Should I Rent An Apartment Or Buy A House In Indianapolis?
Money is Key
Costs, both initial expense and reoccurring, can differ wildly between buying a house and renting an apartment. The home purchasing process is rife with costs and fees that traditionally have to be given upfront - in addition to your down payment. There is earnest money, house appraisal and inspections, first-year insurance fees, and other small charges - all before your ongoing bills even start. Not to mention the additional costs of upkeep and any remodeling you may need.
Renting has a much shorter barrier for entry. Normal renting upfront costs include a security deposit, first month’s rent, and other assorted deposits or fees. While some say that money spent on renting is wasted, money spent on a place to reside is never a loss.
Areas for Yourself and the Entire Family
What you want from your living space may be the critical factor in choosing if you should rent an apartment or buy a house in Indianapolis. The average house size in the United States is increasing, meaning more space for bedrooms or a nursery. A house may have a yard for kids and pets to roam free and play in.
You can find apartments in numerous layouts and floorplans. Inside, you can find anything from a 1-bedroom to a townhouse, but the units all come in static layouts. Your apartment will likely have walking trails and a dog park, and residents living right next to you. Of course, most properties don’t come with amenities like a decked out gym or swimming pool.
All the Bells and Whistles
While the versatility that comes possessing a house is liberating, it does come with a price. In the off chance that a pipe burst or air conditioner break, it is on you or a handyman you hire to make the repairs. In a rental, there are maintenance professionals that is always just a call away. Not only is having a maintenance specialist on-call convenient, but it can also save you some sizable money. Repair expenses are included in your renting costs, while any repairs on a house come straight from your savings.
Freedom and Flexibility for Your Lifestyle
Your career and lifestyle can be massive factors in whether to rent an apartment or buy a house in Indianapolis. Selling a house can be a lengthy, complex process. If you work a job that demands you to relocate routinely, undertaking the selling process will likely be more stressful than it is worth. Renting an apartment is a more simple process that doesn’t involve real estate agents or mortgages - simply the apartment staff and you.