Pros and Cons of Renting an Apartment

Often the field is always greener on the other side of the fence. My husband and I have wanted to get into a home for the last year and a half. However, the current market has made that dream a risk we are unwilling to take. Realizing we will be in our apartment for some time, I have begun to notice more the pros and cons of renting an apartment. 

Pros of Renting an Apartment

1. You don't have to fix things. In most situations, you are not responsible for repairs. This last winter, our heater stopped working. After contacting the landlord, I did nothing. I didn't have to call a repairman, and I didn't have to pay a bill.
2. You usually don't have to mow it! If you don't like yard work, an apartment is a great option. 
3. You can avoid high levels of debt. There isn't a 30-year loan to pay off. 
4. It is easier to leave on trips. There are fewer responsibilities that tie one down.
5. There is typically less to clean.  I am all for that!
6. Apartments provide a place to save money. If you can fine an apartment that is cheaper, it makes it easier to put aside money for a house
7. You don't need to own items that homeowners need. There is no need for a trimmer, a mower, a shovel, a rake, a refrigerator, a stove, and more. 

Cons of Renting an Apartment

1. Your neighbors will hear you, and you will hear your neighbors. Sadly, this is inevitable. You may hear a baby crying, a video gamer yelling, a couple disagreeing, a pan banging, a washer rocking, and a vacuum going. 
2. It can feel like you are throwing money away. Every month I pay rent, and that money is gone. This money could have gone toward paying a mortgage. 
3. Landlords aren't always there to help. Landlords are wildcards. Some landlords could care less about the apartments they own.  
4. Apartments make it hard to have a garden. I love the outdoors! I love getting my hands dirty. Although some apartments may offer a garden spot, many do not. 
5. Your neighbors will often move. If you like consistency, an apartment won't provide that. Neighbors are always coming and going. 
6. Not a lot of space. Apartments typically offer less square footage than other forms of housing. 
7. A lot of restrictions. Do you want to paint your bathroom pink? Do you want to use 35 nails in your living room? Do you want to throw out the old curtains? Do you want a recreation vehicle parked outside? Sorry, that is prohibited. 
8. Your monthly payment can increase once your contract expires. Recently landlords have been increasing their prices dramatically. I heard of someone who had their rent doubled! 

"Our goal is to help the world make decisions with a list of Pros and Cons. We invite all to add to our lists to help others make the most educated decision possible. We are all in this world together to help each other and learn from what others have learned from their lives journey." - Pros and Cons Team
Written By: Kristen