Should you rent an apartment or a house? That’s a pretty common question and there are definite advantages to both. Which you choose will depend on your needs for space and privacy. Let’s look at the advantages of both and see which option works best for you.
Renting an Apartment
Let’s start with the advantages of renting an apartment. It can be far cheaper than renting a house especially if you don’t need much space. On top of that apartments can be rented with the utilities included whereas a house rarely is. Apartment complexes may also have some recreational equipment such as gym facilities or a swimming pool.
There are disadvantages to living in an apartment as well. Let’s start with the biggest one…your neighbors. You could live in an apartment for years and have wonderful neighbors or you could live next door to students who want to party six days a week and the noise travels. It can be hit or miss. Neighbors can also mean you lack privacy, everyone can see who comes and goes into your apartment.
Renting a House
There are perks to renting a house chiefly that there is far more space and your neighbors aren’t living on top of you. Houses typically come with some yard space that you can take advantage of, this is great particularly if you have children. You won’t be bumping into neighbors in the hallway and you can do laundry whenever you choose to.
Now for the drawbacks to renting a house over an apartment, the biggest on is the cost. The cost of rent on a house is probably the same or more than a mortgage payment. It may make better financial sense to buy rather than continuing to rent. Houses come with yard maintenance such as shoveling the driveway in the winter and mowing the grass in the summer. It is more likely this responsibility will fall on you not the landlord. The landlord may provide mowers and shovels but expect you to do the work. You are also going to have to pay for utilities yourself and that can add up fairly quickly.
What to Choose
Do you start looking for a house or an apartment for your next rental? That really depends on what you need and the budget. If you want to rent long term you may be better off in an apartment. Ultimately you will have to decide which works for your situation.