Apartment Vs Independent House — Factors to Keep in Mind
When you’re about to pick your dream living space, you naturally get confused about choosing an apartment or an independent house. Your decision is also critical when availing of a home loan for your real estate investment.
These two real estate properties have pros and cons, so assess your financial situation, family size, desired lifestyle, location and maintenance preferences, and long-term plans before you commit to either one.
This comprehensive article serves equally to you if you are categorized as follows: first-time buyers, seasoned investors, families with children, or retirees, and it discusses some key factors you must keep in mind when choosing between an apartment and an independent house.
Apartment Overview
An apartment or a flat is a type of real estate property that is controlled and managed by complex officials or builders. It is often located in urban areas to provide you with modern amenities like kids’ play areas, gyms, swimming pools, enhanced security, community spaces, etc.
Due to high demand and excellent rental income, an apartment can be an ideal investment option as well. It is part of a multi-story building that features shared common walls and facilities with other units. Moreover, apartments are strategically built near hospitals, schools, colleges, and other necessary social infrastructure, making them ideal for people who want easy access to these places.
Features
- Lower maintenance is required as the housing society or builders are responsible for this.
- They often come with enhanced security, including CCTV surveillance, Gated communities, and 24/7 security guards.
- Lower entry barrier due to its affordable nature.
- Provide access to modern amenities, such as a clubhouse, gym, pool, sports facilities, and recreational avenues.
- Located around areas with access to transportation, educational institutions, and other necessary social infrastructures.
- Ideal for couples, young professionals, or retirees looking for a convenient, accessible, and low-maintenance, community-driven lifestyle.
Independent House Overview
An Independent house can also be referred to as a Villa or a Bungalow. This standalone property is part of a big separate land, which is entirely owned, controlled, and managed by an individual. It comes with optimal freedom, allowing buyers to design the interior and exterior of the house on their terms.
They offer more space than apartments and are often located in suburban or semi-urban areas, providing surreal privacy to their owners. However, keep in mind that when you control an independent house, you’re fully responsible for its maintenance, which can be very costly for you.
Due to its suburban or semi-urban location, it’s quite possible that you may not get access to essential amenities such as security in your locality.
Features
- It offers incredible privacy and customization, featuring no shared walls and providing the freedom to design the house’s structure.
- It has a higher resale value, making it a viable option for future financial planning.
- An independent house comes with more living space for gardens, backyards, and terraces.
- With an independent house, there are no restrictions like raising animals and parking spaces.
- Ideal for joint families or those looking for personalized living space.
Cost Comparison
When it comes to cost comparison, apartments seem to be a preferable option due to their affordability, accessibility, and lower maintenance costs. However, on the other hand, independent houses often end up being an expensive investment due to their initial and ongoing expenses.
Pay attention to the following table as it depicts a more clarified picture of these two real estate’s cost comparisons:
| Cost Component | Apartment | Independent House |
| Initial Purchase Cost | Lower (no land cost, shared structure) | Higher (includes cost of land + structure) |
| Cost per Sq. Ft. | Higher (for the built-up area) | Lower (for total area, but higher overall) |
| Land Ownership | Not owned (shared in common) | Full land ownership (adds long-term value) |
| Registration & Stamp Duty | Lower (on built-up area) | Higher (on land + construction) |
| Construction Cost | Included in the builder price | Borne by owner (if self-built) |
| Maintenance Charges | Monthly fees (shared amenities) | Individually borne, varies with upkeep |
| Property Tax | Lower (smaller size/unit) | Higher (based on land + built area) |
| Resale Value (Long-term) | Good, but limited by building age | Potentially higher due to land appreciation |
Maintenance Responsibilities
Maintenance responsibilities are different for both apartments and independent houses. With apartments, you get the support of the housing society, apartment association, or builder to handle maintenance responsibilities.
In contrast, with an independent house, where you’re responsible for owning, controlling, and managing things (including security), you must pay close attention to managing repairs, utilities, and external upkeep on your own. This takes your valuable time and effort as well.
Here is a more detailed breakdown of both apartment and independent house maintenance responsibilities:
| Maintenance Aspect | Apartment | Independent House |
| Common Area Cleaning | Handled by society/association | Not applicable |
| Water Supply & Plumbing | Managed by society (within limits) | Owner's responsibility |
| Electricity Repairs | Common area: Society Inside: owner | Fully owner’s responsibility |
| Security | Provided by society (shared cost) | Must be arranged by owner (if needed) |
| Elevator Maintenance | Society-managed | Not applicable |
| Landscaping/Garden | Shared (if any) or minimal | Owner-managed (if there’s a garden) |
| Structural Repairs | Builder/society (initially) Shared later | Fully owner's responsibility |
| Pest Control | Periodic, managed by society (optional) | Owner must schedule privately |
| Parking Maintenance | Society takes care (if allotted) | The owner maintains the driveway/garage |
| Garbage Collection | Handled centrally by society | Owner must manage (usually local service) |
Lifestyle Considerations
When opting for an apartment or independent house, a gentle consideration of your lifestyle can take you closer to your preferred real estate property.
Most apartments offer a community lifestyle, which ultimately helps you foster meaningful relationships with your neighbors.
An independent house can feel a bit isolated, but due to its extraordinary privacy and freedom, many people are drawn to it.
So, if you love social interaction and want to live in a community-driven society or complex, you can bet on apartments. If you enjoy your privacy and personalized living space with your big family, an independent house can be your thing.
