When looking for an abode in a city, you have two options to explore in ready-to-move houses. You can either choose to buy an apartment or a builder floor. Make a wise decision, as neither is the same. There are a lot of differences between the two.
Both apartments and builder floors are available to the buyers. There is a considerable demand for both types of residential properties. Big cities and regions such as NCR, Lucknow, Pune, and many other smaller cities also witnessed the increasing demand for residential properties, which, in FY23, had been $42 billion. The number of home sales was at an all-time high in FY23. The residential property market is expected to reach $687.27 billion by 2029.
But before buying your residential property, know the advantages and disadvantages of an apartment and builder floor.
Both apartment and builder floor have their unique advantages for the property buyers. That is why, as a buyer, you should first consider all aspects of these properties. Then, make the buying decision that best suits your requirements. When building your home, do not forget to compare plot vs flat as well.
An apartment or flat is part of a high-rise building, which may also be a housing society. There are multiple flats per floor in such high-rise buildings.
What’s The Better Choice: Apartment vs. Builder Floor?
Advantages of apartments
Apartments come with multiple advantages for home buyers. Here is how they benefit:
Wide range of amenities
One of the major advantages of living in apartments is that you access many amenities. A high-rise building in a housing society has all the amenities for modern living. These include swimming pools, gardens, gyms, and security personnel. The under construction properties including 3 bhk flats in Lucknow and other big cities come with these amenities.
Affordable cost
Apartments are generally affordable since the cost per square foot is much lower than the builder floors. This is because there are many apartments in a high-rise society, and the residents can share the infrastructure cost collectively.
Greater security
Since many apartments are in gated societies, the society management takes strict security and safety measures. Individual apartment owners do not have to worry about the security of their family members as all the security-related infrastructure is managed by either RWA or society management.
RERA compliance
RERA stands for Real Estate Regulation and Development Act. Builders have to ensure that the construction is as per RERA compliance. The law protects homebuyers and promotes transparency in residential property deals. So, when you look for 3 bhk large flats in Lucknow or elsewhere, check that it is RERA compliance.
For home buyers, RERA compliance with a residential property ensures that everything about the apartment follows government rules and norms. That is why the builder has to disclose all the relevant details regarding the apartment and the real estate project to the buyers. The buyers’ payments are deposited into escrow accounts, and the home buyers will be handed the apartments per the approved timeline.
Community Culture
Another big advantage of living in an apartment is becoming a part of community culture. Since hundreds of families live in high-rise society buildings, they all come together to celebrate festivals. That fills the residents with a sense of belonging. You become part of the society. In turn, that gives the residents emotional support.
For all such advantages, you can depend on trustworthy high-rise buildings such as Jashn Elevate Club Towers, including excellent amenities and community culture.
Advantages of builder floors
If apartments are not what you have in mind, then explore builder floors as your next best option. Here is how you benefit from owning a residence on a builder floor.
A builder flat in itself is a whole residential unit. So, there is just one unit on the floor. The buyer independently owns each such unit. Such buildings are usually low-rise. A characteristic of builder floors is that they are much more spacious than apartments.
Here are some key advantages of builder floors:
Easier customization
Builder floors are easier to personalize per the homeowner’s liking. This is because of the flexibility these floors offer. The homeowners can customize their home design as they wish.
Personalizing the layout interior is much easier with builder homes. You can also choose to give the finishing touches the way you want. Moreover, you can easily add architectural elements to the home to make it look impressive and unique. You can also choose the materials and the fixtures for your home. All you need to do is to work with the builder when personalizing your home.
Assured privacy
Unlike high-rise buildings, builder floors are low-rise and only have a few families. Each floor becomes a separate unit with no interference from other families living in other units. Also, each unit has its separate entrance. That means these buildings are more open. You can, therefore, maintain your privacy.
Higher resale value
Another advantage of owning a low-rise builder floor is that it will yield high profits when you resale it after a few years. Since these are individual units, getting very high profit on their resale is much easier than getting an apartment. The new owner can easily customize these units.
Low maintenance costs
The maintenance costs of a builder’s floor are much lower when compared to the apartments. There are no high costs involved in maintaining a high-rise building. The house owner on a low-rise building floor is responsible for maintaining the house. So, the costs are always manageable.
More space
Builder floors are generally more spacious as these are independent units with much larger floor areas than apartments. With such space, the owners can make furniture arrangements per their wishes. Most builder floors boast wide spaces such as balconies, terraces, and even outdoor spaces that belong to the owner only.
Apartment vs. Builder Floor: Which is the best option?
So, after going through the main advantages of both the apartments and builder floors, which one should you buy? The answer is that you must consider your preferences and personal circumstances, such as your budget, when choosing.
Pay attention to the disadvantages of owning an apartment or builder’s floor. For instance, if you opt for builder floor living, you will have no central amenities such as a gym and a pool. You will also be paying more for maintenance as fewer families live in a low-rise building. Some such floors may also lack and need more measures.
Similarly, know about the disadvantages of owning an apartment. You will have limited space, which could be restricted and noisy. The buyer may be paying a high service charge. There might also be restrictions on modifying the building exterior. Parking difficulties and multiple rules and regulations are also hindrances for apartment owners.
Consider the above-mentioned cons of owning an apartment or a builder floor. Then, consider your budget, the freedom you want, and other aspects to judge which option is right for you.
When is the apartment the best choice?
If you love to access many amenities without paying much, then apartments are the best options. All security concerns are also well addressed. Also, apartments are an excellent choice if you love community interaction and a great community life. The residential flats are also favourable if you can bear paying high-maintenance charges.
When is the builder floor the best choice?
You can prefer a builder floor when you value your privacy more since only a few families live in the building. Go for the floor option also when you wish to have spacious rooms that you can customize. If you want to escape from high maintenance charges, the builder floor is ideal.
So, choosing an apartment or a builder’s floor boils down to your priorities.
Make sure you weigh the pros and cons of both apartments and builder floors to settle for the right option.
Wrapping Up
Often, people need help determining whether an apartment or a builder floor is their best option. Both have their advantages and disadvantages for the buyers. Compare their pros and cons extensively, given your budget and other circumstances. Settle for the one that you find best suited to your residential needs.
