Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 6 months ago

Would it be dumb to live in an apartment for a long period of time?

I've spent the majority of my life (minus the first couple years of my life) living in apartments, and I honestly don't like the idea of living in a house.

I like small spaces, I like not having a yard to take care of, I like all of that. I've been in people's houses before big and small, and although they're pretty, I don't want to live in that kinda space.

If everything goes well, I will not be having children in the future either.

Would it be a bad financial decision to just continue living in apartments?

Update:

I also want to add that I want to live in a more urban area, not a suburban or rural one, meaning that apartments make more sense in that kind area.

Update 2:

Ah, buying a condo, now that sounds like a good idea, thank you.

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  • 6 months ago
    Favorite Answer

    I wouldn't say that it's dumb, but look at it this way: Let's say your rent is $1,000 a month. That's $12,000 a year. Let's say you've got a $1,000 mortgage payment instead. The difference is that one day, you'll actually own the place, so your money isn't just going to put a landlord's kids through college. If you prefer living in an apartment, that's fine. But buy a condo or a co-op. Renting for the rest of your life is definitely a dumb decision when you could own your own apartment. Then, when the mortgage is paid off, you won't have any other payments besides utilities and maintenance. If you wanted to sell the place and move, you could. Renting sucks because it's just money you'll never see again. If you don't want a yard, you don't need to have one. If you buy a condo or a co-op, the building will have someone on hand to take care of issues. You don't want to grow old renting. Plus, there's always the possibility that you might have to move. But not when you own the place.

    • Erik
      Lv 7
      6 months agoReport

      I'm guessing you don't live in LA.

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  • 6 months ago

    Not at all, if thats what you are comfortable with.

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  • 6 months ago

    Some people live in apartments for ever. You can both buy and rent apartments.

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  • Erik
    Lv 7
    6 months ago

    Whatever makes you happy. The advantage in renting is that it gives you much more flexibility in where you live.

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  • 6 months ago

    Horses for courses - if you are content with apartment living, why change the habit of a life-time?!

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  • 6 months ago

    If it suits you, don't question it.

    Personally I am happy living in shared houses. Private bedroom, but shared common areas. It is cheaper and less lonely feeling.

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  • Pearl
    Lv 7
    6 months ago

    i dont see anything wrong with that, im living in one now

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  • Judy
    Lv 7
    6 months ago

    Nothing wrong with apartment living

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  • Stoo
    Lv 7
    6 months ago

    Probably a better financial situation to buy a condo vs. rent forever, but that depends on local markets. But generally speaking, spending the same amount on a mortgage is better because you own the unit at the end of the day - rent you never will.

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  • Anonymous
    6 months ago

    Umm no not at all. You don't have to mow, or shovel snow, if any appliances brake just call maintenance.

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