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Comparison Between Living in Apartment and House

Are you thinking of buying a new property for renting? Perhaps you are in dilemma whether to buy an apartment or a house.

Few years back, people dreamt of having a beautiful house of their own with a big lawn in the backyard and a swimming pool etc. However, due to many reasons people are no longer going after big house any more.

If you look at it then you may find pros and cons for both the options and most of you must have experienced living in both these types of accommodations at some point of time in your life.

Now if you want to give a thought about this to know which will be your best option then you need to consider three important factors:

  1. Your financial circumstances at present
  2. Your present lifestyle
  3. Your plans for near future.

Usually, houses and apartments are meant for different periods of our life. Those who are single or just a couple may prefer apartments while a large family will prefer to live in a house.

So, in this post let us try to help you decide what should be the right choice for you.

Costs

Let us say you prefer to buy Avalon Apartment Homes then the floorplan will be much smaller than any house, and hence it will be more cost effective in terms of rent and also other utility bills.

However, you must also remember that while you own an apartment within a block then it comes with certain expenses on your mortgage, e.g. body corporate fee, which will cover few things like ceilings, common area services, boundary walls etc.

While buying property, you must think ahead and also consider the cost that you have to bear for maintenance.

Maintenance

While renting an apartment, all issues about maintenance will be passed to the property manager. All lawns, gardens and pools will be maintained by professional, and hence you have to concentrate only on your interior maintenance.

In case of houses, the maintenance cost will be higher particularly if you are owner of the property. If you are renting house then maintenance will generally be covered by the land lord.

Lifestyle implications

In the apartment life lifestyle, you can have ease of maintenance, living closer to work and transport area and enjoying city lifestyle.

At the same time, you have to accept and follow the rules of the owners’ corporation. Hence, you may have restrictions in having pets, hanging or washing clothes in the balcony.

Also, you may need approval for installing air-conditioning or to make any changes etc. In case of own home, the only barrier is approval from local authorities.

Amenities

Apartments usually provide amenities e.g. small gyms, entertaining/ BBQ areas, pools, storage cages and also laundry rooms.

Security

Most apartments have added security and therefore it is really very difficult to make break-ins in the house by any intruder.

Therefore, based on the above comparison, it is important for you to think about the current lifestyle needs of yours, before you decide about the type of property that will be best suited for you.

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