Renting an Apartment in Albany: The New Buying

Posted in News & Updates

When most people think of the typical cliché “American dream” from years ago, many see visions of owning a house with a white picket fence, while children run around in the yard, chasing after the family golden retriever. Fast forward to today and the cliché “American dream” probably doesn’t sound as appealing as it used to for a lot of people. With renters accounting for 37 percent of all households, homeownership may be a dream for some people but it’s not for everyone.

Here are some reasons why renting an Apartment in Albany is better than buying:

1.    Lower costs
While you don’t build up home equity by renting, your costs might still be lower. As a renter, you don’t have to worry about many of the costs associated with homeownership including property taxes and maintenance and repair costs. As an added befit, renters also don’t have to pay a large down payment.

2.    Flexibility
The process of moving into an apartment is much simpler. In order to move in, you need to fill out an application and pay any upfront costs but the landlord handles the rest. You also have added flexibility in that if your life changes and you need to move, it’s going to be much easier and less stressful for a renter to move than for a homeowner.

3.    Less maintenance
As a renter, your landlord or property manager is responsible for handling much of the maintenance associated with the property. While homeowners need to mow lawns, clean pools and are responsible for repairs, renters have their landlords to handle most of that maintenance for them. Landlords are responsible for general property upkeep and for making any larger repairs that may be necessary.

4.    Meet new people
Living in an apartment complex provides you with many opportunities to socialize with other tenants. If you’re new to the Albany NY area or want to meet new people, you’ll have plenty of chances to meet your neighbors at the pool, on-site fitness center, yoga/dance studio and elsewhere around the grounds.

Depending on several factors including your age, your lifestyle and where you are in life, renting an apartment may be a smarter choice for you than homeownership. If you’re searching for apartments in Albany NY area, consider Albany Lofts at One Broadway.  With spacious apartments located just minutes from Downtown Albany, Albany Lofts at One Broadway are the perfect place to call home. For more information about the amenities, features and rental options available at our apartments in Albany, NY complete our contact form or give us a call at (518) 618-3432.