What Are The Advantages Of Purchasing Flats Over Building Your Own Home?

The happiness of becoming a homeowner cannot be overemphasized. Especially as Indians, we always desire to buy a home of our dreams. Buying land and building your own home in India can be very difficult. The cost of building, the location, and the availability of land are some factors that make building your own home difficult. Therefore, people now think about purchasing a flat as they offer extra convenience and better value for money.

Below are some of the advantages of buying a property over a private home.

Advantages Of Buying Flats Over Building Your Own Homes

Even though owners have autonomy while building their home, over the layout, cost usage, and consistency of the material used, purchasing a flat comes with its own set of perks. Below are some of the advantages of purchasing a flat:

• Value-Added Amenities
• Cost Of Buying
• Better Flexibility
• Safety And Privacy
• Easy To Finance
• Lower Maintenance

Value-Added Amenities

In an independent house, you have to manage all the facilities on your own which will cost you time, more maintenance costs, and utter inconvenience. Flats on the other hand are maintained by a designated maintenance team and come with great added services like electricity backup, security, housekeeping and a 24×7 water supply. What’s more, due to multiple owners, the cost of these services is also less and the convenience it offers can’t be denied.

Cost Of Buying

Purchasing a flat in India is fairly simple because all the legal formalities are handled by the contractor. Building an independent home is by far costlier than purchasing a flat. The demand will rise in the case of home loans which includes stamp duties, price of the parcel, cost of connecting power, clearance demand by various land authorities, architect fees, cost of raw material, and cost of labor which varies with location, etc.

Better Flexibility

An independent home offers more flexibility than a purchased flat. You need to seek opinions from higher authorities before doing anything in the flat but when you buy a home, you have the full right and freedom to do whatever pleases you. This is one of the advantages of buying a property.

Safety And Privacy

24.7 safety is assured when you are purchasing a flat. It is one of the extras that come with purchasing a flat. An independent home has no such thing; rather you can choose to hire security men to guard the place. All on your own decision.

Easy To Finance

It is much easier to get a loan from any bank as you purchased a flat because the builder had the tie-ups ready with the banks and this will make the processing time very less. This is something that stands out in the flat vs independent home contest.

In an independent home, the reverse is the case. The bank will check his/her lending and borrowing capacity which will make the process frustrating.

Lower Maintenance

The cost of maintaining a flat is less than that of an independent home. Everything is made available immediately after you paid for the flat but for independent homes you need to handle any maintenance that comes up either daily, weekly, monthly, or yearly.

Conclusion

For so many reasons purchasing a flat is a good, modern-day decision. It has a contemporary look, better protection, in-house maintenance facilities, and better customization. For investment and renting purposes flats are a reasonable option, they are on par with building your own home.

Purchasing a flat and building your own home is a matter of choice. It is best advised that you do good research before investing in any of the properties. Construction companies like KGK Realty provide you with attractive offers and value-for-money investment options.