raw materials, raw materials, labor cost depending on city plus the architect fees. But in case of an apartment, the builders have to take all the responsibility and buyers have to pay the requisite amount for the apartment and move in whenever desire
- An apartment property comes with added values, which means you will get all the amenities in the property’s premises. You can have security, enough parking space, power back-up, water systems and so on. But in an independent house, you have to arrange everything and have to do extra effort for setting up of these services.
- Only after strict scrutiny of borrowers banks will sanction the loan for independent properties which is time-consuming and may lead to losing out on the desired property. But in case of apartments, loans are available as builders have tie-ups with various banks to make the home buying process more hassle-free.
- When it comes to independent houses or villas, capital appreciation is not as high as an apartment and the reason is the high initial capital involved and the limited demand as compared to apartments. So it is quite difficult to sell an independent house, on the other hand, apartments are always in demand and easy for resale and rent.
- Living in an apartment complex encourages communal harmony and societal living as no discrimination is made based on caste or creed. Society members from all walks of life are welcomed which is lacking in independent house living
Conclusion
For those who have a large family for them, an independent house is the best choice that is generally aesthetics of their home, neighborhood and privacy and also has the financial strength to complement such a lifestyle.
For buyers like nuclear family or senior citizens looks for budget-friendly homes and apartment is the best option for them. Such kind of developments providing all sorts of amenities and facilities for a better living, if you are in the quest of an apartment living then Unity The Amaryllis Karol Bagh is the best option now in Delhi with outstanding amenities comes with sheer size units and presenting chic lifestyle in the heart of Delhi.
I hope all these above-mentioned points will clear all your confusion regarding buying the difference between apartments and independent houses and will help you to guide in the right way.