The basic difference between an apartment and a house.
Tenure: Residences usually have a 70-year tenure, while apartments generally have a shorter tenure, which may be 40 or 50 years depending on the nature of the plot and the developer's regulations.
Function: Residential buildings are mainly used for living, while apartments can be used for commercial, office and other diversified purposes in addition to living.
Architectural design: Apartments are often open-plan with a focus on space use and flexibility, while residences are more focused on comfort and privacy.
Return on Investment: Due to the diverse uses and higher rental yields of apartments, their ROI is usually higher than that of residences.
Consider the case of buying an apartment.
Transitional housing: For young people who are just entering society or those who need to live in the short term, buying an apartment as transitional housing is an economical and flexible option.
Return on Investment: For investors, apartments have high investment potential due to their higher rental yields and flexible rental options.
Location: If an apartment is located in a bustling business district or in a convenient location, the appreciation potential and occupancy rate are usually higher.
Lifestyle choices: For people who prefer to socialize and live an open plan, the communal facilities and social spaces offered by the apartments may be more in line with their lifestyle.
Relevant Regulations. Property rights protection: According to the Property Law of the People's Republic of China, the property rights of home buyers are protected by law, whether it is an apartment or a residence. Buyers should ensure that the property they are buying has a legal title certificate and land use right certificate.
Purchase contract: When buying an apartment or house, buyers should sign a formal purchase contract with the developer or seller, specifying the rights and obligations of both parties. The content of the contract should include the basic situation of the house, the payment method, the delivery time, the liability for breach of contract, etc.
Tax payment: Buyers need to pay certain taxes and fees when buying a property, such as deed tax, personal income tax, etc. Taxes and fees vary based on local policies and housing transactions**.
Property management: Condominiums are usually equipped with a professional property management company that is responsible for the maintenance and management of common areas. Buyers should understand and comply with the property management regulations to ensure a good living environment.