Flat Or House – Pro And Cons Every Mumbai Real Estate Buyer Has To Consider


Aamchi Mumbai is a city of dreams where you can witness money and its lack equally when you are out on the streets. Money always becomes the deciding factor of your desires here just like any other metro city in the country. 

How do you choose and pick what works in your best interest when buying a property here? Living in Mumbai is no easy deal, as much as it is a fancy you want to indulge in, there are some harsh truths about real estate that needs to be addressed. Let’s get to it.

What’s the purpose – Rental?

Whenever you buy a property, no matter where it is, it’s a must you have a clear vision of why you want the property. Most people dream of a house to have a family, settle in that is close to work and has basic amenities and more to offer. 

This can be one goal. There is the other lot who own properties when the real-estate prices are low and rent it out to gain back investment and make it an asset. You need to ensure that you first categorize which lot you belong to. 


The pro for buying a house, in this case, is having an entire space to yourself with a patch of green if you are lucky enough. The pro is bigger for investing in a property to rent it out. Renting out an apartment in the city would be beneficial as it would be easy to let out and more affordable to many. This would fetch you more prospects in those looking for a pg in Mumbai. A house, in this case, would fetch you more income than the apartment.


As easy as it is to let out an apartment, that is not the case with a house. For letting out a house where only a single family can reside, it is hard to find as many prospects as an apartment. In terms of how much you earn the costs will vary for both the property for obvious reasons but the income generated would be more for a house than an apartment. 

Amenities Cost Consideration

There are typically basic amenities that come along with property. This can be anything and everything like parking space, power back-up, fire safety procedures, security, etc. In terms of this, we can judge the pros and cons involved with buying the property.


For an apartment, in this case, you have to give a thumbs up.  It is so because most of the apartments would come with these basic amenities as these are the things provided for such housing by those who build the property.


The story is not the same in the case of independent housing. In the case of independent housing, it is not the same thing. For such properties, there are extra efforts and extra costs involved. About 2-3% of the total investment of the property goes behind these costs. This would be quite an expense, especially for the power installation costs, power back-up costs, water supply set up along with the maintenance costs. 

Home Loans

Often buyers who are keen on buying a property would take up loans to invest in a property. This complicates the situation more as getting a loan for buying an apartment is easier than getting a loan for buying a house or an area to build a house on it. The banks that lend you the money generally have a list of property projects with them which allows the borrower to get easy loans while investing in a property from those projects. 


You can get a loan for buying either a house or an apartment or even building a house. It is easier in multiple cases to get a loan for an apartment rather than an entire house. There are a lot of apartment related projects which you can easily get a loan for.


There is a long and pending scrutiny process that buying a house is involved with. This could actually take months if you are looking for a property in Mumbai. Another con for a house is the banks involved in India provide a varying 60-70% of the total cost of the plot that you are buying. This means that there is a pending cost that you yourself have to pay. You may get the construction loan sanctioned easily without much hassle but you have to dig a bit deeper in your pocket for the plot. 

Crunch Time

There are a lot of problems associated with appropriating the new property. This would involve the time that you have in your hands to buy the property. If it is something that you need within a month or two the problems get worse, especially in Mumbai.


An apartment, in this case, is something that is easy to get your hands on. It can be a resale property or in some cases an old property. There is a great percentage of sellers who do are looking forward to selling their used property. This is a great added advantage in case you are getting an apartment.


For a flat, it may be easier but for a house, within a short period of time? It is a harsh truth but Mumbai, in this case, has fewer options. Depending on how much money and the size of property you are looking for this may vary. If it a single family-stay house with 2 floors, it might be difficult to avail within a short period of time, because most people living in these treat these as their homes and not assets essentially.


If you have the time and money, you can avail any of these options, but it would be wise to go for an apartment if you are about to treat the new property as a liability and reside in it. In case you are looking forward to renting, although the prospects are numbered, once you have one you can earn a solid income for your asset if that’s something you are looking forward to, get a house.