Choosing where to live is a big decision. Whether you are a new college graduate, recently relocated to a new city or are just ready for a change, the decision of where to live is one that should not be taken lightly. The big question is … do you want to live in a house or an apartment?
Home ownership has its advantages, such as tax deductions and complete decorating autonomy, having a yard and privacy. On the other hand, somebody (you) has to take care of that yard and shovel the driveway, as well as pay for home repairs – both major and minor. If you have the skills, then a fixer-upper with plenty of DIY projects awaiting, might work. If you don’t have a green thumb and can barely screw in a lightbulb, an apartment would be a better fit.
While it is assumed that apartments attract a younger crowd, many older people gravitate to the size and low (no) maintenance apartment living offers, especially if they are empty nesters who are ready to downsize. It is not uncommon to find a mix of residents of all ages and ethnicities in today’s apartment complexes.
If you are still on the fence, here are some advantages to apartment living:
- Cost of Living. In most cases, monthly rent for an apartment is less than your typical mortgage. Utilities are also much less as they are consumed in a smaller space. In an apartment, the resident is usually responsible for electricity, gas and internet/cable service, while the complex pays for water and trash removal, but this will vary by property management company. Another benefit is that some apartments have month-to-month of short-term leases, so you are not stuck in a long-term commitment.
- Maintenance. This is a huge advantage when it comes to apartment living. If the toilet backs up or the A/C goes out, it is not your responsibility to have it fixed. It is the property manager’s responsibility, as well as a condition of your lease, to make any necessary repairs to your unit. Most apartment communities have a dedicated maintenance staff which make scheduled repairs that can be performed in a timely manner. Of course, you can attempt some minor repairs on your own, such as using a plunger on a stubborn sink, but if you choose not to, then just pick up the phone or submit a maintenance request online. Bonus: No lawn mowing or snow shoveling.
- Security. Most apartment complexes have some type of security system in place. Some are gated communities that require a passcode and some larger properties even have full-time security guards. Other means of security include locked security doors and cameras. Having neighbors in your building can add an extra layer of protection as you can look out for each other. Depending on your lease, you may be able to add your own personal security system, such as a doorbell/camera.
- Amenities. Today’s apartment complexes offer a variety of amenities to attract residents. The most common include swimming pools, community rooms and fitness centers. You can also find coffee bars, dog parks, valet trash service and housekeeping services. This allows you to save money on a separate gym or pool membership by taking advantage of the facilities offered at your apartment complex.
- Social. Even the most introverted person in the world craves company now and then! Living in apartment comes with built-in neighbors and like everything else, some will suit you while you may prefer to not interact with others. Living in close proximity means that residents look out for each other. Additionally, swimming pools, coffee bars and clubhouses draw people together and more and more apartment communities have planned social events like happy hour or volunteer days. (During safer times, of course.)
As you see, there are many benefits to apartment living versus home ownership. It really boils down to your personal preferences and what you can afford. Apartment living is great if you are just starting out living on your own and want to save money for a down payment on a house. It also is beneficial if you have a job where you travel a lot and don’t want to have to worry about an unattended house. Retirees can enjoy their golden years free from the responsibilities of home ownership.
Live Your Best Life in a Vision Community
At Vision Communities, we are committed to creating the best apartment communities for you and your family. We feature multiple, pet-friendly apartment layouts, in desirable communities such as Clintonville, Westerville, and downtown Columbus. For more information about our communities, contact our team to get started.