Home is a place where you feel comfortable and secure. Home is where you can spend your time with your friends and family. Hence, before buying apartments or townhomes, one must always examine whether the place fits your needs and gives you peace of mind or not. Community Apartments or independent houses both have their pros and cons, and your choice depends on the kind of person you are.
Houses are known as reliable forms of investment. Nowadays, owning a home is a financial aim that exceeds religion and nationality. Investing in a house is one of the critical lifetime investment decisions. The question arises whether to invest in an apartment in a good community or get an independent house. Selecting which one is better for you depends on factors like location, accessibility, security, financial situation, the purpose of the purchase, and lifestyle preference.
Usually, properties with high metros rates compel most buyers to look at community apartments as their preferred choice as these are slightly less expensive than independent houses. Many factors have given rise to the increase in community living in big cities. For example, there is an increase in land cost, migration of people for jobs, a compact lifestyle, nuclear family, etc. While on the other hand, living in an independent house has its charm. Here, we will talk about community living and independent homes and find out which is a better choice.
Community living is one of the preferred ways of living. Community apartments are always high in demand, as they are the most popular property type due to its developing infrastructure and comfortable facilities. For self-use and renting purposes, apartments are a good choice. These apartments have spacious buildings with luxurious facilities for a comfortable stay.
Merits of community living
When we look at buying a home, security is a prime concern. Most community apartments have several layers of entry. Foundry by the park apartments provides you the best apartments in Dundalk with greater security. A thief cannot get access to your home in an apartment as people live close to each other, which helps replace criminals, making apartments more safe and secure.
In community living, neighbors live close to each other. All types of families, including couples, families with kids, and families with young children and elder parents, live in a community. This gives you more chances of getting to know people from different walks of life; people you generally won’t meet elsewhere. Also, communities usually have many shops, restaurants, schools, etc. in the neighborhood. At Foundry By The Park, we have many such facilities near the community.
3. Relatively Lower Costs
Community living can be much more cost-effective than living in independent houses. You will be able to save money by paying less rent and electric bills. The rent for apartments is usually much cheaper compared to independent houses.
Demerits of community living
1. Limited privacy
As in community-living, people live close to each other, which means the levels of privacy are reduced. Sharing walls means sounds on the ceiling, voices through the walls, sounds of vehicles, and other noises will be common.
2. Highly populated
Common areas and amenities of apartments are crowded. For example, gyms, parks, pools, etc. can be challenging for many people to live in such crowded places.
3. Limited land ownership
You own minimal land ownership. Or, in simple words, you only own the unit you purchased and things within it. You have a minimal share of the land.
Independent houses are preferred by those who want the privacy of an independent home. An independent house owner has privacy and control over the design and architecture of the house. The owner can use materials of his own choice cost-effectively along with maintaining the quality.
Merits of independent houses
1. Ample space
Independent houses are spacious, and there would be space around the house as well. Unlike apartments in general, independent houses have a lot of space.
In independent houses, the level of privacy is greater than in apartments. No thumping sound on the ceiling, hearing other people through the walls, etc.
3. Long-term investment
As long term investments for 5 or more years, independent houses often yield better returns than apartments.
Demerits of independent houses
Independent houses are more expensive than apartments. They are often double or triple the price of an apartment.
Maintenance is difficult in independent houses as the owner has to do it on his own, which is difficult.
3. Hard to rent out
Independent houses are often tucked away from the hustle-bustle of the city. This aspect makes it hard to rent out.
For a nuclear family, apartments in communities are the best option in a metro city. They can provide them with luxurious facilities with other necessities. In contrast, independent houses are best suited for someone who has a big family and the financial strength to complement such a lifestyle and is particular about the neighborhood and its privacy. Hence, the choice is based on your tastes, needs, and budget.