Here is a listing of the pros and cons of villas and apartments. We hope this is helpful for you to take the right decision in real estate investment.
Houses have always been a solid form of investment. Whether you invest in renting or if you have plans for selling it later, they promise you the best return on investment. But should I invest in an apartment or a villa? Which is a better option? These are some of the questions that the builders in Kochi have been facing forever! While we cannot provide definite answers for your dilemmas, here is a listing of the pros and cons of villas and apartments. We hope this is helpful for you, even if you did not get the answer you were looking for!
Villas - Why and Why not?
The main attraction of villas in Kochi is that you get to have that feel of an independent home, while still enjoying all the benefits of a housing society. Villa communities are generally a series of independent houses based on amenities or other features. Additionally, they may have common areas and clubhouses.
Here are some of the main benefits of villas:
- Space: Unlike crowded apartment spaces, villas offer space in plenty. You have an independent house and thus you have ample space around your home.
- Better for long term investment: If you are planning for a long term investment like for seven or more years, a villa will be your best option. This is because villas have better appreciation rates compared to villas.
- Privacy: You definitely get more privacy as there is no wall sharing and no footfalls on your ceiling. You may play loud music and cook whatever you want.
- Healthy atmosphere: In most cases, villas are remotely located compared to apartments. This means less pollution and a peaceful life.
Here are some of the drawbacks of villas:
- Expensive: This is an obvious drawback! You have got the house and land to yourselves, and it is not a wonder that villas are 3 to 5 times more expensive.
- Difficult to let: The fact that tenants usually prefer homes that have easy access to the city. As villas are usually tucked away from the city, it is not easy to rent out villas.
- Maintenance: Maintenance can be a headache if you own a villa, as unlike apartments, there is nothing in common. You have to take care of an individual house completely by yourself.
Apartments - Why and Why not?
It is obvious that there are more apartments in Kochi than villas if you take a look around. This is not surprising as apartments provide more housing, and are more economical. Apartments also provide some of the best luxury amenities.
Here are some benefits of apartments:
- Better security: It’s not that villas communities are unsafe, but flats in Kochi have people staying close to each other, and thus stands better in a case of emergency.
- Vibrant neighbourhood: The very idea of staying close to each other have chances of your neighbours becoming like family, and celebrations become more fun.
- Easy to get tenants: Apartments are easier to let out as people who migrate and look for smaller units prefer apartments.
Now take a look into the drawbacks of apartments:
- Limited Privacy: There is always noise, sounds through walls, and vehicles. Sometimes windows and balconies look into other apartments
- No land ownership: You are the owner of only the apartment unit that you paid. Even if you own some land, the divided share is often very small
- High population: If you do not like crowds, apartments may not be the best choice for you. The common amenities like gyms or pools may often be crowded.
Hope you get the pros and cons of villas and apartments and this will help to find the best option for investment.