When it comes down to the perfect house… everyone has their own preference! Regardless of the investment, there are families who prefer to live in an apartment and families who prefer to live in a villa. The problem is when they can't come to a conclusion! What about you? Are you also undecided between an apartment and a villa? Have you always dreamt of a house with an outdoor space to have a barbecue with friends, but you still want to live in the city centre? You don’t feel particularly keen on having neighbors upstairs and downstairs, but, at the same time, you don't like the fact that you have to pay for the maintenance of a property on your own? Maybe we can help!
As with everything in life, you should weigh the pros and cons of each housing model, and to do so, you need to know some factors that can help you make your decision:
1. Rental ou purchase
First of all, do you intend to pay a rent or buy a house? The answer to this question is very important to arrive at the ideal type of property for your family. And do you know why? Because, with a few exceptions, buying a house is better than paying for a rent, given that it pays off in the long term. And for that reason there is not a large offer in terms of houses for rent. On the contrary, there are plenty of apartments available for rent and this can be a viable option, if it fits your budget and lifestyle.
2. House price
If you've made the decision to buy a house, the available budget is another factor to take into account, as houses are usually more expensive than apartments. So do the math and see if you can buy the house of your dreams or if it's preferable to opt for an apartment.
3. Life goals
We don't know if you're getting married, if you've already started a family, if you have one or more children or if you're getting retired, but in any case, it's important to assess your life goals before making a decision between an apartment or a villa. Of course, if you have a large family, a spacious home will be more suitable. But if you live alone, an apartment may be the best option. However, the decision also depends on your future goals, including some of them related to profitable real estate investments.
4. Property location
Within a good cost-benefit ratio, it is easier to find apartments in big cities and houses in the suburbs or in rural areas. Therefore it is advisable to decide in advance where you want to live and how long you are willing to spend on the commute home-work .
5. House conditions
Maintenance and other types of works in apartment buildings are of the responsibility of the condominium, and the owners only have to pay their share... but in villas, responsibilities are not distributed! You will have to take care of the necessary works over time.
If you already have an idea about the factors to consider when choosing between an apartment or a villa, but still haven't managed to form an opinion, read on to find out about the main advantages and disadvantages of each housing model.
Advantages of apartments
- Generally lower prices compared to villas;
- Shared and less expensive maintenance;
- Greater security and less conducive to robberies, especially if you choose a higher floor, not to mention condominiums with a doorman or private security systems;
- Access to various services, if you decide to live in a closed condominium with swimming pool, gym, etc.;
- Easier cleaning, since an apartment is usually smaller and it doesn't get as much dust and dirt;
- There is always a neighbor nearby to help in any emergency!
Disadvantages of apartments
- Obligatory condominium payment in order to ensure the maintenance of common spaces in the building, in addition to some works that may be necessary in your apartment;
- Smaller living space;
- Less privacy and more noise compared to a villa;
- Possibility of having to live with problems and disagreements between neighbors;
- Greater difficulty in finding an apartment with an outdoor area, such as a terrace, and also a garage or private parking space;
- Lack of freedom for modifications to the exterior of the house. You will always have to obey the rules of the condominium.
Advantages of villas
- Bigger living area and private outdoor space. Possibility of having a garage, a garden, a barbecue or place for meals, an area for your pets and even a swimming pool;
- There is no obligation to pay condominium fees and works on neighboring houses. What's more, you can carry out your maintenance and remodeling whenever and however you want;
- Autonomy and freedom to build and change the house to your liking and according to your family goals;
- Privacy, tranquility and less noise, as there are no other families living above or below your house;
- Minimization of potential problems with neighbors;
- Possibility of increasing the valuation of the property when selling it, if applicable.
Disadvantages of villas
- Higher purchase (or rental) price compared to an apartment. Also the Municipal Property Tax (IMI) is more expensive, especially if it is a house with large areas;
- Having to invest in security, namely in an alarm system, as a villa is easier to access than an apartment (usually located in a higher floor);
- Large maintenance and remodeling costs, borne solely by your family;
- More thorough cleaning, as a ground floor property gets more dust and dirt, not to mention the fact that it has more rooms.
Apartment or villa? The final decision is yours, but it can be taken with the help of a reputed real estate agency such as Engel & Völkers Portimão!
- Large portfolio of apartments in the Algarve: modern, spacious and within walking distance of the beach!
- Luxury villas with pool and sea view in Portimão, Alvor, Ferragudo, Monchique and Silves;
- Best investment options in real estate to obtain a residence permit under the Golden Visa.