There are many misconceptions in regards to city living, such as the high cost of living, long commutes, and small, cramped living spaces. Sure, there are pricey, lavish luxury loft apartments rented for thousands — usually the average American’s yearly salary — by celebrities, however, living in a loft doesn’t have to cost an arm and a leg. In fact, it may be more affordable than you think.
More and more people are redefining their idea of the traditional American dream, and are relocating from the suburbs and into the city. The rent vs. own debate has been ongoing for decades, with many people equating home ownership with success. However, many are opting out of home ownership and instead choosing to live in beautiful luxury rentals.
Why? Because luxury rentals offer all of the convenience and privacy of living in and owning a home without all of the hassle. Additionally, in following the economic and housing market collapse of 2007, many Americans are still leery — and rightfully so — regarding home ownership.
For example, home owners must pay for maintenance and repairs out of pocket. Interest rates may fluctuate, and taxes are an added expense. However, renters do not have to worry about these factors. By signing a lease or rental agreement, tenants are able to better plan their finances and budget, as they can expect to pay a fixed price every month.
Luxury living also offers world class amenities, as well as stylish, spacious interiors, and conveniences such as onsite maintenance staff and security. These services are included in the price of rent, and allow tenants to have peace of mind.
It’s easy to see why so many people are choosing luxury rentals over home ownership. The only questions is, are you ready to move on up? Continue.
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