Is it worth buying Apartments with Amenities
As populations grow steadily in metros and cities, land prices are sky-rocketing! This makes it very difficult for one to even consider buying his/her own land and built a house with selected amenities. It’s a distant dream for the most. That’s why people turn to high-rises in urban and sub-urban areas when they think of investing in a home.
Apartments- With or without amenities?
An apartment has become the go to option for an average home buyer. A property that is bought as developed by the builder and comes with its own set of fixed amenities and facilities. This is where most buyers are left confused, as to whether a particular apartment is a suitable property for them or not. Amenities are meant to make one’s life more comfortable, convenient and luxurious. There are 2 types of amenities; Basic and premium. Basic ones can be rather called as necessities, as they are meant to fulfill the basic lifestyle needs of today. The premium amenities are really the ones that give you the high-life experience.
Here’s a listoftypical basic and premium amenities that come with most apartments;
a. 24x7 electricity backup
b. Elevator backup
c. Dedicated covered parking
d. Security surveillance
e. Common areas
f. Water storage/backup
b. Swimming pool
c. Club house
d. Sports lawn
e. Banquet hall
f. Air conditioning
Making amenities worth the extra spend
As you can see, the basic ones are really something you can’t compromise on. On the other hand, premium amenities are something you can think about, as they come with an added cost. Properties with premium amenities are bound to cost considerably more than their regular counter parts. It’s all about your choice of living; whether you want a starter home with basic amenities or you want the full luxury-living experience with premium amenities. Premium amenities have no limits and can be even more personalized like in-house swimming pools, jacuzzi etc., as it all depends on the builder, deeming it worthy to build them based on the market demand.
How to decide?
It all boils down to one big question… are you buying to live or to invest? Both are fundamentally different scenarios and would make one consider the amount of money to be invested in each case, very differently. Having amenities in each scenario has its own pros and cons, as the amenitieswill play a different role in each case.
Scenario-1 Investment only
When it comes to buying an apartment just for the sake of investment, it’s more important to focus on the market image of the property as it’s only an asset that needs to appear valuable and attract the best attention.
a. Attract the cream tenants: Having premium amenities effectively attracts high paying tenants. Most tenants today are young professionals or students, who prefer enjoying a full-fledged living experience with all kinds of amenities.
b. Resale value: Properties with premium amenities are easy to resell at high prices and can even retain a good value in case of a recession or a down period.
c. Prime location: Properties with premium amenities are mostly situated at prime locations and come as a part of a larger society. This makes your property a popular landmark in the area and in turn, increases its market value.
a. Income: Premium amenities may incur hefty maintenance charges which can cut into your rental incomes, effectively lowering your profits.
b. Access issues: When other people, like your tenants, use the amenities in the premises, you need to stay updated on their access permits and coordinate with them to make sure that they are not violating any society rules or regulations.
Scenario-2 For Living
When it comes to buying a home to live in, you need to make sure that you and your family are truly going to benefit from the premium amenities. You need to make sure that you are getting your money’s worth as you will be tied to that property for a very long time.
a. Convenience: Having premium amenities in close proximity really pays off in today’s time as you don’t have to buy additional member ships for health clubs and commute long distances just for the sake of recreation.
b. Social gatherings: Amenities like banquet halls or community halls make it very easy to organize social gatherings within society members, fostering a friendly living environment for all.
c. Safety: Properties with premium amenities are built as gated communities. Gated communities provide a safe and secure living experience for families. Also, they are often isolated from the hustle and bustle of the main roads, offering a peaceful environment to live in.
Maintenance hassles: This is the only one con of choosing to invest in properties with premium amenities, in this scenario. Apart from the extra maintenance cost, you’ll have to deal with the repairs and maintenance tasks of various amenities, costing your extra money and time.
These guidelines will help you understand on how to go about choosing amenities for your next property. Apart from basic amenities, one should strategically think about choosing premium amenities and should never compromise on the apartment quality itself, just for the sake of some added amenities.
BramhaCorp is one of the leading builders in Pune that offers modern residential spaces with premium amenities. All BramhaCorp properties come with top-notch facilities that match international housing standards and are situated in the most prime locations of Pune. The Collection at New Kalyani Nagar is one of the latest ventures by BramhaCorp that offers exquisite designer living spaces in the form of two and three bedroom ultra-lux apartments, at some of the most affordable rates in today’s real estate market.
Check out all the amenities of The Collection here: www.bramhacorp.in/the-collection/
You can also check out other BramhaCorp properties using their individual page links listed on their home page; www.bramhacorp.in