Apartment Living vs. Home Ownership


From living with our parents to moving to our first apartment and starting a family in a home of your very own is part of life. Nonetheless, everyone does not necessarily follow this process exactly the same way. When it comes to deciding where you want to live, in whatever stage of life you happen to be in, choosing between apartment living and home ownership will sooner or later come up. To help make deciding a lot easier, consider how they compare. 


How Do They Compare in Cost?

When it comes to cost, apartment living may be the cheaper option, as some apartments include utilities within the rent. On the other hand, buying a house costs a bit more, but making payments on your mortgage can be adjusted to a payment plan that fits you. To say the least, when it comes to choosing your preferred type of housing, how much you can afford is a big determiner.

Costs and Benefits



  • Apartments have limited space compared to a house. If you have a growing family or have the need to expand, looking into buying a home may be an ideal option for you.
  • Apartments have limitations when it comes to decorating or upgrading. Finding ways to save the walls from paint chips and other small damages, which you can be charged for upon moving out, may be hard but not impossible to find.


  • Maintenance is just a call away at most apartments. Reporting issues such as plumbing issues or electrical problems are taken care of at no cost to you by the apartment’s maintenance staff. (Take note that not all apartments provide maintenance for their tenants.) 
  • Utility bills may be a bit cheaper.  Apartments have less space, meaning that there is less room to heat or cool resulting in lower utility bills.



  •  If you are transitioning from an apartment to a home of your own, one thing to be aware of is that maintenance is all on you. Rather than calling maintenance to fix a leaking pipe or the broken AC unit, as a homeowner, you are responsible for fixing the problem yourself or calling for professional assistance.
  • Apartments are strategically placed in areas where amenities are easily accessible. As for homes, this may not be true. Homes are usually in locations where there is a bit more privacy than an apartment would offer. 


  • Homes tend to have more space than apartments. From extra storage space and larger rooms for expanding families to greater decorating opportunities, owning a home has its perks!
  • When you own a home, you have more freedom to decorate and remodel as you see fit. Most apartments limit how much you can alter a room or area including not being able to paint the walls and more.

Wherever stage of life you happen to be in, deciding if you want to live in an apartment or transition to a home of your own is something to consider. If you choose to go the home-owning route, The American Dream can assist you through the whole home buying process from start to finish. For more information or advice about homeownership, contact an agent today!

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