So, you are considering whether to invest in a house or in an apartment? Congratulations, I am really glad for you! To give you the best answer to this question, I will consider two separate situations. In one, you will be renting out the house/apartment and in the other, you will be living in one of them. When considering house vs apartment situation, it is really important to consider several key factors.
Factor # 1: Location
In real estate, location is everything and you can use this to your advantage. If you are planning to rent out, you would do good to consider who will want to live there. Is the location near the center, so the commute is short? Is it so way out of town that only a few people would consider driving to work all that way? What you need to do is go around the neighborhood, see who lives there and consider who is it most suited for. If renting out, I believe that apartments win in this factor, due to them being at a much closer proximity to workplaces.
If you are purchasing the place for yourself, then it is a bit trickier. What you need to do is evaluate what will make you happy the most. Are you a person that gets annoyed with traffic and long commutes? If you are, do not go to places that are too far from your workplace, it will slowly but surely eat at you. Does the neighborhood have many animals and do you like that? How about access to services? What I am trying to say is that we are all different and there is no answer that will be the same for everybody. Evaluate yourself and figure out what is right for you.
Factor # 2: Space
For this factor, it may seem that houses clearly win. They simply tend to have more space that apartments and that is a fact. However, what you need to take into account is what will you be doing with all that space? Do you really need three bedrooms, do you see yourself spending time in every part of the house or apartment? When considering house vs apartment, most of it comes to personal preference. But, we humans are strange creatures. We like space. We like to have stuff, even if we do not use it. So consider if you are a person that values or would use all that space or would apartment suit you just fine?
With more space comes more responsibilities and more maintenance. But isn’t it nice when you can fit all the stuff you want to keep somewhere? Apartments usually end up filled to brim with stuff, over the years and you can just make yourself throw away any of it. Or you are completely different, you do not have much stuff and you are not emotionally connected with it. In this regard, house vs apartment = I have a lot of stuff and I need space vs Everything I have can be put in several suitcases. Furthermore, moving and storage Ontario companies can be of great assistance here.
If you are renting out, space is not that big of a factor, to be honest, so I will not dwell on it.
Factor # 3: Family Life
Even if you do not have a family yet, or are not even planning one, you need to consider will your new investment be capable of fulfilling your needs if you ever are to have one. You never know what life brings and you would do well to be prepared. Again, you need to consider your own habits, interests, hobbies, etc. When considering house vs apartment for your family needs, you need to start from yourself and then go on. You need to be happy, everything starts with that. Do you like or dislike saying “hello” to several people when you leave or come into your place? If you like it, an apartment might just be for you. If you dislike it, on the other hand, there is nothing better than having your own porch where you can sit back and relax, without any social pressures.
But not everything is about you, as much as we would like to think otherwise. You need to make sure to consider if kids would love the place. Is the place too big or too small for everyone? Is it a chore to clean and maintain? Apartments are usually much easier and compact to live in while houses tend to require more from you but offer greater comfort. It is up to you do put these factors on a scale and figure out what is best for you, there is no clear-cut answer. Make sure that reliable Ontario moving companies back you up with the endeavors of relocating to one or the other.
House vs Apartment: The Big One
This one is clearly in house’s favor and it is called: Expansion. You just do not have many opportunities to expand an apartment. We, humans, love expanding, in almost every sense of the word. While it is definitely possible to expand an apartment in some cases, in many cases it is not. Houses, on the other hand, offer ample opportunities for expansion. You never know if you will need that extra bit of space and it would do you good if you left yourself an option to do it. There is no contest here, you want to have an option to expand and houses usually give you that option.
Even if you are renting out, being able to expand is a great thing and you should consider it both in apartments and houses, it adds quite a bit of value.
With all of this said and done, there is actually no clear winner in the house vs apartment race. It all comes down to your personal preference and to the things that are important to you. As with everything else in life, everything starts with you and your closest.