You might be at a crossroads in your housing decisions. You might be trying to decide whether it's better to buy a condo or to find a one-bedroom apartment for rent. You most likely have heard it's much better to own a home or a condo than to rent, but that's not always the case for many people. For varying reasons, many people prefer to rent an apartment than to buy a home or a condo, and you might be one of them.
Here are some advantages to finding a one-bedroom apartment to rent instead of buying a condo or a home.
You May Move A Lot With Your Work
You might be in an industry in which you move a lot for your work. This could be in the military, sales, or some other type of career in which you tend to move to a different city every few years. When you own a home or a condo, you need to take the time to sell that home and it might not be easy or a very fast sale. This could keep your finances tied up to find a new home in your new city until your condo or home sells.
When you find a one-bedroom apartment to rent you don't have to worry about trying to sell the property if you have been transferred to a new city for work. It's easier to move to a new location. All you have to do is give your notice of however long the landlord requires and find a new apartment in your new city.
The same is true if you happen to be a person who loves to move around the country to see new cities and sites as well.
It's Less Stressful Than Owning
You might think that owning a condo or a home is less stressful than trying to find a one-bedroom apartment for rent. This isn't always the case. In fact, it's usually more stressful to buy a home or a condo than to rent an apartment. There are a lot of costs upfront to buying a condo, and then the maintenance fees, repairs to be done, and any renovations to be completed all fall on your shoulders.
When you rent an apartment, you don't have to worry about making repairs to the unit or the building in general. The landlord hires contractors to complete the work for you or they do the work themselves. They are responsible for the maintenance of the grounds and the building as a whole, and this means no grass cutting or shoveling for you.
Renting can be far less stressful on you in a financial sense too. You can save money on not paying a mortgage plus condo fees, and simply budget for your monthly rent instead.
Renting Can Be More Affordable
In some cities and states, renting is actually more affordable than buying a home or a condo. You can check with your state or your preferred city to see what the sale prices are for houses and then compare them to one-bedroom apartment rentals and you might find that it's more affordable for you to rent the apartment.
If you want a specific neighborhood in some cities, renting may be the best choice. You could live in your desired neighborhood without paying the higher cost for the houses or condos within that area.