1. Zero Maintenance
As a renter you do not have the responsibilities that a home owner would. When the dishwasher is broke or the sink is backed up you do not have to worry about it. All that you are responsible for is letting your landlord know that something is broke. If you are a home owner and the stove breaks, you have to either buy a replacement or find someone to fix it and pay them. Either way the money to fix the multitude of things that can go wrong within a home comes directly from the home owner’s pocket. Also as a renter you do not have to worry about mowing the lawn or planting and trimming shrubs. In an apartment complex the landlord usually takes care of all of it. This also includes driveway, sidewalk, and curb maintenance. If you are not a handy individual do not worry because by living in apartment there is no need!
When considering buying a home or building a home, you always want to get the most from your money and that means the more amenities the better. Rental communities usually offer a variety of amenities depending on the community. Most will have offer washer and dryer units wither within the unit or in a common area that renters share. Other amenities may include a fitness center, a pool, playground equipment, and in some cases even offer community activities! Besides having amenities within your apartment community, it is common for apartment communities are close to many other attractions. They may be close to local shops, a bus line, grocery stores, and your job or potential jobs. Living within an apartment complex can save you time and money when taking into consideration the amenities that are included versus owning your own home.
Choosing to rent an apartment is a great way to remain flexible. Buying a home is a huge investment and everyone knows this and the last thing one wants to do is have to try and sell their home every couple of years. By renting an apartment you can easily pack up and move onto the next town, next job opportunity, or into a new complex. Leases can range from month to month, one year, or up to three. As a renter this flexibility in leasing options allows you to be a flexible business professional or individual. Being able to pack up and move once a lease has been to term is one of the greatest advantages of renting an apartment.
Depending on where you live safety may be an issue. Apartment complexes are generally a pretty safe place to live. The level of security varies depending on the complex or community that you live in. Many apartment communities are gated or have security that patrols the complex on a regular basis. Even if security is not this tight, residents generally know who is supposed to be in the complex and who is not. Just living within this type of community brings added security. In comparison home security can be very costly, but security comes with an apartment community. Being part of an apartment community not only brings security, but it allows the opportunity for you to become part of the community. A wide variety of people live within an apartment community and becoming part of this cohesive community may give you more opportunities than living in your own home where you are closed off. Many apartment communities offer community activities for its residents to get to know each other better and become part of something.
5. Cost Effective
Choosing to rent can be more cost effective than owning your own home. As a renter you do not have to pay property tax, you do not have to pay for maintenance, and you do not have to pay the interest that comes with a home loan. Most monthly rent is actually lower than your typical house payment! This gives you an opportunity to save a bunch of cash each month. Renting does not have the risk that buying a home includes, but it also does not have the reward of good resale in a good market. Even if renting is just short term it may give you the opportunity to save up to buy or build your ideal home!
Whatever your reason is, renting may just be the best way to live the lifestyle that you want. These are just five reasons to consider renting versus buying your own home or condo. Apartment living can be very rewarding and more practical for many people compared to buying a home. Be sure to look at all you options when choosing your next residence and consider living in an apartment community like Latitude 44!