For many people, the decision to buy a house or rent an apartment is a no-brainer and may come down to financial obligations. But there are actually some benefits to living in an apartment that you may not have considered. If you’re on the fence about whether to buy or rent, check out these benefits of living in an apartment.
The Cost of Renting vs. Owning
One of the biggest benefits of renting an apartment is that it’s typically cheaper than buying a house. When you own a house, you’re responsible for repairs, upkeep, and maintenance, which can be expensive. When you rent an apartment, your landlord is responsible for those things. So, if something breaks, you don’t have to worry about fixing it yourself or paying someone to do it—your landlord will take care of it.
Additionally, apartments often offer amenities that you would have to pay extra for if you owned a house, like a gym, pool, or parking garage. You can live in a luxury apartment with all the additional amenities without having to invest in them for your own home. And let’s not forget about utility bills. When you live in an apartment, utilities are usually included in your monthly rent payment. That’s one less bill to worry about each month. If you aren’t financially ready to own a home yet, there is no shame in living in an apartment. It can allow you to save up money for a down payment in the future.
Convenience and Location
Another big benefit of living in an apartment is convenience. Apartment complexes are typically located in the heart of cities, near public transportation and all the best shopping and dining options, making it especially beneficial if you don’t own a car because you’ll be able to walk or take public transportation to get where you need to go. An example would be for those specifically looking for one bedroom apartments in DTLA, typically the biggest factor in moving here is convenience and the minimal distance to the amenities outside their door, this might be for business or their social life being primarily in the surrounding area, because of this the size or style of the apartment might become less important. The factors influencing whether you like an apartment or not will change per person. For example, someone looking to move into those LA apartments would likely not want to be based in Orange County or somewhere else far away from downtown LA, even if the apartment was bigger or in a more preferred style.
When you live in a house, on the other hand, you’re usually located in more residential areas that are further away from the city center. This means you’ll probably have to drive everywhere, which can be a pain (and costly if you have to pay for parking!). If you work in an office in the middle of downtown, then getting an apartment might be a better option for you. Consider your daily lifestyle when choosing if you are ready to buy a house yet.
Less Responsibility
Of course, with convenience and cost savings comes less responsibility. When you own a house, there’s always something that needs to be done—whether it’s mowing the lawn, painting the trim, or fixing a leaky faucet. When you live in an apartment, your landlord takes care of all that stuff for you. So if you don’t have time (or the inclination) to do repairs and maintenance yourself, then an apartment is probably the way to go. Consider how much spare time you have during the week and weekends. If you are someone who is constantly on the go, then an apartment might be the best choice for you. Also consider if you love to travel. It can be harder to maintain a home when you are traveling for long periods at a time.
As you can see, there are some real benefits to living in an apartment instead of a house. If you’re on the fence about whether to buy or rent, hopefully this has helped you make a decision. Weigh out the pros and cons that are relevant to you as you make your decision about where to live next.
