Renting an apartment offers a variety of benefits that you may not realize you get when you move into an apartment community like Fox Run. It’s very possible the only experience with apartments you’ve had in the past is in a small, old apartment building where the amenities are few, and the benefits run thin. Apartment complexes like Fox Run offer a wealth of amenities, as well as some pretty interesting benefits over home ownership.
Here are just a few of the many reasons you should consider living in an apartment home in Federal Way.
Apartment Living is Easy
When you live in an apartment, the property manager arranges for things like regular maintenance, gardening, and emergency maintenance when needed. As a home owner, you must cover all the maintenance needs of your house, as well as incur the cost of emergencies like a broken pipe or a roof issue that occurred after a freak windstorm.
Additionally, moving out of an apartment and into another residence – whether it’s a single-family home you’ve just purchased, a new condo, or another apartment – is pretty easy. You usually don’t have to juggle any complex arrangements for the timing of your departure from one residence to another.
For example, you don’t have to worry about selling your current home so that you can buy another home elsewhere. Imagine that you receive an offer for a job in a different town, and you only have a few months to move. If the market isn’t in great shape, you might be in a little trouble as far as selling your home is concerned and getting everything underway.
Apartment Living is Less Expensive
While there is some evidence to indicate you can obtain a mortgage for around the same cost as an apartment rental, there are many factors to consider above and beyond your mortgage payment or the rental payment. For example, you might have renter’s insurance as an apartment dweller, but the cost probably won’t reach anywhere near the cost of homeowner’s insurance.
If you think you can just bypass insurance, think again. Mortgage companies and banks often require that their borrowers have homeowner’s insurance for the house as long as a certain amount of money is owed on the house. In addition, you won’t get a bill for property taxes at the end of the year when you live in an apartment while you will when you own a house.
Obviously, there are many benefits to owning a home, but it’s often difficult to consider home ownership a “cheaper” option when you add in all the other costs associated with owning a home.
Here are just a few of the bills you’ll see come in the mail if you own a home that you probably won’t see when you choose to live in an apartment.
- Trash collection
- Utilities (you may only pay partial utilities in an apartment)
- Lawn maintenance
- Property taxes
- Homeowner’s insurance
- Routine maintenance & emergency calls
At the end of the day, you are striving to build equity and personal wealth with a home purchase. You can accomplish the same goal – building wealth – while living in an apartment, and you’ll never have to deal with property taxes to do it.
Apartment Living Comes with Everything
Many home shoppers begin their search with a list of “must haves” and “nice to haves” that may indicate whether a particular property is a good investment or not. Home ownership often comes with compromise where one of those “must haves” is going to be a “not have” because of its expense or scarcity.
For example, you might want a house in a great location near your preferred school or near work, but your budget might not accommodate a house in that area. An apartment may allow you to live in the best location at an affordable price.
Similarly, you might have to deal with a less-than-new kitchen, and there’s a good chance you’ll have to buy some appliances. That’s not the case when you choose to live in an apartment. Although there are some exceptions, living in an apartment comes with a ton of amenities including most – if not all – of your appliances.
Live with Us at Fox Run
Are you looking for an apartment in Federal Way? We’d love to welcome you on a tour of our conveniently located apartments. Live near Seattle just outside the hustle and bustle in a quiet, suburban apartment community. Get in touch with our friendly leasing office for a tour today!