People invest in residential properties more than in commercial ones. The purpose of buying may differ from person to person, but it is not so easy to find a perfect match for your needs and requirements. In this article, we will discuss about apartments vs independent houses. Many factors are responsible for any property buying decisions. An investor needs to have updated knowledge about the current market trends and valuation of the targeted property. However, the pricing of the property may also depend upon which type of property you are investing in.
The fluctuation in pricing may take place due to market conditions, political dynamics, economic changes, dealers’ market, market demand, location of the property, area size, location preferences, and offered amenities. Some personal factors may also drive one’s buying decisions. You can search for a property that will best match your needs, but it is recommended that you hire an industry professional to help you find and buy a property with maximum amenities against the best deals. Keep reading further for interesting facts;
Types of Apartments
The term ‘Garden Apartment’ doesn’t refer to the construction around the garden, but it means a ground floor or a basement. This apartment constructed in the basement or on the ground floor is called a garden apartment. People usually prefer buying such houses because of the ease of mobility and access. But this type of property may have its challenges, such as ground-level leakage, harm from earth warms, insects, and unwanted cracks. You are suggested to inspect the property or get it inspected by an industry professional before buying it.
2. High-Rise Apartment
High-rise apartments are more popular among people in this modern era. Any apartment that is built on tall multi-story buildings is referred to as a high-rise apartment. Such houses are available in semi-furnished, fully-furnished, and premium-furnished conditions varying in price. These apartments are built within a bordered society. You may get features like quality lifts, a public park, a school, a swimming pool, a gymnasium, a security guard, a parking space, and a multi-purpose function hall.
3. Loft Apartment
The Loft Apartment has high ceilings and roof designs. You may have extra space over your head to move things, configure hanging ceiling lights, and have ceiling fans with large rods. Loft apartments have wide windows, and exposed bricks & pipes. These are usually bigger in size than studio or common apartment designs. The average size of such houses is measured between 1000-2000 square feet. Loft spaces were earlier used for commercial or office use, and are usually constructed in the urban cities. These are costlier than the common flats.
4. Low-Rise Apartment
Low-rise apartments are the affordable housing system offering all the modern amenities to the buyers. A small society of 2-4 building rows is built having multiple flats in S+3 or S+4 formats. Here, ‘S’ stands for stilt parking that is constructed under the base pillars. Low-rise apartments are cost-effective and community-centric houses.
5. Mini Apartment
Mini apartments are small in size and area usually between 150-350 square feet. It is often termed a micro or tiny apartment. It is the best solution for the urban cities where housing is getting expensive, and people can hardly afford to buy a spacious property. In such small houses, one can manage to have a pull-down bed with foldable furniture and accessories.
6. Penthouse Apartment
Penthouses were earlier made for house servants on the top of the roofs or the top floor of the building with extra space. But today, realtors term it as the spacious luxury apartment having a separate entrance feature. The penthouse offers a large balcony, spacious roof space, big room spaces, and wide windows. The prices are higher than the common apartments for penthouses.
7. Studio Apartment
Studio apartments are more popular in large cities where buying a spacious apartment can be a big challenge due to pricing and location preferences. A studio apartment offers ample space, having modified features with a bedroom setup, dining space, bathroom, and study corner within a large room. However, people do artificial patrician between the sections for privacy. Studio apartments are also more costly than the usual flats and apartments.
Types of Independent Houses
1. Bungalow House
A bungalow house is an independent construction with a single floor or a small built-up on the first floor. It is a residential space of 2-4 bedrooms on the same floor having a down slope roof design. It is cheaper than having a multi-story house. The property is a perfect match for a small nuclear family with easy access to the inside out. It is recognized by the square design and windows coming out from the rooftop.
2. Cottage House
During the Middle Ages, farmers used to live in cottages as they were called cotters. But today, realtors construct and build cottages in rural or semi-urban areas for people who live in such areas and want to own something uniquely designed. Although cottages are small in size and made with fundamental techniques, they still are good residential spaces for thousands of people. Cottages are the best match for small families.
3. Duplex House
Duplex houses are built on the land having multi-story structure design with similar space and amenities on each floor. Duplexes are more popular in semi-urban and urban cities these days. It is considered one of the best residential options for a large family. Such properties are but costly than many other types of residence. It is built with separate entrances for each floor, bedrooms, dining rooms, separate bathrooms, and kitchen spaces. The owner is free to have any type of construction design and building structure within the available space.
4. Farmhouse
Farmhouses are the residences of farmers and their family members. And they have lived in such houses for ages. Such properties are designed with basic amenities and features to keep the surroundings environment-friendly. Today, many people invest in farmhouses so that they can spend some quality time with their family and friends close to nature and get some fresh air. It can be a good option for people having surplus money.
5. Kothi House
Kothi is a famous residential design. It is usually built on a big piece of land with all the latest amenities. Kothi is constructed firmly on large pillars. It can be a single-story property or multiple-floor construction. These types of houses are expensive to buy and do maintenance in future.
6. Villa House
Villa House is a luxurious residential property built on a large piece of land with all the latest features and amenities. It is a costly residential product, and its maintenance cost is too high. It is ideally built on land measuring 3,000 to 10,000 square feet area. Villas are best match for a large family or joint family.
Apartment Vs Independent House
Land Size
Apartments are usually built on a maximum 5,000 square feet area with all the latest amenities. On the other hand, the land size may vary for independent houses. It can be built on a land size as big as 10,000 square feet with additional features like a swimming pool, playing courtyard, parking space, and personal garden.
Land Ownership
In case you are investing in an independent property, the owner or owners have the land ownership with all the rights. But if you are buying an apartment, you get the ownership of the flat only. The land rights are equally divided among apartment owners of different floors.
Cost
Apartments are costly these days with the latest features and amenities; it may cost you around 1 Cr or above. However, many apartments are available for an affordable price. On the contrary, independent houses are convenient to buy as you can construct your house on the purchased land. However, Kothi, Mension, and Villa are premium real estate products and are expensive.
Preferred Location
The property rates and maintenance costs may be affected by the preferred location and hotspot. In fully developed cities and sectors, even an apartment will cost you more than any other property. Independent houses will also cost you more. However, in semi-urban or underdeveloped areas, both types of properties can be affordable.
Design and Amenities
Apartments are usually designed and constructed using unified designs and added amenities. Although, you can experience different types of Apartments in a society. On the other hand, independent houses are constructed and designed based on the preferences of the owner.
Conclusion
If you find this article helpful for your buying decision, you can use the information. It is recommended that you should have a viable budget to buy a property before planning to buy one. Do some detailed market research, and collect all the necessary product details. Follow the buying process while comparing all the features, available space, amenities, and costs. Then as per your needs, preferences, and requirements, you can invest in the residential property. Hire a professional local property dealer for the quality hunt and best buying experience.
