Many people are now living in apartments, in big cities, more than they were about ten years ago. However, not everyone knows what an apartment is and why they are worth living in.
Generally, an apartment is any residential unit that you can find in a building. The building can be a large residential building, townhouse, or house where landlords sublet the units inside.
What differentiates apartments from the rest of the units on the market is that they’re rented out, and not owned, by tenants. In this article, we’ll explore more information about apartment living and look at the benefits of selecting this option.
What is an Apartment?
Rental Units vs. Flats vs. Apartments
The terms apartment, rental unit, and flat can be applied interchangeably. However, the use of these terms mainly varies based on regional differences. For instance, a rental unit is preferred in Australia, while a flat is usually used in Britain.
People in North America favor the use of the term apartment. However, it’s common to hear landlords and real estate brokers using the term ‘rental unit.’
Studio Apartment Design Tricks
When thinking of an apartment, the first thing that most likely comes to mind is residential unity inside a building. It’s, therefore, logical to conclude that an apartment is a small living area within a building.
So, what about single-family houses that landlords rent out to tenants? Even though this rental is a house, it can still be referred to as an apartment.
Condo and Co-op Conundrum
Many people confuse a condo and co-op with an apartment. THis is mainly because condos resemble rental apartments, physically, and they’re residential units found in multi-residence buildings.
With that said, the truth is that they aren’t rentals. They can only become apartments if the owner of such units decides to rent them out.
Sometimes it seems as though a condo and co-op should be defined as apartments. After all, they have the same living conditions, and many landlords often include the term ‘apartment’ while giving the address for a condo and co-op.
What the Word “Apartment” Means
The definition of an apartment, like we have seen above, is regionally appropriate, and differs highly based on the media and common vocabulary.
It can be simply be broken down into two simple meanings:
● A living space found inside a residential apartment complex or apartment building: The description here points out the architectural designation, without considering legal ownership. The space may have one room or several rooms.
Simply put, whether the occupants, in this case, own the unit or rent it, it’s still an apartment. The definition incorporates a condo and co-op.
● Another definition points out an apartment as a rented living space. The definition doesn’t include spaces where residents are owners. In this case, a condo and co-op are excluded from being apartments.
If, for instance, residents within a one room housing unit pay rent to stay there, it becomes an apartment by this definition.
After explaining what an apartment is, we can then proceed to explore the benefits of staying in the unit:
The Apartment is Easy to Maintain
One main reason why you should live in an apartment is that they are easy to maintain. When you don’t have to worry about maintaining the property involved, you’re likely to experience an easier life.
Owning a house brings responsibilities that include, but are not limited to, preventive maintenance, repairs, yard work, and increased costs. Even if there is someone to do the work for you, you’ll still have to pay a higher fee for the work to be done.
When you settle in an apartment, there is no need to worry about anything relating to maintenance.
For instance, replacing broken dishwashers, fixing leaky roofs, and shoveling snow are done efficiently by the apartment owners and staff. When there is a problem, you simply call the property manager for maintenance.
Apartments Enable You to Save Money
Many people argue that paying rent in an apartment is more expensive than paying a mortgage. However, they aren’t looking at the bigger picture.
Apart from a mortgage, which can be a hefty expense, when you buy a home unit, you typically have to pay a sizable down payment, insurance, property tax, and HOA fees. You’ll also be required to pay for the utility bills.
However, moving into an apartment has proven to be less expensive. It only requires a small deposit fee to move into a rental unit.
In addition, there isn’t a monthly maintenance expense in this case. Here, both the utility bills and renter’s insurance are slashed overwhelmingly.
There is Increased Safety
Safety is always a priority when it comes to considering the pros and cons of house vs. apartment. However, living in an apartment offers you added security features that you’ll never find in a home.
Many such apartment buildings are developed with:
● Controlled Access
● Extra Fire Protection
● Security System Cameras
● and Gated Communities
Another significant benefit of living in an apartment is having proximity to neighbors. Your neighbors might notice if there is a problem and alert the relevant authorities with immediate effect.
Increased safety and security make living in apartments ideal for families with children, the elderly, those after peace of mind, and tenants living alone.
An Apartment Comes with Great Amenities
Every person who is looking for a place to stay is always after the best modern amenities.
The good thing about staying in an apartment is that you’ll have access to some of the best amenities in the industry. In addition, you’re likely to get access to convenience and recreation, right at your doorstep.
There are also:
● Clubhouses for Parties
● Fitness Centers
● Swimming Pools
● Automated Smart Homes
● and Playgrounds
Unfortunately, even though you can still have these features in your home, they come at an extra cost.
Some other unique amenities you may have access to in an apartment include:
● Underground Heated Parking
● Movie Theaters
● Pet Spas
● and Hiking Trails
Living in an apartment, therefore, offers you an upgraded style of living, without incurring any increased costs.
You’ll Experience a Great Sense of Community
Even though you might still experience a close community living in homes, it becomes more elaborate in apartments. These buildings provide an environment where you can spend time with your neighbors and get closer to them.
There are even apartments that allow tenants to interact more and get to know each other through parties and barbecues.
You’re also likely to run into your neighbor while visiting common areas, such as fitness centers or swimming pools.
You’ll Save More Time in an Apartment
If you end up living in an apartment, you are likely to save a lot of time. For instance, fixing stuff around the apartment and maintaining the yard is done by the apartment management team.
In addition, if you choose an apartment that is closer to your place of work, you’ll not only save on time, you’ll save more money too.
You can, therefore, spend more time with your family and friends, or even engage in more recreational activities with the time saved.
The Final Verdict
There is no argument that apartment living makes life easier. An apartment is easier to maintain, has excellent amenities, offers a sense of community, saves time, and provides increased security.
There are so many places in the country where you can locate and rent an affordable apartment for you and your family. You have to carry out enough online research before settling on an apartment with enough room. All in all, we just hope you get what you’re looking for.