Introduction
Being the founder of a real estate consulting firm, I tend to speak to around 25-30 people daily. Quite often the discussion revolves around types of properties available in the Indian market in 2024.
Since buying property consumes a lot of time, energy & money, we should have a detailed understanding of the options available in the market to take a judicious decision.
One wrong decision can greatly impact your finances because the stakes are very high in property buying. Consequently, we shouldn’t leave any stone unturned to bolster our understanding.
Let’s begin.
In this series, we will see unique features of different types of properties and their associated advantages & disadvantages.
Builder Floor
People call it by a different name such as builder property, plotted development, etc.
Basically, it refers to a low-rise building with one unit/flat per floor. Because of this, it is also called independent floors.
Some big builders are also making independent floors in hi-tech townships. But, of course, these units are targeted to the affluent class of buyers who are keen to have township experience of the clubhouse, swimming pool, shopping complex, etc.
You can find builder floors, usually, in heart of the city, the old part of the city, congested spaces, etc
The Prime reason for building a plotted development is a scarcity of land.
In total, it usually has 5-6 units with basic or, no amenities at all. Most of the time, the builder floor has stilt parking.
Multi-Story Apartments
As the city population grows and space is scarce, high-rise (multi-story) apartments have become more and more popular.
They are great for living in and offer all comforts & amenities such as a swimming pool, clubhouse. The community centers, shopping centers, in-house café & restaurant, tennis courts, badminton courts, cricket practice pitches, etc.
Apartments in skyrocketing buildings are also considered a peaceful and safe sanctuary away from the hustle and bustle of city life.
However, the choice of apartment is a concern for many people looking to live in an apartment.
In contrast to traditional folks who still prefer a low-floor apartment, millennials love the city sky and prefer the calming atmosphere of a high-rise apartment.
There are both advantages and disadvantages of living in a multi-story building.
Let’s see below for more information:
Living in a high-rise apartment offers the perfect balance of social and private life. It’s great to share a diverse neighborhood with such a large number of families.
Advantages of a Multi-Story Apartments
Stellar views
Home designing experts said that the higher the apartments, the better the natural light and ventilation will be. People who live in big cities are starved for views of the sky, and living on a high floor will allow them to feel close to breathtaking scenery.
Calm & peaceful living experience
It is possible to live a more peaceful life in a high-rise apartment no matter how busy and loud the city is. A raised apartment floor filters all kinds of noise, creating a peaceful atmosphere that homeowners will cherish for many years to come.
👉 READ MORE: Best Home Buying Guide- 2024
Access to shared amenities
Many apartment buildings provide a variety of shared amenities such as a pool, gym, or tennis court and communal spaces such as barbeque areas, lawns and gardens, and function rooms. Some even offer childcare, a movie theatre, or hold events. Getting these in a row house or a villa is impossible.
Security
While security measures vary by the apartment complex, many have security doors, cameras, keypad-secured entrances, and secure garages.
For added security, more expensive apartments may include a concierge or doorman service.
Disadvantages of a Multi-Story Apartments
Although living in a multi-story building appears attractive to most people, there are some disadvantages to it as well.
Difficulty in dealing with medical issues
You may find it quite challenging to live on an upper floor if you or one of your family members suffer from serious medical conditions such as high blood pressure, acrophobia, arthritis, etc. Especially after a fire drill, you will be exposed to great danger.
Inconvenience in Shifting
If you’re looking to rent a semi-furnished property, finding permanent housing in a towering apartment is ideal, but moving in and out might be a nightmare. Getting all of your belongings to the 20th floor is never easy. It can also be difficult to get anything changed if you are considering modifying the interior arrangement.
Neighbors discomfort with Pets
Regardless of how pet-friendly the building’s policies are, living on the top floor with your four-legged friends can present several challenges. Your neighbors may dread having to share the elevator with you. As a result, you may have to use the stairs every time you take your dog for a walk.
Repair & maintenance issues
Painting the exterior walls, installing air conditioners, repairing the leaking pipelines, and other such routine home maintenance and improvement tasks are difficult in a tall building and raise some safety concerns.
👉 READ MORE: Five unique benefits of buying under-construction flats
Conclusion
The decision to buy a multi-story apartment or a Villa etc is always a tricky task.
While there are some advantages to living on a raised floor, such as luxury, peace, and amazing views, there are also some disadvantages, such as pet issues, the difficulty of repairs and maintenance, and the inconvenience of shifting.
PS: You can explore the following multi-story properties in Lucknow.
Studio Apartments
Before buying a studio apartment, it’s critical to understand the advantages and disadvantages associated with it.
Most of us have heard about 1/ 2/ 3 BHK apartment or a flat. But few have an idea about what are studio apartments?
So, let us first know what is a studio apartment?
The studio apartment is a multi-purpose room (one/single) having a living area, bedroom & kitchen. Studio flats are also known as Room-Kitchen units. Multi-story projects with studio apartments provide various shared amenities such as a pool, gym, or tennis court and communal spaces such as barbeque areas, lawn, garden, etc.
Most single individuals, who come to metros either for work or studies, tend to prefer these units. Besides this, even couples who are looking for an affordable option to 1/ 2 BHK flats opt for studio apartments.
Usually, studio apartment owners rent it out fully furnished units along with TV, fridge, bed (usually foldable), etc. This makes it very easy and comfortable for tenants.
Advantages of a Studio Apartment
- Absolutely pocket/ budget friendly.
- Easy to manage and clean. Because, indeed there is very less space to take care.
- Multi-purpose. You can use it for residential and commercial purpose. Just install sofa-cum bed. At night, expand sofa into bed and enjoy the sound sleep.
Disadvantages of a Studio Apartment
- Space constrains. It will be a challenge, even, if you try to accommodate two people in a studio flat.
- Have guest could be an impossible expectation.
- Socializing can be difficult because of space constrain
Penthouses
Are you from that class of people who are always looking for the best: be it swanky cars, luxury clothes, or expensive jewellery? Not at all interested to settle for second best!
If that is the case, I am sure you even do not want to live in a common villa or an apartment.
You want the best in a class residence for your family. Isn’t?
Penthouses are just for you because it a symbol of luxury & class.
What is a Penthouse?
Penthouse is located on the top floor of a high-rise building with super-luxury features & facilities. Penthouses are usually duplex apartments but, in some cases, it is triplex also.
Some of the features of a penthouse that differs from other types of properties are double-height ceiling in drawing-room, expensive floorings, private elevator, oversized windows, fireplace, garden, private gym, jacuzzi, etc.
Advantages of a Penthouse
- Being on the top floor of the building, penthouse gives best view of the location.
- Best of luxury such as swimming pool, jacuzzi, garden, etc is all part of your private space.
- Penthouses are very spacious and offer ultra-comfortable living to the residents.
- It offers an elite status symbol to owners.
Disadvantages of a Penthouse
- Very expensive. One of the most exorbitantly priced residential option available. Penthouses are not for a middle-class people.
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