Renting a house vs renting a appartment?

[Deleted]

What is the difference between renting a house vs renting an appartment?

It seems a few houses in our area goes for what we are willing to spend on an appartment for our next move and we have been thinking about it.

We feel maybe they are some hidden expenses somewhere. We are paying $1,670 for a two bedroom and yes I admit it's in a luxury appartment complex but we have seen houses with 2-3 bedroom going for less ($1,000 - 1,200).

A few questions:
1. So are they some hidden fees that we are not seeing?
2. Is is really possible that we can rent a house for less than we are renting now?
3.What are the things we are looking for?
4. We have been looking on craigslist, but where else would someone advertise about having a house for rent?
5.- Would someone be willing to hold a house for us till June if we find one we like withing the next month or so (we have to give a 60 days notice to the leasing office for our current appartment). We understand we might have to pay a deposit to guarantee our spot but for the right place will not be an issue.
6. We do have the money ready because within 3 months after being in our current appartment I know we would not be there for long, so been saving for the eventual moving date. yes, expensive lesson moving into our current place. Over $20,500 expensive... live and learn

The reason we are looking at houses are:
a) They go for the same amount we are looking for a 1 bedroom
b) they might save us another move in 2 years when we decide to have a child or not since we would already have the house with the spare bedroom
c) We would still be able to save money and be done paying our debt ahead of time.

[jeffreymo]

I could be wrong, but I think with some home rentals the renter is responsible for yard upkeep, and snow removal - not all, but some.

[TD2K]

I've lived in townhouses where we were expected to keep up the yard maintenance.

I don't know if there are any 'hidden' fees. You would have utilities but that's no different from a lot of apartments. Taxes are the only thing but that would typically be picked up by the owner in my opinion. Around here houses seem to rent at a substantial premium to apartments but I doubt I'm looking at the level of apartments you are talking about. Only way is to look at a couple of ask to see the rental agreement and look at what fees they discuss (or don't).

[stats45]

We're looking at this right now, and here are some of the things we think about. We are leaning towards renting a house rather than an apartment if we find the right rental. These are things I have found, and someone in a different area or with more experience probably has other important things to consider.

1. No real 'hidden fees' because the lease contains the legal relationship in both cases, but houses can be more difficult to maintain. Who does the lawn? If an $8 faucet seal breaks, are you going to wait for the landlord to fix it, or are you going to just drive to Home Depot and do it yourself? What if it is something larger?

2. Yep. I see it all the time. What I am seeing in my area though, is that comparable house rentals to apartments might have more space but not quite as nice finishes (granite counters, newer appliances, etc.). They are usually a bit older construction than the apartment. That does not necessarily have any correlation to quality, however, in my experience. I'd rather be in a well-built home made in 1990 than a brand new apartment complex that was rushed and poorly constructed.

3. I would be looking for something that meets your family's needs and desires. Also, I would check crime statistics (many places now let you see crime in the immediate area on an interactive map), schools, and distance to work, shopping, etc. Once you have general areas to look, then start looking for houses. I think it is easy to fall in love with how a house looks on the outside/inside and lose track of all the little things that help to determine quality of life, so start with those things and then look for specific houses.

4. There are other housing rental sites on the internet. I'm on a different computer (and I can't remember them), but there are many websites that give a lot more options for renting, and they were as easy to find as 'houses for rent (area)' in a Google search.

5. Maybe, remember that landlords often ask their tenants in advance if they will renew so that they have time to search for a new tenant if they need to. You may find people advertising now who are looking for a tenant even beyond June.

For us, the real difference between renting a house and an apartment is lifestyle. Housing developments in the area are a little further away from the large city nearby, quieter, and better maintained. They are usually in lower-crime areas, and the people we know live there. I'm sure these things will vary place to place.

Good luck!

[alabamagal]

Yard upkeep could be an issue. Also just other general items you can get with an apartment, pool/clubhouse, workoutrooms etc. Also, with an apartment you generally get a professional management company, which may or may not be good, but you will get consistency. With an individual, you are more likely to have problems getting maintenance response and other issues resolved, although you could luck out and get a super landlord. It is harder to know what you are getting into

[Anne_in_VA]

We rent a house and used to rent an apartment. Jeffrey is correct, in most rental houses you are expected to be responsible for yard upkeep as well as minor repairs around the house. DH is very handy and has done a lot of minor repairs as well as a few not so minor ones. We've been in this house about 3 years and our landlord has not raised our rent at all but I'm sure that's because we've kept the place up and haven't given them any headaches at all. We're on time every month with the rent and we even pay the first $50 of any repairs needed.

I've put in additional flowers and landscaping, but that's because I love gardening. I realize that the work we've done enhances this home for our landlord, but we like it here and will probably stay at least another year or two. This is a two story, 3 BR, 2 ba house with a garage.

There are some things I wish my landlord would do that were promised when we originally looked at it - the window seals are broken and she promised to replace the windows, but that hasn't been done. We had to bug her for months to put in a new thermostat because the old one didn't work properly. We have a fireplace in the LR and it hadn't been used in over ten years by the previous tenant and it was missing the chimney cap. She wouldn't get the chimney cleaned or have the cap replaced for over 1-1/2 years.

It really bugs me that she's getting quite a bit of rent for this area, but is very slow to make repairs or doesn't do things at all. That's probably the biggest reason we'll move in the next couple of years. I'm also over 60 and have arthritis, so it's getting more and more difficult going up and down the stairs. Our next house will be a ranch style.

[The Walk of the Penguin Mich]

The biggest advantage (other than the possible increased utilities) is the loss of the maintenence and the other facilities. If I call my complex in the morning because my faucet is leaking, it'll be repaired when I get home. Maintenence also does all the yardwork and plowing/shovelling of snow. I do not have the equipment to either mow grass or remove snow, so these would be additional expenses. IOW, I have absolutely no responsibility for the upkeep and quite frankly, I don't have the time for it.

The other advantage is that they'll accept packages for me if I'm not home. It sounds trite, but this is a HUGE advantage as I'm usuing more and more online companies.

The pool and the workout facility don't go unused by me either.

[phil5185]

5.- Would someone be willing to hold a house for us till June

The only way to 'hold' one of my houses is to rent it. (I don't care if you live in it between now and June).

[cronewitch]

You will have more utilities in a house like sewer and garbage. You will also want more things like a picnic table and yard care equipment and plants. You will buy more furniture too and then you will need to always have more space. It is a nice step between renting an apartment and owning a house.

[Small Biz Owner]

Ever consider buying?

[schildi]

Yard upkeep and utilities comes to my mind as higher cost outside of the rent.
If you plan on staying at that place for > 5 years, I would seriously consider buying.

[HappyLady]

Utilitites tend to be more expensive in a house as well. I assume that it's because with an apartment, you have walls that lead to other apartments, so there isn't so much cold air coming in, causing your heat bill to skyrocket in a house! A lot of times water is included in an apartment as well, but you need to pay for it yourself in a house.

[Deleted]

You'll need to read the ads carefully.

As a landlord of 4 single family homes I typically pay for yard (and spa) care; it's in the ad. But you as a tenant pay for water, electric, gas, sewer and garbage.

It's a life style difference. It's nice to not have common walls, cielings and floors. But if you are thinking about renting a house and the LL isn't going to pay for gardening then who does; you or wife? Make sure you're on the same page.

Good luck!

[DVM gone riding]

don't under estimate the value of a landlord that does what bonnap does-incl lawn care in the rent cost, these tend to be good landlords that want stable tenants and plan to keep the place nice for eventual resale value

I agree with everyone else lifestyle choice is the biggie, you don't get a pool and a gym and a maintenance team, you do get a yard and a garage and neighbors but no connecting walls!!

The only way a landlord will "hold" a place is if you find one of those places that say "available June 1" then they know the tenant is leaving and won't expect you to pay rent till then, they will expect you to sign a contract and possible pay a deposit (most likely) My LL was willing to wait about a month which actually was very generous of him since I only could guarantee I was staying for 3 months. (I stayed for 9)

[Deleted]

You generaly pay more and more for utilities... What is the heat source like?

[debtheaven]

Over $20,500 expensive... live and learn

Again, I would just stay put. Why is your wife so antsy?! This is where she insisted on living in the first place! Then you want a 1BR in the same complex, now you want to rent a house elsewhere?! Next post you will have found the perfect house to buy.

Because your high-maintenance wife would be THRILLED to rent a house with somebody else's decor, garden, and tools. She'll just LOVE the plastic garden table and chairs that MAY come with the house, if you're lucky. If they don't, you're likely to be looking at teak or the new sustainable wood instead of plastic. I'm sure there are affordable rental homes in your budget, but I think it's unlike your wife OR YOU would be happy to live in them.

Carl, you have always led us to believe that your wife was never satisfied with what she had. I'm beginning to realize it's BOTH of you!!! At least PART of you has been using your "spendy wife" as an excuse to get what you really want too.

Why can't you just put it on "set it and forget it"?! Even if you do indeed "learn from your mistakes" and pay HALF of what you paid for the last move, you'd still be out over 10K, plus all the things you now NEED because you are in a house rather than an apt.

I think you could probably teach your wife a lesson about being happy with what you have, if you embraced that. But the bottom line is she doesn't, and neither do you.

ETA: And frankly, what's with the full body shot?! And you young'uns who aspire to higher management, the boobies and butt shots may come back to bite you in the butt (no pun intended). There is a time and a place for everything.

[swamp]

"$20,500 expensive to move"

What exactly does this $20,500 consist of? Please tell me you are including rent in that calcuation........

[debtheaven]

Carl, do you know "TED talks"? I do them often with my business students.

Google it, check out Don't Eat the Marshmallow Yet.

It is brilliant. In that study (originally done on Americans, recently replicated by this Spanish researcher with Hispanics) the SINGLE greatest determinant of success later in life was THE ABILITY TO DEFER GRATIFICATION.

I know the scientific / statistic people may well rain down on me, I am neither a scientist nor a statistician, I can't judge that study in those terms.

But it is just common sense!!! If every time you want something NOW you get it, you sacrifice the future.

[ZaireinHD]

renting a house never made since to me? you have all the responsibility of owning a house while paying the actual owner. who is laughing his/her ass off at all the profit being made.

[restless]

Carl, do you know "TED talks"? I do them often with my business students.

Google it, check out Don't Eat the Marshmallow Yet.

It is brilliant. In that study (originally done on Americans, recently replicated by this Spanish researcher with Hispanics) the SINGLE greatest determinant of success later in life was THE ABILITY TO DEFER GRATIFICATION.

I know the scientific / statistic people may well rain down on me, I am neither a scientist nor a statistician, I can't judge that study in those terms.

But it is just common sense!!! If every time you want something NOW you get it, you sacrifice the future.


Thank You! Never heard of TED and now I'm hooked! The video of the kids was awesome!

[Deleted]

Mar 6, 2011 17:24:23 GMT -5 @debtheaven said:

ETA: And frankly, what's with the full body shot?!

There was an ad campaign here (France) 25+ years ago, a beautiful woman on a billboard, topless, in a bikini bottom. The slogan was, in two weeks, I take off the bottom! This was before the internet, cable, etc. EVERYBODY was talking about it! Two weeks later she did indeed take off the bottom, but she also turned around, so you only saw her butt. LOL

And you young'uns who aspire to higher management, the boobies and butt shots may come back to bite you in the butt (no pun intended). There is a time and a place for everything.

When my job hired me they were quite aware of my full body pics floating around and so far I have not had an issue with it. I believe everyone that I work with that is linked to me on facebook, bodybuilding.com, picked a certain Issue of Muscle and Fitness and Natural Bodybuilding last year would have seen me whith nothing more than a posing trunks which barely cover a bit more than a thong would.

I was forward with it: some people read as hobbies, fish, collect coins ... I step on stage once or twice every couple of years and compete in Natural Bodybuilding shows. And it requires the guy to have nothing but a posing trunk or the woman when my wife participated last year a swim suit (one piece or two piece).

If that put a stop to my corporate career, so be it but no one at my job or my boss for that matter can faint ignorance. My hobby is no different than others, just requires me to step on stage half naked.

So yes most of my pictures or profile pics on every site I am tend to be "progress pictures" and on others I have no issue showing my face (bodybuilding or facebook) since everyone around me (family, friends, co-workers) are quite aware of it.

I've met lawyers, doctors and other professionals along the year that participate in the sport and have appeared on well know magazine or have it on their profile page. And you are usually on stage with god knows how many people taking your picture or recording... so if that was my worry, I would have picked the wrong sport/hobby to be in.

But I appreciate the warning

[Deleted]

Mar 6, 2011 17:35:08 GMT -5 swamp said:

"$20,500 expensive to move"

What exactly does this $20,500 consist of? Please tell me you are including rent in that calcuation........

Yes, that includes rent of $1,670. ;D

I appreciate all the responses, etc.

But for some let's remain on track: I did not say we were going to get a house to rent, we were just considering our options.

We are definitely moving from our current location, just did not find a place yet. The one bedroom in the same complex is definitely in the running but we have not made up our mind.

In our search we've found houses that were renting for the same amount we could be renting an appartemnt and it started a conversation. All I wanted to know were the pro's and con's.

We are not going to be
-> spending more, we are looking to cut back
-> getting everything we want since again we are cutting back

Our price range is anywhere from $900 to $1, 250 (currently paying $1,670 + water, gas, heat and electricity). So it is not about moving on up or just spending our money as fast as we make it.

I wanted to get all the pro's and con's about renting a house vs an appartment so my wife and I can make an inform decision. Please stay on track, thank you.

[Deleted]

You have to look at the indivdiual situation. You need to ask what is included, and what responsiblities you are expected to handle yourselfs. IE. yard care... do you need your own mower? ... You need to ask for prior utility payments so you have an idea of what they cost. Look at heating specifically. I have friends who rented a place and come winter were surprised by an inefficient furnace and 800$ a month oil bills...

It is difficult to stay on track when you seem to jump from one to the other... i still don't know why you are moving? How much do you estimate this move will cost?

[Knee Deep in Water Chloe]

Personally, I was done with living in a mutli-family complex in 2004. I don't want to share parking, walls, etc. I have gotten close to a place where I have to financially reconsider this, but not all the way there.

I am currently a landlord of two houses and I rent the house I live in.

As a renter, I did put down a deposit and the management service held this house for five weeks before we actually moved in. It went to the overall deposit and not towards "rent". I currently pay water and garbage as the renter.

As a landlord, I want good renters--not everyone is as cool as I am. I pay for water and garbage service. I do not pay for landscaping and have a clause that stipulates the lawn must be well-kept. I do only pay for the first $50 of the water bill, which will keep the front lawn green throughout the summer. I also allow painting of the inside walls in my houses. However, I do not paint over the walls when new renters move in.

Good luck. I know it's hard for me to make decisions like this.

[Knee Deep in Water Chloe]

Oh, in one of our houses, because of the HOA, basic cable is also included in the rent, since I have to pay it anyway.

Every place is different.
I also allow pets, because I have a dog and know it's hard to find places that allow pets.

[Deleted]

What do you get at a luxury apartment that you would not get at a house and how much would that cost to get outside the house?

[greeneyedchicka]

I currently rent a house. I moved from a rental townhome into the house four years ago.

I am responsible for all of the yard work (1 acre lot) and snow removal and associated costs. I have also done a lot of minor repairs to the house. I believe it looks better now than when I moved in. I do not have to pay for water or garbage removal, as it is not a cost in my area.

My rent is lower than what I would be paying in mortgage in my area. I had the intent of only staying for two years and then buying, but it hasn't worked out that way.

A few things that have worked out for me with the house is that my landlords are an older couple that are very easy to get along with. They lowered the posted rent amount, so that I could move in because they liked me best out of all of their applicants. Then they lowered my rent again when oil prices sky rocketed two years ago (oil heat). My rent has been the same since.

I also love having my garage and not having to share walls with other people. I have a teenage son that has friends over a lot, so I am sure not having neighbors right next door is good for them too.

A few things that I don't like are the fact that since my landlords are older, they tend to be slow with repair items. Water leaked into the basement from behind the front porch steps, it took them from last winter to the spring "when things thawed out" to even look at it. It took them until this winter when it leaked again to finally do something about it. My usual wait time for when things break to when they are fixed is three or four weeks. They don't bring in professionals unless it is electrical or something to do with the furnace. All other things they fix themselves and often do a half a** job. This is why I have done a lot of minor repairs myself.

As far as extra costs, I had to buy a lawn mover, snow removal equipment, rakes, shovels, etc. I also have to pay for mulch each spring. I had enough furniture for the place, so that wasn't an issue, but they do require that 75% of the hard wood floors are covered with rugs, so I had to purchase area rugs before I moved in. Oil prices are crazy right now, so paying $500 a month for oil on top of gas and electric can be quite draining. Since it is an older home (built in the 40's) it is not very well insulated. One more thing is that the electric has not been updated, so it is still 110v, meaning I can't run space heaters (to help with heating costs) or any other item that requires higher than 110v.

I also have pets (three cats, a hamster and a bird), which they allow with an extra security deposit.

[Urban Chicago]

We rented a house when I was in High school, every other time I've rented was in an apartment. It was nice, but I'll give you a couple of caveats:

1. You WILL accumulate more stuff, since you likely have a lot more storage space.

2. Maybe this was just my town, but many of the house rentals did not include use of the garage. I guess the landlords needed them for storage. Therefore, even though all the houses had garages, most people still had to park on the street.

3. I forget where you live, but water could be a much bigger expenses than you'd think. Be sure to ask your house-owning neighbors how much water costs.

4. Yes, you will have to fix some stuff yourself.

5. You'll still have neighbor issues, especially if everyone around you owns instead of renting. We were a quiet, clean family but our neighbors assumed we'd trash the place and get wild every weekend just because we were renters.

[Peace77]

There are positives and negatives to apt. and houses.

Positives for a house
No sharing walls and hallways with neighbors. Not having to smell someone else's cigarette smoke, burnt food, or whatever they had for dinner.

Usually you don't have to worry about finding a parking space.

You can have a yard, space to grill and eat outdoors.


Negatives
There are no fancy amenities. You won't have access to an exercise room, clubhouse, hot tub or pool unless you pay for those at a club or gym.