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What is Residential Apartments?
A Residential apartment or a flat is a self-contained housing unit (a type of residential real estate) that occupies only part of a building, correctly, on a single level without a stair. Such a building may be called an apartment building, apartment complex, and flat complex, block of flats, tower block, and high-rise or, occasionally mansion block, especially if it consists of many apartments for rent.
Types of Residential Apartments
- Builder Floors
Builder floor apartments are primarily constructed by the builders which consist of not more than four floors, including the ground floor. The number of flats differs according to the builder’s plan. These type of apartments have less number of floors as compared to multistorey apartments.
These apartments consist of more than five floors with a common area and other amenities for the residents. It has multiple residential units in each floor with all the facilities required for living. Since it has more than 5 floors, lift facility is mandatory in such buildings to access easily other floors.
Studio apartments are those which has a fixed number of rooms regardless of the number of floors in a building. These apartments consist of a living area, kitchen, and bedroom. It is mostly preferred by bachelors or people looking for a budget house because they save space and cost. Studios can be found in a builder floor or in the multistorey complex as well.
- Row Houses
Series of houses following the same architectural layout and design which are located adjacent to each other is known as row houses. These houses share a common wall and are very different from villas.
This is one of the most luxurious types of apartments. Villa is an individual house with almost all types of facilities available within the gated community. It is also surrounded with a beautiful gardens, lawns and a swimming pool.
- Gated Communities
By keeping the safety in mind, gated communities consists of multistorey apartments, villas and row houses with limited access, strict security and situated inside a closed perimeter of fences and compound walls. All the facilities such as supermarket, gym, playground, restaurants, etc. are offered only to the residents.
- Integrated Township
In an integrated township, all civic amenities such as roads, water, electricity, school, healthcare units, garbage disposals, parks, recreational centre, etc. within a gated community. These are residential complexes constructed either by the government or by private realtors and usually situated within suburbs.
Benefits of Residential Apartments
The number one benefit of living in an apartment is the financial aspect of renting. Rent is generally cheaper than a mortgage. In addition to an overall lower monthly payment, other financial components such as upkeep and utilities are generally lower because of the smaller space and the overall responsibility of a landlord/owner versus a tenant.
As discussed in the financial benefits, maintenance expenses are generally lower due to responsibility generally falling on landlord/owner. Not only is the lack of maintenance worries a financial blessing, but it’s also a check off the “Things to Do” list. When it snows, no need to shovel, when the lawn looks a little rugged, it’s not your concern – Ovation Las Vegas Apartments will take care of that. The peace of mind associated with the mental freedom of renting is priceless.
Unlike houses, apartment complexes are generally built with specific amenities such as pools, gyms, convenience stores and laundry facilities directly on the premises or at the least in very close proximity. Although you could always have these elements built into your home, the financial obligation is not as rewarding. Apartment living can prove to be a very convenient living arrangement.
Although homeowners often invest in some form of home security system or another, apartment complexes also invest in the overall safety of its residents. The close proximity of neighbours (in contrast to being the only one in a house at any given moment) and typical apartment complex safety measures prove that multi-unit dwellings are the safest locations for single women, children, families and the elderly.
Apartment proportions are, simply put, convenient. A newly graduated college student is generally looking for a place to call home; a living room, bedroom, bathroom and maybe a kitchen for show. This space does not have to be large and lavish, it just needs to feel safe and quaint (even for the guys). This same basic need is apparent in most people, college kids, single women, bachelors and even friends who chose to live as roommates.
Other great benefits of apartment living are the social implications of the close proximity and connections one develops during their residency. Although a sense of community exists in both rural and suburban areas, the close proximity of apartment life enhances the probability of creating lifelong connections.
Parallel to buying a home, apartment rentals make great short-term options. Deciding to buy a home is a lifelong dream but you have to live somewhere while you prepare to make that dream come true. Whether you are working on credit, saving money or mentally preparing for the responsibility of owning a home, an apartment is the best interim option.
The financial benefits discussed here are gateways to our future. While we endure less burden and responsibility while renting, this is the opportune time to invest into your future. By placing the money saved into a “rainy day” account, this can be the beginning of a brighter financial outlook.
- Lower Responsibility
So far we have discussed money savings from rent, lack of need to maintain the property and, well, that’s it. The lack of need to maintain property is not only a financial windfall but also a stress reliever. Homeownership comes with a lot of headaches and issues and deciding to rent will help you avoid these types of setbacks. Instead of using the “rainy day” fund to fix the boiler, it can be used for a much-needed vacation to a tropical island.
One of the best things about an apartment complex is the close proximity of anything you need. Shopping center locations are typically chosen by the overall demographic of a community. The greater the chance for possible patrons, the larger the need for the shopping center. This little titbit of information is useful. No matter what you need, there is a shopping center nearby to suit you.