The city of Karachi has one of the largest and most expensive real estate markets in the country. The urban sprawl of the megacity has swelled dramatically in the last few years, adding to the value and diversity of the local property sector.
Along with the apartment culture, the trend of dividing and selling houses into multiple portions is quite common in Karachi. You can find these types of properties in almost every other popular neighbourhood of the city including PECHS, Nazimabad, North Nazimabad, Gulshan-e-Iqbal, Gulistan-e-Jauhar, and Federal B. Area.
So, is investing in a house portion a good option for you? What are the major advantages and disadvantages such investment decisions entail? In this blog, we are going to find answers to all these questions by discussing the major ups and downs of owning and living in a house portion, so make sure to read it till the end.
Major Pros and Cons of Investing in a House Portion
First of all, we’ll shed light on some of the most prominent advantages of living in a house portion.
Pros of Owning a House Portion
Affordable Investment Option: There is no denying the fact that house portions are affordable investment options. They cost only around a half or two-thirds the price of a complete house. Unlike apartments that are usually a part of mixed-use developments in commercial areas, if you are buying a house portion, you’ll be living in a serene surrounding of a residential area. House portions usually offer a peaceful living arrangement, which is why they are still preferred over apartments to some extent.
A Sense of Community Living: If you live in a separate house, you may not be able to connect with your neighbours the way you possibly could while living in a portion system. Having shared entrances, as well as common outdoor spaces, would be an ideal setting for you if you like to actively take part in communal activities and socialising with people living around you.
Increased Safety: Of course, living in a property shared by two or maybe more families, your premises will feel more secure than living alone in a house. If you are heading out somewhere, make sure to inform your neighbours, so they can watch over your property and you could do the same for them. For improved security measures, you can also consider installing a CCTV camera on the main entrance and corridors of the shared housing complex after consulting others.
Shared Maintenance Costs: This is another major advantage of living in a house portion. Leaking pipes, seepage, maintenance, renovation, or uplifting the exterior or interior of the shared space, all these repair and maintenance costs are usually divided among the families living together and sharing a property. In some cases, therefore, living in a portion system could be a lot more affordable than living in a separate house, where you might have to take care of all these expenses on your own.
The decision of buying a house portion has some major downsides, which have been discussed as under:
Cons of Investing in a House Portion
Lack of Privacy: One of the biggest drawbacks of investing in a house portion is privacy concerns. In a portion system, there are many common spaces that can be accessed by every family living in that particular housing complex. Such properties usually have shared entrances and outdoor spaces like lawns, terraces, backyards, or patios. This thing could annoy you if you don’t want interference and prefer private living.
Shared Utility Bills: Like repair and maintenance costs, the utility bill of the premises is also divided equally among all the families living in separate portions of a single house. However, this could be a little unfair to someone who has a small family and has less usage compared to a large family based on multiple household members, which probably consumes more energy resources and utilities. This might be an extra burden of monthly expenditure that you have to bear if you own a house portion.
Car Parking Issues: Another downside of investing in a house portion is the parking issue. As discussed, outdoor spaces in shared living complexes are usually accessible to all families living in them. This also includes the car porch or garage. Normally, a car parking area in a house has the capacity of only one or two vehicles, which means the rest of the residents may have to park their cars in the street. And, if they fail to come to a settlement in this regard, car parking issues could become a cause of regular quarrels and disputes among the dwellers of the portion system.
There you have it — all the major pros and cons of investing in a house portion that could influence your buying decision. Make sure to consider all these factors carefully before you proceed with your investment. If you are already living in a portion system and have some useful information to share with us on the subject, please feel free to write to us at email@example.com.
On a side note, if you are looking for some other types of properties, here are some similar pieces that may interest you.
- Pros and Cons of Living on Ground Floor
- Pros and Cons of Buying a Corner Apartment
- Pros and Cons of Living Near an Airport
- Pros and Cons of Living on a Dead-end Street
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