Renting & Buying: Which is Right for You?

Renting & Buying: Which is Right for You?

Renting & Buying: Which is Right for You?

January 16, 2019   /    Apartment Rental Tips   /    no comments

Should You Rent, or Should You Buy?

If you plan on moving out in the near future, it can be a struggle to decide between buying your own house and renting an apartment or condo. There are pros and cons associated with each choice, and the choice you make ultimately depends on your personal preferences. Below we have listed several of these differences so you can make your own decision.

Payments

Roll of Dollar Bills

One of the key differences between renting and buying involves how payments are handled. When you rent an apartment, you primarily focus on monthly costs for your rental payments and utilities. While you do have monthly payments, you do not have to take out a massive loan before you move in. Therefore, the initial payment is much lower than it would have been if you bought your own property.

On the other side of the spectrum, you usually need to put down a decently sized payment first if you plan to buy a house of your own. Therefore, buying a house can be a bit pricey in the short term. The main difference here is that once you finish paying the mortgage the house is completely yours.

Ultimately, the choice you should make depends on the amount of money you are willing to spend in a short period of time.

Maintenance & Responsibility

Fixing an Outlet

Another major difference between renting and buying is the amount of responsibility expected from you. When you rent an apartment, most of the maintenance is handled by the landlord who owns the community or apartment. Therefore, if something breaks due to an accident, it is the responsibility of the landlord to deal with it, not yours.

On the other hand, when you are the owner of your own building, you are responsible for everything that happens within it. It’s your property, so no one is going to come out to help you for free when the air conditioner starts going on the fritz. Any money for repairs comes out of your wallet.

When deciding between renting and buying, always think about how much responsibility you are willing to take on in regards to maintenance and upkeep.

Committing to Where You Live

Before you make this big decision, you should think about how long you plan to live in the area you want to move to. Are you planning to live there for a short amount of time? Or do you plan on living there for at least five years? Knowing this can help you decide between renting and buying.

The lease on an apartment can last anywhere between six months to a full year, and once the lease is up you can choose to renew it or move on. This gives you the freedom to move

around if you want to see new sights. However, owning a house is a much bigger commitment, since it is your responsibility while you pay your loans. If you do decide to move later on, it can take months for a potential buyer to take interest.

Long story short, you should expect to live in a certain location for a decent amount of time if you plan on buying your own property.

Creative Freedom & Visitors

Painting Tools

One of the benefits of living in your own home is having the freedom to decorate it however you please. Since the house is entirely yours, you can choose to repaint the walls and remodel whenever you choose. You can also invite people over whenever you please, so there are a lot of freedoms to take advantage of.

When you rent an apartment, however, there are certain restrictions to keep in mind. You can bring in your own personal decorations, but more substantial updates are typically not allowed. Landlords own your apartment, and they will not be happy if you start tearing up the carpets in your unit. In addition, you also have to be mindful about visitors and noise, since you do not want to bother your neighbors.

If you would like to move into one of our apartments, please take the time to check out some of them online.

Tired of Eating In? Read About Some of Windsor, CT’s Best Restaurants

December 18, 2018   /    Things to do in CT , Windsor, CT   /    Comments Off on Tired of Eating In? Read About Some of Windsor, CT’s Best Restaurants

Eating at home is a great way to save money, but every once in a while you should think about treating yourself to a nice meal. Windsor, CT is home to a number of great restaurants that you can visit alone, or with friends and family. If you are interested, here are our recommendations for some of the best restaurants you can find in Windsor.

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How You Can Beat the Cold: Connecticut’s Best Winter Activities

November 27, 2018   /    Things to do in CT   /    Comments Off on How You Can Beat the Cold: Connecticut’s Best Winter Activities

Many people do not enjoy the arrival of winter, since the colder weather can be a bit rough to deal with. Despite this, there are others who greatly anticipate the arrival of winter. This is because there are a number of activities you can only take part in at this time of year. If you are looking for something to do when the temperature starts dropping, here are our recommendations for the best winter activities that Connecticut has to offer.

We also have options for those of you who would rather keep warm.

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Eating Out: Check Out The Best Restaurants in Billerica, MA

October 31, 2018   /    Middlesex County, MA   /    Comments Off on Eating Out: Check Out The Best Restaurants in Billerica, MA

Are you a resident of Billerica who is tired of eating in every night? If you are, you should think about heading out for dinner every once in a while. Billerica houses a selection of great restaurants, and each one features plenty of meals for patrons to try out.

Take a few minutes to read about some of the highly-rated restaurants Billerica has to offer. If you are interested in moving to Billerica in the future, these restaurants just might entice you over.

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The Best Schools in Hamden, CT

June 15, 2018   /    Hamden, CT , New Haven County, CT   /    Comments Off on The Best Schools in Hamden, CT

When you decide to move to a new town there are a lot of factors that you have to be aware of. One of those factors is the quality of the local schools, because if you have kids you want to make sure that they will attend a school that offers a good education. If you are interested in moving to Hamden you will be pleased to know that it is home to some of the best schools offered in Connecticut. Take a few minutes to read about a few of the top schools that Hamden has to offer.

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Historical Hamden, CT: Places You Should Visit

Historical Hamden, CT: Places You Should Visit

May 15, 2018   /    Hamden, CT , New Haven County, CT   /    Comments Off on Historical Hamden, CT: Places You Should Visit

Known as the “Land of the Sleeping Giant,” Hamden, CT is a well-known town in New Haven County. Hamden has a significant role in Connecticut’s history, and people come from all over the country to visit the different historical sites found here. We partnered with the Hamden Historical Society to showcase some of Hamden’s best historical sites. Whether you are a resident or a visitor, you should try to visit the following places.
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Off Campus Activities for Quinnipiac & UNH Students

April 16, 2018   /    Hamden, CT , New Haven County, CT , Things to do in CT   /    Comments Off on Off Campus Activities for Quinnipiac & UNH Students

Are you looking to take a break from your college assignments so you can do something off campus? Students attending college in New Haven County, CT have access to a wide collection of activities and attractions that can be found in the nearby area. College can be overwhelming at times, so you should set aside some time to do something fun every once in a while. Take part in one of the following activities close to your off campus apartment.
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Everything You Need to Know About Billerica, MA Schools

March 15, 2018   /    Middlesex County, MA   /    Comments Off on Everything You Need to Know About Billerica, MA Schools

When families are looking for a new place to live, one of the deciding factors is the quality of the schools in each place they are looking at. Parents want to make sure that they are sending their kids to schools that offer a good education, so they usually research the schools beforehand. If you are planning to move to Aspen Regency or anywhere else in Billerica, take a few minutes to read about the schools your children will attend.
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Aspen Regency is Now Open! View Amenities & More

January 15, 2018   /    Community Spotlights , Middlesex County, MA   /    Comments Off on Aspen Regency is Now Open! View Amenities & More

Aspen Communities welcomes you to our first property in Massachusetts, Aspen Regency! Located in Billerica (Middlesex County), Aspen Regency offers brand new one and two bedroom apartments in a peaceful, tree-lined area. If you’re interested in moving into new construction apartments, continue reading to learn more.
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Furnishing Your Apartment on a Budget

December 15, 2017   /    Apartment Rental Tips   /    Comments Off on Furnishing Your Apartment on a Budget

Furnishing a new apartment can be a challenging task, especially if you are a college student who doesn’t have a lot of money on hand. While you want to ensure that your furniture is quality, there are numerous ways to save when shopping for your new apartment. Follow these tips and you should be able to furnish you apartment on a reasonable budget.
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