If you’re in the process of choosing between a villa and a flat in an apartment complex, here are a few things to keep in mind to help you make a real estate investment. In all likelihood, buying a house, be it for living or as an investment, will be one of life’s biggest expenses, which is why it is all the more important that you choose the right property with care.
Question 1: Which is costlier, a villa or an apartment?
Price is one of the most important determining factors that drives a real estate decision. When it comes to the villa vs. apartment debate, price favours the purchase of a flat in an apartment. It is no secret that villas are higher priced compared to apartments – even costlier than apartments those that fall within the high-end luxury category. Villas also trump apartments in terms of maintenance cost as they incur higher maintenance fees as compared to apartments. In case of an independent home or a villa, this can work out to be pretty steep as it involves not just regular everyday maintenance, but also upkeep of the garden and common area. Apartments and flats for sale appear to be the more practical option in this case as this aspect of everyday management is taken care of by builders/building representatives for a quarterly/maintenance fee.
Question 2: Villas in the outskirts or apartments in the city?
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. Villa complexes tend to be located in the city outskirts; apartments, on the other hand, offer a wider choice in terms of location, both within the city limits and just outside, leaving you to decide between choices that offer you the best of city and suburban life. This also depends on the family you bring with you. For instance, if you’re a single person who has moved for work to an area like Whitefield in Bangalore, you should ideally keep an eye out for studio apartments for sale, particularly if you’re going to be the sole occupant whose days will mostly be spent outside the home.
Question 3: Will your piece of real estate find any takers in the future?
A vast majority of the real estate buyers in India are nuclear families, for whom smaller set-ups like flats in an apartment are comfortable bets. On the other hand, larger families prefer independent homes or villas. Therefore, if you have narrowed down on the city and locality where’d you like to make a real estate purchase, it is important to account for the demographics of the area, before settling on a flat in an apartment or an independent home like a villa. While it is important to gauge the actual living space you require, it is equally important to ascertain the kind of family units that settle in your area to ensure that your property can be easily rented out or sold.
Question 4: Which is easier to customise – an apartment or a villa?
Villas offer more freedom when it comes to making modifications to your home. Independent houses can also be modified to reflect the changing tastes and styles in the housing market. This degree of freedom is often found lacking with a flat in an apartment. There can be no easy expansion or reconstruction in a flat which, on the other hand, can seem pretty straightforward in the case of a villa.
Villa v/s Apartment – Which One Wins?
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.