Should I Buy A House Or Rent An Apartment In Lafayette?
Money is Central
Costs, both upfront and ongoing, can differ considerably between renting an apartment and buying a house. The home buying transaction is rife with charges that typically have to be paid upfront - in addition to the down payment. There is earnest money, property appraisal and inspections, first-year insurance bills, and other various charges - all before your ongoing bills even start. Not to mention the supplementary costs of maintenance and any remodeling you may want.
Renting has a noticeably shorter limit for entry. Typical renting upfront costs include a security deposit, first month’s rent, and other assorted deposits or fees. While some say that money spent on renting is wasted, money spent on a space to live is never a waste.
Room for Yourself and the Entire Family
What you want out of your living quarters may be the key aspect in deciding if you should buy a house or rent an apartment in Lafayette. The standard house square footage in the US is continually growing, meaning more room for a home gym or a nursery. A house could have grass for kids and pets to move freely and play in.
You can locate apartments in various layouts and floorplans. Inside, you can find anything from a 1-bedroom to a 3-bedroom, but they all come in static layouts. Your apartment should have have walking routes and a dog park, and other families living right next to you. Of course, most homes don’t come with amenities like a stocked gym or swimming pool.
While the freedom that comes with owning a house is incredible, it does come with a price. In the event that a pipe burst or appliance break, it is on you or a handyman you call in to make the repairs. In a complex, there are maintenance professionals that is always just a call away. Not only is having a maintenance team on-call handy, but it may also save you some big repair costs. Repair fees are included in your renting costs, while any replacements on a house come directly out of pocket.
Freedom for Your Way Of Living
Your job and lifestyle can be massive factors in whether to buy a house or rent an apartment in Lafayette. Selling your home can be a lengthy, stressful process. If you work in a position that calls for you to relocate regularly, taking on the selling process could be more trouble than it is worth. Renting an apartment is a more simple process that doesn’t involve real estate agents or money lending - simply the apartment staff and you.