Pros and Cons of Living in a house vs Apartments
If you do not have a good income source or you are thinking
about shifting locations, it might be a dilemma for you whether you will live
in a house or an apartment. Living in a house has its own pros and cons while
apartment also has some pros and some cons.
All you need to do is to visualize what pros would interest
you a lot and what cons won’t make you bother. This thinking process will
influence your decision of living in a house vs apartment.
Pros of Living in a house
Plenty of Outdoor space
In a house, you will have plenty of outdoor space and the
space will be personal. This is not the case in apartments because apartments
are designed in a modular concept where you will have just enough space for
your personal matters and common shared space for outdoor activities. If you
want some privacy and no disturbance in your outdoor space, then you should go
for buying or mortgaging a house.
Parking Space
As like outdoor space, you will also have your personalized
parking space in your apartment. This is not the case in an apartment. During
festivals, you will need more parking space and you will still have enough
parking space for hosting if you own a house. But this is not the case in apartments
because apartments are built with limited extra parking space for temporary
tenants during festivals.
Flexibility
Living in a house will make you more flexible because you
can add your own decorations even in your outdoor space, make necessary
additions or removal like front yards and backyards according to your
personalized needs.
Privacy
If you are living in a housing or your own house, you will
have more privacy than living in apartments. You will have ease hosting guests
and you can chill without talking to others in your own space. If you are
noisy, you can make enough noise without receiving shout back from your
neighbor.
Long term investment
Investing in your own house will become a long term investment because you also own the land where your home is and land prices might go up, though the house will get old and require demolishment after some 30 or 40 years. In apartments, you will not have this facility and can’t be counted as a long term investment.
Further investment for sustainability
If you own a house, you might have further options for
sustainability which can include reducing electricity bills. You have an option
to install solar lighting to reduce your electricity bill. You could also have
your own bore for drinking water if the groundwater is potable. This will not be possible in an apartment.
Cons of Living in a house
Higher Cost
Buying a house is more expensive than buying an apartment because you have to buy the land too.
The pros of buying a house comes at a cost of higher expense. You must have a
big and consistent income source to afford an independent house.
Fear of Isolation
A house is a private place to live in. But if you are a
person who loves community, you might feel isolated living in your own home
with no one to talk to. If the house lies in suburban area, you might face this
problem way too much because houses are less dense in suburbs.
Fear of Robbery
When you have a big house, you will have isolated space and
it will be easier for robbers to loot your house. You will have little option
of having a guard because it will cost you more money. You might have to
purchase insurance against robbery and this will again add to your bills.
High Cost of Maintenance
In a house, there are many things for maintenance- some of
which are optional but most of the things are compulsory with passing time. For
example, you might have to change the bathroom fixtures after several years,
repair the roof after several years. Repairing a roof does cost a lot of money.
This is not the case with apartments because things to maintain and cost of
maintenance are very limited.
High cost of Insurance
You might have to do insurance of your house for various purposes. Insurance against robbery, insurance against fire, insurance against earthquakes are the common reason of doing insurance. The cost of insurance for a house is always more than the cost of insurance for an apartment.