When it comes to investing in a property, most people talk about the amenities, location and infrastructure of the city/ state. But seldom do people talk about personal choices. When choosing a property you have two choices – an independent house/ villa or an apartment.
There has been endless debates going on about apartments and independent house – some say living in an independent house is much better than living in an apartment, while some say the staggering costs of living in an independent house plus the sky-rocketing land prices make it an unsuitable option.
However, real estate companies in Gurgaon have enough inventories of apartments as well as independent house/villas. So how would you decide, which one to choose? Here are some comparisons that will help you decide:
Apartments or gated communities developed by the leading real estate companies in Delhi NCR and Gurgaon offer premium amenities and facilities like clubs, health centres, recreational areas, etc. and each of these are included within the price. But if you choose an independent property, you will have to invest extra to set up these services.
People would say amenities are offered at a cost; this is true but since the cost gets divided into a number of homeowners, the cost minimizes considerably.
Getting home loans or availing other financing options is much easier for you to choose an apartment. This is because the real estate companies in Gurgaon and other parts of the country make sure there are no legal issues associated with the properties they develop, so the loans get sanctioned easily.
Most people buy independent house from individuals (since the cost of newly built independent houses are very high due to high land prices), which means there are high chances of legal complications. So until and unless all the issues are settled, it would be difficult to get a home loan.
Apartments Cost Less
Even if you want to buy a newly built independent home to avoid legal issues, the price would be too high. In case of a complex or gated community, the cost of land and other costs get divided into a number of individuals, so the overall price is much lower; but in case of an independent house the cost is undivided and the owner has to take up all the burden.
If you are investing in a property to make some money, investing in an apartment is a better choice. Since the rental of an apartment would be lower than that of an independent house, you can quickly find tenants and start earning money. Plus, the exclusive amenities and facilities attract better tenants in comparison to independent homes.
So, before investing your money in an apartment or independent house, do a thorough research. There are ample choices available, but you should invest in a property that ensures good returns. So evaluate all the options and only then take a step forward. Real estate investments are the biggest investments in one’s life, so you must be very careful to put in your hard earned money.
The real estate companies in Gurgaon are developing residential complexes as well as independent villas, so depending upon your personal needs you must determine what type of property is best suitable for you.
Author Bio: ILD is a real estate developer in Gurgaon. Their recent write up talks about whether one should choose independent house or apartments constructed by the real estate companies in Gurgaon.