For generations, there has been a debate between buying vs renting your home. However, more people than ever before are renting, in fact, there are more renters now, here in the Ottawa area and across the country than at any other point over the last 50 years. That’s because more and more people are recognizing the benefits of apartment living.
The lack of maintenance is perhaps my favourite thing about apartment living. When you move in, your apartment is ready for you. Here at Hillside Vista Rentals, every unit is brand new, so you get to enjoy the feeling of moving into a clean, flawless, modern home.
If you purchase a house or a condo, when the air conditioner stops working in the summer, you have to call around, compare prices and arrange an appointment that you need to be there for. If you’re in an apartment, you simply need to make one call to the property manager, and you can consider it fixed. The same if your kitchen sink backs up, the hot water tank starts leaking, etc.
Additionally, homeownership comes with property maintenance. Cutting grass, clearing snow from driveways, raking leaves, cleaning out the gutters, etc. You might decide to hire a landscaping company to help with all this, but those prices are pretty steep and in addition to the other monthly payments you’re facing. This brings us to the next important benefit of apartment living...
Many argue that your monthly rent for living in an apartment can be higher than a mortgage payment. This is sometimes true, but they’re not looking at the big picture. Your mortgage is just one of the fees you face as a homeowner. There’s insurance for the house, and insurance on the mortgage (if you put less than 20% down on a home then you must pay CHMC insurance, which is usually in the thousands each year). There’s also property tax and utilities. Now, you may be paying utilities in an apartment, but they’re often much less because you’re not paying to heat or cool the basement, attic, and other unused areas of the house.
When you buy a home, you’ve likely invested a hefty sum for the down payment, which is money that is no longer at your disposal. If it’s a condo you’ve purchased, there are condo or H.O.A. fees that are added on every month as well.
No matter where you decide to live, safety should always be a top priority. Apartment complexes offer safety features a home can’t. Some are gated communities with controlled access. Most offer one or two locked doors that you need a code/key/fob to enter. There are also usually security cameras, some with a closed-circuit television system so you can monitor your tv.
Living in close proximity to neighbours makes many families feel safe. They’re better able to hear if something happens, if there are unusual noises, etc.
For the most part, there are more options available to rent than there are to purchase, especially when trying to stay within a price range or a certain community. You’re more likely to be able to live in the neighbourhood you want, be it a family community or close to your work. Hillside Vista Rentals is located in the wonderful Orleans area, which includes plenty of parks, Petrie Island, recreation areas, schools, and local shopping. Being able to live in your ideal community is priceless.