There comes a time in many adult’s lives where they must decide to buy a house or continue renting an apartment. While owning your own home provides equity and a solid sense of accomplishment, it also means you’re responsible for anything that needs repair—in addition to a hefty mortgage. If you find yourself on the fence, consider why renting might still be the best answer.

The Benefits of Renting an Apartment Over Owning a Home

Less Responsibility

Compared to owning a home, renting an apartment requires considerably less responsibility. As a tenant, repairs are passed off to the landlord and management staff, and you don’t have to pay for materials or labor. When you need a window repaired or a new showerhead, you can rest easy as a renter and pass the reins off to someone else.

Lower Upfront Costs

Your security deposit—along with your first and last month’s rent—is a relatively small sum compared to a down payment on a home. Buyers pay as much as 10 times what renters do when purchasing a residence. Plus, most renters don’t have to pay real estate agent fees.

More Flexibility

As a homeowner, you are tied to your residence until you sell it. However, when renters sign a year’s lease, they are free to leave after the year is up. Some landlords even offer month-to-month leases, so you can vacate the apartment whenever you choose. A house is something you have to manage and maintain until you sell, which can take years depending on the current housing market.

Enjoy these and other apartment rental benefits at The Reserve at Merrick. Located in the Lansdowne-Merrick Park area of Lexington, KY, and owned by Cowgill Properties, the complex offers affordable, pet-friendly apartments for rent. Call (859) 266-8811 or visit the website for more information today. Follow the apartment community on Twitter for area news and events.