Fun Hypothetical situation:
Lets say you've saved enough money over the years to safely purchase a home: A house(or land) or an apartment in an apartment building. You won't be losing any money, you're not spending more than your budget and you're making a safe investment.
You have a secure and consistent income.
You currently live alone.
- That they're in two different areas, but are equally distant from the downtown area of your city.
- Common max apartment space vs common max house space.
- Uses of space(such as living in it yourself, or renting it to families, individuals, students, or multiple people in one space)
- The fiscal investment alone
- The security investment alone
- Both as a package.
- Pros and cons? (add on more if you come up with any)
---Houses usually can be expanded. The common household has four to five rooms. ~300K min
- You have to "build your own gym", possibly join a gym(~250$ a month)
- Parties, kids, pets, loud noises are okay.
---Apartments usually come in a max size of 3 rooms ~250K min
- Usually have pools/gyms/indoor parking lots
-Usually against pets, loud noises, parties, and kids.
-Maintenance fees excluding heat/water(~250 a month)
Which would you decide on and why? You don't have to go into detail, I'm just curious as to what people are more likely to invest in long term.
Keep in mind that you are paying for this property out of hard-earned money, and thus, must consider how it will play a role in your life now and later, and what benefits ownership provides.