It’s that time again — time to pack up a move. Moving is a necessary evil it seems. Something we all have to do at one point or another but something we all dread. However, the decision to rent or buy a property has always sparked much debated.
Following the economic and financial crisis of the mid 2000’s, many homeowners were forced to give up their homes, and found renting to be a viable alternative to home ownership. While the economy and housing markets have shown signs of positive growth, consumers aren’t convinced yet.
For many, renting lofts and apartments offer all the convenience of living in or owning a home without all the stress, hassle, and responsibility. While loft apartments for rent are often thought by many to be pricey, they are in fact, surprisingly affordable — especially compared to the cost of home ownership.
Here are three of the top reasons why you should considering luxury apartment rentals.
Flexible leases
Landlords and property management companies understand that tenants’ needs change, and that they may have to relocate for job opportunities or other reasons. As such, many offer flexible leasing options in order to accommodate the needs of their tenants. If you decide to rent a luxury apartment, consider how your job and personal relationships. This will help you decide your lease terms. Leases are typically one year, six months, or even month-to-month.
Price
Let’s talk dollars and cents, or should we say, sense. Loft apartments for rent are considered to be a more affordable option than home ownership. When you rent a loft apartment, your security deposit, first and perhaps last month’s rent depending on your rental terms, are substantially less than putting a down payment on a home. Aside from having a mortgage, home owners are required to pay taxes. Additionally, repairs must be paid for out of pocket. All of this can add up quite quickly, causing financial strain.
Amenities and community features
Imagine having free access to world-class amenities, such as a fully equipped gym, heated pool, sauna, storage centers, safe play areas for children, round the clock security, and conference rooms for business among others. Aside from perhaps celebrity homes, the average American home in the suburbs does not even include a fraction of these amenities. Loft apartments for rent on the other hand, offer these features as a convenience to their guests, making life comfortable and more enjoyable.
In the great rent vs. own debate, it’s easy to see why consumers are choosing renting vs. owning. The home of your dreams just may end up being a luxury loft!