When it comes to your home, bigger isn’t always better. Although the age-old norm is that a house is better than an apartment, there are many benefits to living in a smaller space. The average price per square footage of space is steadily on the rise. Pay a visit to some property sales offices, such as the como sales gallery, to get an idea of how much an apartment costs, and how much you will save if you were to buy or rent an apartment rather than a house. To help with your decision, here are 10 benefits that come with living in an apartment. Finance Renting or buying an apartment can be a wise financial choice for many. Renting is generally cheaper than a property loan or mortgage. When you rent an apartment, the overall financial responsibility for the apartment unit falls to the landlord or owner versus the tenant. The smaller square footage means the less you pay in terms of rent. It might not seem that way, but a landed house can cost a fortune in rent alone. On the other hand, even if you buy an apartment, your monthly financial commitments will still be lower than if you were to buy a hose. This is because other financial components such as upkeep, maintenance and utilities are generally lower due to the smaller space. Maintenance Maintenance expenses for apartments are generally lower. If you’re renting, this responsibility falls to the landlord. Thus, renting an apartment is not only a financial blessing in this case, but also a check off the “things to do” list. Furthermore, whether you buy or rent, an apartment costs less to maintain as touched on before. A house comes along with a compound that costs more money in upkeep. With the extra square footage, this also means you need to shell out more cash when repairs and maintenance are needed. Amenities Apartment complexes, or condominiums, are generally built with numerous facilities such as swimming pools, gyms, laundry facilities, sports courts, etc. Everything (well… almost everything) that you may need can be found in the building. You save money on gym memberships, swimming pool admittance fees, tennis court renting, and the list goes on. Thus, apartment living can prove to be a very convenient living arrangement. Although in theory you can chose to have these elements built into your home, the financial obligations are down-putting. Amenities such as convenience stores are also usually located in closer proximity to apartments. Safety Apartment complexes usually will invest in the overall safety of its own residents. The typical apartment complex usually comes with its own security and safety measures. This means 24-hour security patrols, security cameras and limited access to the apartment by outsiders. Although you can choose to have some of these security features – such as a home alarm and security system – in a landed home, this means more financial investment. Furthermore, closer proximity to neighbors (as in, multiple homes on a single floor) makes it such that if you ever have any safety breaches, help is but a short shout away. Size The proportions and size of an apartment are simply more convenient for many of today’s generations. Whether you’re a young college graduate entering the workforce, or a small family of three, you are generally looking for a place to call home. This space you call home does not need to be large and lavish – especially at today’s price per square footage – it just needs to feel safe and quaint. The smaller size also means easier cleaning and tidying. Nowadays, even the elderly are downgrading (or upgrading in this sense) from large homes to smaller apartments. Community The social implications of living in an apartment are astounding. This remains one of the greatest benefits of living in an apartment: you are in close proximity to potential acquaintances and friends. This means connections and a means of networking are available during your residency. Although its true that a sense of community exists both in rural and suburban areas, it is not a sure thing. The close proximity of residents in apartment living enhances your probability of creating life long connections, not to mention useful networks. Short-term Apartment rentals are a great short-term option for people who have other long-term goals. Buying a home might be your life long dream, but you need to have a roof over your head while you are on the journey of making that dream come true. You can be renting an apartment in parallel to saving up to buy your home. However, you are preparing for the responsibility of owning a home, whether it is working on your credit ratings, saving money, or even mentally preparing yourself, living in an apartment seems to be the best interim option. Savings Living in an apartment can lead you to less burden and responsibility. The financial savings discussed above are also astounding. With these extra savings, you can create an opportune moment to invest into your future, whether it is in stocks, bonds, or even just saving money in a “rainy day” account. You also endure less stress! Whether you are saving money, or you finding some way to start investing, apartment living can be your beginning to a brighter and more stable financial outlook. Less responsibility So, you will save money on rent, and there will be a lack of need to maintain the property. Not only are these financial windfalls, they are stress relievers as well. The more money you can save, and the less you need to do means the less you need to worry about. Homeownership comes with all kinds of issues that can not only drain your pockets but give you headaches. Consider this: that extra money you set aside can be used for a much-needed vacation instead of on more mundane home maintenance such as landscaping or fixing the bad leak in your roof. Accessibility An apartment complex is typically located in a strategic area. This means you will be in close proximity to anything you possibly need. Shopping malls are usually located close by due to the higher density and demographic of possible patrons. So is access to highways and other amenities. So, no matter what you are looking for, there will always be something nearby to suit your needs.
1 Comment
5/5/2022 04:02:10 am
It's fascinating how living in an apartment gives you all the necessary amenities that you could enjoy as a community! My colleague talked about how he wants to avoid getting late for work. I should probably share this with him so he could find a pet friendly apartment for his dog!
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