Are you looking for a new home in the Philadelphia area, but are struggling to decide whether you should rent or own? You definitely aren’t alone. Many Americans are facing that same decision and don’t want to get burned. Below are just a few helpful things to remember when you are making your decision:
1. Renting vs. Buying – One of the main factors in your decision to rent or own will be cost. The good news is that recent studies have shown that by renting lofts and apartments can save you money! In fact, researchers estimate that nearly 20% of house owners would have saved money if they had chosen to rent instead. In another similar report, Harvard University found that ‘in many places, at many times, and for many holding periods during the past 15 years, renting made better financial sense than owning.
2. Apartment Living – Choosing to live in lofts and apartments present tons of benefits to the resident. For starters, renters enjoy the amenities of their apartment without having to take the responsibility for maintenance such as appliance repair or weekly lawn care. Another great benefit is that renters can often find luxury apartments for affordable monthly rates, which lets them enjoy luxury features for a reasonable price.
3. Philadelphia Fun – If you are searching for lofts and apartments in Philadelphia then you have a lot to look forward to. The city is rich with history, architecture, music, and food. You can spend the afternoon admiring the iconic Liberty Bell and then walk a couple blocks to taste the most delicious Philly Cheese-steak in the country. What’s not to love?
As you can probably see by now, renting has huge advantages. Not only can you save money when you decide to rent vs. own, but you can also avoid the stress of maintenance and live in a new luxury apartment . Find an apartment that fits your needs and enjoy!