Real EstateBenefits of Renting an Apartment

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Mahmoud ABJune 15, 2020449 min

There are many benefits to renting an apartment instead of buying. Finding a good apartment for rent is a completely subjective process. What’s ideal for you in terms of size, location and amenities might not work for someone else. Because the search for a new apartment is so subjective, it’s important to know how to find your best fit. Many apartment complexes have amenities that you will not have if you own or rent a house, such as a pool, tennis court, and laundry services. Plus, plenty of home-owner hassles are typically taken care of when you reside in an apartment, such as maintenance and lawn care. If you’re feeling down about not owning a home, or if you just want to remind yourself how fabulous the apartment lifestyle is, here are the top 10 benefits of apartment living.

1.) Financial

The number one benefit of living in an apartment is the financial aspect of renting. Rent is generally cheaper than a mortgage. In addition to an overall lower monthly payment, other financial components such as upkeep and utilities are generally lower due to the smaller space.

2.) Maintenance

Not only is the lack of maintenance worries a financial blessing, but it’s also a major time saver.  When it snows, no need to shovel, and when the lawn looks a little rugged, someone else will be there to take care of it. The peace of mind that comes with renting is priceless.

3.) Amenities

Unlike houses, apartment complexes are often built with amenities such as pools, gyms, and laundry facilities directly on the premises or in very close proximity. 

4.) Safety

The close proximity of neighbors makes multi-unit dwellings the safest locations for single women, children, families and the elderly.

5.) Size

Apartment units are built for convenience. The space does not have to be large and lavish; it just needs to feel safe, quaint, and functional with a living room, bedroom, bathroom and kitchen. 

6.) Community

Another great benefit of apartment living is the opportunity for social engagement. Although a sense of community exists in both rural and suburban areas, the close proximity of apartment life provides an excellent atmosphere for creating lifelong connections.

7.) Short-term

Another area where renters have a better financial deal is the upfront cost. Renters might have to pay a security deposit equal to one month’s rent. However, when purchasing a home with a mortgage, you’re required to have a sizable down payment typically 20%.Apartment for rent is a great short-term option.  Deciding to buy a home is a lifelong dream, but you have to live somewhere while you work to make that dream a reality. Whether you are working on credit, saving up finances, or mentally preparing for the responsibility of owning a home, an apartment is the best option in the interim.

8.) Savings

While renting, we face less burdens and responsibility. Thus, this time is the perfect opportunity to invest into your future. By placing extra money you earn into a “rainy day” account, you can save up for a bigger, brighter future.

9.) Lower Responsibility

Home ownership comes with a lot of headaches that deciding to rent will free you from.  Instead of using the “rainy day” fund to fix the boiler, it can be used for a much-needed vacation to a tropical island. Of course it’s important to take care of your space and belongings. But not needing to worry about property maintenance can be a major stress reliever. 

10.) Accessibility One of the best things about an apartment complex is the close proximity to everything you need. Shopping center locations are typically chosen by the overall demographic of a community. The greater the chance for possible patrons, the larger the need for the shopping center. No matter what you need, there is a shopping center nearby to suit you.

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