As the school year comes to a close, families are making tough decisions about their living situation. Financial circumstances change. Happy marriages break up. Some people are finally realizing that living large in a picture perfect McMansion does not always equate to the good life. Keeping up with the Joneses isn't all sunshine and unicorns.According to the U.S. Census Bureau, homeownership in the U.S. has fallen to its lowest point in nearly 20 years - just under 65 percent - as renting becomes a more attractive and affordable alternative. The last time it was that low was in 1995. It's clear that an increasing number of people are coming to terms with the fact that downsizing from a house to an apartment is sometimes the smarter - or even the only - option. But it ain't easy. There will be lots of new things to get used to. How will you deal with such a drastic change?
Love is in the air … not just for smitten couples and star-crossed lovers, but for ordinary people who have fallen head over heels for their apartments. For some, apartment living isn’t a stepping stone towards buying a home; it’s a way of life. We asked our readers to tell us exactly what they love about renting, and here’s what they had to say.
It’s an ongoing, popular question: should I stay in an apartment or buy a single-family house or condominium? For many renters struggling with the rent or buy debate, the answer often comes down to square footage. You may think you have to buy a house to get more space, but the rental industry is starting to focus on building larger apartments that rival the square footage of free-standing homes. It’s a trend that aims to accommodate those who enjoy the conveniences of renting, but want more space for a growing family, a budding home business… or just more room to spread out and relax.
If you are a business traveler or frequent vacationer, you may realize that short-term apartments are quickly becoming the new luxury hotels. They may not have room service or housekeeping service, but many of them provide luxury amenities and perks that you simply cannot find in a hotel chain. Here are three benefits of renting rather than plunking down money for a hotel: