The notion of buying a villa or an apartment is somewhat laced with being apprehensive about affordability. Buying a home is no small achievement. A primary residence is usually purchased with lot of prerequisites about it being the ideal home for the buyers. Houses for investment purposes have different criteria. They need to be more generic in layout, flexible enough to modify it into any kind of space a family or individual wants, be in the right location to earn a rental income and should not be too expensive for investing.
We have already compared the benefits of buying a villa over an apartment. However it needs to be reminded that an apartment in the heart of the city is more expensive than a villa in the suburb. Sometimes, a prime location apartment is same cost as a villa in an area that is five minutes away from it. How does one choose the type of housing to buy?
Thanks to the modern strategies of builders and developers, as the market trend shifts to more affordable housing, unit sizes have begun to shrink. This is mainly to ensure that when demand for real estate grows, there is enough housing for all and that paying through mortgage is a lot easier when compared to larger properties.
Monthly rents or EMIs, utility bills, home maintenance costs, gardening costs, pest control costs, cleaning, home insurance, moving costs and other miscellaneous costs – all come down proportionate to the size of the home. Hence it is obvious, that a smaller unit will attract a wider category of investors – both big and small.
Looking at the overall picture, a smaller sized villa is still very attractive for the other amenities that comes with. Whether it is just a yard, a small pool or an outdoor seating area, the sheer independence you have staying within the boundaries of an exclusive space for yourself brings a ton of joy for a young family where kids have ample space to play with.
With just three months away from the Big 5 in Dubai where thousands of industrial professionals and construction companies come together on the 39th edition, a lot of ideas will flow on the various combined needs of housing and construction for Dubai residents comprising of expats from all around the world. Keep an eye out for the quintessential smaller home you desire to own, in the coming days.