When you buy a house, you look for happiness, comfort, prosperity, beauty, success, respect and many other qualities in a single home. It is quite difficult to get all these facilities at a single site. But you should definitely go through the location, surroundings, environment, accessibility, etc to find the most suitable residential property be it an apartment, a bungalow or an independent house.
Residential properties can be bought or built in a large variety of configurations. The basic division of residential dwellings is between detached ( free-standing) dwellings and various types of attached dwellings. The detached homes vary vastly in scale and amount of accommodation provided. In the same way, multi-unit housing or attached home also varies in scale and levels of appointment. Though a variety of types exist with different names yet a lot of them differ only in terms of style rather than spatial arrangement and scale.
Before Buying a Home Prior to the investment in a home, a person should think carefully upon certain points. Home investment is a life time investment and once done it serves your several generations. Also it requires handsome amount so it is wise to examine before investing in a home. Every person must follow certain guidelines before making any such decisions.
- Size of Family: The size of your family plays an important role in deciding the type of house you buy. If you are living in a joint family then a separate house, like bungalow, row house, farmhouse, independent house would be a better option. If you have a small family then properties, like apartments, builder floor, etc will suit you.
- Age of Family Members: The ages of different family members should be kept in mind before making any decisions. If your parents or grandparents are living with you then in that case a residential bungalow would be the best choice because they are single-storey and best for the people with reduced mobility.
- Residential Bungalows
- Holiday Bungalows
- Independent Houses/ Villas
- Farm Houses
- Residential Row Houses
- Your Budget: Buying a residential property mainly depend on the budget of a person. If you don't want to spend a lot then a simple apartment would be better for you. If you want big properties and that too at a low price then a farmhouse at the outskirts of city would be the best choice. Penthouses, Holiday bungalows, etc are specially made for the higher class, which are capable of spending a handsome money.
- Tax Planning: One residential property for one person is totally exempted from wealth tax without any limit. So in view of tax planning, you must ensure that you own a single residential house. If you are planning to buy several residential properties then you should buy them on the name of your family members which don't own any property.