More Americans are discovering the convenience and ease of renting an apartment rather than buying a home. Becoming a home owner is a great responsibility, but it may ultimately be an unnecessary one thanks to luxury apartments for rent. With luxury apartment, residents can customize their living space without having to stay committed to the home for longer than they want. Here are the big reasons why more Americans are choosing to live their lives in luxury free from commitment.
Cheaper Than Buying a Home
There are so many young couples painfully saving for a home. When they finally get enough, they realize that the thousands of dollars paid in down payments doesn’t really stretch as far as they may have anticipated. Prospective home buyers typically have to save up 5-20% of the home’s sale price in cash before they can qualify for a conventional home loan. In addition, homeowner’s insurance can cost an additional $80 per month. Why settle for an over-priced mediocre home when you can live in a luxury apartment for even less? In contrast, landlords typically require a rental deposit that does not usually exceed the amount of one month’s rent — thereby making renting a much cheaper endeavor than buying a home.
Low-Commitment
One of the greatest benefits to renting luxury apartments is the convenience of living free from attachments. Over 45 million people move every year for work, family, school, or just to get away. Since most leases are for 12 months, it is a much smaller commitment than finding a home. Renters do not have to worry about selling their home prior to relocation, making rental properties ideal for those who must frequently move due to a job. Another added benefit to renting a luxury apartment is the lowered cost of renter’s insurance, which averages just $12 per month. If relocation is in your future, consider upgrading to a luxury apartment to get a taste of the good life.
