Features Of Residential Apartments

Residential apartments are one of the most popular forms of home ownership

. These apartments include flats, condominiums (condos) and builder floors. Residential apartments carry many distinct advantages over houses. There is a sense of community feel in an apartment complex. Many exclusive facilities like tennis courts, swimming pool and gymnasium are easily available in apartments. Moreover, you need not worry about its timely maintenance or other repairs.

While searching a residential apartment, one should consider certain parameters. You should select that apartment, which gels in well with your lifestyle. For instance, number of family members, proximity to local amenities, scope of leisure activities and local terrain are some of the important features. You can search suitable flat options from real estate publications, newspapers, online listings and real estate offices. Many real estate websites offer instant notification of the latest properties as per your requirement. In case you get a residential flat of your choice, it is advisable to crosscheck the sales statistics of similar flats in the area.

There is a wide variety of residential properties from the point of view of investment. These include single-family rental buildings, apartment buildings, small multiple-unit residential rental and low-income housing. Houses are the best options for investors. Houses serve as the easiest route to real estate. They are the ultimate equity building tools. Houses can be used later for builder-homes. The prices of apartment buildings, on the contrary, are based on income. However, apartments often carry bulk down payment. Apart from these two, duplexes and triplexes are some of the multi-unit residential properties.

Another form of residential property includes condominium. It is almost like an apartment, but the ownership differs in both cases. Technically, a condominium is a collection of individual home units. The common areas or facilities like hallways, heating system, elevators and gardens fall under joint ownership. In this way, the difference between an apartments and condos is entirely legal. The same building that serves as a condominium at a place can function as an apartment somewhere else. In other words, a condo is a apartment which the individual owns as opposed to rents.

There are thus multiple ways of buying or investing in residential apartments. Ranging from flats to builder floors, one can select the best as per his requirements. The essential features, which make a difference in this selection, are the priority assets of one place over the other. For instance, better amenities, good locality, and vicinity to airport and security services.

by: Aditi

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