Apartment or House? How modern rentals like CLV Group’s Stoney Creek Towers are changing the decision process

When it comes time to decide whether you are going to buy a house, or rent an apartment, millions of people choose the latter option. After all, living in an apartment complex or rental unit instead of a house has its perks.

The satisfaction that comes from owning a home can sometimes outweigh other considerations. Although there are plenty of reasons to buy a house, there are also several viable reasons for renting an apartment. Here are some reasons to help you decide if apartment living better fits your lifestyle.

Lower Cost

Depending on location and other economic factors, apartment living can be much more cost effective than house living for both bills and rent. Rent is typically less expensive than a home mortgage, and heating and cooling a smaller area will also save money on utility bills.

No Maintenance

One of the downfalls of owning a home is the amount of maintenance it requires, both inside and outside. This can range from minor up-keep like mowing the lawn to major repairs like replacing a roof.

On the flipside, if a problem arises in an apartment rental, residents can call the property manager and experience maintenance free living.

Another perk to choosing apartment life is that weekends can be spent doing leisure activities instead of tending to the yard or making home repairs.

Shared Facilities

Many apartment communities have communal facilities for residents to access and use. A gym, for instance, is sometimes included with the price of rent. Other communal facilities offered by apartments like CLV Group’s Stoney Creek Towers include on-site laundry, outdoor pools, green areas and a 24-hour professional maintenance staff.

Social Aspect

It’s not uncommon for some apartment complexes to have hundreds of units each, which creates a socially driven living environment that can’t be found in stand-alone homes.

This also allows residents to build up a great community atmosphere with their neighbours, forming long-term friendships and a social lifestyle.

Safety

Most apartment complexes have several layers of entry. A main door in the lobby, a hallway door, then the door to your apartment. Some buildings will have a call button, fob entry, or require a keyless entry code to punch in before entering. These added security measures can foster a greater sense of safety.

Proximity to Neighbourhood Amenities

Residents who choose to rent in the city or at the center of town will benefit from the option of having nearby amenities such as restaurants, shopping and nightlife.

If you’re at a crossroads and can’t decide which living arrangement is best, remember, in addition to the perks mentioned above, renting also provides more flexibility. Most leases are yearly, so if your job requires you to move frequently, renting can be a desirable alternative to owning.