Owning a house is an accomplishment. But this accomplishment consumes a lot of your hard-earned money, time, energy and emotion.
How do you decide what kind of home you want, though?
While budget usually plays a prominent deciding factor, your lifestyle also has a very important role to play in deciding the kind of house you should buy.
In the end, it is you and your family whose needs, preferences and priorities make your house a home and prove your decision right or not-so-right. Your house should reflect your lifestyle and should make it easier for you and the family to lead the kind of life you desired.
Let us look at the various options available today with their respective characteristics:
Apartment
An apartment is the modern trend in the urban India and is possibly the least expensive option for a homebuyer.
An apartment comes with these advantages:
- The sense of community
- Power backup
- Security around the clock
- Access to the club, swimming pool, playground for the kids, and a community centre
There can be more goodies depending upon your budget and the chosen project.
However, the downside is that you don’t own a piece of land, and the area you get could be tiny for the price you paid. You won’t be able to alter the construction of your apartment to a large extent.
Despite the hefty maintenance fees you have to pay, you are dependent on the builder, staff or the apartment’s committee for several things, reducing your sense of ownership.
You should choose an apartment if you are:
- An individual with a strong sense of community
- Have a fixed budget
- You are fine sharing common areas with your neighbours
- You love conveniences and easy access to amenities
Villa
A villa is the most expensive option when it comes to home buying. But it is also the option that offers the maximum independence and luxury.
Clearly, it is for those who can and want to afford a lifestyle not dictated at all by others. Whether you want to build multiple storeys in your villa or not, you should consider that the efforts, time, and money required to furnish it.
Depending upon the choice of location, budget, and your lifestyle choices, a villa may give you the option to build a yard for some gardening, a garage, balconies, spacious bathrooms, and bedrooms.
However, given the urban situation of India, you might need to spend time and money in arranging a power backup, security, Internet connectivity, and regular maintenance.
Buy a villa if you are:
- An individual with a flexible budget
- Love space and the freedom to experiment
- Prefers open gardens
- Doesn’t mind the extra time and effort to maintain a villa
- Loves the good times – a little bit of flaunting never hurt anyone!
A builder floor
A builder floor gives you more freedom than an apartment and in many cities of India, can be registered independently as well.
Whereas they are typically pricier than an apartment, they still give you the benefits you imagine in a villa for a much smaller price.
If you are looking for the sense of space a villa gives but have fewer bucks to pay while having the freedom to alter the design and remodel it, a builder floor might just be what you are looking for.
Consider a builder floor if you are:
- An individual with a higher-than-usual budget
- Desire to experiment
- Needs to combine amenities with convenience
Farmhouse
An option for the wealthy and those who want to stay away from the hustle and bustle of noisy urban life. There are government regulations about using a farmhouse for inhabiting them. Considering what you’re legally allowed to build, a farmhouse away from the town may give you a sense of space and independence no other option can. However, it’s likely to be away from most urban facilities as well. This is why it requires
Penthouse apartment
The penthouse apartment is referred to the top-most floor in an apartment building. These floors are usually the prime property of the apartment and are differentiated from the rest of the flats in terms of luxury houses.
A penthouse is a great option for someone who loves the cosiness, security and neighbourhood that comes along with an apartment building without compromising on the luxury features. Of course, the budget needs to be way higher than that of a regular apartment flat.
Consider a penthouse apartment if you are:
- An individual with a high budget
- A sense of flair
- A love for luxury
- A sense of design
- A creature of comfort and convenience
Choosing an apartment, in the end, is not just about the budget and locations. The kind of persons we are also makes a difference.
This article was originally published on www.thehindu.com