Apartment or Villa – Which is better to buy in Pune
Pune is the preferred location for many owing to its booming economy, location advantage, and the quality of lifestyle it offers. Every year, thousands of families buy houses in the city, and this number is only expected to rise in the future. There is a high demand for houses in Pune, be it flats or villas. It offers many choices to buyers owing to its buoyant real estate market. One may choose to live in an apartment or a villa considering many factors like budget, family size, lifestyle, etc.
If you are also confused about choosing which is the better apartment or villa two, let’s discuss each point in detail and see which one is better to buy in Pune.
Villa vs Apartment?
Selecting between an apartment or a villa is a decision that depends on various factors- Lifestyle preferences, choice, and budget. A family purchasing a property has to make a lot of decisions and see if it matches everybody’s wants and needs.
Property Price
Generally, the price of a villa is more expensive than an apartment. Villas have a larger surface area and can include external garden space, making it more expensive. Comparatively, apartments are less costlier than villas.
Space Available
Villas have more indoor and outdoor space than apartments. If you personally prefer a garden, terrace, or backyard, a villa might be more suitable for you. Apartments are generally closed spaces with shared amenities. Even if the carpet area of the house is large, it will generally be an indoor space only.
Privacy
Villas are stand-alone buildings with no shared walls with adjoining houses. Villas are built under a boundary wall and are generally gated. They provide great privacy to residents. Apartments, on the other hand, often have neighbors on the same floor and may have shared walls.
Ease of customization
If you are thinking of a villa or apartment that is better, one point to consider is the ease of customization. Villas are independent houses and offer more scope for personalization than flats. Customization inside a flat may require the builder’s approval and may be unsuitable because of the layout.
Amenities and Maintenance:
Maintenance of a villa is a pricey affair as it is more of an individual’s responsibility. Apartments have shared amenities such as parks, gyms, swimming pools, and security services, and the maintenance is typically managed by the housing society and is not an individual responsibility.
Must Read: What Are Apartment Amenities? 8 Must-Have Amenities in 2024
Sense of community living:
Lifestyle in apartment living promotes and encourages a sense of community living as it has shared spaces and common areas. People from diverse cultures and backgrounds use the amenities, and they get the chance to interact with each other on a daily basis. While on the other hand, villas offer more isolation, which may be appealing to people seeking a quieter lifestyle.
Resale Value
The resale value of both apartments and villas greatly depends on the location, demand, and market trends; however, as compared with villas, apartments in high-demand areas serve better resale value.
Location
Consider the location and the neighborhood preferences when you think of villa vs apartment. In Pune, it is easy to find apartments in various popular parts of the city, but villas are often located in suburban or semi-urban areas.
Investment Potential:
While apartments might offer more liquidity and potential fixed rental income, villas could appreciate more over time due to limited supply and increasing land prices.
Rental income
In addition to the basic worth, villas always have a low rental yield due to their pricey maintenance. The nuclear family setup makes up the majority of the population in Pune, and flats or apartments are the popular choice for them. If we compare flats vs villas with respect to rental income, a flat has a more steady rental potential.
Which is better – Apartment or Flat?
Considering both the property options and looking for what is best- villa or apartment, there is no right answer. Each comes with its share of benefits and disadvantages. Apartments are preferable in terms of security, amenities, facilities, and community living. Also, it is very easy to rent it out owing to the large demand from nuclear families. However, villas offer more space for the family, more privacy, and freedom to customize the house.
There can be some arrangements that work out in favor of a villa or flat, like choosing a villa in a gated community. It will provide more safety and easy access to amenities and create a sense of community.
It is important to consider your individual preferences and evaluate the pros and cons of both options to conclude this villa vs. flat debate.
