Top 7 Reasons to Rent an Apartment in Lafayette LA

Are you stuck between buying and renting an apartment? You are probably here because you are looking for advantages of renting an apartment over buying one. Well, both options have their own pros and cons but we would better discuss the pros of renting an apartment, as I believe this is a longer list.

1. Flexibility to move-in and move-out – You are not sure of a neighbourhood until you actually live there. Moreover, you might be one of those fickle minded persons like me who want to explore a lot. Renting gives you the flexibility of choosing your neighbourhood and upsizing or downsizing whenever you wish to. Whether it is the clumsy environment, a fight with your roommate, you and your needs have outgrown the smaller available area, you have found a partner to live-in with or you just want to move in alone in a one-bedroom apartment, renting is the best solution.
2. Furnishing – When buying a new house, you would want to furnish it with appliances and furniture that suit the architecture and space. Renting an apartment leaves you carefree about this very important aspect of moving-in. You can select a semi-furnished or fully furnished apartment with furniture and appliances of your wish. Renting leaves you with a number of options. You can choose the one that has all the appliances you needed without actually buying them.
3. Lesser investment – Renting an apartment requires you to deposit a sum of money, usually one month of rent, while signing the lease contract. This amount is called security deposit and it is generally returned to you at the end of your lease contract. However, when you buy an apartment or a house, you need to give the down payment that is usually 20 percent of the total cost of the house. Clearly, renting calls for a lesser investment as compared to buying.
4. Lesser maintenance cost – Getting a leaking roof repaired, plumbing a leaking drainage, getting the apartment pest controlled, fixing a torn wallpaper or repairing an overflowing toilet – everything is the homeowner’s responsibility. Renters do not have to pay a single penny of any of such repairing cost. Tenants only need to inform the leasing office of the persisting problem through a work request.
5. No property tax – Renters do not have to worry and pay for the property tax. It is again the homeowner’s job to pay these taxes.
6. Lower insurance cost – On an average, homeowners pay more than $1000 per year to cover their homes. On the other hand, renters generally spend only up to $200 a year. In addition to it, there are various benefits of renters insurance enjoyed by the renters.
7. Outdoor amenity access – When you rent an apartment, you are not liable to pay the monthly homeowners’ fees. This fee is paid to maintain the common area of the neighbourhood, basic amenities and events. You are free to use the plenty of facilities provided by the apartment communities like fitness centre, pool, garden, etc. You can also enjoy the yearly events organized for the residents to get-together and have a good time.

So, as you can check for yourself, renting an apartment comes with lesser costs and responsibilities and more flexibility and joy. You have lesser worries and more time to relax and focus on your studies, job, family or leisure. Hope this article helped you to decide on renting against buying a home or an apartment.