House or apartment: find out which is the best option

Have you always dreamed of an outdoor space to have barbecues and family parties, but does the idea of ​​your house being at ground level scare you a little? Do you like the modernity of an apartment more, but hate the idea of ​​so many neighbors? House or apartment: what is your final decision? Find out all about it.

As with everything, each of these options has its strengths and weaknesses, its advantages and disadvantages. Our advice is to do a thoughtful analysis before making a decision.

Weigh all the pros and cons, do the math and think a little long term. Only then will you be able to make a decision you will not regret. Also, if you are thinking of buying, let's face it, we're not talking about a pair of pants. Not that it's a lifelong commitment, but it's a pretty serious decision.

HOUSING: COULD THIS BE THE BEST HYPOTHESIS?
This type of home is the dream of many people. That idea of ​​having a house with a garden, a porch, space outside for the kids to play, the possibility of having one (or more) pets, is immensely appealing.

However, not everything is roses. We went in search of the main characteristics of this type of housing, to help you decide.


Benefits
Combined with the condition of living in a house, there are several advantages that you should consider:

Avoid some potential problems with neighbors;
You are not obliged to pay for condominium and works on neighbors' houses;
It has more space;
Greater flexibility in terms of noise (given that there are no neighbors above and below);
As a rule, it also always has an outdoor space, so you gain freedom to have animals and even a mini vegetable garden;
If so, a house with a garage protects your car more;
Do the works as you can and want.
Disadvantages
There may be a greater need to invest in security (and therefore an added expense) as it is easier to access;
Maintenance and works expenses can become heavy because they are entirely borne by you;
The Municipal Property Tax (IMI) can be much more expensive, especially if it is a house with large areas and quite modern;
The purchase price will also be higher if you are not willing to buy an older house and undertake works (remodeling);
Since the houses are more 'one-story', the natural lighting ends up being more conditioned than in a high-rise apartment that profits a lot from sunlight;
Cleaning is also more demanding in houses, as the amount of dust and dirt that enters is much higher.
EVERYTHING YOU NEED TO KNOW ABOUT APARTMENTS
On the other hand, the apartments also add several positive points. But there are also less good ones. Analyze and think about what you want for yourself.

Benefits

Apartments are generally easier to maintain;
Prices are generally lower than housing, making it possible to buy a more modern and cheaper apartment;
You always have a neighbor 'on hand' to help you in an emergency;
Security is tighter, especially if you live on a higher floor;
In terms of cleanliness, the apartments are easier to maintain, not so much dust and dirt getting in;
Easy access to various services – today there are many condominiums that offer a gym, party room or even swimming pools and their use is already included in the monthly fee.
Disadvantages
You are obliged to pay the condominium fee and repairs for the entire building, not just your home. As a general rule, in all buildings, the condominium payment is made monthly or quarterly;
It is more permeable to problems and disagreements with the neighborhood (and the bigger the building, the greater the probabilities);
Privacy is also less protected as you have neighbors everywhere;
You have to pay extra attention to noise;
It has, from the outset, less usable area;
It is not as easy to modify the exterior of the apartment (if you wish to do so, approval from the condominium will be required);
It is more difficult to find an apartment with an outside area.
WHAT TAXES DO YOU PAY WHEN PURCHASING A VILLA OR APARTMENT?
Choosing to buy a house or apartment involves accounting, particularly tax charges. After knowing the advantages and disadvantages associated with the purchase of a property of each type, it is important that you are also informed about other expenses.

When buying a house (whether a house or an apartment), in addition to the value of the property itself and the money to be taken into account for other types of expenses, it is necessary to calculate the amount to be paid in taxes.

In the case of a residential property, at the time of its acquisition, 2 taxes must be taken into account:

Municipal Tax on Onerous Property Transfers (IMT);
Stamp duty.
How can I know the value of IMT?
In the case of a residential property, the amount of IMT payable depends on the following characteristics of the property:

Location: continent or autonomous regions;
Purpose: permanent own housing or private housing secondary (holiday homes, for example);
Tax base: acquisition value or VPT, if higher;
Rate to be applied, which varies between 1% and 7.5%.
That is, according to the IMT Code, the IMT rate is levied on the greater of these two values: the VPT or the purchase and sale price. When this amount exceeds €92,407, it is divided into two parts:

The 1st part corresponds to the limit of the highest of the steps that it fits, to which the average rate corresponding to that step applies;
The 2nd part is equal to the surplus, to which the marginal rate for the next higher step is applied. Just add the two installments and you get the IMT payable.
How does Stamp Duty work?
Stamp Duty is calculated at the rate of 0.8% (single rate), levied on the same basis calculated for IMT purposes. Like the IMT, this tax is borne by whoever acquires the property, and must be settled and paid at a time prior to the conclusion of the purchase and sale agreement.

If you still have doubts about fees when buying a house or villa, you can consult Article 112 of the IMI Code.


HOUSING OR APARTMENT: OTHER FACTORS TO CONSIDER WHEN CHOOSING
The truth is that to be able to choose between a house or apartment, it is necessary that you analyze very well all the advantages and disadvantages associated with each one of them and then, still consider your personal situation and life goals. Check out some factors to take into account.

1 House price and budget available
This item is very important when choosing between a house or an apartment. Establish the maximum budget available, whether to rent or to buy, and see if you can afford the house you want or if it will be better to find an apartment more to your liking.

2 Family goals
What are your medium and long-term goals (at least for now)? Marry? Build a family? Host more than one pet? If you were 'born' to contribute to the birth rate, perhaps housing is better; if you're the single type who doesn't want a life commitment, a more modern apartment might be your thing.

3 Rent or buy
Keep your business objective in mind. Do you intend to buy or lease? Generally, housing is more expensive to buy and there is not much on offer for rent; on the other hand, apartments can be more interesting to rent, in addition to being easier to ‘change’ afterwards.

4 Is willing to do works

When deciding on a house or apartment, you should also consider opening it for works. Who buys a house, buys a lifetime pass for works and arrangements. And it is good that you are aware of this issue!

In the case of apartments, maintenance also takes place, but as there is a condominium company dealing with the matter, it becomes a topic that you practically don't have to worry about, just pay your share.

Now that you have a series of ingredients to weigh, process, ponder and analyze, put everything in the balance, check what is most in your favor and then decide if you are going to choose the house or apartment you have always dreamed of.

Source: e-konomista.pt