Apartment or House

Could you imagine yourself without a house? Could you imagine your life wherein you don’t have a house to go home to every night? No place to rest and recharge for yet another day at work? Indeed, everyone needs a place to lay his or her head on. This is the reason why shelter is considered as one of the three basic needs of man, and perhaps all living things.

But nowadays, not everyone is blessed with a house of their own. A large majority would rather rent an apartment rather buying a house. They say owning a home is quite more complicated than renting an apartment. If you are living in an apartment, you don’t have to worry about maintaining the house and spending for it when anything went wrong. Also you don’t have to worry yourself on back-breaking snow shoveling, lawn maintenance or pool/sauna care. It also come as convenient that your monthly rent often covers everything. This is far too convenient as compared to having your own house and you have to take care of several separate bills and fees when you own a house or a condominium.

Getting an apartment is more affordable than owning a condominium. For one, rentals do not require you lots of money for down payments, , closing costs and fees for things such as building inspections, legal counsel, land transfer taxes and insurance. And although owning a home comes with a tax break, let’s face it we can’t always rely on this one. If your annual mortgage interest payment, plus any other deductions you are entitled to, isn't greater than your standard tax deductions, you will not receive any tax benefit from owning a house.
But when you are renting an apartment, some countries offer a certain amount of tax relief where a large portion of your rent is tax deductible every year. Renting an apartment is also far flexible than you could ever imagine. You can pack up and leave immediately at the end of your lease without the need to wait to sell your property first and find a new house before leaving. Apartment living is indeed all about freedom.

And finally, apartment renters face minimum risk. In the event that you cannot pay your rent anymore, you could just leave the house and look for a cheaper one. This is not like all the consequences that come when you can’t pay your mortgage anymore.

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