Renting an Apartment Is Often a Better Choice Than Buying a House

Morgantown apartments

The loft apartments are available in three different floor plans. Apparently they are all similar in price, even though the sizes vary. Upon further inspection you found out that the largest apartment had the worst view. In fact, the windows in the largest floor plans looked straight out to a brick wall. Because Renter A was interested in a better view and a closer proximity to the pool, she rented the smaller of the lofts, willing to pay more for a smaller space. Renter B, because he worked long days and would rarely be at home except to sleep, selected the apartment with the most square footage, not worrying about the unattractive view of the brick wall.
Nearly 40% of households across America are in rental property. And while many have always known that buying the best house is often dependent upon location, more and more people also realize the importance of finding an apartment that has a great location. While some renters may be looking for apartments with locations that have good views, other renters look for places that are conveniently located by public transportation of good school districts.
Because so many variations are available in different rental properties, it is important to have an idea of what you are looking for when you begin your search:
Price. Obviously, one of the most important considerations of selecting any apartment is knowing how much you can afford. Even more important than most other purchases, over extending yourself beyond the budgeted amount is dangerous. Missed lease or rent payments can lead to long term problems.
Location. Do you want to live within 30 minutes of your work? Do you want a top floor apartment so that you do not have noisey neighbors upstairs? The location of your apartment within a complex and the location of the apartment within the city are very important considerations.
Amenities. Often, the price of an apartment is determined by the number of special features that are included. While some complexes may include built in washers and dryers, for example, other locations only offer common laundry room spaces. Access to fitness centers, swimming pools, and covered parking are other extras that vary from one location to another. While you may decide that you can live without access to a weight room, you may not want to stay anywhere without laundry rooms inside apartments.
Renters are a pretty transient group. In fact, 33% of renters move each year. Additionally, statistics indicate that the average American will move 12 times in a lifetime. Are you someone who is looking for a new apartment? If so, make sure that you take careful consideration before you sign your lease or rental agreement.

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