There has always been a debate on whether or not renting an apartment is a waste of money. This is typically because you are making monthly payments on rent that isn’t going towards owning the property. But there are many different perks to renting an apartment versus owning a home!
Keep on reading for a list of reasons why renting apartments in Chico California is a good decision!
Rent for an apartment is typically lower than a mortgage payment on a house. Apartment dwellers don’t have to worry about property tax and other expenses that are required when owning a house. So if money is a little tight and you are looking for a more affordable option than start looking at apartments in Chico California.
No matter if you move into an apartment or are purchasing a house, you'll have to give some kind of deposit. For apartments, a security deposit is always required. Usually worth at least one months rent (sometimes two months), the security deposit allows the property manager to ensure that they can cover any damage done to the apartment once you move out.
For homes, there are two different ways you can give money: earnest money deposit and down payment. According to The Eric Steward Group (a real estate company back east), "[Earnest money deposit] is money is offered to the home seller to convince them you are committed to purchasing their home. A down payment is the amount of money the buyer must produce for the lender to approve the loan on the home. In its simplest form, the earnest money deposit is a promise to the home seller, and a down payment is a promise to the lender."
You can probably imagine that a EMD and down payment are significantly more than just a few months rent. Lower deposits (such as apartments) make the cost of moving less, which in turn puts less of a strain on you.
Apartments are known for having great amenities that normally save you money. If you live in an apartment complex that has a gym, then you can cancel your fancy and expensive gym membership. Some common amenities that you'll find at apartments in Chico are a pool, spa, jacuzzi, pool table, tennis court, etc. Having access to these amenities is definitely a perk that you might not get if you purchased a home.
When you have a backed up toilet or a broken air conditioner, life can seem a little stressful. If you own your home, the expense to get these maintenance problems fixed comes out of your pocket. But if you live in an apartment, you don’t have to pay for it. Simply call your apartment manager and they take care of the rest. Boom! Problem solved.
Lawn maintenance is important, but you have to be careful on not using too much water. Homeowners now have to be mindful of when and how much they water their lawns with the water restrictions in California. Not to mention the amount of time it takes to mow and tend weeds on luscious grass, leaving most homeowners to use their weekends to keep their lawns looking good.
Apartment dwellers don't have to worry about those types of things! They are able to to enjoy a picnic on the grass without having to worry about mowing it, watering it, or canceling weekend plans to tend to it.
If you move into an apartment that you aren’t too fond of, it is easy for you to move at the end of your lease. Homeowners would have a more difficult time moving out of their homes. Leases can vary from month-to-month or yearly. Living in apartments gives you the freedom of knowing that you aren’t tied down to living under one roof.
Living in apartments in Chico California can give you the feeling of loving where you live but without the extra responsibilities and expenses.
Ready to start your search today? We have beautiful complexes that you can view via photos, video tours or schedule a tour with a manager. Here at HignellRentals.com we make rental searching and living easier!