The Many Benefits of Renting a Luxury Apartment
August 14, 2014
One of the essential things about luxury apartments is the average luxury apartment rent. Most people think that luxury apartments are costly, but this isn’t always the case. You can find cheap luxe places if you know what to look for. What are some important considerations when finding an apartment?
Closeness to a Grocery Store
When living in a high end apartment, the chances are that one of your primary errands will revolve around food shopping. It can be inconvenient if you don’t have a car at hand and you still need to buy food. It’s essential to live as close to a grocery store as possible so you don’t have to worry about getting home late or waking up very early.
How Close Is the Nearest Bus Stop?
When looking for beautiful city apartments, nearness to a bus stop can be essential if you plan to stay in the city center, where public transportation is not exceptionally reliable. If you don’t want to pay for a city taxi or spend too much time looking for a bus stop, it is best to look for apartment buildings for lease close to a bus stop.
How Close Is the Nearest Train Station?
Train stations usually have cheap transportation and sometimes even Wi-Fi. Many people prefer to take trains when moving somewhere new, as they can see it as an excellent way to move about in a new city. It is vital to consider these factors when looking for the best apartment buildings in New York City.
Owning a home is a classic part of the American Dream. However, this dream often comes with a number of unforeseen problems: for example, home prices often fluctuate, putting you at the mercy of the market if you decide to buy or sell. And while a mortgage rate may remain constant, other costs, such as maintenance, insurance and property taxes can increase significantly every year. Moreover, if you are unlucky enough to have an adjustable-rate mortgage, your payments can increase as well. All in all, these factors put a sizable price tag on the American Dream that makes it an unwise choice for many. However, thanks to the number of luxury apartments for rent in many major cities, there is a way to avoid this potential financial pitfall by choosing to invest in loft apartments for rent and other attractive housing options instead.
- Apartments are often convenient and affordable– Apartments and lofts are often a great option for people who are relocating to a new city because they are cheaper and often include certain utilities, such as water and heat. However, even after a new resident has acclimated to their new surroundings, many still choose to live in rentals rather than buying a house of their own because the cost of luxury rentals are too appealing to give up. In Philadelphia, for example, the average rent price in 2013 was $819, providing the average renter with an affordable living space and a number of amenities they likely could not have afforded had they bought a house.
- Apartments and rentals encourage financial security–Luxury apartment rentals are not only more affordable, but they also typically allow a renter to better manage their finances. On average, renters save an average of $560 every month by choosing to rent over buying a home, which gives them more disposable income to invest as they see fit. Additionally, unlike a house, rentals are not depreciating assets: while investing $100 in housing in 1985 would result in a value of $293 today, that same $100 could be worth as much as $1,146 if it had been invested in stocks, nearly four times as much as the housing value.
- Luxury apartments offer superior amenities and services– While homeowners have to invest money in maintenance, repairs and other services, those who rent high quality, professionally managed apartments have easy access to luxury living. Apartment managers handle all maintenance work and repairs, while also providing a high standard of customer care and amenities. And because even luxury loft apartments for rent do not require long term commitments, it is easy for renters to know what to appreciate in terms of price and service, and switch to better opportunities accordingly. And once again, the overall price of renting a luxurious apartment is still more reasonable than owning a home.
The drawbacks of owning a home are numerous, from higher costs of living and depreciating investments to requisite maintenance work and a lack of luxury amenities. In fact, most homeowners do not even receive annual tax benefits for owning a house. Meanwhile, renters have access to luxury living spaces with included maintenance, better financial security, and great service at an affordable price. Take advantage of these benefits today: start searching for loft apartments for rent in your area.