When you finally decide to buy your own house, there arises a confusion whether to invest in a independent house or an apartment? Apart from the monetary aspect, there are many other factors that form basis for final decision making. Since buying a house will be one of life’s biggest investment, which is why it is very important that the right decision is taken with care.
Why to go for Independent House/Villa
1. They are more customizable in terms of space management.
2. They offer more privacy.
3. Provides full ownership of the land on which the house is constructed.
Why to go for Apartment/Flat
- The amount of investment is usually lower than independent houses.
- Offers higher rent yield.
- Since most of the facilities are shared thus the cost of maintenance is much lower.
- Apartments are generally safer not just because of the security arrangement, but because having people staying very close to each other, any alarming incident will have a better chance of being noticed by the neighbours.
- It is easier to get housing loan because lending banks often prepare a list of sanctioned projects where a buyer can easily get his loan approved.
Although both options have their own benefits, industry estimate suggest that apartments are now more in demand. Even in Tier-II cities like Dehradun, many apartments are being developed. The major such example is the growing trend of apartments in Dehradun in Uttarakhand wherein the real estate development has brought in many options to the home buyers in various budget segments like studio flats, 2 BHK flats, 3 BHK flats, 4 BHK flats and ultra-luxury flats.