Which is the smartest choice for you? There are many factors to consider. Among those factors is your income, age, how long you would plan to stay in the home should you buy, how long you want to rent, etc.
One of the major influences for me, when I was faced with that choice, was that as a renter, I had no equity in the property. I paid a monthly rent to the landlord, period. That was the downside. The upside was that when the toilet leaked, I called the landlord. I didn’t have to worry about getting a plumber, missing work to stay home to wait for the plumber or paying the plumber’s outrageous fees…particularly if it happened to be on a weekend…it was all taken care of for me.
I knew when I finished college that I would not be buying a home right away. First of all, I couldn’t afford the monthly mortgage, let along the down payment. Second, I wasn’t sure that I was going to remain where I was living or whether I wanted to move to a larger city in the Northeast.
So, I started apartment shopping. I did what I felt everyone should do…I started my search online. I had decided that I wanted to rent a one or two bedroom apartment in the city center. I like to be where the action is, and I knew I could afford it with what I was making. I also wanted the extra bedroom in case friends came to visit…not to mention the extra closet that came with a two bedrooms.
After scanning what seemed like a hundred websites (but was probably more like eight!), I came across Cheap Apartments in Mobile, AL.
They were speaking my language. Cheap Apartments!
They have apartment listings ranging from studios to 5 bedrooms, furnished or unfurnished, in the city center or the suburbs. They have rentals, co-ops, and condos.
It turned out to be a phenomenal resource for me.
Their website made it easy for me to find exactly what I wanted. I simply typed in 2 bedrooms, city center and up popped about 30 listings. The listings had pictures of both the interiors and exterior. There were several floor plans to select from, along with all of the amenities offered in each building.
It was easy to draw up a list of prospective properties to go tour. It took me about two weekends to find the one that was totally perfect for me.
I negotiated with the landlord and ended up signing a one-year lease with the option to renew for a 2nd year at the same price. I got him to paint the entire apartment in the colors I wanted, and I moved in a few days later.
I’m now firmly ensconced in my apartment. I love it…I walk to and from work, stopping at Starbucks on the way to work and at the corner Bistro on the way home…I love it.