Independent house or apartment - this question is just like the color orange or green. You may be confused and find this reply absurd. In reality, the answer depends on personal discretion. For the reader’s better understanding, we compare the features of apartments and independent houses.
Key Differences between Independent House and Apartment
Choosing between building an independent house and purchasing an apartment is an important decision that depends on various factors such as cost, lifestyle preferences, and long-term goals. Given differences will help you make an informed choice.
1. Cost Considerations
Building an Independent House:
Let’s take Gurgaon periphery’s example. To build an independent house near Gurgaon, you will first acquire land. Land prices in areas like Bhiwadi and Gurgaon differ significantly. It's essential to research current rates in your desired locality. Once you buy land, construction will be another stage. The quality of material, fixtures, and finishes will influence this stage.
Apart from this, there will be some additional expenses. These include architectural fees, permits, utility connections, and potential unforeseen costs.
Purchasing an Apartment:
Apartment prices will vary based on location, size, and amenities. For instance, if you buy an apartment in Bhiwadi, that will cost you less than buying a flat in Gurgaon. Besides this, there will be some recurring monthly maintenance charges. These charges will cover services like security, landscaping, and common area upkeep. These fees vary based on the apartment complex.
2. Lifestyle and Amenities
Independent House:
An independent house allows you to design and modify your home according to your personal preferences. You will have greater privacy with no shared walls or common spaces. There is also potential for gardens, lawns, or additional structures like a garage.
In the case of Apartments:
Many complexes offer facilities like gyms, swimming pools, and community halls. Gated communities often provide enhanced security features with CCTV cameras and guards. 24x7 water supply, power back, and community clubhouse - are some of the attractions that you may get with apartments.
3. Maintenance and Responsibilities
Independent House:
Homeowners are responsible for maintenance tasks. Be it water availability in case of water shortage, electricity work, minor plumbing works, structural repairs, or landscaping. But, here, they have the freedom to undertake renovations or expansions without needing approval from a housing society.
Apartment:
In apartments, they have their own RWA societies. This detailed team typically handles the maintenance of common areas and exteriors. Also, modifications within the apartment may require permissions to ensure they align with community guidelines.
4. Investment Perspective
Independent House:
Land appreciates over time, potentially offering better returns. There is the possibility to reconstruct or expand, adding value to the property.
Apartment:
Although buildings may depreciate, their value can be sustained or increased with good maintenance and location advantages. Besides, apartments in prime locations can provide steady rental income.
Conclusion
Buying an independent house and purchasing an apartment depends on individual priorities. Property buyers need to evaluate these factors in the context of their circumstances. But once you have analyzed your budget, lifestyle needs, and long-term goals, you can make a better personal choice.
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