Apartment vs Independent Home
Whenever you start searching for a home the first question that comes to your mind is whether to buy an apartment or an independent home. This question has haunted home buyers worldwide. Both options of living have their advantages and limitations. The burgeoning demand for a better lifestyle and yet wanting to own a home that suits one’s preferences, there has been a mixed demand for independent homes as well as Apartments.
It is no secret that with the fast lifestyle and changing economic factors there is an increasing demand for homes. Also, with the increase in population and varied preference of people, the real estate has seen a mixed response to both Independent and Apartment living. The metro cities have now embraced the growth vertically in terms of residential homes while the Tier 2 cities have seen growth in the demand of Independent homes.Let’s take a look which options are preferable and why are they working with different segments of the society.
A lot of young working professionals and migrant working class prefer to live in vertical residential projects as compared to villas or independent Homes. Apartments have gained importance in lot of cities because of the growth in the nuclear families. A lot of home buyers feel that they need a small space to set up their home and don’t find it financially viable to maintain a huge house when they have limited need for space. Also one can always invest in an apartment and put it out for rent to young couples or bachelors, thereby ensuring that there is a monthly income that is generated.
• While living in an apartment you can be always rest assured for the security of your family. While we see a lot of apartment projects are a gated community with its own security management systems in place.
• A lot of residential communities have now advanced security systems like CCTV camera along with security guards. This ensures the safety of residents and they can live in peace. However, this kind of services are only viable when the scale of residential housing project is large because the costs can be shared by all units. Hence, it becomes easy to afford these advanced security system.
• A lot of residential communities now boast of a brilliant lifestyle. Many of the reputed builders offer spacious clubhouses with amenities like gymnasium, swimming pools, indoor games, multipurpose courts, banquet halls etc. These amenities need maintenance and upkeep too. However, this is only possible when number of residential units are larger and the home owners are sharing costs.
• If you are living in an apartment, you live a hassle-free life because every problem is been taken care of by the maintenance team. Apartment project from reputed builders have a dedicated facility management team who are available on call. Say for example, several kinds of services like concierge services, Plumber on dial, Electricians, house help etc. for a hassle free living experience. This kind of services may not be possible in an independent home since the costs for these would be very high.
• The best part about living in an apartment is the feeling of belonging to a community. “Love thy neighbor, as you would love yourself” is an old saying which is followed religiously in India because here people believe in the bonds that one creates with their neighbors and the building community sometimes lasts a lifetime. Also these neighbors look out and keep an eye on your house when you are out of town for a long time. This is only possible when you are living in a large scale Apartment project.
• The downside of living in an apartment is that modifying your home may not be possible because one cannot increase the size of their rooms or build on the top of their house or break common walls. The reason is that builders have strict policies on modifying an apartment since it effects the structural quality and the architecture of the building. Hence, adding more bedroom for the guests or the kids, it may not be possible.
• A lot of people living in an apartment at some point of time have complained about lack of privacy in their community. Nosy neighbors to loud kids are often some of the reasons that are a major turn off for home buyers looking to invest in an apartment.
• One of the reason that apartments may not be preferred is because of the limited space. Apartments might not be the right option for those who prefer open landscaped spaces and gardens.
• Apartments in single tower project come in specific sizes which may or may not be sufficient for you. A lot of times home buyers compromise on the space due to the budget they have in mind or the location that they are looking for.
The Demand for Independent homes and villas are also at rise with the rise in demand for homes. The requirement for independent home or villa can be usually seen amongst people who are in the later years of their life or amongst home buyers who have attained financial stability. Statistics say that people who prefer Independent living options are either in the top level management. Those who prefer to live an elegant lifestyle in serenity, independent home or villa is the most preferable option.
• An independent home or villa always gives more freedom because the home owners are not answerable to the society or to any neighbor.
• Unlike an Apartment, Independent homes can be modified as per the tastes and preferences of the home owner. At a later stage if the need arises to add more rooms or floors, one doesn’t need to seek permission from the builders or the society. The home owner can add or construct floors or rooms as and when needed accordingly.
• Independent homes are preferable to those who have a keen interest in gardening or growing smaller farm can easily be done in an independent homes with no objection of neighbors or any hindrance by the property management.
• An independent home will always offer more privacy when it comes to peacefulness and calm environment. Everyone has their own independent home or villa where a home owner can enjoy privacy and where they do not have to face nosy neighbors. This can be the best reason for age groups who look for a settled life or have attained financial stability.
• Based on your future requirements and needs one can always expand an independent home or villa. For example, if there is future requirement to build more rooms because your child needs it or even in case of large families independent home is most preferred.
• The locations for independent home is usually far away from the city. Even the options that are available inside the city come at a very hefty price. Hence, it may result in long tiring drives for you to commute to the city or go to work. Similarly, for buying small necessary items you would have to travel far from your home.
• Renting a home can be difficult in case of an independent home.In case of an independent home it is difficult to give on rent because no tenant would like to give such hefty amount to live on rent. Moreover, any bachelor or a student will not be able to afford an independent home or villa even for rent.
• The home owner have to pay high maintenance cost for owning an independent home. Since, owning a home gives you larger degree of freedom but also the maintenance cost is high even for small things. Either it is the maintenance of community or any small problem the upkeep of an independent home is always high.
• An independent home is always ina quieter place. The biggest drawback can be lack of people in an emergency. Since, there is no feeling of belongingness to a community and everyone has their own home it can be a possibility that you do not have someone when you are really in need.
While Apartments and Independent homes have their own pros and cons, the choice will alays be based on the personal preferences and financial capabilities of the home buyers. However buying a home is always considered as a good investment option and it will ultimately lead you to better return on investment in the future. Pacifica companies offer both apartments and villas. These Apartments and villas are set in a beautiful communities ensuring that you choose a home as per your requirements and yet enjoy living amidst your loved ones. You can always opt for homes that fits in your budget and requirement. Our every project offers you the best lifestyle that lets you enjoy your life and cherish memories with your loved ones.