High-rise buildings are an innovative style of development that blends perfectly for multiple purposes. Mixed-used high-rise buildings offer everyone a comfortable and modern lifestyle and sophisticated commercial experience.
Mixed-use buildings are usually a combination of commercial spaces, offices, and residential apartments that offer various benefits, including smaller spaces to accommodate more people, more efficient land use, a vibrant, walkable community, every facility under one roof, and so on. It is also one of the attractive investment opportunity in Pakistan. Read our blog on top investment opportunities in Pakistan for more details.
Realtorspk.com has gathered all one should know about high-rise mixed-use buildings in Pakistan. So the investors will have an idea about its pros and cons before investing.
Pros & Cons of Mixed-use Buildings:
In Pakistan owning land is a common trend, and many people are unaware of the features and benefits of investing and living in high-rise buildings. On the contrary, mixed-use buildings offer safe and secure investment opportunities, closed-community, and many modern facilities and amenities under one roof. Let’s have a look at some of its pros & cons:
Pros:
1. Ultra-Modern Architecture:
One of the noteworthy features of a high-rise building is the modern and elegant architecture of apartments and commercial spaces. In Pakistan, few specific architectural designs are used to construct most houses and commercial spaces like offices, shops, halls, etc.
The mixed-use building is a new trend, and it is constructed on contemporary architecture. The buildings often present sleek design elements that set them apart from traditional residential and commercial structures. The architecture makes these buildings more aesthetic, appealing, and functional.
Some of the modern features of mixed-use buildings include state-of-the-art lobbies, spacious staircases, and wide corridors.
2. A complete indoor package:
Renting or buying an apartment in mixed-use buildings, you can avail all-in-one facilities package under one roof. A high-rise mixed-use building means indoor facilities like food courts and commercial outlets. Fitness centers & gymnasiums, daycare centers, and emergency and health centers.
All facilities under one roof mean you can enjoy a better quality of life, get increased value on property, and have an easy way to socialize with people.
3. Elegant Outdoor spaces:
Elegant outdoor spaces of mixed-use buildings are among many features that separate them from all other types of buildings.
Outdoor spaces in mixed-use buildings are an extension of indoor spaces to increase functionality and aesthetic appeal. The place offers space for shoppers, workers, residents, and others to take a break and spend their leisure time. The outdoor space is also used for events and different gatherings to promoting a sense of social interaction and community.
4. Ease of accessibility:
One of the significant pros is the increased walkability, convenience, and accessibility. With everything under one roof, from grocery stores to fashion stores, from dry cleaners to food courts, mixed-use residents can avail themselves of all facilities without stepping one step outside their comfort zone. It saves a lot of time and increases the feeling of safety and security.
Likewise, due to many businesses and services in the proximity, people get easy access to a different modes of transportation. People working in mixed-use buildings have more chances to generate revenue and promote their brand.
5. Efficient constructions:
High Rise mixed-use buildings are more energy efficient buildings than traditional structures. The high-rise buildings allow for more efficient land and resource use; for example, people living and working in mixed-use buildings will require less energy to cool or heat up than in different buildings for each use.
Mixed-use building means less traffic congestion as people can live and shop all under one roof. It also saves bills on electricity and fuel.
6. Affordable maintenance costs:
The studies on living in mixed-use buildings vs. houses vs single-use buildings have shown that the overall maintenance cost of mixed-use buildings is less than all others. It is because space and resources in mixed-use buildings are used efficiently.
Moreover, mixed-use structures have a longer lifespan than houses and single-use real estate. So if you are annoyed with daily maintenance or expensive restoration charges, you should invest in mixed-use buildings. It will save time, fuss, and money and give you a chance for a more peaceful life.
Cons:
Mixed-use buildings are a bundle of facilities and many pros & advantages, but there are a few potential challenges to living and investing in high-rise buildings. Let’s look at the cons of investing/ living in high-rise mixed-use buildings.
1. Congested Parking Space:
In Pakistan, many mixed-use high-rise buildings are located in congested areas. Therefore, finding a proper parking spot near your living space is hard. Not finding a safe and proper parking place near residents or business places can be challenging. Please read our blog on top real estate projects in Peshawar to find an ideal high-rise building for investment.
If you are considering buying or renting an apartment in high-rise mixed-use buildings, make sure you have considered all the factors and their potential effect on your daily routine before getting stuck into long-lasting issues. Read our blog on things to consider before investing in real estate for more information.
2. Less privacy:
It is one of the major issues of living in mixed-use buildings. Living in an apartment means proximity to the neighbors, which means it is obvious you might enjoy less privacy and more noise in your surroundings. Sometimes during the holiday or any special occasion, there is a lot of crowd in commercial units, and it causes trouble for the residents. Construction noise, traffic, and the hustle and bustle of people create major issues for the residents. The residents often launch complaints and take legal action against noise and its factors.
For commercial users, noise can be an issue that impacts their ability to operate effectively. Likewise, it can make it difficult for residents to sleep or relax in their apartments.
In modern mixed-use buildings, the noise issue is controlled by different methods. For instance, the use of sound-proof material in the construction of the buildings and constructing a buffer zone between residential and commercial areas like stairwells and hallways.
3. Management Problems:
Managing high-rise mixed-use buildings can be havoc for many real estate managers unless they have hired a team of managers. High-rise buildings consist of different commercial and residential units, and with lots in hand, it is challenging for one manager to handle everything. Competent builders, developers, and owners hire an experienced team of managers to run things smoothly.
Let’s wrap:
As a real estate investor or tenant, it is important to consider the building’s facts, pros, and cons. You should be aware of legalities, speak up with the landlord about any relevant query you have in your mind and read the contract before signing lease papers.
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