When investing in a property, especially a residential one – one question regularly pops up, “Is buying an individual house better than buying a flat in the apartment?”
Most first time investors assume that houses are always better as investments as they have more accommodation and land. But over time people have moved into the attractions of urban life, living in inner precincts and closer to work thereby directly impacting the value of the properties. Apartment investors are benefitted from appreciating land values even though they don’t have a direct landholding. Nonetheless, poorly located or designed apartments miss out on growth.
We buy houses because houses exude class, are fancier and provide the owner with a sense of pride and prestige. The most remarkable feature of an individual house is that it offers more space and more privacy. An individual house is the perfect abode for individuals who wish to remain withdrawn, and do not appreciate frequent interferences of others. Nevertheless, maintaining an individual house is expensive affair, the high amenity charges don’t help things. And when it comes to selling houses with high mortgages, sell my house for cash might be a challenge.
On the contrary, apartments deal with a small area space. The level of privacy is limited in comparison to an individual house because there is diverse occupancy in the building. A person has the complete ownership to use the area falling under his floor space at his will but the common area has to be used in accordance to the rules of the building or the community. For those who love to stay among people, an apartment is the perfect accommodation. The landlord shall handle and take care of the repairs and maintenance, while the owner is not responsible for fixing anything beyond his area space.
Home owners have mortgage payments, insurance and at times, have variable interest rates and escalating costs while apartment dwellers have monthly rent, animal deposits and security deposits. For Homeowners, if running water stops coming, they have to get it repaired and it leaves them with a lighter wallet. On the other hand, Apartment dwellers only have to call their owners to fix the problem.
People living in apartments do not have the choice to choose their neighbors and need to live with the noise level that surrounds them apart from complaining to the property manager. When we buy houses, we are in charge of the family and how much noise they create. And if the property surrounding the house is enough, it can limit the amount of noise from the neighborhood.
Privacy is another matter of concern for those who live in apartments. It offers little or negligible privacy. In an apartment building with shared interior hallways, the level of privacy is even lower. Homeowners always have the option of building fences along the perimeter of their property to avoid trespassers. On the downside, Homeowners are committed to mortgages of a longer tenure, generally in the range of 15 to 30 years. Apartment dwellers can move apartments with leases that are month-to-month or yearly.
So, would it be an individual house or the apartment? It would be impossible to answer that with a simple “yes” or “no”, because there are other dependencies (property, budget and location), and these play an important role in the eventual choice. No just these the eventual choice of buying an adobe also lie on the preference one has…… so looking on all these pros & cons make a wise decision yourself as per your preferences.
Peter hoxx is well known writer about present real estate scenario's. In this real estate world, every home seller want to sell their house for cash and quickly. Author explains in this article about how to be invested in real estate all time in america saying from his past experience as he use to say We Buy Houses Philadelphia. Contact us for more information about present real estate market or to sell your house as quickly as possible.
Buying an individual house Versus buying a flat in the apmts