It has been observed that people who buy apartments end up regretting their decision. There are several reasons behind this, and this article will try to throw light on some of those decisions. Before taking any decision, you must be well aware of the circumstances and aftermaths of both. As the decision is going to be entirely yours and no one knows better than yourself that what is good for you and what is not.
First reason for sure is the expense one, as rent is much less than the price of the apartment itself, so do take into account this. People counter this by saying that they get mortgage, which is correct that you would get mortgage but then too, you must have at least 20% of the price, and even if you are lucky enough to get a much cheaper mortgage, then the interest rate would be very high.
These were the expenses before moving into the apartment place; now let’s compare the expenses after the moving process. If you are on rent then you would have a carefree life and if you are fortunate enough to have good neighbors then you can arrange parties at your place, but that too if you have excellent terms with the landlord. The thing that must be understood is that if you break anything by accident or something breaks down itself you don’t have to pay for it. On the other hand if you own the apartment, it would be solely your responsibility to fix and maintain each and everything.
A wise man once said with power comes the responsibility, which is very true in this case as once you are the owner you must be committed to your place and must take all the responsibility for it. People often come up with the argument that how often do these things happen, how often do something gets broken down or needs to be fixed. For those people it is said that try to own one of the Charlotte apartments and then you would come to know yourself that how hectic is to maintain a place. As every now and then some water heater would be broken or a pipeline would be leaked. Even if all things are in order you still need to paint the house each year, so the maintenance cost of the place increases dramatically and if you are not financially sound and strong it becomes very difficult for a person to maintain an apartment. On the other hand if you are living on rent, all you would need is to inform your landlord and he would get the thing fixed for you as early as possible. So owning an apartment for sure is a sigh of relief but maintaining it is very difficult.