Pros And Cons Of Owning Villas And Apartments In Cochin
The debate between the merits of owning a villa or an apartment as an investment among homeowners is quite common. This is especially true when it comes to the city of Cochin, Kerala because of the wide variety of choices available in both segments from various builders. Besides, there are advantages and disadvantages for both types of properties and the choice between the two depends on your specific requirements. So, if you are a prospective buyer and confused between the two, look no further, the purpose of this article is to evaluate the pros and cons of owning villas and apartments in Cochin.
Pros Of Owning Villas In Cochin
- The biggest advantage of villas in Cochin is that they are spacious relative to the apartments. This is especially useful when there are young children in your family, it gives them space for games and outdoor activities. Moreover, you can build private gardens and other amenities that become restricted in the limited space of apartments.
- When you look at villas as a form of investment, they provide better returns in the long term because of their steeper rise in price.
Cons Of Owning Villas In Cochin
- The big disadvantage of buying a villa is the higher price, this is because you get the land and the property to yourself. Most often, it comes to around 3 to 5 times the price of an apartment in the same area.
- If you are considering renting out the villa, then the tenant pool is limited because villa communities are usually not located within the city limits. Also, the rental price is higher compared to apartments and this makes it difficult to rent out.
Pros Of Owning Apartments In Cochin
- Apartments have higher security because more people are living in proximity compared to villas. So, in the event of issues like danger, accidents, etc., there are higher chances of receiving help from neighbors.
- Usually, apartments are located within the city limits, so it is easy to rent out and most of the tenants prefer apartments over villas for renting.
Cons Of Owning Apartments In Cochin
- Apartments have less privacy compared to villas because of the proximity of neighbors. So, noises or disturbances from the adjacent apartment can be easily heard in yours, and sometimes this can be quite annoying.
- The maintenance cost of apartments is higher compared to villa communities and this is due to the presence of additional amenities like elevators.
So, the choice between owning villas in Cochin or apartments mainly depends on your long-term considerations. We hope that this article was useful to you and will aid you in selecting between the two.