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Real Estate Tips

Should You Rent a House or an Apartment? 5 Ways to Decide

Posted on Sunday, July 9, 2017
Where do you fit - in a house or in an apartment?

What is the better choice for you, a big house with a yard, or a low-maintenance, convenient apartment? If you are stuck in the middle, how do you decide? If you are thinking that you would like to rent a house or rent an apartment and you are feeling indecisive, here's how to make the choice that is best for you and your family.

1. Do You Like Outdoor Space?

Do you love to entertain outdoors? Is gardening one of your favorite hobbies? If you have family members or pets who adore outdoor spaces, you may find that a house with a yard is the best choice for you. An outdoor space or freestanding home is particularly important if you have outdoor-loving pets, because if you have large dogs, it can be almost impossible to find an apartment that will accept them.

In an apartment, you may have communal outdoor space such as a rooftop garden, but the space that you call your own will likely be smaller. You can still garden and entertain outdoors in some apartments, but you will not generally have the same dedicated and private outdoor space as you would in a detached home. If you really dislike yard work or if you would like to downsize your commitment to an outdoor space, an apartment is the ideal space for you.

2. Do You Want to Be in the Middle of Everything?

You can find apartments in the suburbs, far away from the downtown core, but it is hard to find a larger house in the middle of the downtown area. If you are someone who thrives on nightlife or wants to walk to a job downtown, then an apartment could be the best fit for you. If you would prefer to be far away from honking horns and you work from home or do not mind a commute, then a house is a better option.

3. Can You Share?

Some apartments come with amenities such as a washer and dryer in the suite, while in others there is a shared laundry area. Others have a lot of communal amenities such as a pool, a gym, or a workshop. If you would like to have your own private amenities, then a house could be your best option. If you do not mind sharing the space, then an apartment allows you to have those amenities without taking on the entire workload and cost of caring for them.

Apartments are often conveniently located near amenities or in the downtown core.

4. Can You Live Small?

An apartment does not have to be tiny, but generally speaking, the square footage that you get with an apartment will be smaller than that of a house. Are you comfortable living in a smaller space? For some people, apartment living is an opportunity to downsize or live simply. For others, it could feel cramped.

5. What Are the Costs?

Living in a house and living in an apartment have different costs. If you choose to rent a house, your landlord will cover some of the larger maintenance expenses, but you will still need to cover the cost of utilities. In some cases, apartments may feature lower utility bills than detached homes, saving you more on your bottom line. Are you ready to take on the costs connected with renting a larger, freestanding home that could be less energy efficient than a compact apartment?

At Open for Homes, we are excited about helping you find the home that is the best fit for your family. Whether you would like to rent an apartment or rent a house, take a look at the blog at Open For Homes for guidance that will help you with your future home choices.