Which is Better: An Apartment or an Independent House?

Posted by Chandak Group on February 8th, 2021

Generally, a conventional norm for a house purchase is selecting a property at a prime location. Purchasing property at a prime location would give the buyer a better appreciation of their investment. Apartments in Goregaon west are considered to one of the prime locations in the Mumbai suburbs. There could be many questions that can occur to the buyer before purchasing a property, for example, whether they should go for apartments or an independent house. Usually, property value in the metros compel is too costly and due to space crunch, most buyers prefer looking for apartments. Apartments are slightly cheaper while comparing to the independent house. An Independent house is in the form villa or an assortment of floors built on a plot. Before investing in property, you should have some information about what is an independent house, what is an apartment and the difference between them.

Apartment  -The term "apartment" can be generically applied to any residential unit inside a building. Apartments are a good choice for self-use and renting for investment purposes and for people who have shifted to the city for a short time. Apartments are one of the most popular and basic types of property across cities in India. And there are many reasons, for example, contemporary looks, modern-day amenities, in-house maintenance services, and better security.  Apartments in Goregaon west equally level with independent houses in all aspects, and as far as the customization is concerned, it can be done at a small scale without altering the basic set-up of the apartment.

Independent house - Independent house is located on an independent plot and has its boundary wall. The land on which the house is built belongs to the person who owns the house. People who avoid the hassle of constructing a home and want privacy are preferred to buy this type of house. Maintenance charges for an independent house can be a self-bearing cost for a lifetime, and the safety and security of the house have to be taken by the owner himself. This type of house can offer great appreciation and resale value if the buyer has the patience to keep it for the long term. It is also an heirloom that will be beneficial for future generations.

Apartments vs. Independent house

• Apartment in Goregaon west comes with security, parking slot, power back-up, water systems, and fire safety mechanism; independent property needs extra effort and cost for setting up these services. According to research, 2 to 3 percent of the total property value is spent on these amenities around an independent house. It includes a setting up of a small power back-up in the form of an inverter or a generator set and your water mechanism.

• Appreciation of the independent house or villas is not as high as apartments in Goregaon west. It is because of the high initial capital involved and the limited demand for the independent house as compared to apartments. As the demand for apartments is high, it's easy for the buyer to sell or rent out the apartment. While on the other hand, due to less demand for the independent house, it's difficult to rent out or sell the villa.

Concluding Remarks

The choice is entirely left to the buyer. It depends largely on individual preferences and one's financial means, which gives them the freedom to choose between an independent house or an apartment. If you are looking for apartments like 1 BHK in Goregaon or 2 BHK in Goregaon, you can visit www.chandakgroup.com. They also offer 2 BHK for sale in Goregaon West.