An apartment is a type of housing unit that is typically part of a larger building or complex and is usually sold/rented out to individuals or families. There are different types of apartments including studio apartments, one bedroom, two bedroom, three bedroom, etc.
One of the major attractions with apartments over other housing types –semi-detched, terraced, or detached, is that apartments, which are also referred to as flats, are typically more affordable to own.
As a first time homeowner, making a choice on the type of property to buy can be a tricky situation. Each property type has its unique features, and benefits over the other.
We’ve made this article to give you 5 reasons why an apartment is perfect as your first home :
- Apartments are More Affordable:
Apartments are often more affordable compared to houses, especially in urban areas where land prices are high. Buying an apartment as your first home allows you to enter the real estate market at a lower price point, making it more financially feasible.
Ace Apartments in Yaba offers one and two bedroom apartments with expansive living space at affordable prices. Learn more about Ace Apartments here.
- Apartments Require Low Maintenace
One of the advantages of apartment living is the reduced maintenance responsibilities. Apartments come with shared expenses such as maintenance fees, which can be more cost-effective than bearing the entire burden of homeownership.
A-Residences, Surulere offers contemporary 3-Bedroom Apartments finished to high standards. Begin your journey with A-apartments here.
- Apartments Support Communal Living
Apartments often offer shared amenities such as gyms, swimming pools, communal spaces, and security features like gated entrances or surveillance systems. These amenities can enhance your lifestyle and provide a sense of community. Living in an apartment complex allows you to connect with neighbors more easily, fostering social interactions and potential friendships.
- Apartments are in Prime Locations:
Apartments are frequently located in central or desirable areas close to business districts, public transportation, shopping centers, and entertainment options. Living in a prime location can also offer long-term benefits in terms of resale value and potential rental income if you decide to move out later.
Ruby 3 Apartments is located in the upscale heart of Lagos –Lekki. This property is situated in Ologolo. A serene fast-growing neighborhood in Lekki. Learn more about Ruby 3 Apartments here.
- Apartments are Easier to Sell:
Apartments can offer more flexibility compared to houses. If you decide to sell your apartment in the long run, it will be easier to sell or rent it out compared to others.
This way, buying an apartment as your first home can serve as a stepping stone for future real estate investments. You can consider it an investment to enable you purchase a larger property or diversify your investment portfolio in future.
Buying a property in a developing area with prospects for growth is a great investment decision. Greencity Estate is located along at Isheri North, a growing area along the Lagos-Ibadan Expressway corridor. Buying this property assures you 100% ROI in a few years. Learn more here.
Looking to buy your dream home with a flexible payment plan? Thinkmint Nigeria connects you with the best properties in the market. Find your next property.