How do you decide between renting a house or an apartment?


Quick Answer

When deciding between renting a home and an apartment, take into account location, amenities and the cost of utilities. Also consider whether the house or apartment includes a rent-to-buy option and whether it can be modified.

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Full Answer

Yards and garages, two common amenities with rental houses, are advantageous for people with large dogs or multiple vehicles. However, many renters prefer the gyms, pools or offices that come with an apartment complex. Renters may also prefer the low utility costs of living in an apartment. Utility costs are a less important factor for properties with thick walls, which also reduce noise pollution.

If you intend to purchase a home eventually, you may prefer to rent a house with a rent-to-buy option. Such options are ideal for people who can't afford mortgage payments or secure financing. In addition, apartment renters may be able to purchase a unit if the apartment complex is transitioning to a condominium complex.

If you want to paint the walls of your home or make other modifications, but can't afford to rent a house, you may be able to make a modification agreement with your landlord. However, most apartment complex landlords want each unit to remain in its original condition.

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