The Benefits Of Apartment Living We’re Excited About

After owning a house for five years, we’ll become apartment renters for a short time.

It’s a temporary move while we wait for our dream house to be built.

However, I’m totally willing to admit there are a few things about apartment living that I’m excited about.

They’ll probably even save us some money and would definitely save us even more money if we stayed longer.

No Lawn Maintenance

I know some people like maintaining their lawns, but I am not one of those people. Part of our rent will pay for the lawn maintenance of the apartment complex.

I’m really excited I won’t have to mow the lawn or fix broken sprinkler heads like I would if we had rented a home.

No Worrying About Major Repairs

Part of renting means I am not responsible for the major systems in a home that can fail. Appliances, air conditioning systems, plumbing systems and roofs are all expensive items that must be maintained and occasionally replaced when you own a home.

While we’re renting, I won’t have to deal with any of these issues. If there are issues at the apartment complex dealing with these systems the landlord will have to take care of them.

Lower Heating And Cooling Costs

We used to live in a three bedroom, two bathroom 1,850 square foot single family home. Now that we’re living on the bottom floor of a 3 story apartment complex in an 1,100 square foot unit, our heating and cooling costs should drop drastically.

I’m totally looking forward to a lower electric bill during the few months we’ll be renting the apartment.

No Property Taxes And Cheaper Insurance

Renting an apartment means we get temporary relief from paying property taxes and homeowner’s insurance bills. It will be nice to no longer pay┬áhundreds of dollars each month into an escrow account to pay for these bills.

Of course, we’ll still be insuring our stuff. We picked up some renters insurance through USAA to cover ourselves from a liability and personal property standpoint while we’re renting. Thankfully it is much, much cheaper than homeowner’s insurance.

We’re Still Excited To Own Our Dream Home

Even with all of the benefits I listed above, we know we wouldn’t be happy in an apartment long-term. Both financially and psychologically, it doesn’t make sense for us to rent an apartment forever. We like having a home that allows us to do what we want.

At the apartment complex we won’t be painting any walls or hanging anything on those walls because we don’t want to pay to repair them when we move out.

We won’t be able to always have a parking spot right outside our front door. We also won’t be earning any equity as we pay our rent.

For some, it makes sense to rent on a long-term basis. Fortunately for us, it makes more sense to own a home than to rent in our local real estate market.

Even with the benefits above, we’ll be counting down the days until our dream home is finished being built and we can move for hopefully the last time for quite a while.

Do you enjoy anything about apartment living? If so, share in the comments below!

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.

Comments

  1. We moved into an apartment 6 months ago and I cannot imagine going back to a house anymore. I love it. The location is perfect. It is quick and easy to clean (or super cheap to pay someone else), no yard maintencance. We have a few gyms, a pool, saunas and spas in our complex, plus BBQ’s a massive games room and conference/event rooms on the top level we can book and use for events, parties, business meetings etc.

    I love it so much.

  2. I like that I get Hudson help but I also like that I have someone to fix things but I hate the neighbors being loud and that the place isn’t insulated that great.

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