Advantages & disadvantages of an apartment & a house
Today, the real estate sector has come up with an array of housing styles and apartments are one of the major housing styles opted by more number of people. People find it convenient to live in an apartment because they aren’t happy with the cost-effective home choice. On the other hand, although renting a home is not a long-term investment one can stay under a temporary roof while they can get a new home constructed. Considering the living styles offered by both an apartment and a home, here are some facts which should be considered:
and disadvantages of living in an apartment:
Advantages |
Disadvantages |
| Living in an apartment is a convenient choice for people who cannot afford monthly home loan payments. | Many apartments which have a lower monthly rent have very less square footage, which results in a cramped space providing a smaller room to the entire family. |
| Living in an apartment will free the owner from the worries about insurance and home maintenance. | Most of the apartments do not have access to a yard, balcony or any other private, outdoor area. |
| Living in an apartment does not burn a hole in the owner’s pocket as plumbing, electrical and other common household problems will be taken care of by the landlord. | Apartments have close proximity to neighbours and provide less privacy along with maintenance rules provided by the landlord and also the owner should seek permission before updating or adding an extra embellishment in an apartment. |
| The apartment owners needn’t worry about the repairs like pavement, ceiling and others. | Before buying an apartment, one should consider the square footage of each and think about the cost per square foot. |
Advantages and disadvantages of living in a home:
Advantages |
Disadvantages |
| Investing in a home helps a person to save money in the long run. | Owning a home makes the owner responsible for all the expenses like insurance, repairs, maintenance, upgrades and property taxes. |
| Although renting usually does not charge much than buying upfront, the owner will never get back all his/her money which is given to the landlord. | A person owning a home should take home loans and repay the down payments along with other financial responsibilities. |
| Investing in a home will give good returns to the owner. | |
| A person owning a home will be independent to make any alterations to his/her home. | |
| Small homes are much easier to afford than a penthouse apartment. |
