Buying a home is a dream for everyone because homeownership is not just a status rather it’s a feeling of pride. And when one steps into the property market to fulfill their dream of buying a house, they find the market full of the frantic pace at which residential apartments, office buildings with several floors, shopping centers, complexes, innovation parks, and other structures are being built.
A city like Mumbai had to rise vertically for a variety of reasons long before other Indian towns genuinely accepted this pattern of growth. Although flats have become the result of obsessions so far, people nowadays are looking forward to choosing between bungalows and flats.
Let’s understand the principal difference between an apartment vs bungalow in 2022.
Scroll down and spot the difference with the help of the example “Flat vs independent house in MMR“.
Flat Vs Independent House
Residential real estate India is a market with exponential growth in the country. People nowadays prefer to buy a home rather than pay rent for a longer period. They prefer to pay EMI instead. Thus, when buying a home, people usually get confused between choosing a flat or an independent house. Let’s understand the key differences between both with the example of top bungalows in MMR and the best flats available for sale Mumbai.
Benefits of Owning a Flat
- Broad options at varied costs in multiple locations.
- Financing a flat on a mortgage is quite easy.
- Flats do not come with any landlord hassles.
- Flats are usually inexpensive and safer.
- Gated neighborhood and live as a member of a group.
- Multiple facilities are at your doorstep, such as an ATM, a gymnasium, a shopping complex, a swimming pool, and so forth.
- House-related problems are resolved by the builder’s association.
- Elevators help elderly or medically unfit people climb floors easily.
Benefits of Owing an Independent House
- An independent house provides better exclusivity and peace, often with a garden or open space.
- You can always extend your house in and out.
- Enhances your social status while not invading your privacy.
- For instance, an independent house comes with a higher degree of customization. For instance, you can get a personalized workstation or library.
- You can make a garden for yourself and decorate it with your choice of flowers.
- A bungalow allows you to accommodate a big-sized family for a long period of time.
- An independent house comes along with the freedom from mandatory maintenance fees.
Which is a Better Investment: A Flat or an Independent House?
A standalone bungalow in the middle of the city is usually unaffordable, aside from the fact that limited site availability makes new construction difficult. In such a situation, the majority of bungalow projects are developing in areas with good land availability, which is rare in the city’s central districts.
The liquidity that an investment provides is one of its key qualities. The advantage of flats over bungalows is that they are easier to sell because of their relatively smaller ticket sizes and owner convenience.
Therefore, we can say that both flats and bungalows have different living quotients, so you must make your decision based on your preferences, investing philosophies, and available funding.
In a nutshell, these are some of the key benefits and differences between apartment vs bungalow in 2022 which you must consider to check your preference and make a wise decision when buying a home, be it amongst the top bungalows in MMR or the best flats available for sale Mumbai.
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