The choice between houses and apartments for millennials

Dear Millennials, now is the time to start thinking about saving and investing. If the condition of your financial income starts to be steady and stable, try thinking about having your own place to live. Generally, there are two types of property that can be purchased by a person, namely the house and vertical houses such as apartments, flats or condominiums. On the other hand, you might also want to check out the recommended Mayfair Modern showflat.

Of course, there are a number of differences between houses and apartments that can increase or even reduce the attractiveness of prospective buyers. Moreover, if you plan to buy property to be used as an investment.

House

In general, houses are easier to resell than apartments, easier to be used as collateral for loans at banks and can be rented at high prices.

Meanwhile, house building can experience price shrinkage of up to 10 percent per year. To minimize this, the owner needs to carry out renovations so that the selling price of the house rises again.

Homeowners can be relieved to get two ownership, namely ownership of buildings and land in the form of certificates. Therefore, the owner can renovate the house as desired.

Apartment

The apartment certainly has more complete facilities. You can find apartments that already have a swimming pool or fitness center. But for funds, the rental price of one apartment unit is usually higher than the price of renting one unit of the same size.

Just like staying at home, when deciding to live in an apartment, you must be prepared to spend more money to pay for electricity and maintenance costs which are usually higher than the additional costs when staying at home.

The value of the apartment as collateral for credit is also lower than the house. The owner does not obtain building use rights because the apartment unit does not stand directly on the ground. You are also limited in carrying out unit renovations. Usually only allowed to change the interior of the room.

If you are in the same location, the price of an apartment can be cheaper than a house because the apartment unit is smaller.

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