Apartment Vs Independent House: Which One Is Better?

 

Mortgage: In case you are purchasing the property by taking a home loan, it now is easier to have the loan for a condo than an independent property. Lending banks often prepare a list of sanctioned projects where a buyer can easily get his loan approved. However, banks sanction loans for independent properties only after strict scrutiny of borrowers. The lending is difficult in the case of independent properties also because of the share of unaccounted cash component. Moreover, it is difficult to ascertain the worthiness of an independent house (Buying a flat on Ferdows Boulevard)خرید آپارتمان در بلوار فردوس.

In the event you plan to get a plot, be aware of the fact that banks in India provide only 60-70 per cent of the total plot value. You will have to arrange the rest of the amount, including that for the stamp duty and registration charges. However, banks do provide construction loan over and above this amount.

If buying an under-construction property: Say, you select to buy a house that will be under construction. You can find challenges. However, the issues reduce drastically when you invest in a condo project. In the event you plan to get a story and then build the house property about it, it will be a long, cumbersome and tiring task accessible to make the property. However, here you would have the main advantage of building the property in just a specified number of time. In comparison, in a flat project, you is going to be at the developer's mercy -- whether or not he wishes to complete the project on time. Cash crunch, poor economic scenario, rising cost of raw materials and labour, and poor sales sometimes hit developers' revenues, resulting in construction delays.

Maintenance cost: Your projects doesn't end here. Once you start living is likely to house, the property needs constant efforts for maintenance, cleanliness and construction & repair. However, it's been observed that the price of maintaining an independent house is significantly more than that needed for an apartment property, as the maintenance is taken care by the society's RWA in an apartment project. Due to the pooled resources in a residential complex, the cost of services reduces drastically. These services take less time than that required in an unbiased property just like a bungalow.

Saleability: Among most of the asset classes, property as a resource class takes more time to resell. And the job may become a Herculean one if it is an independent property. Industry estimates suggest that apartments are actually more in demand. Even Tier-II cities are witnessing such developments. Developers are now bringing apartment projects with a variety of plotted developments. If you determine to sell your property at a later stage, it will be easier to market an apartment. Within apartments, two-bedroom and three-bedroom apartments are probably the most in demand.

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