Are you wondering whether a house or an apartment is better to rent?
If you are beginning a property search, you will have to consider which type of accommodation is best for you. The key difference between apartment rentals and house rentals is apartments are generally less expensive. However, the cost factor should not be the only thing you base your decision on.
You will have to consider what amenities come with houses and apartments, how much living space you require and what type of property you feel most at home in before making your decision.
To help you in the decision-making process, the sections below provide some of the advantages and disadvantages of renting apartments and houses. Each one has pros and cons, so think about your circumstances carefully. Once you know what type of rental will suit you best, you can narrow down your property search and find the right home for you.
Advantages of Renting a House
When making the decision as to whether it is better to rent a house or apartment, there are many factors to consider. Ultimately, the decision has to be based on your own circumstances. Here are some advantages of renting a house to help you begin your decision-making process:
- Houses have more space: If you have a family, you will no doubt want to have as much space in your home as you can afford. A house typically offers a lot more square-footage than an apartment, so to allow each member of the family their own space, this will be a good choice. You do not want to be in cramped conditions, which can create bad tempers over time. Having a larger space is also better if you own a lot of possessions, which is common for tenants with and without families. Not only will a spacious house itself be ideal for containing items, you will often have a garage or yard with a house, which gives you more storage options.
- Garages and private parking: You may struggle to find a parking space outside an apartment, whereas houses tend to come with garages or private parking spaces. That means you can park your car as soon as you arrive home from a long day’s work, rather than having to circle the block for an hour as you desperately try to find a parking space.
- Pets: If you have large pets, like dogs and cats, many apartments will not rent to you. Even if you are allowed to have cats and dogs in an apartment, the environment will often not be suitable for them. Larger pets need large spaces to roam freely, which is why a house will be a much better option if you are a pet owner.
- Suburban areas: Generally, houses tend to be found in suburban areas and apartments tend to be located in the hubbub of central areas. If you prefer the quiet of a suburban area with a good neighborhood, renting a house may be your best option. Suburban areas are also much better environments for children. If you have children, a suburban house with a yard or garden will be a perfect place for your children to play. Suburban neighborhoods also tend to have plenty of other children, so your own kids will have friends to play with.
Disadvantages of Renting a House
As with many things, there are also disadvantages to renting a house. Use this list to make sure you are carefully considering the aspect from all angles and perspectives.
This is doubly important if you will be renting a home for your family:
- Houses cost more: One of the main disadvantages of renting a house is it will cost a lot more than an apartment rental. If you are single, or if you are living with a partner but do not have children, an apartment may be a better choice than a house. If you do not utilize all your space, it may be better to save some money and live in an accommodation with less square-footage.
- Bills: Bills for things like electricity can cost a lot more with a house. Having a larger space means there is more space to heat and light.
- Other costs: It is not just utility bills that may be higher with a house rental. You may have lots of other expenses you would not have with an apartment. For instance, you may need to pay for the upkeep of your yard or be responsible for the cost of snow removal if it is not included in your rental contract.
- Lease renewal: One disadvantage of a house rental is there is the possibility your lease will not be renewed. Apartments tend to be rented rather than sold, whereas houses are often sold at times that suit the landlord best. There is no guarantee your landlord will renew the lease, as they may want to put the property on the market at the end of your term. There is always the prospect of the landlord having the house foreclosed upon due to his or her inability to pay the mortgage. When this happens, it can leave you scrambling to find another place to live.
Advantages of Renting an Apartment
As with house rentals, there are pros and cons to renting an apartment too. Do the advantages outweigh the disadvantages? That is up to you to decide, based on your specific circumstances and lifestyle. Here are some of the pluses of renting an apartment:
- Low maintenance: Because apartments have less space than you would normally find with a house rental, your home will require less maintenance. You will not have a yard or garden to look after and common areas will probably be cared for by the apartment building’s association. Living in a smaller space, such as a studio apartment, also means there will be less to clean, which will give you more time for other activities.
- Amenities: Apartment rentals often come with attractive amenities, such as a swimming pool, a club house and a gym, which are usually included in the rental price. Having everything you need on the same site can be a massive benefit. For one thing, it will save you time. If you live in a suburban house, it may significantly longer for you to drive to your local gym or pool and back.
- Services: Not only do apartment buildings have amenities and facilities, they will also often have concierge services, which can help with things like signing for deliveries, and on-call repair services to make sure your broken light or dripping tap is fixed straight away.
- Fixed expenditure: Apartment rentals usually have a set of fixed expenditures each month, so you will not have to dig further into your pockets to pay for unexpected repairs or expenses.
Disadvantages of Renting an Apartment
What are the disadvantages of renting an apartment? It depends on what is most suitable for you. Here are some of the disadvantages most find with renting an apartment:
- A lack of space: Houses are generally a lot larger than apartments. You will find it difficult to discover an apartment with more than two or three bedrooms. Therefore, if you like to have lots of space around you, or if you own many possessions or have a large family, an apartment is probably not for you.
- A lack of privacy: If you value your privacy, an apartment may not be the right choice for you. Living in an apartment building with neighbors, concierges, doormen and the like means you may be forced to interact with people daily. If you like being left alone, you may struggle to live in an apartment building.
- Being considerate: Living in an apartment means you have neighbors on every side of you. Therefore, you will have to be considerate about how loudly you play music or the volume level of your television. Not only will you have to be considerate for your neighbors, you may also find neighbors are inconsiderate toward you. If you like peace and quiet, a house may be the better option.
- Pets: Pets, especially large ones like dogs, are usually not allowed in apartments. Even if you can have a pet in your apartment, your ;living quarters may not offer an adequate amount of space for your pet to roam.