May 11 2018
Which is better for the average renter, an apartment or a house? Are you better off owning a few rooms in a big building or all the rooms of someplace much smaller? Even if you’re looking to buy instead of rent you can still ask this question thanks to condos. Honestly, though, there’s no right answer, and which one is right for you depends on what you consider important and what you want from your home.
Apartments and houses can both have very different rent costs. It depends on things like the building’s age, its location, the condition it’s in, and what kind of renters the owner is trying to attract. As such, renting an apartment can cost more than renting a house even though you’d think the opposite is always true.
Still, you’d be mostly right: on the whole, when you look at apartments and houses that are the same age and in the same neighborhood you’ll pay less for the apartment. Apartments share utility costs and often feature insulated inner walls to keep each apartment separate, plus they have maintenance staff who can quickly handle any broken appliances or water heaters.
Again, between big apartments with several stories and single-story houses, the house doesn’t always have the most square-footage to offer. On the other hand, while apartment complexes usually have shared facilities like pools, playgrounds, and fenced areas for dogs, they don’t give each renter a private lawn like what a house offers. However, on average a house has more room for a large family while apartments offer good sizes for small families and individual renters.
In apartment buildings, your neighbors are just a few steps and maybe a couple floors away. With houses, you have to walk a ways to reach your nearest neighbor and you always have to go outside. Whether that sounds appealing or not depends completely on you: neighbors can be friends you hang out with all the time, or they can be noise complaints waiting to happen.
Apartments also have more options for people looking to start a property management career. Rental houses have managers too, but those managers usually need to do a little of everything. If you’re starting out a property management career, you’re better off looking at an apartment complex where you’ll find entry-level positions with fewer requirements and responsibilities. Also, high-level positions at apartment buildings require you to manage other employees, and that’s a useful skill to learn if you’re aiming for the top with your property management career.