Why an Apartment is a Better Homes than a House?

Answer 1

Previous to 2007 and the financial crisis that found home values getting walloped, you wouldn’t find too many people who would step up and sing the praises of apartment living. There are however, many aspects to apartments that are not only attractive, but downright better than homeownership. While this isn’t to say that apartment living is for everyone, the apartment lifestyle is often conducive to a more carefree style of living that appeals to many.

Ability to Move

One aspect of apartment living that has been highlighted during the recent recession that was not as obvious before the home value collapse is the ability to pick up and move when the lease is up. Many homeowners have found themselves trapped so to speak when unable to sell their homes, while apartment dwellers can more freely make a decision as to whether they would like to stay or go when the their lease is up. This freeing aspect of apartment living is often appealing to those who like a change of scenery every year or so.

Peace of Mind

Another great characteristic of apartment living is often the peace of mind that accompanies such a lifestyle. With a house, many homeowners must worry about maintenance issues, upkeep, leaving the home unattended while on vacation, security factors, and other aspects of homeownership, often not as prevalent with apartment dwellers. While this doesn’t mean that those living in apartments don’t concern themselves with such issues, it might just be on a lesser level as homeowners.

Repairs, Maintenance, and Savings

While there are certainly positive aspects to owning a home, such as being able to make renovations or changes that better fit your lifestyle or preferences, it’s hard to deny that the ability to contact a maintenance professional or manager to fix issues within your apartment isn’t nice. Not only this, but it can save you money on repairs.

However, repairs and maintenance aren’t the only ways apartment living can save you cash. Even when factoring in the building of home equity, by avoiding property taxes, mortgage interest, homeowner’s insurance, higher utilities, yard maintenance, and similar costs involved in owning a home, apartment living might be more cost effective than owning a home.

Disclaimer:

This article is for informational purposes only and the author’s personal opinion. Any action taken by the reader due to the information provided in this article is at the reader’s discretion.