Renting a Home vs. Apartment: Which Is Right for Me? [2024]
One of the main things you’ll have to consider when looking for your next place to call home is whether you’re better off renting a house vs. an apartment. Though the two are similar in many ways, there are equally as many differences of which to be aware.
Feeling a bit uncertain about whether an apartment or house is right for you? Come dive in as we explore the advantages and disadvantages of each option so you can make a more informed decision!
Renting an Apartment vs. House: A Detailed Comparison
Renting an Apartment vs. House
Explore the key differences between renting an apartment and a house to find the best fit for your lifestyle and budget.
- Security: Apartments often have enhanced security features like gated access, surveillance cameras, and security personnel.
- Amenities: Many offer amenities such as gyms, pools, and community areas.
- Convenience: Located in urban areas, they provide a closeness to workplaces, shopping, and entertainment.
- Maintenance: On-site staff handle repairs and maintenance, reducing personal responsibility.
- Cost: Generally, apartments can be more budget-friendly for individuals or small families, especially in city centers.
Keep in mind, depending on the type of rental you find, there can be additional unique characteristics that set the two apart.
The Pros and Cons of Renting an Apartment
When you rent an apartment, you’ll likely get access to the convenience of on-site staff, such as a maintenance crew and security, as well as on-site amenities, such as pools, gyms, laundry rooms, etc.
The Pros of Renting an Apartment
Expenses
If you aren’t planning on living with many people, you can save a ton of money by choosing an apartment. Not only are you paying for a smaller space, but compared to a house, utilities may be cheaper, which can play a significant role in your overall rent.
On-Site Amenities
Many apartment buildings offer on-site amenities, including pools, outdoor areas, working stations, pet areas, gyms, covered parking, and wireless internet. Your particular apartment may even have an in-unit washer and dryer and a balcony for personal outdoor space.
Walkability
Compared to houses, most apartment complexes are within walking distance of neighborhood amenities, such as convenience stores, bars, shops, and more. You may not have to take your car to get around to most places, which can make living there all the more convenient.
Flexibility
Living in an apartment provides greater flexibility, especially if your work requires you to move around a lot. Moving in and out of apartments is easier than moving in and out of homes, especially if you’re leasing an apartment that’s fully furnished.
Reduced Maintenance
One of the major benefits of apartment living is that it’s far easier to upkeep. Most apartment complexes have staff on-site that take care of the common areas.
The Cons of Renting an Apartment
Noise
When you live in an apartment, you live in close proximity to others, meaning noise is unavoidable. You won’t know what kind of neighbors you’ll get stuck next to either, and depending on the construction and insulation of the apartment, noise can get quite loud.
Check out our tips for how to deal with noisy neighbors!
Minor Inconveniences
Beyond noise, other problems can present themselves in apartments as well. Maybe you live next to someone who cooks foul-smelling food. Maybe the person above you has a leak that they aren’t attending to, and it’s beginning to seep through your bedroom ceiling.
It can be difficult for some people to not feel in control of their living situation, and with apartments, it’s something you have to deal with.
Lack of Space
While you might enjoy the cost savings you get with less space, it can also make living feel a bit claustrophobic, especially if you own a lot of stuff. You might need to get rid of your bulky furniture if your apartment doesn’t have room to host it.
We recommend checking out these 10 organizations that will pick up your furniture for free instead of throwing your stuff out on the curb!
Parking
As someone who has lived in several houses and apartments in Los Angeles, one of the major frustrations of living in an apartment is parking. If your apartment doesn’t have designated parking and you live in a busy area, you might have to park quite far from your place each time you come home.
Even if you have dedicated parking, having to haul groceries up to your unit from the garage can be a hassle.
Limitations
As an apartment renter, you may be more restricted in your living situation. Your landlord may not allow you to paint the walls or keep pets. It’s always key to talk to your prospective landlord about restrictions before committing to a rental.
The Pros and Cons of Renting a House
As with apartments, there are many advantages and disadvantages of renting houses.
The Pros of Renting a House
Expenses
If you’re renting a home with a lot of people, it can actually end up being less expensive. Typically, the more roommates, the less everyone will need to pay. If you like the idea of living with a larger group of people, you may even consider co-living!
Space
Most often, a house will provide you with more space than an apartment. Generally, you’ll have more available rooms, perfect for having guests stay the night or building a home office. Additionally, you may also have a private outdoor area that you can use for summer BBQs or parties.
A larger home will likely have a garage as well, giving you space to park your vehicle at night.
Privacy
One of the greatest advantages of renting a house is privacy. You’ll physically be further away from your neighbors than in an apartment, so you don’t have to deal with that guy who likes to have band practice upstairs every Tuesday night.
Personal Freedom
On the flip side, since you don’t have to worry as much about disturbing your neighbors, you have more flexibility to participate in activities that would otherwise be a nuisance in an apartment.
Maybe you’ve been looking to take up electric guitar, or maybe you like to have your rowdy friends over for game nights on the weekdays. Having a space that isn’t adjacent to the neighbors makes these activities more viable.
Family-Oriented
Another one of the main benefits of renting a home is that it’s great for families. You’ll have more room for your kids to spread out and play without disturbing the neighbors. If you have a pet, you’ll likely have a yard for them to roam as well!
The Cons of Renting a House
More Upkeep
If you lease a house, you’ll likely have more chores to attend to. Beyond the additional indoor space, you may also have to attend to the yard if your landlord doesn’t provide a maintenance crew. If you live in a snowy climate, prepare to shovel the walkway each day.
Cost
When renting a house alone or with a small group of fewer than three people, it's common to face higher expenses compared to living in an apartment. This cost difference is due to several factors. For exapmple, houses typically offer more space, which leads to higher rent and utility costs.
Convenience
When you’re looking to rent a place, location will be a significant factor. Most homes for rent won’t be close to entertainment centers but rather in suburbia, often further away from shops, restaurants, and other activities.
How to Find Houses for Rent: 9 Expert Tips
Finding a house for rent can be a challenging but rewarding process. Here are ten expert tips from the the Apartment List team to help you in your search:
- Determine Your Budget: Before you start looking, know how much you can afford to spend on rent. Experts often recommend that your rent should not exceed 30% of your monthly income.
- Identify Your Needs and Preferences: Make a list of what you need in a rental home, like the number of bedrooms, bathrooms, and any special features like a pet-friendly policy or accessibility for disabilities.
- Research Neighborhoods: Look for areas that match your lifestyle and needs. Consider factors like safety, proximity to work or school, public transportation, and local amenities like parks, shops, and restaurants.
- Set Up Alerts: Many websites allow you to set up alerts for new listings that match your criteria. This can give you a head start on new opportunities.
- Prepare Documentation: Have your important documents ready. This typically includes identification, proof of income, rental history, references, and possibly a credit report.
- Tour the Property Thoroughly: When you view a property, check everything carefully during your tour.
- Understand the Lease Agreement: Read the lease agreement carefully before signing. Pay attention to terms regarding the deposit, rent increases, lease renewal, and termination conditions.
- Negotiate Terms: Don’t be afraid to negotiate the rent, lease terms, or amenities with the landlord.
- Plan for the Future: Consider how long you plan to stay and whether the home can accommodate any changes in your life during that time.
Where to Find Homes to Rent
Don’t worry! It’s a lot easier to find homes to rent than you would think. There are many online platforms available to help you find a home.
The list below details some of the best online platforms to help you find a home to rent.
- Apartment List: Though the name may be misleading, Apartment List is a rental platform that matches renters with the homes that best fit their needs whether it’s a home or an apartment. You can find homes for rent on our site.
- Rentals.com: This platform offers rental from all over, you’ll be able to find homes for rent.
- Zillow: Zillow is big in the home buying market, but they also have a selection of homes for rent.
- FB Marketplace: The social media platform made a major move when it launched Marketplace. Now, you’ll find homes for rent listed among other rentals near you.
- Craigslist: As the quintessential classifieds site, Craigslist offers users the chance to find whatever their heart desires, be it a blender or a home for rent. Just be careful to avoid rental fraud.
When’s the Best Time to Rent An Apartment?
The best time to rent an apartment depends on what you’re looking for.
If you want to save on your apartment, try renting during the winter months when rent prices and competition are generally lower. As a bonus, you shouldn’t have too much trouble finding a moving company, as there aren’t a ton of people moving during the winter.
If you want to choose from a wider selection of apartments, you’ll have to rent during the summer months when the moving season reaches its peak.
Overall, seasonality in the rental industry is pretty predictable, so it’s not hard to tweak your strategy to get the most out of your apartment hunt.
Which Is Better for Me, Renting a Home or Apartment?
Whether a home or an apartment is the better choice for you depends on your needs. On a fundamental level:
- Renting a home is a great option for those looking for extra space, suburban living, and for those who plan to purchase a home in the near future.
- Renting an apartment is a great option for those who want to live within the heart of a metropolitan area, don’t want too many responsibilities when renting, and want to choose from a variety of amenities.
Regardless of the option you choose, it’s crucial to start with your preferences and work from there. Take our personalized quiz to help you get started on your apartment hunt and land your dream home.
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