As a young adult, you’ll encounter plenty of crossroads in life, such as, should I rent or buy my living space? If this thought has crossed your mind, the decision to purchase property may seem daunting. Happily, there are plenty of benefits to leasing instead of owning an apartment. Here are just three of the most rewarding reasons to be a renter.

3 Reasons to Rent an Apartment Instead of Buying Property

1. Fewer Maintenance Expenses

When you own a property, you’ll be responsible for fixing everything that goes wrong — from burst pipes to broken air conditioners. As a renter, any home maintenance needs or sudden emergencies will fall to the landlord to resolve. Instead of budgeting for expenses to cover unexpected repairs, you can enjoy the knowledge that your landlord has property upkeep covered.

2. More Amenities

To entice renters to sign a lease, many rental developments, condominiums, and apartment complexes offer special perks that are included in your monthly rent. As a tenant, you could have access to anything from tennis courts and a gym to a rooftop pool and round-the-clock security. As a property owner, these are expensive amenities you will have to purchase yourself or seek out from separate establishments.

3. No Extra Fees

In addition to paying a significant 20% down payment, homeowners have to pay real estate taxes on the properties they own. With renting, you’ll only have to pay for a fraction of that down payment as a security deposit — which you’ll get back if you take care of the apartment. Plus, you won’t have to pay property taxes or HOA fees on the property — all you have to worry about is monthly rent. When you’re ready to move on, you don’t have to pay for a realtor to list and sell the property. You can just pack up, collect your deposit, and find a new place.

If you’re interested in the perks of renting an apartment, consider becoming a tenant at The Axis at 1435 in Lexington, KY. This apartment complex is conveniently located across from the football stadium and is just three minutes from the University of Kentucky campus. Complete with dog-friendly units, a laundry facility, and a courtyard, you’ll have all the amenities you need to live large. For more information on their available units, visit their website, or call (859) 286-9506.