There is no right or wrong answer when choosing between renting a house vs. renting an apartment. If you’re new to renting, you’re trying to access the benefits and drawbacks right now. It’s also obvious that you’ve been reading articles, and your family is, of course, offering their expert opinion – which may or may not be correct! As a Realtor, I am going to give you enough information to help you make the right choice.
“What’s the difference between a house and an apartment?” you might question. “Should I rent a house?” or “Is renting a house or an apartment cheaper?” Well, we’re here to assist! The decision to rent a house or an apartment, I always advise, is based on your financial circumstances and the features you desire in a home. Before you sign a lease, read this guide to be sure you know what you’re accepting.
The Benefits and Drawbacks of Renting a House vs. an Apartment
To help you make a decision, I have made a summary of some of the advantages and disadvantages of renting a house vs. an apartment. This is an excellent place to begin your home search – and you don’t even have to get off the sofa!
Renting a House vs. an Apartment: Benefits and Drawbacks Renting a House
Because everyone’s cases are unique, there is no one-size-fits-all answer to the dilemma of whether to rent a house or an apartment. Hopefully, these advantages and disadvantages I have listed will help you make a more informed decision. After all, no one wants to rent a house only to discover later that they should have rented an apartment instead.
Both have pros and cons, without a question. I always encourage my clients to weigh the pros and cons before signing a lease. Clients who have heeded my advice are always grateful for my advice as it not only saves them costs but it also allows them to make informed choices.
Advantages of Renting a House
Let’s take a look at why you should rent a house and not an apartment.
#1. Privacy
f you value your privacy, a house will provide you with more of it than an apartment. The grander physical space between you and your neighbors will improve your living conditions.
I know apartments have thinner walls, which means you will have to deal with noisy neighbors above and below you. Having things delivered to your house is also more secure than having them delivered to an apartment building.
When deciding between buying an apartment and a house, a ton of individuals encounter this difficulty. You won’t have instant control over what your neighbors do if you live in an apartment. It is not uncommon to be forced to live with a dreadful neighbor.
Consider the individual who lives above you and has a son who likes to play his drums at 11 p.m. You’re probably not planning on having a good time. As someone who has heard this complaint for a long time, I can assure you that it is not something fun to deal with over time.
#2. More Space
Choosing a house over an apartment will provide you with more space. You’ll probably have more overall area and rooms to use. This is usually the reason most of my clients prefer a house to an apartment. This allows you to host visitors or relatives for a night or two while still allowing you to keep all of your belongings intact. Another valuable perk is the incorporation of some outdoor areas for your personal use.
If you have a yard, outdoor activities will be a lot easier, plus having a BBQ on a beautiful summer evening will be impossible unless you have your own outdoor space. There’s also a chance you’ll have parking and a garage.
#3. Hobbies
When you live in a house, you don’t have to worry about disturbing your neighbors. You will be able to participate in your leisure activities and hobbies with more ease. For instance, it can be tough to practice a musical instrument in an apartment without irritating your neighbors. Renting a house makes a lot more sense if you are active and enjoy playing sports in the backyard.
#4. Family Living
A larger house will provide more space for a growing family. As a parent, you won’t have to worry as much about your children racing by a neighbor’s front door and causing a disturbance. Your children can play in your yard, and youngsters in the suburbs are generally safer. When I see families looking for a place to live, I always advise that they rent a house. It is more convenient for families to live in a house than in an apartment.
#5. Potential to Purchase
One of the major benefits of renting a house is that if you enjoy it, you might be able to persuade the owner to agree to a rent-to-own arrangement. A rent-to-own contract may be ideal for you if you want to buy a property in the future but love the one you’re renting now.
A rent-to-own property provides the benefit of a percentage of the rent going toward the property’s future buying price. However, the disadvantage of renting an apartment is that there is no option to own it. Renting a house allows you to become a homeowner sooner.
#6. Possibility of Sub-Leasing a Room
If your landlord permits it, you could consider renting a room on the property. Renting a room is an excellent way to have someone contribute to your monthly cost. However, you should not do so unless you are completely confident in the individual you are renting to. It should be a close relative or acquaintance.
The Drawbacks of a House Rental
Here are some reasons why renting a house might not be a good idea.
#1. More Chores
With more space and rooms, there will be more things to keep up with. There may be grass to mow and a yard to maintain tidy if you have outdoor space. You will almost certainly be responsible for plowing the driveway and shoveling the sidewalk if you rent a house, especially in a cold-weather location.
This may not be a task that appeals to you if you are older.
#2. Convenience
One element to consider while renting a house or apartment is the location. You are less likely to find a home close to the city’s entertainment district. Instead, most dwellings are in the suburbs, a long drive from shopping malls, restaurants, and most other conveniences. I would not encourage anyone who likes to live in the city to rent a house.
#3. Landlords
When renting a house, you may find that you have more issues with your landlord. The owner is more inclined to rent out the property and has little experience dealing with tenants. This could lead to squabbles about little issues that should not be a concern. So when renting a home, it’s a good idea to investigate the landlord as thoroughly as they will investigate you.
#4. More Expensive
In general, renting a house is more expensive than renting an apartment. This is because houses are usually bigger. They come with more amenities like a yard, parking space, etc. Of course, if you’re renting in a city’s high-rent district, there are some exceptions. The additional upkeep expenditures of renting a house are more obvious, as previously stated.
Renting a House vs. an Apartment: The Advantages and Disadvantages of Renting an Apartment
There are several compelling reasons why renting an apartment can be a better option for you. Take a look at some of the benefits of renting an apartment.
Advantages of Renting an Apartment
Let’s take a look at why you should rent an apartment.
#1. Expenses
An apartment is less expensive than a house. Not only will the rent be lower, but you will also be paying for less space in most cases. You’ll be able to save money on utilities, which are often included in your monthly rent anyhow. When comparing the prices of renting a house vs. an apartment, the apartment wins the vast majority of the time.
#2. Walkability
Apartment complexes are typically closer to entertainment and convenience businesses. Most of the places you need to go are likely just a short walk away. Most young adults go for apartments because of this since they typically would want to live within the city.
#3. Flexibility
When I have a client who moves around a lot, I encourage them to rent an apartment rather than a house Apartment living allows you to move around more easily when you need to. Also, you’re more likely to discover a completely furnished apartment, which will save you money and time in the long run.
Meanwhile, when looking for an apartment to rent, landlords will frequently state whether or not their units are equipped.
#4. Amenities
Newer apartment complexes may provide valuable features that you would not otherwise have access to. On-site amenities could include a gym, covered parking, and wireless internet. An in-unit washing and dryer, as well as a dishwasher and a balcony, may be included in the apartment.
#5. Less Upkeep
Let’s face it, renting an apartment is a lot easier to keep up with. The majority of the work will be completed for you. Sure, you’ll have to maintain your space clean and tidy, but that’s all there is to it.
These are the basic amenities that most people find enticing while looking for an apartment to rent.
The Drawbacks of Apartment Rentals
The following are some of the reasons why renting an apartment may not be the best option for you.
#1. Nuisances
If you live close to your neighbors, you will be bothered by noises more than you would like. You may also have to deal with insects and unpleasant odors. Other issues with apartment living include parking issues, leaking plumbing, and not having access to an outdoor clothesline.
Furthermore, can you picture dealing with a renter above you who has a burst pipe, causing flood damage to your property? While this may happen in a house as well, you would be in perfect control of resolving the issue right away. One of the most significant disadvantages of renting an apartment is the lack of control over what others do.
#2. Getting a Space
Although a lack of space can save you money, it can also make things difficult when it comes to finding place for all of your belongings. Because you don’t have enough space in your apartment, you may have to get rid of some of your furniture or appliances.
#3. Restrictions
Any improvements you want to make to the flat are more likely to be restricted. In an apartment, you may be less likely to be allowed to retain your pets than in a house rental. So, when looking for an apartment to rent, it’s usually a good idea to double-check any rules and restrictions.
#4. Parking
If you don’t have a reserved parking spot and reside near the city center, it can be tough to get a parking spot.
Renting a House vs. an Apartment: Verdict
In the end, the following will help you make a decision on whether to rent an apartment or a house;
Price
If you want to rent an apartment, you should:
Keep a close eye on your finances. Apart from the financial savings afforded by the overall difference in square footage between the two, renting an apartment means avoiding the costs of heating and cooling a larger place. Lawn care may not be included in your rental agreement, which will add to your costs.
If you want to rent a house, you should:
Possess the financial means to do so, and you have pressing needs that necessitate a larger place. Family is one such requirement. In their homes, a growing number of Gen X buyers have adult children and their own parents. This necessitates the extra room provided by a house, as well as the yard and privacy.
Reliability
If you want to rent an apartment, you should:
Understand that time is limited, so any maintenance that goes beyond the bare necessary would be problematic. A house has more moving components than an apartment, regardless of what your landlord is accountable for versus what you are responsible for. As a result, you, the tenant, will have to do more upkeep. To guarantee that nothing breaks down, you may need to perform some basic maintenance. Cleaning refrigerator coils and cleaning or changing heating and air filters may be required.
If you want to rent a house, you would be:
Unconcerned about the maintenance requirements. You could even be one of those people who enjoys doing household chores. According to several surveys, 62 percent of homeowners graded themselves an A or B in terms of home maintenance. (Only about 1% of people received an F.) It shouldn’t give you any pause if you’re an “A” student when it comes to home maintenance.
Adaptability
If you want to rent an apartment, you should:
Place a premium on agility. You’ll need less time to gather all of your possessions if a new employment chance arises or a spouse receives a job move three states away. In this way, a flaw that apartments have in the apartment vs. house debate – a lack of storage space — becomes a strength.
If you want to rent a house, you should:
Enjoy flexing your creative muscles. When you rent a house, landlords are more likely to let you repaint, alter light fixtures, and make other little changes to make it feel more like your own. It’s a level of freedom that most apartment dwellers don’t have.
Conveniences
If you want to rent an apartment, you should:
Enjoy going for walks. The trend is undeniable: people prefer to live in walkable areas. People want to be able to stroll to neighborhood businesses, community facilities, and, ideally, their places of employment. Apartment living also comes with additional perks, such as on-site gyms. Enclosed workstations, culinary lessons, and even bicycle repair stations may be available to those who live in luxury apartments.
If you want to rent a house, you should:
Be free to bring your own amenities.
Do you already have fitness gear? Then putting up an on-site gym is a piece of cake.
Do you find yourself doing a lot of laundries? Few apartment buildings can match the convenience of having washing and dryer on hand.
Are you a huge fan of internet shopping? Then you won’t mind not being close to shops because the post office delivers everywhere.
And what about the amenities that only a house can provide that few apartments can? Privacy. This amenity may tip the scales in favor of a house in a house vs. apartment comparison, depending on your sensitivity to noise (or noisy neighbors).
