Things to know before buying a home in a high-rise

[ecis2016.org] When it comes to a high-rise building, should a buyer opt for a house on the upper floors or lower floors? We examine the advantages and disadvantages of both choices, to help buyers arrive at a decision

High-rises are currently the most popular option for working professionals in cities. Apart from being the most prevalent type of construction in cities, as it allows a large number of people to reside close to city centres, high-rises can also offer beautiful views of the city’s skyline. Moreover, the incidence of pests, such as mosquitos, house flies, ants, etc., is also lower on higher floors of a building.

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Unlike lower floors, units in the upper floors enjoy higher levels or privacy, as they are located away from the common areas in the housing project. Thus, the noise level in such homes is much lower than in units nearer to the ground, which are close to the main street. If you are planning to buy a house in a high-rise, there are several factors that you should consider.

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Exposure to the elements of nature

A house on the upper floor would get more sunlight and have greater ventilation. However, this excessive sunlight will make the home much hotter in summers and the cold breeze will make it colder in winters. Greater exposure to the rains also makes your unit more susceptible to internal damages and seepage during monsoon, if due care is not taken to protect the house.

Higher use of electricity

A house that is hot in the summer and cold in winter would require your air-conditioning and heating systems to run more frequently, when compared to units towards the lower floors in the same housing society. Consequently, your electricity bill would be much higher than your neighbours at the ground or first floor.

Ease of access

Someone on the ground floor or the first floor need not wait for the elevator and can walk right in. This is not true of someone who lives, say, on the 10th floor. To access a house on the higher floors, one has to spend more time and energy. It could also be a great problem in case of power outages, which are quite common in several Indian cities.

Resale value

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As compared to homes towards the lower floors, homes at the upper floor will not attract the same value. Homes on higher floors may be favoured only by young buyers, for whom taking the stairs may not be a problem, in case of a power cut. Buyers with families that have children and senior citizens as members, do not prefer homes on the upper floors. Hence, the demand for such properties is limited. When you decide to sell such a house, you may find it difficult to get a buyer quickly.

Rental prospects

For the same reasons mentioned above, houses on top floors are also not as favoured by tenants, who have families. These are, however, quite popular among single working professionals, couples and students.

The popularity of your home among tenants also depends on the city where you live. While tenants in Mumbai and Chennai, where floods are common, prefer homes on the higher floors, renters in the NCR prefer lower floors.

Maintenance

In case the external walls need any maintenance, the buyer may have to spend a great deal of money, considering the extremely high level of risk involved in the process.

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Category: Lifestyle