Should I Rent a House or an Apartment?
When moving, regardless of whether you are buying or renting it is important to take all options into consideration. For many, this means deciding whether renting a house or an apartment is best for them. It is during the very beginning phases of the moving process that many consumers carefully evaluate both the positives and negatives of renting either a house or renting an apartment. If this decision sounds familiar, take heart in the fact that this is among one of the most mulled over choices among renters.
Here are a few tips as to how you can make the best decision that is best for you and your situation.
- Consider the Amenities that go with Each Property
The amenities included in an apartment and home rentals are incredibly different, each catering toward different lifestyles. House rentals are more likely to have larger yards and garages. If you have a dog or several vehicles, then these amenities make home rental a more enticing option. That said, many apartment complexes have complimentary gyms, community pools or other recreational amenities, such as playgrounds or tennis courts. - Compare the Utility Expenses at Each Location
In most instances, apartment rentals will feature lower utility bills than home rentals, saving you more on your bottom line. Apartment buildings often feature thicker, more heavily insulated walls. The purpose of these walls is to dampen noise from neighboring apartments, but an added benefit is increased heating and cooling efficiency. - Seriously Take Your Privacy Needs into Consideration
While apartments do usually have good soundproofing, there is no way to completely separate yourself from noisy neighbors. If privacy is very important to you, then a secluded home property may be more fitting for your lifestyle. - Consider Rent-To-Buy Options
If you think that you will be renting long-term, but cannot afford full mortgage payments, some locations offer rent-to-buy leases that culminate in eventual property ownership. House rentals are more likely to include rent-to-buy clauses in the lease. The only time that you’ll likely be able to buy an apartment is if the building is already in mid-transition from an apartment complex to a condominium complex. - Consider How Much You Can Make the Space Your Own
Apartment complexes typically prefer that each rental unit remains consistently laid out and designed. This means that your lease will likely prohibit doing things like painting the walls, adding new kitchen amenities or other modifications. House rentals will usually require landlord permission prior to customizing the premises, though they are more prone to allowing unit modification. If you want to create a customized interior design scheme, a house usually offers better options. - Remember, Location! Location! Location!
Apartment buildings are more likely to be centrally located near public transportation, local attractions, and area businesses. Houses are more commonly found in the outlying areas of cities or in suburban areas, farther from the center. Of course, houses do exist within centralized city limits as well, just not as prevalently as apartments.