Which is more economical, homes or apartments?

Question

Im looking for the difference between the cost, upkeep and privacy....

I am a young college student.

Answer 1

It all depends on how long you want to stay in the area, and how much responsibility you want.

I recently purchased and it is a BIG change from renting. When something breaks, you don';t just call the landlord and they take care of it, it is up to you. That's the biggest change.

I love it though. My mortgage is equal to what I was paying in rent, and utilities are the same.

Answer 2

Do you mean buying a house vs. renting an apartment? or renting either of them?

If you mean to rent a house; you have to pay more for utilities usually, plus yard maintanince is your responsibility, plus trash pick up fee (which is usually part of an apartment's rent).

The benifit of owning a house is that you usually get your money back (plus a little, sometimes) when you sell, but it will still cost you more than renting an apartment while you are in it.

So, unless you have a killer deal on a house, renting an apartment will be cheaper, just less private.

Answer 3

Are you asking about buying or renting?

If its buying, when you look at the return on investment plus tax rebates for mortgage interest, a home is your best choice.

If renting, go with an apartment as they are usually all-inclusive in the price.

Answer 4

Apartments.

You don't have to pay for any maintenance beyond basic light-bulb replacement. A house only becomes an investment if you have the skills to take care of it yourself.

Answer 5

you may want to also consider how much you'll have to pay for THERAPY if you get an apartment where the upstairs neighbors are continually doing construction.

Answer 6

if by economical you mean cheaper, then definitely apartments..........if you can find roommates then a home is good

Answer 7

Homes, by far.

Answer 8

homes.

Answer 9

Get a home, please, and I will join you to make you happy