If you enjoy a full life without the worries of making a mortgage payment, you are not alone. Over one million people live in rented homes, apartments, and other properties around the country.
Renting is different for everyone, but the top benefits of renting an apartment over buying a home are affordability and flexibility. If you are looking for a new place to live, here are three reasons why renting is a smart option.
You won’t pay for property maintenance and repairs.
From a flooded bathroom to a broken dishwasher, things happen. So it’s good to know that you’re taken care of—that someone else is responsible for making repairs. For example, at The Pines at Montclair Apartments, we have knowledgeable and friendly staff who are trained and certified to make repairs. When you report that something is broken or in need of attention, our team will schedule a repair, ensuring that your home stays in tip-top shape. That’s much preferable to making a trip to the hardware store, isn’t it?
There’s no need for a down payment.
Moving into a new apartment is not without expenses: There’s your security deposit, application fees, and first and last month’s rent up front. “But even added up those don’t compare to the steep requirement of a down payment and closing costs,” says Laura Mueller, a consumer expert. “And while your monthly rent might be a bit higher than a monthly mortgage cost, you don’t have to be concerned about fronting for things like property taxes and home repairs.”
Your living arrangements are flexible.
Do you enjoy summer nights on the beach? Perhaps you prefer living closer to downtown during the holiday season. The choice is yours when you rent an apartment instead of purchasing a home.
“Renters can live practically anywhere, while homeowners are restricted to areas where they can afford to buy,” says Amanda C. Haury for Investopedia.com. “Although rents can be high in areas where home values are also high, renters can more readily find an affordable monthly payment than home buyers.”
While we aren’t eager to say goodbye at The Pines Apartments, we do want to be sure that you are taken care of wherever you go. That’s why we instated our loyalty bonus: If you move from The Pines to another AMC property or vice versa, we’ll give you $250 to help you hit the ground running.
With a difference in costs, less responsibility, and more freedom, it’s easy to see why more and more people are choosing to rent. At The Pines, we want to make coming home the best part of your day; give us a visit and see what the benefits of renting an apartment can do for you.