Pros and Cons of Renting a House vs Apartment

Buying A Home

Pros and Cons of Renting a House vs Apartment

February 14, 2022

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Debating between renting a house vs an apartment? It can be difficult to find the right answer for your situation. While houses have more bedrooms and space, they also have more expenses. While apartments are more affordable and built close to the city, they also give you less privacy and freedom.

When it comes to deciding to rent a house vs apartment, there really isn’t a right answer. Instead, there are varied financial situations and housing needs that determine what’s right for your unique circumstance.

Let’s take a closer look at the pros and cons of renting a house vs renting an apartment.


Pros and Cons of Renting a House

Most people, if not everyone, imagines themself owning a house one day. Houses give the owner freedom, space, and comfort. However, buying a house is one of the most expensive purchases someone can make, which leads some to rent a house instead. Renting a house isn’t as nice as owning one but there are still benefits.

Pros of Renting a House

1. Privacy

If you treasure your privacy, which most of us do, then living in a house is one of the best options for you. Houses typically have a good amount of space between you and your neighbors, giving you a bit more freedom than an apartment. It is also easier to get your mail delivered in a house rather than in an apartment complex.

2. Space 

When you rent a house, you have a lot more space and total square footage at your disposal. The typical yard a house has gives owners options how they want to utilize it and garages or driveways make parking a lot easier.

3. Purchase Potential

If you really like the house you are renting and your credit is bad or you don’t have a lot saved, then you can make a rent-to-own agreement with the landlord. Not many people know about rent-to-own agreements but they basically allow you to gradually buy the house you are renting.

In a rent-to-own agreement, a percentage of your rent, which may be a little higher, goes to the down payment of the house for a specified period of time. At the end of that period of time, you will have the option to buy the house at the purchase price after it was reduced by your payments over time. These agreements are great for anyone comfortable with where they are but unable to purchase the house because of credit, debt, or low income.

The Cons of Renting a House

1. More Responsibilities

With more space comes more responsibilities. Grass needs to be cut. Driveways need to be shoveled in the winter. A larger surface area needs to be cleaned. There are a lot of chores that come with living in a house, which can be time-consuming. The responsibilities may not be desirable to you if you are a more sedentary person.

2. More Expensive

In a way, renting a house is similar to renting a larger and isolated apartment. There are still the typical expenses that come with a rental however, the expenses like heating and cooling will probably be increased because of the amount you have to use it in a house rather than apartment.

3. Landlord Troubles

Your landlord has almost complete authority over what you can and can’t do in your rented house. They also manage what gets replaced, fixed, or added to the property. Landlords can be completely controlling with their responsibilities or more lenient and relaxed. When renting a house, make sure to investigate the landlord as thoroughly as they investigate you.


The Pros and Cons of Renting an Apartment

There are several compelling arguments why renting an apartment can be a better option for you. Start by looking at some of the benefits of renting an apartment.

Pros of Renting an Apartment

An apartment may be smaller in size and in close vicinity to other people, but it also can be a better option for those with lower income, high debt, or less accessibility to transportation. Here are the pros and cons to renting an apartment.

1. Expenses

Apartments are usually less expensive than houses as are the utilities. However, the utilities are often included into your monthly rent anyways.

While comparing the prices of renting a house vs. an apartment, the apartment is the cheaper option most of the time.

2. Adaptability 

Many apartments are placed in close vicinity to the city or busy areas, which makes them beneficial for anyone limited on transportation. If you live in a place with a lot of traffic, even the smallest distances can make your commute 10x longer. Sometimes the closer you are to your job, the better. Also, if you don’t have a car, then finding an apartment a short walk away from your job will be easier than finding a house.

3. Less Worries About Maintenance

Landlords are the ones responsible for most of the maintenance and repairs in an apartment. This could be seen as a positive or a negative depending on who your landlord is. However, the cost of the repairs will not be on you which is always a positive.

The Cons of Renting an Apartment

1. Nuisances of Apartment Buildings

Sharing walls with other occupants in an apartment complex means you will have to deal with a lot of nuisances like loud noises from pets or parties. Parking and laundry can also be issues in some complexes.

2. Limitations on Apartment Living

Most apartments are governed by the HOA, which means there are several regulations, which you must abide by in the HOA community. Depending on the HOA you are a part of, they could be extremely strict on their rules or lenient. Either way any violation could result in a penalty fee or foreclosure.


Read More: What is the purpose of an HOA?


Many prospective home buyers can become stagnant in their pull between renting or buying. It’s nice to buy a house but you may not have the best credit. You may have lost a lot of your savings or maybe want to experiment living in a house. Whatever your reasoning is, only you can decide what’s best for your scenario.