The age-old idea of owning a house being a more financially sound option than renting an apartment might not be that true anymore. After the housing market crashed in 2008, more and more people have decided to rent luxury apartments and lofts. Currently, about 35% of Americans rent rather than buy.
Could a luxury apartment be a good financial choice for you, too?
Here are the top four ways that renting a luxury apartment can be a great value:
1. Utilities are included: In a deluxe apartment, your heating and water bills will most likely be built into your monthly rent bill. You can make a set budget each month without having to worry about unexpected increases in your utilities. Plus, you can take a hot shower without worrying about how much heat or water you use.
2. You can get rid of your gym membership: Gym memberships aren’t cheap! For a yearly membership, you could be shelling out more than $100, easily. But when you live in luxury apartments for rent, you can save the money you’d spend on a gym membership for something else. Luxury apartments are equipped with top-notch fitness centers that have updated equipment. And you can use it at no extra cost.
3. There are no unexpected maintenance or repair costs: Luxury apartments to rent are a great option because your development will be staffed with 24/7 onsite repair workers to take care of any repairs or maintenance you may need — at no extra cost. In contrast, you would be responsible for paying a worker to repair your house when owning a home, in addition to buying the repair materials.
4. It’s luxury living at an affordable price: Luxury apartments are just that — luxury. You get all the beautiful interior design, upgraded appliances and spacious living space that a house would offer, but at a fraction of the cost. Owning a home will put you in tens of thousands of dollars of debt as soon as you make your down payment — with luxury apartments, you will be debt-free. More can be found here: www.postrents.com