House vs. Apartment
House and apartment are places that make us comfortable and secure. Renting an apartment or buying a house has been an important subject when one needs a place to live. However, many people think owning a house is the best. So, when making a decision about where to live, it’s important to examine the positives and negatives of renting an apartment versus owning a house.
First of all, renting an apartment has some important advantages to consider. When people are looking for a short period of time to live, apartments are the best. “For starters, renting is more flexible, if you are moving from one city to another and, it allows a lid on housing expenses” (Clark 24). It is possible to negotiate a lease that fits the amount of time needed or may pay month to month. One of the best perks of apartment living is that someone with bad credit may still renting. Therefore, an advantage of renting an apartment is when the air conditioner, light bulbs, or the hot / cold water does not work properly, so one needs to let know the manager which responsibility is to send someone to fix it. Another advantage is the community amenities such as relaxing mediation garden, dry cleaning, swimming pool and more for the tenants.
Even though renting apartment provide many advantages, there are also some downfalls. When renting an apartment, tenants are obliged to abide by community rules set by the owner, landlord or property manager. The owner can charge a non-refundable for pet. Also, the price could be increased by the landlord at any time, and the rent generally increases after each rental agreement renewed. In addition, there is no privacy with single-family because as sharing the wall with neighbors, they can be overhead, speaking or shouting besides, upstairs or downstairs. For instance, the neighbors can complain about the noise when one cerebrates a party with friends by using a loud music. Less space generally means less storage, so the person might need to pay more for a storage unit or detached garage. And, sometimes no space for packing especially at night or during some weekend when most of the tenants didn’t go to work.
Nevertheless, buying a house it is good choice ever make. Generally, when someone buys a house, that means he or she has a freedom and creative control. There is a large space and storage in houses. The first time, there is a down payment and cope with unexpected homeownership costs. But gradually things get easier because the mortgage won’t increase and over the time the equity is building each month. In addition of that, there is an opportunity to improve his or her credit score because consistent payment shows the responsibility of the borrower. For instance, credit bureau usually gives more weight to a mortgage payment history than to revolving accounts like credit cards. Another advantage is that, homeownership improves community. And, it’s easier to become more involved in the community. Also, it’s possible to be able to deduct the interest on the mortgage and property taxes.
Buying a home is not always the best ideas as everyone things. It’s sometimes difficult situation to handle. Stacey Tisdale claims: “There is no question that homeownership is one of the smartest ways to build generational wealth, but just like all financial decisions, the choice to buy a home should be made within the context of your overall life goals”, (Tisdale 28). Owning a house is challenging because the value of the house may not increase – especially during the first few years. Furthermore, it’s huge responsibilities such as regular home maintenance like fixing toilet door and broken windows glass, repairing air conditioner or the roof, and replacing worn or stained carpeting. A homeowner experienced many difficulties to move. So, he or she is under stress whenever it comes to change his lifestyle.
All in all, the decision comes down to what works best for everyone about renting an apartment or buying a house. Renting offers great flexibility and opportunity for great life changing events, while home ownership offers a chance to put down roots and to invest. However, there are pros and cons on either side, but the final decision is up to the person.