Should I Buy a House Or Rent an Apartment In Westfield?

In the 21st century, traditional fiscal wisdom in relation to buying a house or renting an apartment in Westfield has been spun upside down. Owning a home allows for a point of pride and belonging that you cannot obtain from renting, but it can also be a cause of difficulty and serious costs. Renting may have some constraints, but also provides for adaptability and fixed expenditures home ownership doesn’t. Here are a handful of things to know before deciding to buy a house or rent an apartment in Westfield.

Money is Central

Costs, both initial expense and reoccurring, can vary greatly between buying a house and renting an apartment. The house purchasing process is overflowing with costs and fees that typically have to be given upfront - in addition to the down payment. There are home appraisal and inspections, earnest money, first-year insurance fees, and other small charges - all before your monthly bills even start. Not to mention the supplementary prices of upkeep and any renovations you may desire.

Renting has a much lower barrier for entry. Typical renting upfront expenses include a security deposit, that month’s rent, and other assorted deposits or fees. While some say that money paid for renting is wasted, money spent on a space to reside is never a waste.

Room for You and the Entire Family 

What you want out of your living quarters may be the critical consideration in choosing if you should buy a house or rent an apartment in Westfield. The average house square footage in North America is trending upward, meaning more space for bedrooms or an extra bathroom. A house could have a backyard for kids and pets to move freely and play in.

You can locate apartments in assorted layouts and floorplans. At most complexes, you can get anything from a 1-bedroom to a 3-bedroom, but the units all come in fixed layouts. Your apartment should have have walking paths and a dog park, and other families living on the other side of the wall. Of course, most properties don’t come with amenities like a fully equipped workout room or swimming pool.

Maintenance Woes

While the versatility that comes owning a home is remarkable, it does come with a few strings attached. In the off chance that a pipe burst or appliance break, it is on you or a handyman you call in to do the repairs. In a rental, there is a trained maintenance staff that is available 24/7. Not only is having a maintenance team on-call useful, but it will likely also save you some big repair costs. Repair expenses are factored into your renting costs, while any repairs on a house come directly out of pocket.

Freedom for Your Lifestyle

Your career and lifestyle can be massive factors in choosing to buy a house or rent an apartment in Westfield. Selling your home can be a arduous, complex process. If you work a job that calls for you to relocate frequently, taking on the selling process could be more taxing than it is worth. Renting an apartment is a more simple process that doesn’t require any real estate agents or mortgages - just the apartment staff and you.

Ready To Begin Finding For Your Dream Apartment Space?

When you want an apartment in Westfield, your first choice should be Harmony Apartment Homes. We have roomy floorplans, courteous staff, and top-of-the-line amenities. Simply call (317) 795-0224 or click the “schedule a tour button” to discover your new apartment.