When looking at new places to move into, sometimes it can be difficult to decide if an apartment or a house is the better choice. There are several different things you should take into consideration, like how many roommates you want to have, how much you're willing to spend on rent and utilities and whether or not you want to deal with having a yard. In most cases, living in a house offers you much more space than you'd get with an apartment. Sometimes renting a house comes with a yard, which is great if you have a dog. That said, a yard can be a lot of work, which includes mowing the lawn on a regular basis. Also, when you live in a house there tends to be less noise to deal with, which is great if you prefer your home to be a quiet place to study or watch TV. On another note, houses make much better places for parties are much better for parties than cramped apartments are. If you're a social butterfly who likes to entertain, apartments aren't usually the best places to live. Because you don't share a wall with the people living next to you, you can choose to get a little wild and crazy without having to worry so much about it takes a little more before the police being get called or angry neighbors banging on your door and telling you to be quiet. Living in a house with several bedrooms can also translate to spending less of your money paying rent. When the cost of living is split three or four ways, utilities are extremely cheap (although there may not be much room in the fridge for your groceries). Also, when a few people live in the same house dishes tend to pile up and it can be difficult to keep the place tidy. While this can be true for both houses and apartments, since more people tend to live in a house, the messes in them tend to grow a lot faster. When you live in an apartment, sometimes the noise from your neighbors (upstairs, downstairs and on either side) can be a nuisance. However, there will be no yard to take care of and if the apartment is in a secure building you can feel safe knowing that it's difficult for burglars, beggars and bible magazine salesmen to get to your front door. While living in a house with a few roommates cuts down on the cost of utilities, sometimes when you live in an apartment the landlord will pay for everything but the electric bill. If you're sharing a house, it's usually customary for the tenants to pay for other bills, sometimes even including the water bill. Also, sometimes the privacy that comes with living in an apartment by yourself or with only one roommate is well worth a little extra money in the form of rent each month. Essentially, the difference between living in a house or an apartment boils down to two things: price and privacy. If you do enough looking, you can probably find a house or an apartment that will fit all of your needs. There are both houses and apartments that offer you privacy without being too expensive. What you should consider the most is if you can afford the place you're looking at moving into. Next, take a long, hard and objective look at the location. From there, the apartment versus house debate should take care of itself.
FAQs
Is it better to be in a house or apartment? ›
House rentals generally offer more space, privacy, and have an affordable rent price compared to an apartment. Apartments, on the other hand, offer convenience, great amenities, access to on-site staff, and more security than a house.
What is one advantage of renting an apartment or a house? ›Renters have lower utility bills, greater flexibility in where they live, and access to amenities, such as a pool or fitness room, that might otherwise be prohibitively expensive.
What are 3 advantages to owning a home? ›- Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
- Appreciation. Historically, real estate has had a long-term, stable growth in value. ...
- Equity. ...
- Savings. ...
- Predictability. ...
- Freedom. ...
- Stability.
Pros can include better affordability, less maintenance and plenty of amenities. Cons can include a smaller living space, more noise and reduced renovation potential.
What are the benefits of an apartment? ›- Location. Location is the key when it comes to apartments. ...
- Lifestyle. Another upside of the location is the lifestyle apartments frequently offer. ...
- Maintenance. When it comes to an apartment, expect less maintenance than with a house. ...
- Amenities. ...
- Security. ...
- Sustainability. ...
- Affordability.
There is no definitive answer as to whether renting or owning a home is better. The answer depends on your own personal situation—your finances, lifestyle, and personal goals. You need to weigh out the benefits and the costs of each based on your income, savings, and how you live.
Why buying an apartment is better than renting? ›Buying an Apartment
When you own a property, it gives you a sense of security and stability. You can do whatever you want with the apartment; there are no lease agreements, no hassle of rents, and no disturbance of a roommate.
- Your landlord can increase the rent at any time.
- You cannot build equity if you're renting a property. ...
- There are no tax benefits to renting a property.
- You cannot make any changes to your house or your apartment without your landlord's approval.
- Many houses available for rent have a “No Pets” policy.
- Rent payments tend to be lower than a comparable house payment.
- Utility costs may be included in rental fee, creating additional savings.
- Relocation is easier.
- Maintenance and repairs are not your responsibility.
- Credit requirements are less strict.
In the long run, owning a home is a good investment. When you rent, your money goes to your landlord, whereas when you put your money toward a home, you can see a return on your investment over time.
Why do people want to own a house? ›
Historically, the biggest advantage of owning a home is long-term financial security. For decades, home ownership in America represented stability because the housing market almost always went up in value, rewarding homeowners with equity and also a way to borrow money, should the need arise.
What is a disadvantage of owning a house? ›Disadvantages of owning a home
Moving into a home can be costly. A longer commitment will be required vs. renting. Mortgage payments can be higher than rental payments. Property taxes will cost you extra — over and above the expense of your mortgage.
Apartment living is a simpler, lower-stress way of living, providing you with the space to figure out what matters most and the freedom to focus on those important things. Instead of spending your spare time on obligations that come with owning a house, such as fixing up the house, maintenance projects etc.
What are 3 possible disadvantages to living in an apartment? ›- Noisy Neighbors. However, apartment tenants who prefer a quiet setting may be offput by noisy neighbors. ...
- Lack of Parking. Apartments that are built near urban centers may leave tenants with parking issues. ...
- Lack of Yard Space. ...
- Pet Restrictions. ...
- Rules and Regulations.
Apartment living is appealing to people because they can try out different areas instead of being stuck in one location for 30 years. A one-year lease can be just enough of a commitment to determine if you are happy in the building. It's freeing for many people not to feel obligated to or stuck in one location.
Is it smarter to rent or buy an apartment? ›Renting provides much more flexibility. However, if you have returned to the office, either full-time or partially, and assume you'll remain in your current job for a few years, then buying might be wiser. A common rule of thumb is if you plan to stay in the home for five to seven years, then buying is a good option.
Is living in an apartment better than a dorm? ›Student apartments usually have their own rules and guidelines, but are less strict than college dorms. That means you will be able to experience what life will be like outside of college. You will get to fulfill more opportunities and grow more as a person. However, with more freedom comes more responsibility.
What are the benefits of living in an older house? ›Older homes are often built closer to the center of town, making it easy to walk to local shops, schools, and other amenities. And if you happen to find an old house outside the city's center, it could still have amenities within walking distance.