Regardless of whether it is, a home or an apartment, the dream of owning your own real estate always sounds tempting. But buying your own real estate needs to be well designed and planned to the last detail as it is still a big investment that to most of buyers happens only once in a lifetime.
House or flat - advantages and disadvantages
Deciding between buying a home and apartment is not a simple choice. Both options have their own specific advantages and disadvantages that may arise from price, location, surface, and other factors.
Crozilla.com brings you some of the advantages and disadvantages of buying your own real estate.
Advantages of buying your own apartment
- Crozilla’s data showed that the price of square meter houses usually cost less than the square meter price of the apartment.
But in spite of this it is worth noting that the house has a significantly higher cost of living, more accurately the cost of monthly maintenance (higher bills) or real estate maintenance.
- Apartment owners bear less responsibility for real estate maintenance costs than homeowners. Large expenditure on the repair
of the building in which the apartment is located is most often set aside from the common reserve of the tenant of the building, while the owners of the houses bear such financial burden themselves.
- Benefits of living in the apartment are also lower monthly costs (bills)
- Flats are most often located in good locations in urban areas.
- After buying the apartment, the owners can rent it. The apartment will be rented faster and easier than a house.
Disadvantages of buying your own apartment
- Making decisions - Limited ability to make autonomous decisions related to greater demands on the building where the apartment
is located. Such decisions are usually made in agreement with other dependents.
- Less privacy than in house - Apartment owners often have to be alert to noise and behavior so they will not interfere with
other tenants of the building.
- Good-neighborly relations - many tenants in buildings do not even know their first neighbors, so interpersonal relationships
are often not as good as in settlements where residents live in homes.
- Lack of additional, exterior, space - flats most often have only a balcony or a terrace, while their own garden is most often
the privilege of the tenants on the ground floor.
- Lower quality of life due to noise and air quality in urban environments.
Advantages of buying your own home
- One of the benefits of buying a home is the ability to decide independently on real estate, property, heating, and many other
things, while in residential buildings it is most likely that the tenants agree with each other and make major decisions.
- The house provides more freedom.
- Because of the larger number of "squares", the residents of the house enjoy greater comfort.
Disadvantages of buying your own home
- The amount you need to buy your own home at a good location can sometimes be an overwhelming circumstance. Although Crozilla's
statistics show that the price of one square meter house is cheaper than in apartments, their total cost is larger, because of their larger size.
- When constructing your own house, you must also pay for the costs of purchasing building land, making the project and all
necessary permits as well as paying for the necessary connections and utilities.
- House maintenance costs are also not small and the owner carries them alone.
- It is very likely that buyers will find a suitable apartment before then the house.
- Poor traffic connections, especially the public transport connection, should be counted when homes are located on the periphery.