Deciding whether to own a home or rent an apartment depends on a number of factors and both have their own pros and cons. On one hand, there is the pride of ownership along with a sense of freedom, when you choose to buy your own home. However, it comes with a price of paying your mortgage and being more responsible to fulfill your debt obligations on time.

Renting can be a hassle free option for those who want to enjoy the flexibility of moving to different places and enjoy a trouble free living with reduced expenses of maintaining the property. Overall, it depends on your personal circumstances, monetary situation and preferences, before you consider the option of living in an apartment or buying your own house.

Economical and affordable
When it comes to living in an apartment, you can make huge savings in terms of power and gas bills. Especially in smaller homes, the heating and cooling required is less as compared to big sized properties. The rent is cheaper too as compared to paying off your mortgage bills.

They may be a sustainable option as well with more number of people living in close proximity. This is mainly as most apartments will be able to draw heat from the other nearby apartments, which significantly reduces the heat that is required for your own rental apartment.

Less hassles of property maintenance
If there is any maintenance issue in your rental apartment, you can always get in touch with the property manager or anyone who is in charge of managing the issue. Most private homes have huge gardens that need to be regularly maintained. On the other hand, rental apartments are smaller and usually have balconies so you get more time to spend during your weekends.

More safe and secure
This is one of the best advantages of living in an apartment as there is increased security and safety for the members. Most of these rental apartments have multiple points of entry including the side door, main door, fire door which prevents the possibilities of burglary inside the house.

Some of the rental apartments also have security cameras and other safety devices that may make you feel more secure and help in safeguarding your privacy.

Less responsibility
You will have less financial burden living in a rental apartment as compared to owning a house. This allows you to make a better choice of living in an upmarket area and gives more disposable income to spend freely on things that you cherish the most. There is considerable savings by choosing to live in a rental apartment compared to the hidden costs involved in owning your own house.

Access to more number of amenities
There are different amenities that come with apartment living such as gyms, BBQs, swimming pools or rooftop areas, laundry rooms offering greater convenience and comfort. You can save money on expensive gym memberships or buying costly exercise equipments as well. Parking facilities are more secure in a rental apartment as you get a defined parking space for your car.