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Should I Rent An Apartment Or Buy A House In Westfield?

In the past decade, traditional fiscal wisdom in regards to buying a home or renting an apartment in Westfield has flipped upside down. Buying a home allows for a source of pride and connectedness that you cannot derive from renting, but it can also be a source of difficulty and steep costs. Renting may come with some constraints, but also allows for flexibility and fixed expenditures home ownership doesn’t. Here are a few notes to think about ahead of deciding to buy a house or rent an apartment in Westfield.

Apartment building in Westfield

Money is Key

Costs, both upfront and continuing, can differ wildly between buying a house and renting an apartment. The home buying procedure is rife with expenses that traditionally have to be collected upfront - in addition to your down payment. There is first-year insurance bills, earnest money, home appraisals and inspections, and other various charges - all before your monthly bills even kick in. That’s not even including the additional costs of maintenance and any restorations you may need.

Renting has a noticeably lower limit for entry. Typical renting upfront costs include a security deposit, first month’s rent, and other various deposits or fees. While some say that money paid for renting is gone forever, money spent on a place to live is never a waste.

Living room in Westfield apartment
Living Room at The Legacy Apartments

Areas for Yourself and the Entire Family 

What you want from your living quarters may be the critical consideration in choosing if you should buy a house or rent an apartment in Westfield. The standard house size in the US is continually growing, meaning more room for bedrooms or an extra bathroom. A house will likely have grass for kids and pets to move freely and play in.

You can discover apartments in various layouts and floorplans. Inside, you can find anything from a 1-bedroom to a 3-bedroom, but the units all come in fixed layouts. Your apartment should have have walking routes and a dog park, and residents living right next to you. Of course, most houses don’t come with amenities like a fully equipped workout room or swimming pool.

Repair in Westfield apartment

Maintenance Woes

While the freedom that comes with having a house is incredible, it does come with a price. In the event that a pipe burst or air conditioner break, it is on you or someone you hire to make the repairs. In a complex, there are maintenance professionals that is available 24/7. Not only is having a maintenance professional on-call convenient, but it will likely also save you some serious repair costs. Repair fees are included in your renting costs, while any repairs on a house come directly out of pocket.

Flexibility for Your Way Of Living

Your job and lifestyle can be massive factors in whether to buy a house or rent an apartment in Westfield. Selling a house can be a lengthy, stressful process. If you work in a position that requires you to relocate routinely, undertaking the selling process could be more trouble than it is worth. Renting an apartment is a more simple process that doesn’t involve real estate agents or money lending - only the apartment staff and you.

Ready To Start Looking For Your Ideal Apartment Space?

When you want an apartment in Westfield, your first choice should be Union Street Flats. We have roomy floorplans, attentive staff, and top-of-the-line amenities. Simply call 317-942-3629 or click the “schedule a tour button” to discover your new apartment.
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