Sure. Apartments are typically smaller than houses, and you won’t usually get a private pool, jungle gym or yard, but they do have their benefits. And for those looking for a lower stress life, apartment living might just be the best choice.
For starters, as Jaclyn Lambert with HireAHelper notes, the main benefit of apartment living is it simplifies the usual hassles that come with owning or living in a stand-alone house.
“For example, apartments offer lower insurance costs, less work upfront and less maintenance ,” she said.
Lambert references the lower cost of renter’s insurance in comparison to property insurance and the fact most of repairs and other work are the responsibility of the apartment complex.
In addition, apartment tenants often have access to great amenities. While occasionally this just means a basketball court and swimming pool, usually it means perks like a free onsite workout center, a hot tub, onsite dog parks and more. Many individual apartments come with refrigerators and microwaves, saving tenants a lot of money on shopping for and purchasing these items.
Sometimes Wi-Fi or a washer and dryer are even wrapped in the rent.
If any of these features have problems, it is the apartment owner’s responsibility, both financially and with their time, to have them fixed. It also means that yard work, aside from if you have a patio attached to your apartment, belongs to apartment management. For renters, property taxes don’t apply. For homeowners, these taxes typically amount to at least several thousand per year.
Although apartments tend to be smaller, this can also be an advantage, as less space means less room to store unwanted and unneeded clutter. They also tend to cost less and have extra positive qualities such as on-site security.
While you may have to deal with a few noisy neighbors now and then, you also share utilities and other costs.
Apartments also offer the luxury of location. Many times, apartment complexes are located near public transit and closer to major cities. The majority of people cannot afford to purchase or even rent a stand-alone house in these areas, but apartments are more affordable.
Lambert also stresses the freedom living in an apartment offers tenants to explore the area for future housing. If you’ve recently moved to a new city or it just isn’t a buyer’s market, you can live in an apartment and scout out other places you might want to pursue later.
“We believe the benefits of apartment living are especially desirable for those going through life changes,” Lambert said, “such as college, moving in with a significant other, changing jobs, etc.”