Individual house or Apartment - A Dilemma

The dilemma of whether to buy an individual house or an apartment drives most people -including me - up the walls. Nevertheless, a sound decision needs to be made when you are choosing your humble abode. Simply put, it all boils down to the individual’s preference, depending upon the size of their families and their budget. Due to the increasing population in cities like Trivandrum, the prices of individual houses are soaring. It is rather beneficial for a small family to invest in an apartment, as the maintenance cost would be lower and the resale would fetch a decent price as well.On the hindsight, apartments also come with a plethora of facilities like security, centralized gas supply, gym, swimming pools and what not; whereas, it burns a hole in the pocket to include these facilities in individual houses. Getting loans for apartments is much easier than for getting one for individual houses, as banks mostly qualify a set of builders and their projects. The stages of construction also vary in both these dwelling places. The investor is always at the mercy of the apartment’s builders, but an individual property owner has the liberty to build his own house. Finally, the resale of apartments is much easier than to sell off an individual property. Anyway, at the end of the day, it all comes down to the preferences and likes of the individual looking for a place to stay or rent.