If you are planning to buy a new home, the first thing that comes in your mind would be Villa or Flat?? Buying a home either for living or as an investment is one of the largest expenses that you will be making. For this reason you must be twice as sure before deciding what type of property is your choice. Here are a few points that will help you choose between villas and apartments.
Villas are Luxurious independent residences & low-rise structures; it is Ideal for large families & celebrities. Provides high levels of privacy, land ownership & easily customisable. People living in metropolitan cities have mostly restricted themselves from certain things related to nature because of the shortage of land. The land value always appreciates and that is major component in a villa. So investment in villas makes it a brilliant choice for investors who are looking at great future-benefits.
Apartments generally comprise of mid- rise and high-rise structures, offering living spaces in various configurations; it is ideal for small families. It is comparatively more affordable and more popular in the rental market. Their popularity can be attributed to reasons including but not limited to contemporary looks, modern-day amenities and better security. In addition, issues pertaining to water and power supply are taken care of, Lower maintenance, better security and easier to liquidate are few other benefits of investment in apartments.
Villas vs Apartment’s
Which gives more freedom in design?
Villas offer huge scope for customisation. These can be easily modified to reflect the changing trends and taste in the market. This amount of freedom is not possible in an apartment. There can be no easy expansion or reconstruction in an apartment.
Villas give you a maximum freedom on exterior as well as interior design. In case of apartments, you cannot alter the exterior design at all. As of interior design, both villas and apartments give you a freedom of choice, but comparatively villas have flexibility. With villas one can decide the colour, design, and even the fixtures in both interiors and exteriors of their home.
Which is location friendly?
Location drives the decision too, just as the price does. A key factor behind deciding on a villa or an apartment, it is important to consider the proximity of the property to places of importance in one’s daily life such as offices, schools, hospitals and the city centre. Most of the villas are located on the outskirts or in the suburbs of the cities, and apartments can be located both in suburbs as well as in prime locations. On the contrary, if you work in one of the IT parks or Tech parks in the suburbs, then buying a villa is a better decision.
While villas are indeed costlier than apartments due to their large space and high land costs, these days, high-end luxury apartments are almost as expensive as villas. Within a given budget, one can conveniently choose either of these options based on their other preferences.
Return on investment from apartments and villas
A vast majority of the real estate buyers in India are nuclear families, for whom smaller set-ups like flats in an apartment are ideal. Owing to its affordability, apartments would find takers more easily, if the owner were to rent it out, irrespective of its location.
Villas not only can easily get high rental but also gives fruitful returns from a resale point of view. When it comes to appreciation rate, villas appreciate faster because of more personal land, in comparison to apartments. Due to this reason, villas are a better investment.
While villas and flats/apartment complexes have their fair share of advantages and disadvantages, other factors to consider aside from the ones mentioned above are those of security, community, facilities etc. Where villas offer space and freedom to do with it what you’d like, apartments offers positives in terms of better security, access to club facilities, ease of being rented out and more. While there is no definitive answer to the villa or apartment debate, there are ways to work around it. You could, for instance, opt for a villa in a gated residential complex, which offers the same amount of security, facilities, ease of management and an equal sense of community. While you may not win in terms of price or location, you might get your money’s worth by investing in a piece of real estate that offers you a taste of apartment living mixed in with the luxury of independence offered by the villa life.
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