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Should I Buy a House Or Rent an Apartment In West Lafayette?

In the past several years, traditional wisdom in relation to buying a home or renting an apartment in West Lafayette has turned upside down. Owning property allows for a cause of pride and connectedness that you cannot obtain from renting, but it can also be a source of frustration and serious costs. Renting may come with some added rules, but also allows for flexibility and financial savings home ownership cannot. Here are a few points to think about ahead of deciding to buy a house or rent an apartment in West Lafayette.

Apartment building in West Lafayette

Money is Central

Costs, both upfront and ongoing, can differ considerably between buying a house and renting an apartment. The property buying process is overflowing with charges that traditionally have to be paid upfront - in addition to the down payment. There are house appraisal and inspections, earnest money, first-year insurance fees, and other small bills - all before your monthly bills even kick in. Not to mention the additional costs of repairs and any remodeling you may desire.

Renting has a considerably smaller barrier for entry. Standard renting upfront expenses include a security deposit, first month’s rent, and other assorted deposits or payments. While some say that money used on renting is gone forever, money used on a location to reside is never a loss.

Living room in West Lafayette apartment
Living Room at The Legacy Apartments

Room for You and the Entire Family 

What you require out of your living area may be the critical aspect in determining if you should buy a house or rent an apartment in West Lafayette. The average house floor size in the United States is continually growing, meaning more room for an office or an extra bathroom. A house will likely have a backyard for kids and pets to run free and play in.

You can discover apartments in various layouts and floorplans. At most complexes, you can have anything from a 1-bedroom to a townhouse, but the apartments all come in fixed layouts. Your apartment should have have walking trails and a dog park, and neighbors living right next to you. Of course, most homes don’t come with amenities like a stocked gym or swimming pool.

Repair in West Lafayette apartment

Maintenance Woes

While the freedom that comes with possessing a house is incredible, it does come with a price. In the off chance that a pipe burst or appliance break, it is on you or a professional you call in to make the repairs. In a rental, there are maintenance professionals that is available 24/7. Not only is having a maintenance specialist on-call handy, but it may also save you some sizable money. Repair costs are included in your renting bill, while any fixes on a home come straight out of pocket.

Freedom and Flexibility for Your Way Of Living

Your career and lifestyle can be massive factors in deciding to buy a house or rent an apartment in West Lafayette. Selling your home can be a arduous, stressful process. If you work a job that demands you to relocate frequently, undertaking the selling procedure could be more taxing than it is worth. Renting an apartment is a more simple process that doesn’t involve real estate agents or mortgages - simply the apartment staff and you.

Ready To Start Seeking For Your Perfect Apartment Space?

When you want an apartment in West Lafayette, your first choice should be The Ivy Towns and Flats. We have luxurious floorplans, helpful staff, and top-of-the-line amenities. Simply call 765-300-4521 or click the “schedule a tour button” to find your new apartment.
The Ivy Towns and Flats
1900 Foxglove Way
West LafayetteIndiana 47906
Phone: 765-300-4521
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Office Hours
  • Monday  9:00 - 6:00
  • Tuesday  9:00 - 6:00
  • Wednesday  9:00 - 6:00
  • Thursday  9:00 - 6:00
  • Friday  9:00 - 6:00
  • Saturday  10:00 - 5:00
  • Sunday  CLOSED
Apartments Close to West Lafayette, IN
 
J.C. Hart is an equal housing opportunity provider.
The Ivy Towns and Flats
The Ivy Towns and Flats is a luxury apartment community located at Sagamore Pkwy W and Cumberland Ave. in West Lafayette. Owned and managed by the J.C. Hart Company, we're dedicated to helping our Residents feel at home. We offer various floor plans and amenities to fit any lifestyle, and our Residents love living near Purdue University.
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