Investing in a High-rise Building
Published on: 18 Oct 2024
What is a high-rise building?
A high-rise building is a tall multi-storey building which is usually 13 floors or has more than 13 floors. High-rise buildings came into being when the population grew and cities became congested giving rise to the idea of high-rise buildings. Apartments in the high-rise building are considered more peaceful and safe and away from the hustle and bustle of the city. Gives a perfect balance between private and social life. Living in a high-rise building has its own pros and cons Should you be investing in a high-rise building or not?
Advantages of Investing in high- rise building
The view:
If you love the city views, go for a high-rise building, if you are investing in a high-rise building and you have a special spot in your heart for the city view, always get an apartment on the top floors where you can get the best view possible
Peaceful:
The high-rise buildings are mostly peaceful because of the height, the best way to get a city experience in a peaceful way is by investing in a high-rise building. You can stay away from the hustle and bustle of the city and at the same time live in the city and experience city life.
Safety:
One more aspect of investing in a high-rise building is the safety and security you get. Due to its height, it is very difficult to break in so it is safe, the security you will get since it is a high-rise building where many people dwell so there are going to be security guards and CCTVs to keep the security tight.
Amenities:
A high-rise building has almost all the amenities because there are many people who are going to stay in a building collectively so it is better to make sure that all amenities are considered. Amenities like fitness centre, green space, rooftop deck, swimming pool, clubhouses, basketball court, and children’s play area. Most amenities are situated on the floor level so it is easier to access.
Privacy:
You get the privacy you want, the privacy factor also depends on the floor you are living on but mostly you will get the privacy you want if you are living on floors which are not closer to the ground.
Natural light and Ventilation:
A great factor of living in a high-rise building is you get natural light and ventilation you just have to open the windows but again it depends on which floor you live on
Great rental returns:
High-rise buildings command great rental returns, it also depends on the floor but all over if you are buying an apartment for renting it out then it is a great investment.
Disadvantages of investing in a high-rise building
Population Density:
One of the major disadvantages is population density. High-rise buildings have a lot of people living in one building. So, it could be a problem in case of an emergency or building evacuation. Sometimes this could cause an issue if the amenities provided are limited but the population living in a particular area is greater.
Medical concerns:
It might be difficult for an individual dealing with a serious health problem to live in a high-rise building. For people dealing with high blood pressure, arthritis, acrophobia etc. for them it would be difficult to live on the top floors of the building. Also in case of an emergency for instance in case of a fire when it won’t be possible to use the elevator, it would get difficult for the patients to run downstairs immediately.
Pet issues:
No matter how pet-friendly the apartments are few issues can arise in a high-rise building when it comes to pets. For instance, some neighbours won’t be very pet friendly so it could get difficult for you and your four-legged friends.
Difficulty in maintenance:
Be it installing air conditioning or repairing walls, in a high-rise building it would require safety measures. Also, the basic maintenance work which would cost very little normally could increase.
Neighbours:
If you are not very social or outgoing, but your neighbours are then it could be a problem. Also, if you love your peace and your neighbours turn out to be noisy that could disrupt your peace.
Tips for investing in a high-rise building
There are a few documents which a developer should have in order to develop a high-rise building, few of these documents are approved site plans, drawings, and certificates for traffic clearance, occupancy and completion and many more. Make sure the developer has all the approvals.
Building’s structural stability certificate is a very important certificate to make sure that the building is safe to live in and has an earthquake-resistant structural design.
Always make sure that the building provides the amenities promised by the developer because the basic amenities are important like water and electricity.
Ensure that the building has proper provisions for emergencies like emergency evacuation and fire outbreaks.
Choosing a perfect floor for yourself in a high-rise building is crucial, Top floors - Top floors ensure privacy and security, better ventilation, view and lighting. Top floors show faster capital appreciation, though these apartments cost more and have high energy costs too. Middle floors -Middle floors are the safest bet of all times, in case of emergencies they can use the staircase easily. Natural light and ventilation are available. Ground floors- Limited access to natural light. Due to its accessibility, it is prone to pests. Before investing in a ground floor look out for issues related to sanitation.
We have looked at the advantages and disadvantages of investing in a high-rise building and a few tips if you decide to invest in a high-rise building. It completely depends on the purpose of your investment, your family and your needs.
For more such blogs, keep reading Estatemint blogs. Home is where happiness is!
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