The great housing debate: Standalone buildings vs gated communities
Homebuyers are spoilt for choices when it comes to the available real estate inventory. From standalone buildings and gated communities to townships and row houses, there is something to suit each pocket size. However, one thing that homebuyers seem to be divided on is picking between a standalone building vs a gated community. “Buying a home in an established standalone building is ideal for those who value privacy, bespoke designs, authenticity, and the charm of a well-established neighbourhood. It often appeals to those buyers who appreciate architectural character and are seeking personal sanctuaries in prime locations that have matured over time,” says Pavan Kumar, CEO and founder of a real estate group. On the other hand, a gated community is a perfect match for those who wish to have an organised environment and a sense of community living. But, investing in a house is dependent on several factors. While personal choice, investment goals, financial and risk-taking capacity, and future planning are the primary ones, a homebuyer must also consider some of the important benefits and drawbacks of buying a house in a standalone building against one in a gated community.
Benefits & Drawbacks of a Standalone Building
“Unlike properties in gated communities with shared amenities that require regular upkeep, standalone buildings have lower maintenance costs as amenities in comparison are often limited,” says Kumar. Society management is also easier; as the number of stakeholders is comparatively lesser, decision-making is easier and faster. Standalone buildings are generally in city centres, giving homeowners an exceptional standard of living with all the amenities and necessities easily accessible. The cost of living however could be slightly higher if you enjoy leisurely activities such as swimming, going to the gym, playing tennis, etc., as these facilities may not be available within the premises. Enrolling for these services outside of the building means paying an additional fee.
Pros & Cons of a Gated Community
A gated community offers a lifestyle of convenience and recreation. “They typically offer a wide array of amenities such as a clubhouse, swimming pool, sports courts, senior citizen areas, children’s play area, pet-friendly zones, gyms—something that suits each generation,” informs Rohit Gera, managing director of a real estate group. However, these amenities also increase the cost of the property, thus making buying an expensive deal to begin with. These homes also have the potential to appreciate faster than standalone properties. The combination of premium amenities and well-maintained common areas tends to increase the demand. Although, this only stands true if the gated community is well-maintained. Most gated communities hire professionals for the upkeep of the amenities or the homeowners’ association takes care of it, but it comes at a cost. Gated communities often foster a strong sense of community as residents share their housing society with a large number of people. Additionally, living in a gated community not only creates a sense of camaraderie but is also great for families with children as it fosters friendships. Moreover, for families with children and elderly members, gated communities offer a sense of security as children and elders do not have to step out of society to access playgrounds or walking tracks.
However, managing such a huge housing complex, with several stakeholders is a task. “Thus, rules and regulations become a norm, and buyers should understand the homeowners’ association rules and regulations, as they may limit certain activities. For instance, if you wish to do some internal house renovations, there may be rules about the work hours – restricting work for an hour or two in the afternoon. This is generally excused in a standalone building as a smaller group of people is often accommodative,” says Gorakh Jhunjhunwala, MD, Meraqi Advisors.
