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3 Reasons to Choose Apartment Rental Over Home Ownership

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About one-third of Americans choose to rent over own. There are many factors that go into deciding whether apartment rental or home ownership is right for you: income, location, and availability are just a couple examples of things that can greatly influence your decision. In most cases, especially for younger individuals that don’t have as much money, renting an apartment is almost always the better and more sound option. Here are 3 reasons for anyone to consider apartment rental over buying a house.

    1.) Service/Maintenance: The level of service and maintenance provided when you rent an apartment are amenities you won’t have free access to if you opt for owning a house. Many professional companies offer 24/7 maintenance service for things like leaking pipes, electrical shortages, or broken locks. Lawn care such as mowing, snow removal, and landscaping is also many times taken care of by the landlord if you’re renting.

    2.) Investment: There are multiple studies and research that has been done that shows the financial investment in buying a house is not as economical as apartment rental. Overall choosing to rent saves the average person $560 each month. Not to mention the housing market can be volatile at times causing depreciation outside of your control. Not to mention all the time and effort you must consistently put into a house to raise its value. Unless you know for sure you will be living in a house for over 5 years it’s downright foolish to buy a house. About a third of buyers will make this mistake costing themselves years of paying the price to own a home while not having the time to build any substantial equity.

    3.) Quality: By choosing to rent a loft, apartment or house you will be putting yourself into a position to live above your means in a way. The money you save on a down payment on a house as well as the overall lower monthly payments means you might be able to afford to rent a luxury apartment the quality of which you would not be able to afford to own.

The American public was in some ways sold a bill of goods when for years everyone from the government to schools were telling people home ownership was the American Dream. While it is a fine goal and certainly an option for many people, in most cases the more efficient and economical thing to do is apartment rental. You will have less to take care of on a day-to-day basis, you will save money outright and over the course of time, and you will put yourself in a position to enjoy a quality of life that might otherwise be unobtainable.

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Three Points That Will Change Your Perspective on Apartment Living

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Making the choice of where to live can be difficult, especially in regards to the pros and cons of renting and buying. While the economy has since recovered from the housing crisis several years ago, investing in a mortgage is still not without risk. Many people are now looking to the convenience and luxury of options like city loft apartments for something more secure, but what are the exact advantages of choosing apartment living?


1) Apartment rental has proven to be less of a financial risk than buying a house.


Many of us saw the effects of the Great Recession towards the end of the 2000’s with an increased number of foreclosures. Homeowners still run that risk and they’re not the only ones; almost 40% of foreclosures happen to single-family homes, condos or any other form of housing rented out by a primary owner. Those who choose to rent an apartment are obviously immune from something as earth shattering as having one’s home foreclosed on by the bank.


2) Renting an apartment is more cost efficient.

A lot has been said over the years about the financial virtues of investing in a mortgage. However, statistics show these may no longer be representative of our modern situation. On average, renters can expect to save $560 a month in comparison to those who pay a mortgage, as well as avoid investing in an asset that may depreciate in value. As an example, $100 invested in a mortgage in 1985 would be worth only $293 today, whereas that much invested in stocks would’ve multiplied as much as four times to $1,146. Furthermore, home ownership requires separate payments like those for lawn and home maintenance on top of prices that can increase, such as property taxes and insurance. For these reasons, it’s not hard to see why the financial benefits of city loft apartments outweigh those of houses in the suburbs.

3) Apartment life is more luxurious and convenient.


What can be better than having tedious tasks like lawn and home maintenance taken care of for you? Along with providing better financial security, lofts and apartments offer on-site customer care and quality amenities, such as pools and workout rooms. This onsite care provides for quicker maintenance service than having to wait for a landlord’s assistance. Luxury apartments are now more affordable than ever, making these benefits more accessible to any kind of lifestyle.
Whether it’s in a place closer to the suburbs and bedroom towns or city loft apartments in the center of activity, luxurious full-time residential service need not be an elusive dream any longer.

The evidence shows that now is a great time to find an apartment over any other residential options. With the stressful busyness of today’s modern world, a place where a person can find peace of mind in knowing their finances are secure and their responsibilities are lessened can make all the difference.