With the real estate industry growing and property becoming increasingly more and more affordable a lot of young entrepreneurs might want to live in their own property. As compared to houses and more luxurious price tags on the real estate market; apartment or flats are quite affordable to people. In our culture especially property translates to power. This is why buying your own property is going to be something on your bucket list.
On the other and some financially well-established individual might move out of city and take their primary accommodation in a flat. People mo0ving from lower income backgrounds into the big city environment will also seek out flats and apartments for rent as they cannot afford their own housing. A case can also0 be made for individuals who are looking to downsize their living space because the emptiness of their big house feels far from home-y or they might want to cut down on their budget.
In all of the above mentioned cases people are going to be moving into an apartment from usually a house. There are different perks and downsides when it comes to apartment living. In this article we will discuss them, in detail as a heads-up to those who are going to move into an apartment soon.
Usually flats and apartments are th90oughtof as a downgrade to fully furnished homes but that is simply not true. There are a number of benefits one can reap from living in an apartment which wouldn’t be available in a house. These are the following:
Maintenance of property:
People who move into fully furnished homes for the first time do not realize how much time energy and costs it takes up to maintain the property. In a smaller house it is quite common to miss the added nook and crannies which can accumulate a lot of dust and be invading to molds and insects. That can lead down to a hazardous path very quick.
It is not also unheard of to see home owner’s complaint about the different electrical outlets getting faulty one after the other. All the repair costs are going to slowly add up on your budget and it is going to be quite a large sum over time.
For living in an apartment you can save yourself from all this trouble. The costs of buying and maintaining the property are significantly low. Moreover if all or most of the living space is occupied; you are less likely to miss own on the gathering mess that can lead to health hazards. The repairs associated with a flat are also going to cost less as compared to a house.
So all things considered; if you want a property that is easy to maintain then you should always opt for a flat or an apartment.
Amenities at an arm’s reach:
Apartment complexes are a great place to live as they are packed with in built amenities. Most apartment complexes can offer a lot of facilities that might include an inbuilt community gym, a public pool at the rooftop and more just for the residents of the complex. This is in addition to the facilities you are likely to find surrounding your property.
Many apartment complexes are built with the intention of being near commercial areas where job offices are found. Scattered throughout the commercial areas are a wide variety of facilities that are just at an arm’s reach for someone looking to live in an apartment complex.
On the other hand consider the case of a fully furnished house. You might know about the numerous state of the art real estate projects that have helped establish gated and secure communities.
The exclusivity of these communities can be limiting when compared to an apartment complex. In built facili9ties might be up to par however they are not as varied and numerous in the cases where your apartment complex is amidst a commercial sector. For those secure and posh gated communities you will most likely need to drive for special facilities; as compared to walking distance that apartment residents can enjoy.
As we briefed above that the affordability of a property is one of the biggest hurdles for real estate investors. Due to the inflation over the years the dream of owning one’s own property might seem like a farfetched idea however newer developments offered under real estate projects are aiming to change that perception.
Even if the overall costs of real estate are moving towards becoming more affordable; you can always compare the costs of flats and apartments to be lower than that of fully furnished homes. This lower bar of entry for real estate investors can make the dream of many average office goers in Pakistan.
Disadvantages of living in a property:
Although there are many ways in which flats can win over houses; however there are some disadvantages in such property types that also need to be discussed before you weigh your options. Without further ado let’s discuss them:
Although for some apartment spaces might be ideal for their lifestyle; for others it can be a big obstacle in quality of life. Consider for a newly web couple a single or even 2 bedroom apartment can be quite effective. On the other hand for a person with a bigger family or a joint family might find it quite impossible to0 live in a flat and expect a smooth flow of life.
Flats are smaller in size as compared to houses and therefore also have less storage space. Fully built houses may even be equipped with a particular storage room to hold or pack away the extra stuff you don’t need in the moment. Flats usually don’t have the space to put a storage room separately. Even if you are lucky enough to get a storage room; the space within it is not as sufficient as that of a fully furnished house.
The issue of property space is a matter of perspective depending on who is investing. But you cannot add onto an apartment’s area at all; so your own situation needs to be considered before you invest.
Closed in with neighbors:
In a lone standing properties you can easily enjoy your privacy and freedom of living; however in apartments and flats you are closely placed together with your neighbors. You might find a disadvantage in this.
Being too close to neighbors especially the nosy ones can be a major detriment to quality and peace in your living. Moreover having tough neighbors that are often going to complaint about noise from your end are also to be expected. The shared amenities might not feel as luxurious as they would for someone living in a lone standing house.
Hearing neighbors passing by, frequent knocks on your doors, hearing people talk outside, loud thuds and thumping sounds from people passing by, if in a commercial area; listening to the hustle and bustle of city early morning and at your weekends might be the new norm for you by moving in an apartment complex.
This once again is not a guarantee that you will have all of these bothersome experiences while living in an apartment; however we cannot be sure of what the apartment complex is like before you start living there.
Rules of the apartment complex:
Although gated communities do have a general guideline of rules for their residents to follow you cannot compare to the extensive and at times tedious demand that apartment complex buildings might have, we just went over the pestering nosy neighbors or the ones that always have something to complaint about. In addition to dealing with such people you might also be bound to a strict set of rules and breaking them can have consequences from the community.
Especially if you are renting; these rules might demand you to alter your quality of life if you want to live in the building. Rules like no going out after a specific time, profiling of all your visitors, no parties or celebrations to be made indoors, no pets to be allowed, no overnight stays and all are quite commonly observed. Moreover the rules and regulations for the apartment gym or pool might be a bit extra to comply comfortably with.
Even though you might be completely fine with following this set of rules; they are definitely not as liberating as living in a lone standing property within a fully furnished house.
The concept that apartment living is a downscale from community living is false. There are many upsides to this property type. It can save you time, energy and costs of living. However there are a few downsides that might be present as to hinder the quality of life when compared to lone standing properties.
We hope you found this article informative.