Advantages and Disadvantages of Buying an Apartment Building
Friday, April 3, 2020
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Many people prefer a house rather than living in an apartment building, even though there are so many advantages and benefits if you make an apartment as a dream home.
The need for shelter is a primary human need, this need continues to increase along with the increasing population.
But both options have advantages and disadvantages of each and most of one's choices also depend on taste or profit factors from rising prices for apartment purchases that continue to soar.
The difficult situation indeed when you are faced with choosing a dwelling between apartment (vertical dwelling) and housing (horizontal dwelling) because both of them have the potential to become one of the most important assets and investment strategies for you in the next 30 years.
Very complex when we compare which is the best choice. One of the main challenges of owning a rental property is how much money you have.
Maybe the constraints of owning a house, let alone large and elegant, will be troublesome in terms of maintenance - even if you rent out the house to someone else, you will still be the person responsible for fixing any problems or may routinely hire maintenance/repair services.
Apartments and housing have their respective benefits, so to consider this you must be able to adapt it to your situation and lifestyle.
You as a consumer must be keen to see how the quality of life and comfort offered both as well as location, security, and transportation access.
The rate of growth of commercial and strategically located rental properties in industrial estates is indeed quite rapid.
It can be seen that many property developers engaged in the real estate, commercial and industrial markets are competing to develop their area by constructing apartment buildings (vertical dwelling).
To help you make a decision, here are some benefits or advantages of living in an apartment that can be taken into consideration:
Advantages of Buying an Apartment Building
Facilities / Amenities
The apartment offers various facilities for its residents, facilities such as a fitness center, swimming pool, rooftop and secure parking.
Quality lifestyle is one of the important benefits of living in an apartment environment. Living near various facilities will certainly make you more time to do many things.
Compare if you live in a commercial housing complex and want to go to various entertainment venues that are usually located in the city center, of course, you will feel annoying traffic jams.
These facilities may not be available if you buy or rent housing.
Accessibility / Location
One of the best things about apartment complexes is the accessibility to everything you need, such as access to shopping centers, shops, hospitals, transportation, entertainment, and recreation.
Location is an important aspect of an apartment/house, and it influences property prices in general. Because it is in the center of business & entertainment means you are only a few meters away from all possible needs.
Everyone dreams of wanting to live in a luxurious residence in a good environment, free of crime, or at least to find a place close to their work.
The advantage of an apartment is that it has fewer problems in providing the desired location than ordinary homeowners.
This means that by buying the unit, you have bought an excellent location at an affordable price and a fairly reasonable cost in general.
Security
Safety is one of the most important factors to consider. One of the biggest advantages of living in an apartment is the availability of various additional layers of security, usually in the apartment CCTV cameras installed around the entrance.
Besides, there are usually at least two apartments per floor, which means thieves will have difficulty taking large items from your apartment.
Every point will be protected by a gated system because there are officers who are specifically employed to always monitor it and record every person going in and out of the building.
Installing a similar security system in a private home will certainly be much more expensive because the cost is not shared with residents around your environment.
Living in an apartment will make you comfortable traveling or when you arrive home late at night.
Maintenance
The problem of maintaining apartment buildings, in general, will be handled by the developer, the less likely you will be faced with repairs and renovations that will increase your spending budget.
Disadvantages of Buying an Apartment Building
Every advantage has its disadvantages, this is the importance of anticipating early if you are not used to living in vertical housing.
Limited Space
When living in an apartment, you have to make peace with the situation and quickly adapt and accept that that little room you have.
There is no opportunity to imagine the desire to change the interior design of the room and the possibility of expanding the building is also almost impossible.
If you have made a long-term decision to live in an apartment building, from the outset consider these limitations.
Actions, like making your bathroom more spacious or to close your balcony and try to renovate into a kitchen, will rarely be done.
But it could be that your creativity and knowledge of household furniture will be enough to make your apartment more comfortable.
There are so many smart ways to enjoy life in an apartment that you don't need to regret the decision you made.
Troubled Neighbors
There is also another aspect that you need to keep in mind before getting your first apartment, which is that not all of us are very fortunate to live in a friendly apartment community and can socialize with neighbors.
Also, be aware that you might be out of luck if you live next door to some residents who have problems, noise and are not environmentally friendly.
Even when there is someone who likes to interfere with the rights of other tenants and interferes in the private zone, over time you may feel uncomfortable every day.
Therefore, before asking yourself about 'can I buy this apartment', you better find the answer to the question 'can I accept the conditions if I have neighbors like that'?
Parking Problems
If you are a person who always uses a private vehicle for all activities, there are other aspects to consider before deciding to buy an apartment.
Although most apartment complexes have designated parking spaces for their residents, there are also lots of free spaces and do not provide a guarantee that the parking space you use today will always be empty.
Sometimes, an unfriendly neighbor likes to grab your place because he feels closer to the main door or their guests who often block almost every free spot in front of the apartment building.
In the end, you are forced to go around the building just to find an empty parking space for your vehicle.
Lack of Private Outer Space
Living in an apartment can be painful for fans of gardening activities because they may not do it with a condition that does not have a garden or private yard.
However, some property management developers provide facilities to allow you to take care of the garden and plant in the backyard/terrace of the building.
Maybe you can add some additional fees on this matter to your monthly expenditure cash flow.
Restrictions on Several Things
Before you move, study carefully what is allowed or not allowed to do. Sometimes, the real estate developer will specifically ask you not to paint the walls or renovate parts to keep it following the basic conditions of the apartment.
What residents can do may be limited to replacing facilities or equipment such as air conditioners, stoves, furniture, and others.
It means you might not be allowed to personalize your milk room. But that does not mean the above applies to all apartment buildings, all keep returning to the respective policies of real estate developers.
Pet Restrictions
If most residential buildings allow you to keep pets in the house, and there are special rooms that are designed by yourself.
But in the apartment, some property management developers impose strict restrictions on some types of pets (not all types of animals).
Therefore, if you have a pet or will most likely buy it, make sure you live where it's possible.
Don't worry because animals like cats, certain dogs, birds, and some other species are allowed to be raised.
Make the Right Decision to Buy an Apartment Building
Choosing a place to stay that you want to buy in general is always closely related to one's personality. For example, an apartment building might be suitable for some people who are introverted or who like quiet.
Everything is certainly based on needs and does not necessarily only fulfill desires.
Especially about housing, for those who are married / single family certainly can not be arbitrary to determine it. There needs to be an open discussion with the couple about the family's cash flow so that in the future it will not cause chaos.
Living in an apartment building or commercial housing has advantages and disadvantages, it all depends on how you respond and plan.
With limited land conditions like now and housing prices can no longer be reached, living in an apartment building has become the most preferred choice for Millennials.
A shelter is a place where humans grow and develop physically and psychologically because almost all of the time spent in it in the long term.
Therefore, in terms of choosing a residential, be it an apartment building (vertical dwelling) or commercial housing (horizontal dwelling) you have to consider it well to get a good quality of life.
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