Should I buy a house or an apartment?
This is one of the key questions that come up when it comes to buying a property. What’s better, what’s worse, the pros and cons of both type of properties and eventually the future owners’ own needs and most often than not, their financial capabilities are the ones which would eventually culminate in making the proper decision. And I thought to compile a list of pros and cons for you, in order to make the process of deciding all the faster.
An apartment is perfect for first-timers:
No matter we talk about it as a first home or a first investment an apartment is great if you haven’t bought a home in your life. It’s way easier to get it examined, it’s far more easier to see its pros and cons (location, structure, things to renovate et.) and it’s also much cheaper to renovate and reconstruct when it comes to it. It’s also much more ideal for a first home because with a house come tons of responsibilities those, who haven’t yet owned a house wouldn’t even dream of. And when it comes to long haul thinking, an apartment is much easier to rent out later on and the sum can be used for paying back the loan on a house too so you avoid house repossession.
An apartment is great as a first home for our kids and for those living alone:
If someone is young then the priorities of a home are altogether different too. If we want our kids to start their own life, then there is nothing better than buying them a small apartment for starting up. The costs will not be high and if it has a good location, then it will serve perfectly for many years to come.
When it comes to having a family, then one should think about investing in a house. Let’s be honest: its way more fun to grow up in a house than in an apartment. This is the exact time when the luxuries of having your own garden and living space count a lot.
A house is much easier to reconstruct:
And when the space within a house becomes too small, you can still easily build a room to it ( always check with the local authorities on the possibilities beforehand as laws differ everywhere when it comes to building attachments or simply enlarging your home).
Even if you need to sell house quickly you can still live in it without issues until it gets bought.
If you want to move outside the city, then nothing is more perfect than a house:
As we grow older our priorities do change and many people suddenly find themselves longing for more nature or having an own garden to tend in their free-time. There is nothing better than having a house to make all these dreams come true.
Your house is your castle:
If someone wants a way bigger freedom than they would normally have when living in an apartment, where you need to share lots of space with your neighbours, then having a house is the answer.
I hope this list will help you in making the right decision as to how to invest your money and get the home you always wanted.