To reside in our own homes is a dream that many of us harbor and are working hard towards achieving. However, the age-old question before homebuyers is what to settle for, an apartment in an enclave or an independent house? Given below are relevant features of both these residential options that are available today and their pros and cons:
Apartment – These are residential units that are located within buildings constructed by real estate development companies. The enclaves have large communities of people residing in these buildings who share common spaces and the available amenities. An advantage of living in an apartment is that maintenance is taken care of by the owner or the society. These complexes also offer a wide array of luxurious amenities and feature on-site security systems. There is also a strong sense of community between the residents of the enclave.
Independent House – This dwelling is constructed on a free-standing plot of land and is constructed by the owner of the property. The advantage of owning an independent house is that it can be constructed to meet the residents’ needs and tastes. These residences are exclusive and private and usually feature garden spaces. Most independent houses do not have a security system in place.
Apartments are in demand in the residential real estate market of Bangalore, and every builder is developing apartment complexes. This is not to say that independent houses have no takers. Land prices are soaring, and the rate of appreciation of independent houses is far greater than that of apartment units.
In order to choose between an apartment or an independent house, the homebuyer must evaluate their priorities. Apartments offer amenities, security, and a sense of community, while independent houses are customizable, exclusive, and private residences. Banks also offer loans more easily for investment in apartments versus independent houses.
The Prestige City new launch township at Sarjapur Road, East Bangalore.