Whenever you check the residential property for sale on S V road, the immediate question that arises in your mind is that, “should I purchase a smart 2 bhk apartment on S V road, smart 1 bhk apartment on S V road, or a row house?
Generally, the well-accepted norm for a house purchase is choosing a property at a breathtaking location. Of course, selecting a better location would give you a better appreciation of your investment. Some people prefer to buy an apartment or others love to invest in independent houses. Generally, in a metro city like Mumbai, property rates are sky-scraping these days. That’s why whenever homebuyers are searching for the residential property for sale on S V road, investing in apartments compels them the most due to their slightly cheaper rates than a row house.
In this blog, we will shed light on some other major differences. It will help you make your buying decision easy and know flat or row house is a better choice for you whenever you are on the hunt for residential property for sale on S V road.
1) Amenities
At the time of purchasing, when you invest in a flat, it comes with some added values such as security, parking space, water system, fire safety, power backup, and so on. On the other hand, in an independent property, you have to spend extra money on setting up all these services. Approximately, you need to spend 2 to 3% of the total property value on all these amenities when you choose to buy a row house. On the contrary, in a flat, the developer provides all these amenities in advance for the first 2 to 3 years. After that, these services are taken over by the RWA.
2) Mortgage
When you decide to take a home loan at the time of buying the property, you will get a home loan easily for a flat than a row house. Lending banks usually make a list of legitimate projects where a buyer can effortlessly get his loan approved. On the flip side, the bank sanctions loans for independent property only after a strict examination of the borrower’s reputation and financial capability.
3) Under-construction Property
For example, you choose to purchase an under-construction property. There are many challenges to this. But, the problems significantly reduce when you invest in a flat. If you decide to buy a plot and then build the house on it then it would be a long, burdensome, and tiring task.
4) Maintenance Cost
Once you have purchased a property then your work does not end here. Once you start living in your own house, the property requires continuous efforts for maintenance, cleanliness, construction, and repair. But, it is observed that the maintenance cost of a row house is more than that required for a flat. It is because, in a flat, the maintenance cost is taken by society’s RWA. Therefore, pooled resources drastically reduce maintenance costs.
Concluding Remarks
Hopefully, the above discussion made you clear in getting the right one for you. Any questions, views, and ideas on the topic are welcome. Let us know in the comment section below what do you prefer? A flat or a row house?
If you are searching for the luxurious residential property for sale on S V road, connect with Chandak Group — www.chandakgroup.com. They are specialized in creating luxurious smart 1and 2 bhk apartments in Mumbai and they are fully committed to nurturing housing and real estate qualities in various locations in Mumbai.
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