When it comes to making a choice between a villa and an apartment, the final answer varies according to many things. Do you have a family with elders and kids? Are you a working professional that is still unmarried, or are you a couple with both partners working? Do you need a cleaning staff or house help to complete the house chores, and if yes, then can you afford to keep one?
Well, it is obvious that family expands and that bigger houses ensure an ample amount of space for everyone. But, can your income support the family, all the while catering to the maintenance and upkeep of that big house? Or, are you a fuss-free person that loves the pace of city life and needs a small nest for just the two of you for now?
Today, we discuss how to choose between a budget villa and an apartment and what are the major things that you must consider before making the purchase.
Budget villa or apartment – Decide after reading out the factors listed or below.
1. How much is your Budget?
While you might think that a budget villa in Kochi might be highly affordable, the case might not be so. Location, size, facilities and the quality of construction also matter. So, we recommend coming up with a budget first and then start finding the options. If you feel that your budget can afford a budget villa, we also recommend you consider the maintenance and upkeep cost.
2. Number of family members
If you are a big family with elders and kids in it, you need a spacious establishment to live in. Thus, a budget villa might be a good option that can offer a perfect outdoor and indoor space for every family member. You can utilize the garden and balconies for various things, such as gardening, growing vegetables, a playground for your kids and for creating specific areas for sitting and recreation. Having such a setting also allows your parents to enjoy outdoor activities to pass their time.
Now, if you are living alone, then buying a villa for a single person is a bit outlandish as it comes with many additional costs and pressures. So, an apartment is a better option as it offers you a neighbourhood, basic amenities, an easily affordable lifestyle and all the perks of city life.
3. Location is of immense importance
Villas are generally located in suburban areas outside the city. So, you might find some troubles related to commuting, transportation and availability of amenities. However, many builders offer independent villas in complexes with everything available under one roof. Hence, the location of the property is another important factor that you must consider while choosing between a villa and an apartment.
4. Degree of Customisation
Apartments are pre-planned property units and generally offer a limited scope of customisation in terms of floor plan. While you can get the interiors done as per your taste, expansion of the space in any area is mostly impossible. On the other hand, villas are independent land units that can be easily customised and changed from time to time as your requirements evolve. Further, you can also change the outdoor area in a villa, which is impossible in an apartment.
5. Safety and Security
All of us want to live in safe and secure homes where we can live our lives without the tension of thefts, or any other crimes. The apartments are safer and more secure as compared to an independent villa, as they are located in a high-rise building with tight security, proper surveillance and gate security. All these things require individual attention and initiative if you are buying a villa. While the villas in Kochi offer security and surveillance services, the density of people living there is still low and you have to be alert for your security and take proper measures.
6. Chances of Tenancy
There are many people that buy homes as an investment or for wealth creation. A majority of such people also opt for raising the property on rent to make an extra income, to balance the loan EMIs with the monthly rent, and for the regular upkeep of the property. Now, if you are also having these thoughts, then, you must keep a few things in min.
- Villas are harder to rent out as compared to apartments.
- Villas can be used for cheap traveller accommodation or luxury escapades as per the location and property characteristics. But, you have to invest in caretaking staff etc.
- Apartments put on rent require less maintenance as compared to a villa.
We hope that you find this post helpful in making the final choice between an apartment and a villa. If you are still not able to figure out the better option, we recommend consulting some reputable property advisor and make a profitable and smart choice.
After all, buying a house is a major investment that requires a lot of input and insight.
For more expert guidance, please reach out to us in the comments section.