Apartments vs. Villas: Which is the Smarter Investment in Pondicherry?
While real estate investment like investing in apartments in Pondicherry may be a prudent move, when it comes to choosing between Villas and apartments, you should consider multiple aspects before making an investment decision. In the first place a villa typically looks opulent surrounded by large open land and offers exclusivity and solitude. On the other hand, an apartment can be cost effective compared to the villa and offer a slew of amenities like parking, gyms, access to community engagement spaces, security and comfort. Typically, villas are scarce and therefore attract better resale value/rental value.
Pros and Cons of villa living
Villas typically offer an opulent and wealthy lifestyle with large living space surrounded by a home garden and lots of fresh air. The entire land on which the villa is situated is exclusive to the owner. Villas offer significantly better privacy for the owners who can practice their hobbies like playing a piano or using the terrace without interference from others. Villa residents can also enjoy the luxury of sprawling spaces to entertain guests or engage in outdoor activities.
Villas also provide exclusive facilities and amenities blending modernism with class and are popular with the affluent class. However, these high end amenities also require proper upkeep to ensure that the owners can enjoy them without the everyday bothers. Villas are also expected to be proximate to several amenities like educational institutions, places of worship, access to public transport, retail spaces etc. Obviously all these would translate to higher investment too.
The cons of villa life
Community living and social interaction are generally minimal or absent in villa life. Modern apartments are well managed with 24 hours power back up, human and digital security, and access control systems which may be absent in villas or will come at a significant cost. Although value appreciation may be better compared to apartments in Pondicherry, selling a pre-owned villa may consume significantly more time than selling a pre-owned apartment.
Pros and cons of apartment living
Generally, apartments are high-rise structures and offer living space in different configurations. Price of apartments will vary depending on whether the client wants a luxury apartment, a budget-friendly apartment or an apartment with minimal amenities. Most apartments in India are occupied by nuclear families. Apartments in Pondicherry are easier to own, rent or resell because of their easier price points.
Apartments are generally more secure with security staff and digital devices. Some apartments may also have access control systems, typically in what have come to be known as gated communities. Many apartments provide shared amenities like swimming pools, fitness centers, and public areas to relax.
Community living and social interaction are better in apartment living and extrovert owners can get involved in many kid-friendly activities, BBQs and similar activities that may be of interest to the larger population in the apartment complex.
However, apartments cannot be customized and many apartments have one or more common walls hindering absolute privacy. Similarly, even when you own an apartment, there are monthly recurring charges for the common facilities which may be a drag for some people.
