Renting an apartment isn’t just an option for people living away from family for the first time. Many people these days are choosing to rent an apartment, even if they could buy a home of their own. Why choose to rent instead of buy? Well, there are significant savings, flexibility, and perks that can come with renting an apartment that you can’t get from purchasing a home. Read on for the top six reasons people decide to rent an apartment.
The threat of various crimes is always a significant concern for anyone living in an apartment or home. However, if you want to own a home in most places, you will have to pay out of pocket for a security system that can potentially protect you. However, these can be quite expensive and still not foolproof. If you rent an apartment, your complex will likely have some built-in security systems or gates requiring entry to be authorized. Additionally, living in a building with other people may make you feel less isolated and vulnerable to potential threats.
People, particularly single people or small families, may decide to rent an apartment because it is more cost-effective for utility bills. Smaller apartments require less electricity and water, which reduces your bills significantly. Additionally, depending on your complex, your water, or even utilities like cable or Internet, may be conveniently bundled into your rent, which simplifies your monthly bill payments.
Amenities and Perks
People who decide to rent an apartment also get to take advantage of any amenities or perks involved in living in their apartment complex. This can include free access to a gym, swimming pool, and more. If you live outside of that complex, you would have to spend extra fees each month to belong to a gym or fitness club, which can be quite expensive.
Occasionally, something may need to be repaired in your apartment. If you rent an apartment, your apartment complex or landlord often has services intact to offer free or low-cost maintenance services. If you live in a home you have purchased, you are entirely responsible for arranging and paying for maintenance, which can become quite costly, especially if your home is large.
No Property Taxes or Mortgages
Homeowners get hit every year with property taxes and are paying regular mortgage payments. By renting an apartment, your name is not on the deed, and you will not have to pay property taxes for your unit. You also do not have to worry about mortgage payments or interest accrued on mortgage payments.
In the ever-fluctuating job market, flexibility is key. Many people who have to move to find job opportunities prefer to rent an apartment. If you buy a home, you are committed to working in that area.
In general, renting an apartment can be the best choice for anyone not wanting to be burdened by high living costs and mortgages, and for people who want the freedom to move when it suits them.
Let Us Be Your Apartment Home!
Whether you need your very first apartment home or are relocating to the area, Apartments of Harborside Village would love to be your dream apartment home. Are you looking for beautiful waterfront apartments in Joppa, Maryland? Let us show you one of our spacious and affordable apartments at the Apartments of Harborside Village. To learn more about our apartment options, visit us online, give us a call at 410-679-1130, or email us. For a peek into what it’s like to live in our community, follow us on Facebook, Twitter, Pinterest, and YouTube.