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

January 20, 2021

Exterior of apartment in Fishers

During the 21st century, common financial wisdom in respect to acquiring a home or renting an apartment in Fishers has flipped upside down. Obtaining a home gives for a cause of pride and connectivity that you cannot derive from renting, but it may also be an origin point for frustration and big costs. Renting may come with some added rules, but also allows for adaptability and financial savings home ownership cannot. Here are a handful of points to know before deciding to acquire a house or rent an apartment in Fishers.
Apartment building in Fishers

Money is King

Costs, both upfront and reoccurring, can vary greatly between renting an apartment and buying a house. The house buying transaction is rife with charges that normally have to be paid upfront - not including your down payment. There is first-year insurance fees, earnest money, house appraisals and inspections, and other various bills - all before your monthly bills even begin. Not to mention the additional prices of upkeep and any renovations you may want.

Renting has a considerably shorter limit for entry. Normal renting upfront costs include a security deposit, initial month’s rent, and other various deposits or payments. While some say that money spent on renting is gone forever, money spent on a space to stay is never a waste.

Living room in Fishers apartment

Room for Yourself and the Entire Family 

What you require out of your living quarters may be the determining factor in deciding if you should buy a house or rent an apartment in Fishers. The typical house floor size in North America is trending upward, meaning more space for a home gym or an extra bathroom. A house could have a yard for kids and pets to move freely and play in.

You can discover apartments in various layouts and floorplans. At most complexes, you can get anything from a 1-bedroom to a 3-bedroom, but the units all come in predefined layouts. Your apartment should have have walking routes and a dog park, and other families living on the other side of the wall. Of course, most houses don’t come with amenities like a decked out gym or swimming pool

Repair in Fishers apartment

All the Bells and Whistles

While the versatility that comes owning a home is incredible, it does come with a few strings attached. In the event that a pipe burst or air conditioner break, it is up to you or a handyman you call in to conduct the repairs. In a rental, there is a trained maintenance staff that is available 24/7. Not only is having a maintenance professional on-call convenient, but it will likely also save you some serious money. Repair costs are factored into your renting fees, while any replacements on a house come straight out of pocket.

Freedom for Your Lifestyle

Your profession and lifestyle can be large factors in whether to buy a house or rent an apartment in Fishers. Selling your home can be a lengthy, complex process. If you work a job that calls for you to relocate regularly, undergoing the selling procedure may be more taxing than it is worth. Renting an apartment is a more simplified process that doesn’t involve real estate agents or banks - simply the apartment staff and you.

Ready To Start Finding For Your Ideal Apartment Space?

When you want an apartment in Fishers, your first choice should be The Flats at Switch. We have luxurious floorplans, courteous staff, and sublime amenities. Simply call 317-597-5275 or click the “schedule a tour button” to find your new home.