If you know any millennials, you already know that many of them are opting to rent apartments instead of purchasing homes. This is for a lot of reasons, but there’s no doubt that renting offers some big incentives for younger people. Why are so many people choosing to rent though? We have a few ideas as to what the big reasons are that make young people choose to rent apartments instead of buying their own home, so read on to find out more!
1. They Don’t Need Homes!
The fact is, most people who look into homes do so because of the number of people in their family. The more of you there are, the more space you naturally need—but younger people tend to have smaller families or no family at all, meaning that apartments have the ideal amount of space for them. Why invest in a huge home when you don’t have enough family members, or even furniture, to fill all that space with?
2. Skirting Responsibilities
The stress of homeownership can be pretty overwhelming. Every time something breaks, it’s up to you to fix it. Landscaping, maintenance, and other kinds of homeownership responsibilities can be a lot to deal with. If you choose to rent instead of buy, you don’t have to worry about that problem.
3. Better Options For Residential Areas
If you want to take control of the neighborhoods available to you, renting certainly provides better options. Your ideal neighborhood, surrounded by the kinds of businesses you love or that cultivates the kind of community you like, may be incredibly cost prohibitive to buy a home in. However, renting is a much more affordable option to help you get your foot in the door.
4. More Future Flexibility
Young people rarely have their lives planned out to a T. Things can get tricky and you may find yourself needing to uproot entirely and move across the country, so why make things difficult for yourself by planting down roots when you don’t need to? Buying a home can lock you in a 15 or 30 year mortgage commitment, requiring you to have some level of certainty about where your future will take you.
The Apartments of Wildewood have a friendly community that’s waiting to welcome you!
At The Apartments of Wildewood, located in beautiful in St. Mary’s Maryland, we offer homes with access to pools, an on-site gym, and maintenance whenever you need it – and have access to all the information you need to affordably rent an apartment in St. Mary’s. To set up an appointment to check out an apartment or townhouse rental from The Apartments at Wildewood, call us at 301.737.0737 or visit the website!