As you’re beginning to look at rental properties, you’ll eventually have to decide on if renting an apartment or a house suits you better. To assist you in figuring out which situation would be best for you, let’s look at some pros and cons of renting a Chicago house vs. renting an apartment.
Privacy
One of the more obvious differences between renting an apartment and renting a house is that living in a house is almost certainly going to provide you with substantially increased privacy.
Do keep in mind that renting a home reduces the possibility of becoming part of a community with those living around you, however. Renting a home in an established neighborhood normally means you’re going to be seen as a bit of an outsider, as the homeowners in the area are not expecting you to stay for the long haul.
However, residents of apartment complexes know they’re in a similar situation and won’t have that same perspective as the homeowners.
Space and Amenities
Due to the nature of how apartments are constructed, you can expect to have less total space available to you compared to renting a home.
For some apartment renters, the reduced space in their individual unit is made up for with common areas and amenities open to residents. Visiting any apartment complex you’re interested in will give you a clearer picture of what all you’re paying for with your rent beyond the four walls. Some complexes have fitness centers, pools, or laundry facilities that provide both convenience and leisure to their tenants.
Not every apartment or house is going to have these extras, but finding the right apartment complex that gives you easy and regular access to amenities that interest you can make a big difference in your day-to-day life.
Management
No matter if you’re renting a house or an apartment, you’re going to be dealing with a landlord or property management company.
When renting a home, you’re more likely to encounter a landlord that rents one or a handful of properties. This means their attention is trained on the goings-on at these few locations and they are likely to have less experience and resources available to deal with maintenance issues. It’s very common for your landlord to also act as your maintenance person when renting a home.
Contrast that with renting an apartment, where you’re much more likely to be going through an established and experienced company that has procedures in place and resources available for just about everything.
Location
Another point to consider when deciding if renting a house or apartment works better for you is location.
Homes are likely to be tucked away in or near typical residential areas whereas apartments can be put into retrofitted older buildings or any space with the proper zoning and utilities. This means you’re going to find apartments available for rent in downtown, urban areas and located in close proximity to bustling social and entertainment hubs.
On the other hand, rental homes are less likely to be in this same position, and then you could be dependent on personal or mass transit.
A great step to further establish the viability of a rental property is to imagine a normal day for you from beginning to end, and think about how well living there would work out.
Costs
Finally, with the increased privacy and space provided by most rental homes, you’re almost certainly going to pay more in order to live in one.
Apartments are normally a more budget-friendly rental option that will fulfill the needs of a more mobile and social tenant. However, it’s very important for you to factor in any amenities and conveniences to ultimately determine the value provided by any single rental property, apartment, and house alike.
Help Choosing When Renting an Apartment or House in Chicago
If you’re deciding between renting an apartment or renting a house in Chicago and need some guidance in making a final choice, contact us today at 773.233.2301!