Renting An Apartment or Owning a Home

Image source:

Single people thinking about renting an apartment or owning a home should consider the pros and cons of renting a luxury apartment versus purchasing your first home. If you are moving out of your parent’s home for the first time and you are not sure what the best option for you is, consider some of these points before making your move.

Why You Should Rent An Apartment

Image source:

Apartments are readily available in every city, no matter where you live. Some may be cheap apartments like those found in lower-income neighborhoods, and others may be luxury apartments like those built and managed by J Marshall Square. Depending on your financial situation, either could work for you. The benefit of renting an apartment is that it’s ready to go for you right away, and usually has a maintenance crew on the grounds that will repair issues with the apartment and cover the landscaping responsibilities. Apartments are great for people that don’t have the time or money to manage the expenses of owning a home. Apartment rentals are also usually short-term, and the contracts are usually pretty cheap to break if you find that you need to.

Why You Shouldn’t Rent An Apartment

There are also some drawbacks when renting an apartment. Moving on a regular basis can be inconvenient if you find that the apartment you are renting doesn’t suit your needs. Having neighbors wall to wall, and above or below you can be annoying. Noisy neighbors can create an irritating environment if you prefer a quieter setting. Many single families live in apartment complexes because they are an affordable option, this means there may be more children living in the complex, and that can create even more noise.

Why You Should Rent A Home

Image source:

Renting a home is a great option if you are not ready to purchase, or if you don’t want to rent an apartment. Renting a home will give you more privacy than an apartment will. Dealing with a homeowner is oftentimes more flexible than dealing with a rental agency with a luxury apartment complex. Renting an apartment will provide you the luxury of having a grounds crew, and maintenance is usually provided by staff. When renting a home, most repairs need to be made by you, and if something big goes out like a fridge or air conditioning unit, then the homeowner should be responsible for that.

Why You Shouldn’t Rent A Home

If you are thinking about how much an average home rental is, you’re looking at least $1,500. Paying someone else’s mortgage when you could be paying your own just doesn’t make much sense. That is a lot of money to be paying monthly just to rent a property. If purchasing a home isn’t an option, buying a townhome or condo could be a legitimate option. You can start checking out areas with good value options through websites like Condo Wizard, then plan for the budget that you will need. With the right choices, you might end up just adding a few more dollars to your monthly rent while getting your own property.