Buying a house vs. renting an apartment – which one is the better choice?
Gone are the days when apartment living is considered as the only choice for financially challenged families and individuals. Nowadays, even those people with enough money choose to rent an apartment than buy a house. Renting an apartment has now become a lifestyle choice. It’s not longer taken as a sign of a financial status or capability of a certain person.
Although there are people who prefer living in an apartment, there are also those who love living in their own abode. Now, you might be asking which option is better but actually, there’s no right or wrong answer. The choice you will make depends on different factors especially on your lifestyle and personal preference.
And to help you figure out which of them suits you, here’s a rundown of the pros and cons of apartment living and living in your own abode.
Apartment living pros and cons
One of the biggest disadvantage of apartment living is the small space. But this doesn’t have to discourage you as there are lots of ways to make it look and feel bigger. Some people also see it in a positive way as small space means smaller area to clean and maintain.
In an apartment, you will be closely surrounded by random people called neighbors. So better check the apartment community especially the unit you wanted to rent before signing the rental agreement. Your neighbor plays a huge role with the quality of life you’ll have inside your rented home. If you are the type of person who loves a quite surrounding, apartment living might not be good for you. Well of course, it all depends on the apartment that you’ll rent as some apartment offers sound proof units that usually comes in a higher rental fee.
As for the safety and security, apartment living is a better choice. There are apartment buildings and communities that employ security guards to ensure their tenant’s safety. There are also those who use high tech security systems (CCTVs, high-tech door locks, etc) as an added security. Also, if you are living in a good apartment community, chances of theft are less as there are lots of people (your neighbors) surrounding your place.
If you have pets, you might want to reconsider renting an apartment as communities do have specific rules and laws about them. Some doesn’t want large pets inside their units while some will ask for added rental fee. Things like this makes apartment living a less popular choice for pet owners.
The pros and cons of buying and living at your own house
Buying and living at your own home is best for people who wanted to have enough peace and privacy. It’s best for those who own quite a number of pets, who loves inviting people around and throws parties every now and then. Having your own home means having the full freedom to do whatever you want inside your house. But this also means additional maintenance that requires extra time, effort and money. You will have more space to clean up, more windows to wipe and floor area to dust off.
Having your own house means having your own exclusive parking space or garage, unlike in apartment communities where there are times that you’ll end up parking your car at the nearest vacant available spot (which could be hundreds of meters away from your rented unit).
With your own house, you don’t have to worry about rowdy neighbors and curious people asking you random questions all day long.
That being said, both renting an apartment and living in your own house offers advantages and disadvantages that could affect your daily life. It’s just a matter of which one suits you best and your chosen lifestyle.
About the author:
Ron is the webmaster and content editor of Apartments For Rent in Michigan blog and Michigan Houses Online blog. For more of his tips about apartment living vs. buying a house, you can visit this webpage.