Should I Buy A House Or Rent An Apartment In Indianapolis?
Money is Central
Costs, both in-advance and ongoing, can vary wildly between renting an apartment and buying a house. The house buying procedure is rife with expenses that typically have to be paid upfront - in addition to your down payment. There is earnest money, house appraisal and inspections, first-year insurance costs, and other assorted charges - all before your ongoing bills even kick in. That’s not even including the added costs of maintenance and any restorations you may need.
Renting has a considerably shorter limit for entry. Typical renting upfront costs include a security deposit, that month’s rent, and other various deposits or fees. While some say that money paid for renting is wasted, money paid on a space to stay is never a waste.
Room for Yourself and the Entire Family
What you need from your living space may be the determining consideration in determining if you should buy a house or rent an apartment in Indianapolis. The standard house square footage in North America is increasing, meaning more space for an office or an extra bathroom. A home may have a backyard for kids and pets to move freely and play in.
You can discover apartments in numerous layouts and floorplans. For your unit, you can have anything from a 1-bedroom to a 3-bedroom, but the units all come in predefined layouts. Your apartment will likely have walking trails and a dog park, and neighbors living right next to you. Of course, most properties don’t come with amenities like a decked out workout room or swimming pool.
Maintenance Woes
While the freedom that comes with having a house is incredible, it does come with a price. In the event that a pipe burst or air conditioner break, it is on you or someone you hire to conduct the repairs. In an apartment, there is a trained maintenance staff that is always on stand-by. Not only is having a maintenance professional on-call useful, but it will likely also save you some sizable replacement fees. Repair fees are a part of your renting fees, while any fixes on a home come straight from your savings.
Freedom for Your Lifestyle
Your profession and lifestyle can be large factors in deciding to rent an apartment or buy a house in Indianapolis. Selling a house can be a arduous, complex process. If you work in a position that demands you to relocate regularly, undergoing the selling process could be more trouble than it is worth. Renting an apartment is a more simple process that doesn’t require any real estate agents or money lending - only the apartment staff and you.