Gated Communities: Is The Extra Price Worth It?

With the real estate industry on a boom, many homeowners are inching towards gated communities. At first sight, you might get a positive impression of most of these projects.

Particularly, the middle and upper-middle-class families find residing in gated communities to be trendy enough. With lush green beauty, enhanced security, and several facilities, lifestyle looks dynamic in these projects. However, have you wondered whether investing in these properties is really worth it?

In this post, we bring before you some of the facts that you might have never wondered about before. This might be an eye-opener for you, and based on your fresh knowledge, you can make your decision.

You end up paying 30% higher EMI
Gated communities are as much as 30% more expensive than ordinary properties of the same value. This implies that you would be shelling out 30% higher on EMIs. As a result, you would be bearing an unnecessary burden without any reason. Most homeowners end up repaying their home loans for longer tenures.

High maintenance costs
Although you might have in-house electricians and plumbers, how often would you need their assistance? Ultimately, you would end up paying a high maintenance cost for services that you would seldom need. Moreover, clubhouses happen to be a key attraction for residents. You should be knowing, that this clubhouse is built at the expense of the families in a complex. Besides, it is quite expensive, considering all the facilities you get to enjoy. The only feature that comes free of cost is the walking trail.

Other compromises you make
Now, coming to events and festivals, most complexes have limited spaces, where all the families in the gated communities would crowd together. You would hardly get the sensation of an elite class of people celebrating events and occasions. Rather, it gives an impression of slum dwellers flocking together. During major festivals like Sankranti or Diwali, you won’t get much scope for celebrating the same, flying kites or bursting firecrackers. Ultimately, you end up compromising a lot, in case you are not informed about these shortcomings.

Is it worth purchasing an apartment in gated communities?
Well, you might have a fascination to reside in one of the gated communities in your city. Have you considered the shortcomings that you just read in this post? Gated communities come with certain gimmicks, that eventually lure homeowners to purchase these properties.

However, you can enjoy a better quality lifestyle, with the same range of features around the city when you choose an ordinary property in the city. Of course, you may not have a clubhouse or lush green zones around. However, it’s easy to find a gymnasium or swimming pool close to your locality.

From an economic standpoint, it is logical not to purchase apartments in these estates. Firstly, the developers charge higher prices than other flats or apartments. Secondly, you need to change your lifestyle or compromise while adjusting to fit into the so-called ‘elite’ culture. Of course, you have alternatives in the city, where you can enjoy all the features and amenities on choosing the right location.

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