Let’s face it; if you’re a student, young twenty-something, or basically anyone not in the top 1% income bracket, renting is the way to go. Renting an apartment allows one to enjoy the modern conveniences without the headache of maintenance that often comes with the territory of home ownership. (Because let’s face it, between classes and work, you’d let your pad crumble around your ears before you made the time or spent the money to get anything fixed).
Speaking of money, renters tend to save nearly $600 a month just by making the choice to rent an apartment! It turns out that not investing in a depreciating asset and bypassing all those property taxes has some pretty tangible short term benefits. Renting is also an extremely flexible option because you’re not tied to a 30+ year mortgage, so if you get a dream job offer in Philly, you could actually start looking into getting one of those Philly lofts your friends keep Instagramming about.
We would take this ode to renting one step further, and say that the best apartments are loft apartments. They are usually the first apartment living experience that doesn’t involve a roommate, and lofts really allow you to make your space your own. Just remember that before you rent a loft, you ask the following questions and/or do research on your own to discover the answers:
1. Am I allowed to paint?
2. If I rent a loft in your complex, is there a fee for pets?
3. Does this complex have 24/7 maintenance?
4. If I rent a loft from you, how do I know I’m getting the lowest price?
5. Does this building contain asbestos?
6. Is the neighborhood safe?
7. How is the plumbing? Is there lead in the paint or in the pipes?
8. Are the doors and windows secured with screens and deadbolts?
9. Is there any structural damage such as from flood or fire?
10. What kind of alterations can I make (shelving, wall hangings, etc) without incurring a penalty?
11. What’s your sub-let policy?
12. Are any utilities included?
13. Do we have gas or electric heating?
14. Is there laundry on-site or nearby?
15. How is parking?
16. How long is the contract or lease?
17. Is the security deposit refundable?
18. Who else has a key? Should I change the locks?
19. What appliances or furniture, if any, are included?
20. How accessible is public transportation?
This is by no means an exhaustive list, but if you keep this as your base and add questions as you look, we are confident you will find the loft apartment of your dreams. Make sure to check back here with pictures and complex recommendations once you do.