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Should I Buy a House Or Rent an Apartment In Fishers?

During the past decade, traditional wisdom in relation to buying a home or renting an apartment in Fishers has flipped on its head. Buying property provides for a source of pride and connectedness that you cannot get from renting, but it could also be an origin point for difficulty and serious costs. Renting may come with some added rules, but also allows for adaptability and financial savings home ownership doesn’t. Here are a couple points to think about prior to deciding to purchase a house or rent an apartment in Fishers.

Apartment building in Fishers

Money is Central

Costs, both upfront and continuing, can vary greatly between buying a house and renting an apartment. The house buying transaction is teeming with costs and fees that typically have to be given upfront - in addition to the down payment. There is first-year insurance fees, earnest money, property appraisals and inspections, and other various charges - all before your utility bills even kick in. That’s not even including the additional price tag for repairs and any remodeling you may need.

Renting has a considerably shorter barrier for entry. Normal renting upfront expenses include a security deposit, first month’s rent, and other assorted deposits or fees. While some say that money spent on renting is gone forever, money spent on a space to reside is never a loss.

Living room in Fishers apartment
Living Room at The Legacy Apartments

Room for Yourself and the Entire Family 

What you require out of your living area may be the key aspect in deciding if you should rent an apartment or buy a house in Fishers. The standard house floor size in North America is increasing, meaning more room for bedrooms or a nursery. A home will likely have grass for kids and pets to roam free and play in.

You can find apartments in various layouts and floorplans. Inside, you can get anything from a 1-bedroom to a 3-bedroom, but the apartments all come in fixed layouts. Your apartment will likely have walking trails and a dog park, and neighbors living right next to you. Of course, most houses don’t come with amenities like a stocked gym or swimming pool.

Repair in Fishers apartment

Maintenance Woes

While the versatility that comes possessing a home is remarkable, it does come with a few strings attached. Should a pipe burst or appliance break, it is up to you or a handyman you call in to make the repairs. In a complex, there is a trained maintenance staff that is always just a call away. Not only is having a maintenance specialist on-call handy, but it can also save you some sizable repair costs. Repair expenses are a part of your renting bill, while any replacements on a home come directly from your savings.

Freedom and Flexibility for Your Lifestyle

Your career and lifestyle can be determining factors in deciding to rent an apartment or buy a house in Fishers. Selling your home can be a lengthy, drawn-out process. If you work a job that calls for you to relocate frequently, taking on the selling process will likely be more trouble than it is worth. Renting an apartment is a more simplified process that doesn’t involve real estate agents or mortgages - only the apartment staff and you.

Ready To Start Finding For Your Perfect Apartment Space?

When you need an apartment in Fishers, your first choice should be Spark Apartments. We have spacious floorplans, attentive staff, and top-of-the-line amenities. Simply call (463) 210-1702 or click the “schedule a tour button” to discover your new home.
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