Finding a place to live can be incredibly difficult even in the best of times. Real estate markets are full of apartments for rent and houses for sale and it can feel like an impossible choice with so many options. However, there are some advantage to renting apartments over choosing from homes for sale. This article looks at three benefits to renting an apartment instead of buying a house.
- More Choices Available at Short Notice: As a general rule, if you need somewhere to move in relatively quickly, there are more apartments available at short notice than regular homes. An advantage to renting an apartment is that you have more choices available for a quick move in. Homes, on the other hand, generally can’t be moved into that quickly, especially if you’re looking to buy. This is a major advantage to renting an apartment.
- Access to Building Maintenance: Another advantage to renting an apartment is that you’ll have access to building maintenance services provided by your landlord or the company that manages the apartment building you live in. As a general rule, most rental companies include some level of maintenance in their rental agreement. This can include getting help with plumbing issues, fixing leaks, or having broken appliances repaired or replaced if necessary. By contrast, if you’re buying a home, you’re generally expected to cover building maintenance out of your own money. By renting an apartment, the cost of maintenance can be included in the monthly rent.
- Ability to Move With Short Notice: Another advantage to renting an apartment instead of buying a house is that you can move out with short notice. This advantage varies depending on specific terms in the lease. Some landlords will allow quick move outs, other’s will insist on a 30 or 60 day notice before moving out. Even if a notice is required, that’s still a quicker move out period than selling a house, which can potentially take a very long time depending on the housing market in your area.
In conclusion, there are three big advantages to renting apartments instead of buying a home. These include having more choices of apartments available at short notice, having access to building maintenance, and having the ability to move with short notice. These all make renting an apartment far more advantageous than buying a home. Keep these advantages in mind when you’re looking for a new place to move to.