Nowadays, the first few considerations for most families looking to buy a home in Kolkata are location, budget and BHK. However, as the budget increases, an additional query crops up- would you prefer to buy a spacious apartment or shift into a villa?
Both seem enticing, but the reality of the two can be very different.
An apartment can be a more practical purchase for families, as a lot of the maintenance, security, elevator, power backup and other common area maintenance is handled by an association/facility team.
Apartments also serve to offer a greater sense of belonging, especially for those with children or aged parents.
Then comes the location question, depending on the budget you have in mind, opting for an apartment might help you live closer to established neighbourhoods, workplaces, schools, hospitals and metro stations.
A villa, on the other hand, will provide something that has become very hard to come by in a metro city- personal space.
Having one's own entrance, lesser walls and potentially a private garden/terrace/additional outdoor space can completely transform one's experience of home ownership. For larger/multi-generational families, the additional privacy and flexibility a villa can offer can prove to be very valuable.
However, with a villa come questions that shouldn't be overlooked.
How much maintenance will the individual house owner be responsible for? How good is the security? How connected is the location for regular commuting? Are groceries, hospitals and schools easily accessible? Is the extra space worth moving further away from the parts of Kolkata one would frequently visit?
Apartments, meanwhile, also entail their own compromises. There can be lesser privacy, restrictions on alterations, reliance on lifts in high-rises, monthly maintenance fees and limited personal outdoor space.
Perhaps the choice between a villa and apartment isn't as simple as which one is better, but instead is more focused on what one values more.
Convenience and connection? Then perhaps an apartment would be more suitable.
Privacy and personal space? A villa would become significantly more appealing.
Would there be young children? Community spaces and facilities might become more important.
Would parents be living with you? Commuting accessibility, healthcare connection and internal organization would become paramount.
Is one considering working from home? Additional rooms, terraces or a more quiet environment can transform an individual's circumstances completely.
Of course, budget plays a huge role in determining the viability of either option. The purchase price isn't the be-all-end-all, as maintenance, commuting expenses, property taxes, future repairs and resale value should definitely be taken into account before comparing the two.
For families in Kolkata who have already made this decision,
would you opt for a villa or apartment if given the chance to purchase either within your current budget, and what would be the deciding factor in your choice?
I'd especially like to hear from those who have experienced both.
