Should I Buy a House Or Rent an Apartment In Greenwood?

In the past several years, common financial wisdom in regards to buying property or renting an apartment in Greenwood has been spun upside down. Owning a house provides for a point of pride and connectivity that you cannot obtain from renting, but it may also be a cause of frustration and serious costs. Renting may bring some added rules, but also creates room for flexibility and fixed expenditures home ownership doesn’t. Here are a handful of notes to know before deciding to purchase a house or rent an apartment in Greenwood.

Money is King

Costs, both initial expense and continuing, can fluctuate considerably between renting an apartment and buying a house. The house buying transaction is teeming with costs and fees that normally have to be paid upfront - in addition to the down payment. There is earnest money, house appraisal and inspections, first-year insurance fees, and other assorted charges - all before your monthly bills even kick in. Not to mention the additional price tag for maintenance and any renovations you may want.

Renting has a noticeably shorter limit for entry. Standard renting upfront costs include a security deposit, initial month’s rent, and other assorted deposits or payments. While some say that money paid for renting is wasted, money paid on a location to reside is never a waste.

Room for You and the Entire Family 

What you need out of your living space may be the determining factor in determining if you should buy a house or rent an apartment in Greenwood. The standard house floor size in the United States is increasing, meaning more room for bedrooms or a nursery. A house will likely have a backyard for kids and pets to move freely and play in.

You can discover apartments in numerous layouts and floorplans. At most complexes, you can get anything from a 1-bedroom to a townhouse, but the units all come in static layouts. Your apartment should have have walking trails and a dog park, and neighbors living on the other side of the wall. Of course, most properties don’t come with amenities like a fully equipped gym or swimming pool.

Maintenance Woes

While the versatility that comes possessing a home is liberating, it does come with a price. Should a pipe burst or furnace break, it is up to you or someone you employ to do the repairs. In a rental, there is a trained maintenance staff that is available 24/7. Not only is having a maintenance professional on-call handy, but it can also save you some serious replacement fees. Repair fees are factored into your renting bill, while any replacements on a home come directly from your bank account.

Flexibility for Your Way Of Living

Your profession and lifestyle can be determining factors in choosing to buy a house or rent an apartment in Greenwood. Selling a house can be a arduous, complex process. If you work a job that requires you to relocate routinely, undergoing the selling process may be more trouble than it is worth. Renting an apartment is a more simplified process that doesn’t involve real estate agents or banks - just the apartment staff and you.

Ready To Begin Seeking For Your Dream Apartment Space?

When you want an apartment in Greenwood, your first choice should be Verge Luxury Flats. We have spacious floorplans, helpful staff, and top-of-the-line amenities. Simply call (317) 751-1744 or click the “schedule a tour button” to find your new home.