While investing in a real estate most people think of buying a single home property. This is so because they are under the false impression that money saving strategies and no money down is available for only single homes. These options are also available when you are investing in apartments. In fact purchasing an apartment is a much safer, smarter and cost effective option .An apartment building is:
- Easier to occupy and more affordable as the property prices are also increasing in comparison to buying a single home property.
- Less time consuming, in terms of build up and occupancy
- Most efficient way to maximize your property. The depreciation on construction reduces the growth rate therefore its value grows with a diminishing rate.
- With the increase in demand of a house and scarcity of land, builders are hiking the price of properties which is highly unaffordable for a majority of people. Apartments look to a more affordable way to live in and are more appealing to buyers.
- Low maintenance because there is always an association to help with any external repairs so that you can concentrate on the interiors
- With just one or two members in a family why own a five room mansion as this option seems more economical
- Apartments are more likely to be built to close proximity of many amenities required in a lifestyle, therefore apartment investors benefit from the appreciating land values even though they do not have direct land holding.
- There are less chances of litigation with modern laws in place.
- Loans are easily available if you are looking at buying an apartment as a lot of banks have tie ups with the builders and money is easily accessible in comparison to a single home property.
- Apartments are ready to generate incomes from the day you get occupancy in terms of rentals. Apartments with high rentals are usually the first step to property investment.
To judge the best investment avenue one should focus on their requirements. If the investor wants to resell the property after a short period then investing in an apartment is a wiser option. It eliminates the depreciation factor .If you are a senior citizen who cannot devote time to maintenance apartments are your way to go .It is beneficial in terms of security ,accessibility and location advantages.