Buying Home: Apartment or Independent house?
Owning a home is a financial goal that transcends religion and nationality. Once the requisite financial planning is done and necessary savings accumulated, the next question is whether to buy an apartment or an independent house. Usually, space crunch and high rates in metros compel most homebuyers to look at apartments as their preferred choice. These come slightly cheaper than independent property which could be in the form of a villa or an assortment of floors built on a plot.
Check these best apartments to live in Gurgaon.
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There are many factors to consider like location, accessibility, rent, appreciation, security, the purpose of the purchase, stage of life etc. before one makes this once in a lifetime investment.
These are the best residential apartments in Gurgaon.
The cost of buying an independent house is much higher than that of buying a luxury apartment hence in case of a home loan the requirement will increase in a corresponding manner. It would include the price of the plot, the stamp duty to be paid to the Govt., the clearances required from various authorities, the cost for an electricity connection, raw materials, labour costs depending on city, and the architect fees in case of renovations. In case of an apartment, the builder takes care of the technical formalities and buyer just has to pay the requisite amount for the apartment and move in whenever one desires.
While these apartments come with added values, such as security, enough parking space, power back-up, water systems and fire safety mechanism in place, an independent property needs extra effort for setting up of these services. This would also include an extra cost of 2-3% of the total property value on these amenities around an independent villa property. This would include setting up of small power back-up in the form of an inverter or a generator set and your water mechanism.
Living in a Luxury apartment complex encourages communal harmony and societal living as no discrimination is made on the basis of caste or creed. Society members from all walks of life are welcomed which is lacking in independent house living.
Get more information about luxury apartments in Gurgaon for sale.
