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Benefits of living in an apartment

Benefits of living in an apartment

The choice of living in a flat or a home depends on one’s requirements and financial circumstances. Both homes and flats are good for living with certain advantages and disadvantages. Here we discuss the advantages of flats over homes.

Apartments are more affordable

The value of home or flat depends on the value of land on which they are built. Home is generally more expensive than flat as one house is built on one piece of land, whereas many flats are built on single piece of land. Due to land value, flats are cheaper than houses. 3 bedrooms flat to house price ratio is 2:3.

Apartments have more desirable location

Location is the major consideration while buying a home or a flat. Most desired locations are near to the business districts with lot of offices, good transportation links, shopping centers and medical & educational facilities. Generally flats are located closer to city centers whereas homes are away from city centers. Therefore flats have much better locations than houses.

Apartments have Low maintenance costs

When we buy a home or a flat, there are certain hidden costs like repair expenditures. When home or flat gets older, we need the up-gradation. Repair of flat is cheaper as structure is much simple and overall cost of repair is contributed by all flats owners. On the other hand repair cost of home is solely contributed by the home owner.

Apartments offer wide range of amenities

Due to rising population density in urban areas, land is vanishing and home size is shrinking. It is now very expensive to afford a home with lawn, roof garden, tennis court, swimming pool or party room. But these facilities are normally available in the apartment developments. Many flat buildings even provide Mosques, community halls and fitness clubs. Therefore apartments have additive advantage that they offer wide range of facilities.

Apartments have high security

In urban areas crime rate is high and security of residence is of prime concern. Flats have the advantage that they offer high security than independent homes. Security in homes can be provided by the guards, which is much expensive. But apartment buildings have E-TAGS and alarms that offer good security without any additional cost.

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(28) Comments

  1. Ghori

    on   said 

    Panama case in favour of PML will double the property prices in months and if decision is against PML it will crash property prices by 70 percent
    Dha our behria will be dead forever

    Reply
    • ZAHID ALI

      on   said 

      I have different opinion.
      Property price may fall maximum up to 40% gradually. very little chances of 70% fall.
      There is no chance of double the property value if panama case decide in favor of PMLN.

      Reply
      • ZAHID ALI
        Tragedy of Pakistan property market is that its alcoholic of black money
        Things will get much worst before we will have mature property market
        Pakistan property market will take time to mature

        Reply
  2. Jamil khan

    on   said 

    Just imagine what will happen to property prices after crackdown on black money
    Its look like that Panama Case Decision will have huge impact on property prices. Either prices will rise or will crash.

    Reply
    • M Anwar

      on   said 

      dear, I am hearing from few weeks on this blog that crack down will on black money, however, in actual, there is nothing, there is no price down in dha isb

      Reply
  3. muhammad azeem uddin

    on   said 

    sir I have read in express need paper that FBR is planning to issue NTN to all those who have comes in with holding tax.

    if this happen then what your views about the impact on property prices after coming budget 2017-2018

    the state bank also imposed 100% LC cash margin for importing lavish product. it means we are seeing VERY TIGHT POSITION of inflation and we are expecting HUGE TAXES in coming budget. because Pakistan economy us going downward very fastly.

    what is your previous advises regarding property prices after June 2017.

    Reply
    • Muhammad Azeem Uddin
      Government has no money to support next budget 2017-18
      What government can do is just the extra tax
      this will badly effect the property market
      FBR ISSUING NTN
      people hate to pay taxes in Pakistan
      amnesty scheme is trap to bring people to tax net
      this is why property amnesty scheme has failed
      all these taxes will slow down property investments and prices will fall or be stagnant

      crack down on corruption will crash the property prices

      Reply
  4. Mahnoor

    on   said 

    Real estate market
    Amnesty scheme failed like all previous schemes
    Government has ruled out chances to bring down property taxes
    More taxes in budget 2017

    Reply
      • @ Ghar 47

        Would you please advise how is the new installment deal for dha multan. does it have worth to consider. Further despite of slow market why there is price increase in dha bahwalpur and dha gujranwala. whats happening.

        Reply
        • Rajab
          DHA MULTAN AND DHA Gugranwala are long term investments
          dha bahawalpur has price increase due to the launch of DHA Villas bahawalpur
          Lets see what happens once last date 4th MARCH PASSES

          Reply
  5. muhammad azeem uddin

    on   said 

    once I am living in house and at the time of morning when just I have open the gate to take my car out side from home immediately five gun men have entered and hands up me and my three children bigger kids was 8 years.

    they have looted my home and next 10 days I have vacant the home and shift to FLAT.

    really flat is become very piece is mind. NO ISSUE IF SECURITY.

    Reply
    • Muhammad Azeem Uddin
      I have lived mostly in houses. In London I had experience of flats.
      The main door of flat was opened only by E-TAGS or by touching the electric key.
      This was stunning and shocking for me as my first experience.
      Zero crime and high security.

      Security is indeed the biggest advantage of flats.

      Reply

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