Though most people dream of owning a home at some point in their lives, that doesn’t mean this dream has to be realized immediately. In fact, for some people in certain life stages, owning a home could actually be more of a liability than an asset. For example, young adults, especially those without children, could benefit greatly from choosing an apartment over a house. To determine what is best for you, see if these perks of apartment living match the needs of your current lifestyle.
Security
Many young adults lead lifestyles that have them arriving home at odd hours of the night, whether it be from an active social life or varying work hours. If you live in your own home and by yourself, this can sometimes be a security risk. However, if you’re living in an apartment, you’ll have the added security of your neighbors to help ensure that your dwelling stays safe while you’re away. Apartment complexes will also often have additional security doors or gates to keep their residents safe at all hours of the day.
Less Space To Clean
If you lead an active lifestyle, the last thing you want to do is spend your time cleaning a large home every weekend during your free time. Fortunately, two-bedroom apartments in your area provide just the right amount of living space without having large unused areas that must be cleaned, as well. This can help you make a good impression when you have friends over, as you’ll be able to get your apartment looking great, even if you only have a few minutes to clean before guests arrive.
No Maintenance
One of the best parts of living in an apartment is that you’re not responsible for any of the maintenance. If you have a leaky faucet, you simply call the office, and by the time you get home from work, it’s likely to be fixed. This leaves you with plenty of extra free time to pursue activities that enrich your life. You also won’t have to worry about the cost of the repairs (unless you did the damage yourself) or trying to learn how to DIY the solution.
Lower Costs
Although a monthly rent payment for a nice apartment may be higher than a mortgage payment, your overall costs in an apartment are likely to be much lower than in a house. For example, renter’s insurance is much less costly than homeowner’s insurance. Plus, many apartment complexes cover certain utilities as part of your rental agreement and offer additional amenities that you might pay extra for if you owned a home (like a fitness center or pool), allowing you to save even more money.
Another great aspect of living in an apartment as a young adult is that it helps prepare you for the future. While you don’t have all the responsibilities of owning a home, you still get a feel for living independently and taking care of your own space. Then, if you do choose to buy a home, you’ll be well-prepared to excel at home ownership.
