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

In the past several years, common fiscal wisdom in respect to purchasing a home or renting an apartment in Fishers has turned on its head. Buying a home allows for a cause of pride and connectedness that you cannot get from renting, but it may also be an origin point for difficulty and serious costs. Renting may have some restrictions, but also provides for flexibility and fixed expenditures home ownership doesn’t. Here are a few things to know ahead of deciding to purchase a house or rent an apartment in Fishers.

Apartment building in Fishers

Money is King

Costs, both initial expense and ongoing, can differ greatly between renting an apartment and buying a house. The property buying process is rife with costs and fees that normally have to be given upfront - not including the down payment. There is earnest money, property appraisal and inspections, first-year insurance bills, and other assorted charges - all before your ongoing bills even start. That’s not even including the additional price tag for repairs and any restorations you may need.

Renting has a noticeably shorter barrier for entry. Standard renting upfront fees include a security deposit, that month’s rent, and other various deposits or fees. While some say that money used on renting is wasted, money used on a location to reside is never a loss.

Living room in Fishers apartment
Living Room at The Legacy Apartments

Space for You and the Entire Family 

What you want out of your living quarters may be the key factor in choosing if you should rent an apartment or buy a house in Fishers. The average house floor size in North America is trending upward, meaning more space for an office or a nursery. A home will likely have a backyard for kids and pets to roam free and play in.

You can locate apartments in assorted layouts and floorplans. Inside, you can have anything from a 1-bedroom to a 3-bedroom, but they all come in fixed layouts. Your apartment will likely have walking routes and a dog park, and other families living on the other side of the wall. Of course, most properties don’t come with amenities like a decked out gym or swimming pool.

Repair in Fishers apartment

Maintenance Woes

While the choices that come having a house is remarkable, it does come at a cost. In the event that a pipe burst or appliance break, it is on you or a handyman you call in to do the repairs. In a complex, there is a trained maintenance staff that is available 24/7. Not only is having a maintenance specialist on-call convenient, but it may also save you some big money. Repair fees are included in your renting costs, while any repairs on a house come directly from your bank account.

Freedom for Your Lifestyle

Your profession and lifestyle can be massive factors in deciding to buy a house or rent an apartment in Fishers. Selling a house can be a arduous, complex process. If you work in a position that calls for you to relocate frequently, undergoing the selling process could be more trouble than it is worth. Renting an apartment is a more streamlined process that doesn’t involve real estate agents or money lending - simply the apartment staff and you.

Ready To Start Looking For Your Perfect Apartment Space?

When you’re ready for an apartment in Fishers, your first choice should be The District at Saxony Apartment Homes. We have spacious floorplans, attentive staff, and sublime amenities. Simply call 317-576-3057 or click the “schedule a tour button” to find your new apartment.
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