Best Tips For Investment in High-Rise Buildings UPN
People in Pakistan are now considering buying a flat in high-rise buildings and now the demand is rapidly increasing. Investment in apartments is affordable and cheaper. A large group of investors prefers to invest in high-rise buildings as these vertical expansions provide the best facilities and accommodate several facilities within a single plot. But one major concern is that which floor of a high-rise building is best to invest in an apartment?
Irrespective of whether you are buying a flat to live or investing to earn a handsome rental income, choosing the right floor is very much important. Investing in the right flat located on the right floor of a building will boost your rental yield and many more benefits.
So let’s discuss the major factors/points to consider while making the investment in a flat of a high-rise building!
Some important considerations while investing in an apartment are:
Ease of Access
Price of the Apartment
Views & Natural light and ventilation
Ease of Access
These days, mostly all of the new residential high-rise buildings are being built with High-Speed Lifts. At the same time, they are offering power backup generators to keep the lifts working. These facilities make it very easy to access the higher floors of the buildings but there are several concerns to consider such as:
- How many high-speed lifts are there in the building?
- How many residents are living in the building?
- Are you or any of your family member is standing in long lines every day?
Most investors prefer to invest in apartments at higher ends but families who are looking for a new home always prefer convenient access.
Price of the Apartment
It is very important to compare the prices of different apartments before making an investment in any high-rise building. The prices of the apartments on the top-floors are reasonable in comparison to others. But flats located on the higher floors generally cost more, especially the penthouses appear the crowning jewel in the newest residential complexes. Summers are really hot and humid in our country so having an apartment on the top floor will also add more electricity bills due to the need for air-conditioning.
Views & Natural Light & Ventilation
Apartment at the Higher Floors = Better Will be the Views
This is an easy formula to get the most scenic views from the windows and balconies of your apartment. But the decision completely depends on the location of the apartment building. Before investing, do look out the windows of the potential apartment and then take the final decision.
If you want natural light flooding in your apartments through the windows and desiring for a light breeze to blow in from the west, consider buying the apartments on the top-most floors of the high-rise buildings.
Generally, renters prefer apartments on the ground or the very first floors of the high-rise buildings. The top reason is convenient access.
Moreover, as high-rise buildings are still a new concept in our country, so only a few families feel comfortable moving into the top-most floors. So if you are looking to buy a flat to earn handsome rental income, do prefer buying in lower or the middle floors of the high-rise buildings.
Choosing the right floor to buy a flat is really a tough decision. But no one wants to invest at the cost of his and his family’s security. Avoid buying in the lowest flats of the building unless the project is really well-monitored and secure. However, if you are satisfied with your decision to tackle the security concerns by adding iron grills on the balconies and the windows of the apartment. Moreover, you can reinforce your wooden windows with a second metallic door.
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Keeping all these points in mind while buying an apartment in a high-rise building will definitely help you to take the right decision. Good Luck!