BY On Aug 06, 2018 Apartments
The modern large apartment building emerged in the early 20th century with the incorporation of elevators, central heating, and other conveniences that could be shared in common by a building’s tenants. Apartments for the well-to-do began to offer other amenities such as leisure facilities, delivery and laundry services, and communal dining rooms and gardens. The multistory apartment house continued to grow in importance as crowding and rising land values in cities made one-family homes less and less practicable in parts of many cities. Much government-subsidized, or public, housing has taken the form of apartment buildings, particularly for the urban elderly and working classes or those living in poverty. Apartment-block towers also were erected in large numbers in the Soviet Union and other countries where housing construction was the responsibility of the state.
The financial benefits discussed here are gateways to our future. While we endure less burden and responsibility while renting, this is the opportune time to invest into your future. By placing the money saved into a “rainy day” account, this can be the beginning of a brighter financial outlook.
So far we have discussed money savings from rent, lack of need to maintain the property and, well, that’s it. The lack of need to maintain property is not only a financial windfall but also a stress reliever. Homeownership comes with a lot of headaches and issues and deciding to rent will help you avoid these types of setbacks. Instead of using the “rainy day” fund to fix the boiler, it can be used for a much-needed vacation to a tropical island.
Parallel to buying a home, apartment rentals make great short-term options. Deciding to buy a home is a life long dream but you have to live somewhere while you prepare to make that dream come true. Whether you are working on credit, saving money or mentally preparing for the responsibility of owning a home, an apartment is the best interim option.
Unlike houses, apartment complexes are generally built with specific amenities such as pools, gyms, convenience stores and laundry facilities directly on the premises or at the least in very close proximity. Although you could always have these elements built into your home, the financial obligation is not as rewarding. Apartment living can prove to be a very convenient living arrangement. Although homeowners often invest in some form of home security system or another, apartment complexes also invest in the overall safety of its residents. The close proximity of neighbors (in contrast to being the only one in a house at any given moment) and typical apartment complex safety measures prove that multi-unit dwellings are the safest locations for single women, children, families and the elderly.
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