Are you in a dilemma in considering whether to purchase an independent home or a row villa? Either of which makes for an ideal investment in Goa due to the number of long-term benefits associated with it. If the location is ideal it will also fetch a regular monthly income through rent. Whether you choose to opt for an independent home or a row villa you are certain to create an asset that will gain financial appreciation over time.
A row house as the term suggests is a sequence of dwellings that share common exterior walls along with a compound wall gating it. These properties are generally developed in a row sequence and are usually a minimum of 3-4 units clubbed together each has its own designated front and rear exits. The units at the far corners on each side of the development are usually larger in area and are sometimes priced slightly higher in comparison to the unit in-between. Row houses have attracted a myriad of investments over the year as these layouts are known to strike the right balance in terms of affordability and convenience not forgetting the status and prestige quotient they bring along with it.
Independent houses have a unique charm to them as the purchaser of the house also becomes the purchaser of the land from the seller. Old houses, Portuguese dwellings in particular are very popular and have always been in demand. Restoration and then house flipping for a high rate of return have yielded many investors positive returns. Portuguese homes are generally over 100 years old and the architectural features are highly desired. Vintage structures do require a budget to be set aside for restoration and modification, however, if managed properly, these can be listed on the market as premium rental assets, something that has attracted vacationers to rent them from near and far.
Investing in a row house has plenty of benefits associated with it;
Lower cost of construction: Due to the structural layout of row houses these dwellings share several common walls with the other attached units allowing for the developer to lower the cost of construction. Along with the costs of construction, the land that the project is built on is also better utilized allowing savings in FAR and in planning. These benefits then translate into the listing prices of these properties that result in savings for the developer as well as the purchaser.
Community Living: Depending on the layout of the project homeowners are also provided with all modern amenities that usually comes bundled with purchasing an apartment in a heavily populated building. Some of the common features include swimming pools, CCTV cameras, security guards, clubhouses, and open spaces. Unlike high-rise apartments, there will be a lesser population to utilize these facilities without the crowds and noise.
Value for Money: The investment stretches your rupee to the maximum as it gives you the feeling of an independent house coupled with the convenience of an apartment. Lowered cost of construction and the efficient use of land gives room to the developer to reduce the cost of construction translating into lucrative selling prices. The costs of purchase are lower in comparison to an independent project in the same locality.
Lower Maintenance Cost: When compared to detached units, row houses are a whole lot cheaper to maintain as maintenance costs are factored amongst other owners in the community as well. Common area lighting, landscaping, swimming pool, and general up-keep is an expense that adds up quickly when you have no one to share it with.
Caters to a large number of investors: Row houses are a win-win given that they come with excellent amenities and a price point that is marginally lower than other property types in this segment. This makes row houses an ideal investment as a second home whether you are a nuclear family, have pets, or even are a mature couple. For many, it is the peace, quiet, comfort, and the do-away from crowded spaces that make it an attractive investment.
Independent houses have a charm to them like to no other and here is why;
Full Ownership & Title: One of the biggest advantages of owning an independent residential unit is the clear title of full ownership that comes along with it. The purchaser becomes the sole owner of the land and the dwelling that rests on the land that has a multitude of benefits. This makes it the investment future proof as the independent residential unit can be converted into a high-structure giving you full control over the planning and development.
Privacy like none other: One of the most important facets of modern living is the privacy associated with it. No one would opt for a weekend getaway residence in which they cant let their guard down or simply be themselves. Independent houses are very private spaces that are intended to separate oneself from the crowds, noise, and clutter of everyday life.
Freedom of space: There is no better freedom than owning an adobe in which you can choose to do what your heart desires. The space can be converted into an extension of yourself; colors of your choice, lighting as you please, a garden that you always desired, a barbeque grill area, the possibilities being endless. The feeling of bliss without having to worry about neighbors and the surroundings is priceless.
Elbow Room For External Modifications: Since you are the independent owner of the land you have the freedom to explore. An outhouse you always wanted, a swimming pool area, a garden that your loved ones always desired is all in the taking. Creating a space without any limitations is what draws many investors to invest in a stand-alone development or project.
The perks of either owning a row house or an independent bungalow are very obvious. Historically investments in either of these properties have always been lucrative yielding positive ROI’s. Both these property types also make excellent holiday homes that can be rented out to holiday-goers on a daily and weekly basis as a bed-and-breakfast listing.