Choosing Between Apartment and Independent House For Yourself
Owning your own home comes with a sense of both financial affluence and emotional fulfillment. Once you are done with the financial planning and set aside a budget, the next big question is where to invest your hard-earned money. Whether you should buy an apartment or build your individual house, this is a never-ending dispute amongst homebuyers everywhere.
In this article, we’ll delve into some of the driving factors that should be considered before you decide whether to buy an apartment or build your own house. Subsequently, you can choose the ideal option for yourself when you decide to buy property in Mumbai.
Factors To Consider
Space is one of the distinct factors that differentiates apartments from independent houses. While apartments are more compact, independent houses are spacious. Apartments are generally built with a fixed floor plan for each unit but with individual homes, you have the freedom of designing and constructing as per your preferences. With independent houses, you have the freedom of expanding your home, adding an extra room, or breaking down a wall in the future as per your requirements. This is not applicable in the case of an apartment. That being said, you can utilize the space in both types of residences differently and tailor the interiors as per your needs and convenience and make it look appealing.
Cost bearing ability plays a key role in deciding whether to go for apartments or independent homes. Constructing an independent house will give you the freedom to design and plan your home according to your needs but it may prove to be costlier than apartments. The price of the plot, expenses of materials and labor while constructing a house, and other government approvals and clearances make the deal costlier. Apartments are a lot easier in this regard as such costs are taken care of by the builder.
The availability of different amenities is yet another distinguishing feature between apartments and independent homes. With apartments, you get all-round security, a backup power generator, a waste management system, and a host of maintenance and cleaning staff including gardeners are at your disposal. With independent homes, these amenities are not readily available and you must arrange the necessities by yourself. However, this can be beneficial in its own way. House owners will have the flexibility to personalize and choose the amenities that’s most necessary for them and bear the costs accordingly.
Privacy vs Security
The privacy that an independent home offers is beyond that of apartments. Although real estate developers today ensure an individual’s privacy within apartments, the common areas are accessible to all residents. On the other end, the fact that apartments provide round-the-clock security is what pulls most homebuyers towards them. Most apartments come with surveillance cameras, 24/7 manned security guards, and monitored visitor management systems. This ensures the absolute security of the residents in an apartment.
Flexibility vs Ready Availability
When you build a house, you have the freedom to design and construct it as per your likings, unless there are some restrictions in your neighborhood. However, with apartments, you are generally not permitted to make any modifications to the main construction. Although, you can modify the interior designs to give your apartment a personal touch.
Another important aspect to consider is that when you decide to build your home, it generally takes a long period to be completely ready to move in unless you are buying a resale property. In the case of apartments, if you choose a RERA registered builder, you have the assurance of getting your home within the stipulated time. Besides, you only need to pay the price and the builder will take care of all the construction and timely delivery. Moreover, you do not have to deal with the trouble of finding architects and contractors to help you build your home as in the case of individual houses.
Choosing Between Apartment and Independent House
If you want a residence with advanced security and readily available amenities, choosing an apartment is the best option for you. Although, you will lack individual privacy to some extent and have no individual land value attached, except the small portion of the undivided share offered with the flat, investing in apartments is a safe option. They are affordable and generally more popular due to the availability of modern-day amenities, in-house maintenance services, and better security.
On the other end, if you want a peaceful residence with privacy and freedom to construct your home according to your preferences, building an independent house is the ideal option for you. However, you must understand that choosing this option will come with additional costs and hassles of getting the grants and permits all by yourself for building the house. Moreover, it might take a little longer before you can actually move into your house. Though, the satisfaction of having an exclusively designed house is worthwhile if you got time and money.
As we can see, both apartments and independent houses have their own perks and drawbacks. Therefore, choosing one among these depends completely on your needs, likings, and requirements.
At DigiArch Realtors, we provide end-to-end guidance in making property investments in Mumbai and Pune. We have access to several high-demand locations in Mumbai including Thane, Airoli, Malad, Goregaon, Kharghar, Koparkhairane, Ulwe, Virar, Vasai, Anand Nagar, Vashi, and Panvel. We also have plenty of options in several locations of Pune including Kharadi, Wagholi, Lohegaon, Hinjewadi, Wakad, Baner, Balewadi, Keshav Nagar, Kalyani Nagar, Viman Nagar, Ravet, Bavdhan, Kothrud, Dhanori, Hadapsar, Bibwewadi, Kondhwa, Aundh Pashan, Wadgaon Sheri, Undri, and NIBM Road. Moreover, we have tie-ups with 50+ builders. We provide you multiple options in every area to choose from. We help you find the right property that suits your needs and requirements. Contact us for further details.