Will Your First Home Be a City Apartment or House and Land?
When it comes to homeownership, the most significant debate is whether or not to invest in an apartment close to the city center or a cozy independent home out in the suburbs.
Apartment living in the big cities is most often chosen to be close to the workplace office. In addition, big-city apartment living is chosen for those who love the hustle and bustle a city offers. Commuting to work and convenient shopping and dining is a top priority.
In contrast, many love the suburbs, some in small quaint communities and others making their homes within many acres of land. If you work in the city, there will be a commute; however, if your workplace is near to your chosen suburban home, that’s even better.
So, what about that white picket fence dream? The four bedrooms, two-car garage, and a backyard for the kids and dogs? It is possible to get these things at a price you can afford. Your living space will be roomier, but it can come at a cost above a simple apartment suite unless you choose a suite in an upscale area.
Choosing a Lifestyle
Let’s talk about lifestyle.
As you envision yourself as a homeowner, would you rather be close to everything or have room to spread out? While apartments may not be the best choice for pure ownership, when it comes to lifestyle, it is hard to beat their combination of price and convenience. An apartment will most likely be closer to your job, within walking or easy driving distance from hundreds of local shops and restaurants, and you’ll be close to many other people.
You will also benefit from high-end building amenities that are usually too expensive for a single-family home but viable when the costs are shared between three or more owners. Where you might not otherwise have a pool, spa, games room, gym, or theater, these things can be readily available to you based on the specific apartment building you choose.
On the other hand, a house provides a level of space and privacy not found in apartment living. You can landscape your own yard, have multiple dogs, and even hold lively barbecues without bothering the neighbors. You can also decorate the outside of your home any way you like, within council limitations, of course, and make a reasonable amount of noise in your home without worrying about being heard or having to hear others through the walls.
While there are spacious apartments, with a house, you not only have room to spread out, but you also may have the option of building onto the house further in the future should you need even indoor space.
Cost and Availability
Finally, there’s the question of cost. Comparing the cost of a remote house and land property versus a city apartment includes several relevant factors. Single-family homes, in general, cost more than apartments; however, a spacious apartment in a busy part of town is likely to have an increased property value based on demand alone. Apartments tend to cost less, but they also can come with unforeseen expenses like costs to maintain shared building areas.
Homes often require a larger downpayment, but you don’t have to share the property with anyone else if you’re considering one of the more unusual buying options, like an incomplete construction property or even empty land to build on; check all the peripheral and future costs before committing to a purchase.
Time To Make The Decision
When you’ve chosen the kind of property you want, the region you’ll be buying in, and your projected price range, it’s time to start contacting professionals. Online resources may help you find the perfect property, but a real estate agent will know where to find places that aren’t conveniently listed. Inspectors will help you determine if a property is up to your quality standards and worth buying. Finally, an attorney will help you ensure that all the paperwork is taken care of so the property will be fully legally yours once everything is signed.
Ready To Make The Move?
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Contact Charles Moving and Storage when you have found your perfect home or new business and we will be ready to help you.