With multi-family establishments steadily drawing the curtain over single and independent houses, buyers are in doldrums. Choosing between the fast disappearing villas and rapidly multiplying high-end apartments is a conundrum that haunts buyers during their decision phase. Most of us want to own a house when it involves such hefty investments. Though some do not mind living in apartments taking into account the shocking prices of villas and their dearth in the real estate inventory, many others are drawn towards luxury condominiums and the glamor and glitz of owning one.
If you really have to draw the line between single establishments and self-contained units, then the first thing that deserves mention in the context is that apartments are cosmopolitan while villas are quaint and suburban.
Monetarily, each has its advantage. Buying villas near Yelahanka or in the suburbs of Bangalore might cost you a lot lesser than bidding for a luxury apartment at the heart of the city. So, it’s a win-win for the buyers because, for a lesser price, you get the land, a well-built house with interior design, structural integration and such. Whereas, an apartment in the busy downtown may cost more, but it can offer an advance-designed space and a collection of accoutrements.
Though the value of both appreciates over time, there is a gulf of difference in between. Observing the current trend, apartments of today will have greater resale value tomorrow than villas. But, a counter theory that poses a reasonable argument to this prophecy is that villas in the future will be as scarce as hen’s teeth. According to that logic, investing in villas today will be more profiting in the future as these properties will sell at the price of glory 20 years down the line.
The Practical Point of View
Yes, owning a villa in the age of space-saving high-rises is a privilege, but it comes with a set of challenges. Buying a house means you are buying the responsibilities of it too, and you alone have the ownership to them. Starting from painting the fence line to mowing the lawn, fixing the plumbing to mopping the floor, you do everything.
As opposed to that, apartments offer the residents with the benefit of maintenance for a price. Apartment owners are liable to make a monthly payment to the maintenance fund and all issues are taken care of with that.
However, it also binds the residents into a perpetual system of payment whereas home owners can choose the time and occasion of their expenses. If you think you can delay the pool cleaning for a month, you are free to attend to the more immediate needs at first. But, in an apartment, no matter how hard-pressed you are in a month, you have to oblige as agreed.
Taste in Aesthetics
It has been proven that home buyers have different taste in architectural aesthetics than city dwellers living in apartments. A duplex home is essentially different from a penthouse, especially in terms of architectural planning. So, if you like open windows and terraces, patios and gardens, personal pools and massive living spaces, it is definitely a villa for you. On the other hand, if you are a view person, whose style of living is nothing shy of luxury and modular, then an apartment it is for you. These days, apartments offer breathtaking views that villas cannot manage.
In the end, it all comes down to one’s personal preferences. Villas come with a lot of freedom and privacy. Though apartments are not exactly stingy in privacy, they do not promise seclusion either. To live in a posh apartment, you have to be a city dweller, but you can choose the bucolic openness of suburbs if you pick a villa.