Although society has associated owning a home with the American dream, the reality is that not everyone should own a home. People can look for other business opportunities such as owning a Blow Dry Bar Franchise, restaurants, etc. Some people are better suited to other living situations meaning to sell home fast. There are many positive benefits that apartment leasing provides over home ownership.
Maintenance and Upkeep
Maintaining the property and repairing things when they are broken is one of the major advantages that apartment leases have over home ownership. When something breaks in your apartment or needs serviced, you simply follow the instructions provided to you to submit your issue. Typically, this is completed by calling a phone number or filling out a form online. If you own the home, you are responsible for completing repairs yourself or hiring and paying for someone else to come to your home and complete them for you. This costs money and time, which isn’t required when you live in an apartment.
Safety and Security
Apartment complexes are known for having security to make their complex safe and protect the residents that live there. For some apartments this means security cameras throughout the complex while others even have on-site security guards. While you can install a home security system as a home owner, you have to monitor this yourself and deal with any issues on your own. An apartment complex provides staff that can help you when a safety issue occurs.
Owning a home can be an expensive endeavor. Not only do you have to pay the mortgage each month to cover the cost of purchasing the home, but you also have taxes, homeowner association dues, insurance and upkeep costs. Leasing your apartment simply requires paying your rent and utilities each month.
Most apartment complexes offer a number of amenities for residents. Swimming pools are extremely popular in Phoenix due to the year-round warm temperature. Dog washing stations, walking paths, tennis courts, playgrounds, and fitness centers are just a few of the other amenities you can find through apartment leasing. Most of these amenities are not available in a home without spending money to have them installed.
No Long-Term Commitment
Most home owners take out a 15 or 30 year mortgage on their home. While you may intend to live in the home for many years, life circumstances can quickly change. Although it is possible to put the house on the market and sell it, this can be a lengthy and costly process, especially if you are underwater on you mortgage. Apartment leasing has less stringent time frame requirements. Leases are typically done annually, so you can choose to relocate with relative easy when life circumstances change.