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I'm moving to Charlotte in August (with a job already in hand, so no need to worry about that!), and have been looking around at places to live for the past few weeks.
Particularly I have been looking in the Plaza Midwood/Elizabeth/Chantilly neighborhoods as that seems to have the vibe that I am looking for. I am coming with my wife (no kids, and no immediate plans for kids), and we want to rent a small place. We were thinking a 1 or 2 bedroom apartment. While looking in those areas I was surprised to see so many small (2 bedroom) single family houses on tiny little lots. In terms of budget, I'd really like to be under 1,000 a month, say 700-900.
My question is this, what are the benefits or drawbacks to renting a house vs. an apartment/townhouse. I had never really considered it before, but it seems like a popular option in charlotte. I would assume that heating bills would be higher, but what else? I really don't care too much about the facilities (swimming pool, fitness center, etc...) that apartment complexes offer as I've never had them before. but what about security? I´ve read that apartment complexes in many areas seem to attract burglars - is it safer to live in a single family house? Again, in terms of space - we don't need a lot and have been urban dwellars all of our lives.
My wife and I have been renters for a while.We rented an apt until we had kids then rented a house.We always found a house to have more privacy,nicer to entertain/cookouts..etc and more space for the money. Usually with a house you will get a garage instead of just a parking space.We currently rent an 1800 sq ft 3 b/r ,3 bath, 1 car garage with big backyard and woodburning fireplace and central a/c in a quiet neighborhood (Pineville) for under $900!!
It seems to go in cycles, but right now due to the housing market you can probably get a good deal on a house or townhouse because many people are moving, but can't sell their place so they are basically willing to at least get something to help cover the mortgage.
On the flip side, apartment complexes have a ton of units to fill. Sometimes that pressure leads to allowing less desirable tenants to move in, thus leading to higher crime rates.
When I first moved here I rented an apartment and was perfectly fine. But, if I were moving here today, I'd prefer to rent a house or townhouse.
Good luck! This is a great city, I'm sure you'll love it!
I'm moving to Charlotte in August (with a job already in hand, so no need to worry about that!), and have been looking around at places to live for the past few weeks.
Particularly I have been looking in the Plaza Midwood/Elizabeth/Chantilly neighborhoods as that seems to have the vibe that I am looking for. I am coming with my wife (no kids, and no immediate plans for kids), and we want to rent a small place. We were thinking a 1 or 2 bedroom apartment. While looking in those areas I was surprised to see so many small (2 bedroom) single family houses on tiny little lots. In terms of budget, I'd really like to be under 1,000 a month, say 700-900.
My question is this, what are the benefits or drawbacks to renting a house vs. an apartment/townhouse. I had never really considered it before, but it seems like a popular option in charlotte. I would assume that heating bills would be higher, but what else? I really don't care too much about the facilities (swimming pool, fitness center, etc...) that apartment complexes offer as I've never had them before. but what about security? I´ve read that apartment complexes in many areas seem to attract burglars - is it safer to live in a single family house? Again, in terms of space - we don't need a lot and have been urban dwellars all of our lives.
thanks in advance,
dt
House benefits - more privacy, no shared walls to have to listen to your neighbors doing whatever they are doing, and depending on the complex/neighborhood you could be safer from crime in a house.
Drawbacks - you have to cut grass and do other yard work, you have to put out money for deposits to get electricity/gas accts in you name alone.
For my tastes, apt living is for the very young - it would never be my cup of tea again
Is there stability in renting houses? I would imagine that the likelihood is far greater that after your initial lease period, the owner might not want to renew if they desire to try to sell or move back in. In a corporate-managed apartment complex, you can stay as long as you want until you move on to your next dwelling. so it minimizes unexpected hassles.
I don't know. I keep hearing about the apartment complexes raising prices like crazy each year as well. I would think that if you rent a house and are a quality tenant, that represents a steady income for the family/person renting the house. dunno for sure though. When I rented in NYC it was just a 2 apt. building, and my landlords worked in the store downstairs. They didn't raise the rent in 5 years (back before the recession), though they certainly could have. They were just happy to have good (timely paying) tenants, and the steady income.
I don't know. I keep hearing about the apartment complexes raising prices like crazy each year as well. I would think that if you rent a house and are a quality tenant, that represents a steady income for the family/person renting the house. dunno for sure though. When I rented in NYC it was just a 2 apt. building, and my landlords worked in the store downstairs. They didn't raise the rent in 5 years (back before the recession), though they certainly could have. They were just happy to have good (timely paying) tenants, and the steady income.
I was told by an apartment manager that rates are going up in part because, with the housing market as it is, there is a higher demand for apartments.
Is there stability in renting houses? I would imagine that the likelihood is far greater that after your initial lease period, the owner might not want to renew if they desire to try to sell or move back in. In a corporate-managed apartment complex, you can stay as long as you want until you move on to your next dwelling. so it minimizes unexpected hassles.
If you pay the rent and take decent care of the place they will renew all day long. Most landlords have no plans of moving back and/or cannot/do not want to sell for anywhere near where the market is now.
You would think that was true but our experience was very different with a landlord that was strapped for cash and could barely make his mortgage payments. Frankly, we painted the entire interior at our cost to lighten what was a very dark interior, took care of the lawn and were great tenants. He in turn, "forgot to make sure we had new keys to the HOA pool area" (read, didn't pay his HOA dues on-time), hunted us for rent money even though we paid within the 3 day grace area (had to do with our payroll timing which we agreed to verbally) and when repairs were necessary - always responded late, needed to use his own people that conveniently couldn't be there for days and days so we went without kitchen lights for weeks, the stove was cheap, needed to be replaced and wouldn't bake properly, the watering system that he was supposed to cap and shut off leaked and our water bill went sky high ... and so on and so on.
The neighborhood was changing to mostly rentals due to the drop in home values and it got less and less desirable by the month ... not all housing rentals regardless of how good a tenant you are can be a "deal"! We learned deals were not deals at all. We now rent in a well-managed townhouse community that offers us 7x24 emergency service if needed, a responsive maintenance crew and a competitive rental rate. We did give up a yard, but have great public spaces, a playground within 200 yards, a newly renovated gym and 3 pools to choose from. Don't regret walking away from our rental house at all.
Last edited by D2C21GC; 06-07-2011 at 05:16 PM..
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Just moved to area...renting.
