I think if you own a house it will benefit you more. though the maintenance cost will be higher but it will also give you better returns and also you get more area at lesser price too.
An apartment can be renovated at the lowest expense, in comparison to a house and this labels it as the most viable investment destination. So what you have planned for @ Mohajit, Apartment or a house?
One of the biggest benefit of buying an apartment is that the investors can can also fill their pockets with appreciating land values in the future, although they may not have a direct land holding. Another factor that sharpens the appeal of apartments, is that the renovation expense is quite less (requires coat of paint and changing of door handles) in comparison for houses
Purchasing an apartment will offer a buyer the experience of luxury and elegance at easy rates. On the contrary, a house offers same amusements by at an overpriced rate. Finance for such apartments are available from numerous banks. This adds brownie points to the buying behavior of apartments. Hence, it can be said that buying an apartment is better than a house.
I completed agree with Mr Sagar, even apartments do not stand in need for regular maintenance unlike the houses. Property owners are under the unnecessary obligation boundary, to look after the house while apartments owners are more sorted out. To put it simply, apartments owners free from the onus of ‘regular maintenance’ unlike the house owners, and the existing problem is faced with the aid of supervisors.
The culture of apartments is catering to the needs of more than 70% of the property buyers in the market. Acquiring luxurious and classy apartments has recently caught the fancy of affluent buyers for its additional amenities, which are unavailable in houses.
Location, time-horizon, risk appetite etc. would determine which one is better. For example an apartment in far-flung area, that is not well-developed, well-connected and far from employment may be a liability for a while. You pay maintenance, the building/structure depreciates due to aging, you don't find people to take it up for rent, and semi-furnished apartment can get burgled etc. If you purchased this apartment by taking a loan, then your interest outgoing may outstrip the property value appreciation. An empty site/plot in such area doesn't incur such problems.
OTOH, an apartment in an already developed, rapidly upcoming area, where infrastructure is reasonably okay (if not best), metro plans announced, near major business establishments/sources of employment, are likely to see rapid appreciation, and you can put it up for rent on completion. In these areas, the cost of land (site/plot) may be already very high, and perhaps out of reach for many people.
Be it apartments or houses, both have their own set of benefits and drawbacks. Hence, a buyer/investor needs to be crystal clear with their needs and preferences when it comes to property buying.
Buying a property, hands down, is one of the biggest plunge one can ever take, when it comes to investing for higher returns. Hence, making the right move is imperative to rake in the moolah, in the days to come. According to property consultants, right knowledge and data at the buyer’s disposal call the shots for higher capital growth and rental returns in the future.