In the context of investing in metropolitan cities is a dilemma for the generation next, its better to do a comparative study. Taking you through some interesting and valuable information as to why an apartment living is much better over an individual house in a metropolitan like Chennai.
It’s important to understand the advantages of living in an apartment, particularly if you are making a decision between an apartment and a house. Some of the benefits of apartments are directly related to its differences with houses. For example, a home owner has complete control of the building because he or she is the owner. For some apartment owners, the ability to live in a building without having to worry about all the details and duties of ownership is an advantage. Here are some other advantages of living in an apartment.
- No repairs. One of the obligations of an owner of a building is to keep the structure in good working order. In a home, that’s one of the many duties of the homeowner. But a tenant doesn’t have to worry when dishwasher breaks or the toilet backs up or the air-conditioning no longer. Finding someone to make the repairs – and then paying for them – is the responsibility of the landlord.
- Amenities. Things like a swimming pool, tennis courts or a fitness room are things that many people would like in their homes, but may not be able to afford. However, it’s easily available in many apartment complexes – particularly larger ones – as the complex owner invests some of the rent money into features that will retain existing tenants and attract new ones.
- The location of a home or apartment is crucial as no one wants to live in a high-crime neighborhood or an area that is far away from work. Location is also one of the factors that most directly affects the price of a building. It’s easier for an apartment complex to afford a desirable location than for a single homeowner.
- Another of the advantages of living in an apartment is the availability of several layers of security. There are gated apartment complexes as well as complexes with security at the entrance to keep an eye on the people who come into and leave the complex. It’s also common to have alarms on individual apartments. Some of these features could be too costly for homeowners.
- Short-term answer. If you are only looking for a place to live for a short period of time – for whatever reason – an apartment is usually the best choice. You can negotiate a lease that fits the amount of time you plan to live in the apartment complex in advance, or you may be able to get a month-to-month lease if you are only looking for an apartment for a few months.
- Because of many of the other advantages of living in an apartment, the cost for rent is usually quite a bit lower than the monthly mortgage cost for a homeowner. It isn’t unusual for people to choose an apartment in order to save money for the down payment to purchase a home.
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