The recession is only one of many factors that has compelled an increasing number of people to choose renting over buying. While owning a house definitely has its perks – here is a list of reasons why renting might be the best choice for you!
10. No Foreclosure
If you own your own house or condo and you can no longer pay your mortgage, the bank will seize the property and seriously damage your credit. In an apartment, if you can no longer afford it and have to move back in with relatives, sure, you may have to break your lease, but in the long run, this won’t hurt your credit very much, especially if you had been up to date on your rent before your financial crisis.
9. Free Grounds Keeping
Homeowners have to keep up their own yards or pay someone to do it for them. Apartment renters get to enjoy well-kept grounds free of charge.
8. Amenities
Apartment communities often come with pools, fitness rooms, laundry facilities and lounge area. These common areas are maintained by the landlord and free to use for the renters (except for maybe some quarters in the laundry machines.)
7. Neighbors
If you live in a house you’ve got a handful of neighbors to meet and make friends with. Apartment dwellers have hundreds of neighbors within walking distance making it much easier to make friends with neighbors you actually like.
6. Cheaper Utilities
The cost of heating and cooling an apartment is much cheaper than doing the same in a house. In addition, many apartment communities come with free water and garbage.
5. Community
A good apartment complex prides itself in being a community. Landlords may host parties and events to help bring renters together. Common areas, like pools and fitness rooms are a great place to connect with others and make new friends. Not all apartments have strong communities, but for those that do, it’s a great perk of living in an apartment.
4. Lower Cost of Living
Renting is cheaper than buying, at least in the short term. If you’re struggling to make ends meet, renting an apartment is a better choice than stretching yourself too thin in order to buy or rent a house.
3. No Property Taxes
Property owners have to pay property taxes. Apartment renters don’t!
2. Safety in Numbers
Many apartment communities offer security features such as gated entrances and video surveillance. Even in those that don’t, there is a greater sense of security when you’re living close to other people. Neighbors are more likely to notice and report suspicious activity simply because there are more neighbors around. If you have a problem, you can yell for help in an apartment and be heard. This isn’t always the case on residential streets.
1. Freedom to Move Wherever and Whenever You Want
The best part about renting an apartment is having the freedom to move whenever you want. You aren’t tied down to a property so if life throws you a curve ball you can take your chances on it and try out some place new. And because apartments are smaller than houses, apartment renters have an easier time moving, whether it’s down the street or across the country.
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This is very true, renting is much better right now, especially with the current economic situation. Adjustments can be easier and moving can be much more efficient.
Nice article. Very informative and apt.
I rent and wish to own the reasons are; I found that you have to be very careful about asking for repairs If you live in a dump that keeps falling apart and keep asking for repairs that may be done shoddily,or not at all you could get evicted. It has happened to me! As far as the grass being mowed, well that is an iffy proposition I have had grass over my head and up to my knees. then there is the buddy system the landlords get favor with inspectors and the tenant suffers tenants are suppose to have a lot of rights. I would like to know where they are!