5 Disadvantages of Apartment Living
5 disadvantages of apartment living compared to owning a mobile home
Young couples and singles commonly face the dilemma of deciding whether to rent an apartment or buy a house on their own. An apartment may provide more long-term flexibility and hands-off maintenance responsibilities. However, renting an apartment has several disadvantages when compared to owning a mobile home and having more space and building equity are just a few of the upsides unique to home ownership. Let’s touch just 5 of the biggest disadvantages of living in an apartment living!
- Lack of Privacy – Apartment living is very different from mobile home living. The majority of apartments are in a complex, which means you share a driveway and an entrance with other residents. Since you have tenants on the other side of your walls, and above you or below you, there can also be issues with noise levels. Those living around you can also see when you arrive and depart, who your visitors are, and you’re never guaranteed to have communal areas like a fitness center, or the laundry area all to yourself!
- Less Space – Apartments are known for being pretty cramped. If you are used to spreading out and have oversized furniture, you may find an apartment to be too compact. If you have children, this can be even harder on your family, because there isn’t much room for them to run freely, and you have to go some distance to a common area or leave the complex completely to give them room to play outdoors.
- Inability to Customize – If you are considering renting an apartment, keep in mind there are many restrictions to customizing the space. In most cases, you cannot paint the walls, change the fixtures, or make any other kind of change to the unit. If you like to truly personalize your living space, apartment living may not provide you with the freedom to do so.
- Restrictive Lease Agreements – Apartment leases aren’t typically very flexible. In-demand apartment complexes usually require six or twelve-month leases. If you want to leave before the lease expires, you may be stuck for the duration of the lease. A security deposit of one month’s rent or more will likely be required when signing a lease. The landlord has the liberty to keep this if you damage the apartment or leave it in poor condition at the end of the lease.
- No Equity Built – One significant disadvantage of living in an apartment is that paying rent provides no long-term financial benefits. Consider how much money you would waste over time paying rent each month to your landlord. When you buy a mobile home, you can usually deduct the interest and property taxes. Furthermore, every mortgage payment increases your equity.
So those are just five disadvantages five disadvantages of apartment living but we would love to hear more if you have them!
While this list is not exhaustive, we choose these five because they are the most important to consider. “Why?”, you ask…
Consider The Disadvantages
Living in an apartment isn’t all bad, but it’s also important to recognize that there is quite a lack of freedom, compared to owning a mobile home on your own land! If you are seriously considering moving into an apartment, consider the above points and decide if it is the type of lifestyle you will be content with. Remember that moving is one of the biggest decisions we make in life! You definitely don’t want to be caught in regret down the road and stuck in a lease!