After you choose where you want to live in Israel, the next step is choosing how you want to live and that decision only can be made when you choose the right type of home. That’s why we’ve dedicated this post to describing the difference between Apartments and Private Homes in Israel, and what you need to know in order to decide which is best for you.
Choosing to purchase and live in an apartment is a popular choice among Olim as well as native Israelis, and there are many benefits to apartment-living in Israel.
There are multiple types of apartments, including but not limited to:
Boutique Building, which usually house 3-5 tenants.
- Standard Building, 4-5 floors that can house up to 20 tenants.
- High-rise Building or Residential Project, more than 5 floors and of which can house tens of tenants. (For the majority of cases, the advantage of these new residential projects of brand-new buildings is that they are built with amenities such as a pool, gym, storage, parking and more. This aspect contributes to the quality of living, but does come with a price).
When choosing an apartment of any type, always remember the following:
- Number of rooms includes the living room, so pay attention to real estate ads.
- In an apartment building, there are two big fees… Arnona (property tax) and Va’ad Bayit, or the “Residents’ Committee” which is authorized to charge a certain monthly fee to all residents. Each resident is required to pay this fee, which usually includes the cost of cleaning and maintenance, elevators repairs, and more. The more features, usually the higher the price.
Additionally, there are many new TAMA 38 apartment projects; an Israeli construction program that has been developed in order to strengthen and renovate older, already standing apartment buildings while building new units in the process. This project essentially aims to protect these home against earthquakes.
If you’re more interested in multiple stories in your home, a large yard, high ceilings, and even a basement – you may be more interested in buying a house in Israel. An individual or family who choose to buy a private home want lots of land, privacy, and a special property specific to them.
Private homes in Jerusalem have a unique character that stem back hundreds of years. The homes are authentic, dating back to the beginning of the 1900s and some dating back even earlier – making these Jerusalem homes full of history and remarkable stories.
So what makes a private home more advantageous to the real estate consumer?
Unlike apartment living, there is no Va’ad Bayit fee (as explained above). Also, with such a large amount of land that comes with a private home, there is always an option of building a private pool on the property, something Jerusalem apartment owners could only dream of. Furthermore, many private homes come with building rights which ultimately make the owner’s property purchase an investment.
If you find yourself leaning towards buying a private home in Jerusalem, the most popular areas with many options to choose from are Baka, the German Colony, Rehavia, Talbieh and Old Katamon.
Real Estate in IsraelOne of the things that I pride myself on is having a complete understanding of my client's needs. This understanding results from a consultation where I ask my clients questions about what they're looking for in a property. Below are the topics...