Independent House Vs Flat/Apartment
The factors that come into play while taking a decision to invest in residential realestate is whether to invest in an independent house or a flat. If the real estate is for your very own use the first preference should be given to the location and size. If it is for a rent, you have to look at the view of its potential returns.
Here are some assumptions for you to decide on the sort of property:
Objective of Investment:
The basic issue to be resolved is whether you are buying the property purely as a real estate investment or for yourself. If it is for your own use, it would be better to invest in a house close by. If it is just for investment, you can look at localities perhaps a bit away from the city as the rate will be lower relatively. However, the locality should promise high appreciation in real estate prices.
To ensure high rental value, you need to ensure the property has three bed rooms, car parking space and the modern amenities. Also issues such as quality of construction and interior decoration should take into account. Look at features such as modular kitchen and bathroom fixtures as investments and not costs. Look at quality wall finishes and flooring material.
House or Flat:
A real estate (house) will entail buying an existing house or having one built ideally. It is better to go for existing house as it takes considerable time and effort to considerable time and effort to have one built. House will do better if it is for your own use.
An independent real estate would require security. You need to ensure a tenant is there all the time. A flat on the other hand kept locked up safely, when you don’t have a tenant. It is better to go for longer rent contracts for an independent real estate and short term leases for the apartments.
A flat will comes with amenities such as club house and a large garden area. Also maintenance is easier for you in case of an apartment, where the staff take care of the tenants needs.