Are you thinking of buying a house? There are good things about home ownership. However, there is much to be said for apartment living. Here are some advantages to consider.
Are you going to be at the same job, a few years from now? Maybe you will need to relocate in the future. Do you want to live in your current city for five years or more? If not, renting may be the best option for you. There is only a few things to concern yourself with when you move. You will need to pack and move out. That is not the case with home ownership. You will have to sell your house. This can take a lot of time. It can also cost a lot of money. You may need to fix things, in order to sell your house. Your house will have to be listed for sale. Then you must wait for it to sell. It may take many months, or not sell at all.
You can rent your house and move. However, there are pitfalls there, also. You will still be responsible for upkeep on the house. Renters may do damage to the property. You may live in another city. This can mean a lot of stress and expense. It is much easier to move from an apartment than from a house.
In many cities, it may be considerably cheaper to rent an apartment, than to make house payments. When real estate values rise, so do house payments. In areas with high property values, this may be a cost effective way to live. You will not have closing costs or down payments to come up with either.
Inside upkeep: What will you do if your hot water heater breaks? Moreover, it may late at night. Your basement may be filling with water. You have to fix the hot water heater. You also have to take care of the flooding. Can you do the job yourself? Maybe you have to find a professional. It can be a stressful situation.
House exterior upkeep: Your roof may start leaking. A bad storm has damaged the roof. This can mean a stressful time ahead for you, as a homeowner. Someone has to call the insurance company. It will take time for an adjuster to come to your house. It will take longer to get it fixed. You will pay a deductible. If you rented, you would not face this.
Outdoor work: Did someone just run over your mailbox and leave? Maybe the lawn needs mowing. You want to watch your favorite television show and relax. It will have to wait. There are things to tend to. If you rented, you may be sitting in your chair right now.
Amenities: When you live an apartment, you may have free pool privileges. You might also have resources like a clubhouse.
Apartment living offers many benefits over home ownership. There is no lawn to mow. When something breaks, it is not your fault. You may feel less stress. You may have more time to enjoy life. It may be easier on your budget.