Should I Buy an Apartment or a House? The Pros and Cons

The American dream used to be owning a house, two cars, 2.5 kids and a dog. Nowadays the American dream is simply surviving. All of the unnecessary egocentric, materialistic items seem to have taken a backseat to practicality and innovation. Therefore, if you are wondering, Should I buy an apartment or a house? you may want to peruse these pros and cons to decide what will work best for you.

House

Pro – Owning a house gives you lots to enjoy, namely, space. Even the smallest of homes offers elbow room when it comes to land as well as living. Here are a couple of advantages to purchasing a house.

• You do not have neighbors behind each wall.
• There are no elevators to contend with.
• You can play your music and fuck as loud as you want.
• You can personally re-model without having to get permission.
• More storage space is available in an attic, basement and/or garage.
• You can entertain, barbeque, garden and have the kids play outside
• If there is room you can install a pool or purchase a house with one.

Cons – Living in a house also has its downsides. Here are a few to consider:

• You pay much more for heat and electricity due to more space.
• You have to own a car or two plus insurance.
• You are responsible for all maintenance (i.e. mowing the lawn, snow removal, leaks, insulation, etc.)
• Taxes are usually higher and you may have to purchase special insurance like flood coverage.
• You see your neighbors more.
• Safety is limited due to vulnerability on all fronts.

Apartment

Pro – Owning a co-op or condominium is becoming popular as more and more people choose urban over suburban.  These are a couple of pros of apartment living:

• No yard upkeep.
• You pay a maintenance fee so you always have a super on hand to fix things.
• If your apartment is in a city there is no need to own a car.
• Safety is high due to limited access to your space.
• You see your neighbors less and have more privacy.
• Your apartment building could have a pool and gym amenity.
• Everything is usually all on one floor.
• Utilities are less than a house.

Cons – The disadvantages of owning an apartment include;

• Less space and less storage.
• Assessment fees can be implemented at any time for building upkeep.
• You may have to rely on an elevator.
• Noise and smells can permeate walls.
• A flip tax may be added upon re-sale.
• You may have to pay to park your car if you need one.
• Entertaining friends may be tight.

Should I buy an apartment or a house? is a question only you can decide according to your personal needs, wants and desires. Either way owning your own real estate is a great investment.

 

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About the author: Matt Tomas

As a writer Matt enjoys tackling many subjects with impeccable research and creative humor. He also works as a Professional Actor, Licensed Massage Therapist, Licensed Process Server and Professional Drummer.


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