Benefits of Renting vs. Buying

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When it comes to renting an apartment versus buying a house, there are many unexpected benefits to renting. Many apartment complexes come with amenities that you may not have if you own or rent a house such as a pool, tennis court, and fitness center. Plus, plenty of extra hassle that comes with owning a house are typically taken care of when you reside in an apartment, such as maintenance and lawn care. Want to learn more about the benefits of apartment home living? Check out the following top benefits of renting an apartment as opposed to owning a house.

Financial

The biggest benefit of renting instead of owning is the financial aspect of renting. The fact is that rent is generally cheaper than a mortgage. In addition to an overall lower monthly payment, upkeep and utilities are lower due to less square footage.

Maintenance

When renting, maintenance is taken care of, making this a financial benefit and a timesaver. No worrying about watering the lawn or shoveling snow and no stress over a clogged sink or broken air conditioner. Fixing these items in an apartment is easy, because it’s someone else’s problem!

Community

A sense of community is an underrated benefit to apartment living and being steps away from neighbors can provide an excellent atmosphere for creating life-long connections. Some complexes even regularly host resident events to encourage community engagement.

Amenities

Unlike houses, apartment complexes are often built with amenities on-site such as clubhouses, pools, and fitness centers. Some apartment communities offer discounts to local gyms, shops, and restaurants as an added resident perks program.

Size and Style

Apartment units are built for convenience. Often, apartments are spacious but not overly large. They are built to be functional while the personal touches and décor are in your hands.

Short-term

When looking for short-term living options, renting is by far the superior option. Buying a house is a much longer time commitment and is a major life decision. Whether you are working on your credit score, saving up funds, or slowly preparing for the responsibility of owning a home, an apartment is the best option in the meantime.

Savings

Renting is the perfect time to invest in a long-term future. While spending less on your living arrangements, this is an ideal time to save extra earnings.

Lower Responsibility

Homeownership comes with stresses and responsibilities that you can avoid entirely if you rent. Homeowners must deal with up-keep, unexpected damages and replacements far more than a renter would.

Accessibility

One of the major perks of apartment home living is the convenient proximity to everything you need. Apartments are much more likely to be located in communities that offer shopping, restaurants, art galleries, parks and more as opposed to a house that is tucked away in a neighborhood.

Convenience, cost, and safety are just a few of the unbeatable perks of choosing to rent an apartment home instead of owning a house. When considering the options, we hope that you can find a place you are proud to call home. 

 

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