It can be pretty challenging to choose between renting or purchasing different housing types you can call your own. In this fight of apartment vs. house, your lifestyle and finances will determine which option is best for you. Do you tend to relocate frequently, or do you want to settle down? Are you planning to invest in property, or do you simply want to get by? You should make a decision you will not regret based on these and other factors. By providing you with some valuable info, this article should make the process a bit easier.
Expenses you can predict and those you cannot
Of course, one of the first factors you need to consider when choosing between a house and an apartment is your financial situation. Apartments are, more often than not, less expensive to rent or purchase. If you are contemplating an international move from a more expensive country, though, you may have a better chance of getting your dream home. For example, suppose you are planning a transfer from KSA to India. In that case, you might be able to get the house you’ve always wanted, even after hiring professional movers to help you relocate.
Your monthly payments can be easily predicted if you were to opt for an apartment. However, they do tend to increase as time passes, while your mortgage will stay the same. As for renting an apartment, you will need to fix the issues you have caused before moving out. Whereas, if you purchase a house, there might be issues or maintenance costs occurring that you might not expect.
The size of your living space
Another concern you might have is the size of your living space. Apartment vs. house, what will give you the space you need? If you were to opt for an apartment, you would get a generally smaller space you cannot expand. However, this is not always a bad thing. You might even prefer cozier spaces! If you opt for a house, you might have to figure out ways to use the spare room to better optimize your life.
The amount of storage might also be an issue for apartment renters or owners, considering there is usually no garage or attic you can use for this. In a house, you can find lots of room for all of your precious items. Additionally, you can have a garage you do not have to pay for, while most apartment complexes come with only a parking spot. Lastly, if you are a proud pet owner, a house will fit your needs better since you will have your own outdoor area your pets can freely run around.
Presence or absence of neighbors
Apartment vs. house – what should you choose if you wish to have your very own peace and quiet? A house. Having an apartment (purchasing or renting) means your serenity relies on your neighbor’s lifestyle. If your neighbors have pets or children running around, if they listen to music loudly or start vacuuming in the odd hours of the night, you might be in for a bad time. However, you may be fortunate enough to have lovely, understanding neighbors.
Additionally, you might be the one with children, pets, and the wish to make noise at inappropriate times. In this case, you should look for a home where you can create as much noise as you like, as long as you don’t go overboard. The sense of community might be lost in the case of a house since many apartment complexes have shared amenities where you can meet and mingle with your fellow neighbors. If this is not something you prioritize, choosing a house is probably a better idea.
To renovate or not to renovate
The ability to renovate will mainly depend on if you are an owner or a renter. If you rent, the option to renovate will be based on your landlord’s permission and the lease. From the get-go, apartments generally do not require much remodeling while houses sometimes do.
Before buying an apartment, you should ask your realtor questions and decide what would need renovating in case you decide to purchase. You will also be able to determine if the price is right compared to how much of your own money you will need to put aside for renovating. As for houses, you will be able to completely renovate the outside and inside of your home! And remodeling your living space according to your wishes and preferences can increase your quality of life.
Access to numerous amenities gym/pool/park
Lastly, your access to amenities might be the factor that will clarify what decision you should make. If you opt for an apartment, you will be greeted with many amenities you can take advantage of. A nice pool for you to enjoy your summer days in, or a gym. The best part about these amenities is that you will not need to put any money aside for them! You will not need to think about maintenance and other things that might arise. On the other hand, if you opt for a house in this war of apartment vs. house, you will have to build and take care of your own amenities, which can be pretty pricey.