If you’re facing a choice between renting an apartment in a multi-family building or an entire single-family house, you’ve probably compiled a list of pros and cons debating the options. Like, more space in a single-family home or lower rent and utility bills for an apartment.
But if you’re still wondering which one is better for your lifestyle, we put together some details that you may not have considered yet.
What if I’d like to rent a house?
Pros
If you’re considering renting a house, let me describe a perfect scenario: Your budget allows you to rent a single-family house, you work remotely on a regular basis (not only during the lockdown), you have a pet and enjoy spending quiet mornings outside sipping coffee on the private terrace.
If you won’t give up your privacy for being at the center of events, then you’re meant to live in a private building that shares no common walls with the neighbors. Even if you’re planning to rent a single-family home with your close friends, that’s not the same as sharing space with strangers.
Another advantage of renting the whole building to yourself is the opportunity to create an outdoor space. With the landlord’s consent, you can make a dream garden that might add value to the property after the end of your tenancy. In addition, a backyard is a nice alternative to an indoor home office if the weather allows it.
Note: You should always discuss any renovation ideas with your landlord first.
Cons
If you’re about to rent a house, think about all the responsibilities it brings. Though the rental costs depend to a large extent on the location and the condition of the rental, the size of the property is also a determining factor. The bigger the space is, the higher rent is likely to be required. Also, you can expect higher utility bills and maintenance costs. People who rent a single-family home are expected to spend about $400 a month on utilities.
And remember that garden you’re dreaming of? It comes with yard work. It can be a lot to take on if you’ve never maintained a yard before- plus, you need to consider the costs associated with it. While a landlord will usually hire someone to mow the lawn or pull weeds, you’ll need to make sure to find out if it’s included in rent. One other thing to consider is who pays the water bill. If it’s you, watering a lawn could be more expensive than you realized. The water costs for your yard can be calculated with the help of a specific calculator that takes into account its length, width and cost per 1,000 gallons of water. Note that it’ll cost up to $156 per month if you water your lawn once a week during the summer period.
What if I’d like to rent an apartment?
Pros
Apartment rentals are more affordable and usually offer community amenities in the rental price. If you tend to move often, renting an apartment is a way to go. Another benefit is that you can rely on building management when it comes to maintenance or emergency issues. Also, the outdoor space is taken care of, so you don’t have to worry about lawn maintenance techniques or the exterior of the building. Some apartment buildings located close to downtown have beautiful rooftop terraces available for all the residents of the building.
Cons
The cons associated with apartment rentals are a lack of space and a limited number of parking spots. Along with that, the higher-density areas are now considered not a safe place due to the pandemic and higher risks of spreading the coronavirus disease. The limited access to green zones is also one of the cons of renting an apartment, especially for pet-owners.
As the national lockdown caused millions of people to work from home, creating a perfect working environment at home became essential. You might find it uncomfortable to work remotely if the space is too small. But luckily, there’s a way to set up a nice home office even in a compact apartment.
The choice between renting an apartment or a single-family home depends solely on your preferences. But it’s worth considering all the pros and cons to make sure you’re making the right decision.
