See our COVID-19 updates for Residents, Guests, and Associates. Learn More.

Should I Rent An Apartment Or Buy A House In Fishers?

In the past several years, common financial wisdom in respect to acquiring a home or renting an apartment in Fishers has been spun upside down. Buying property provides for a point of pride and connectedness that you cannot derive from renting, but it can also be a source of frustration and steep costs. Renting may have some constraints, but also creates room for adaptability and financial savings home ownership does not. Here are a couple points to know before deciding to purchase a house or rent an apartment in Fishers.

Apartment building in Fishers

Money is Central

Costs, both initial expense and ongoing, can vary greatly between renting an apartment and buying a house. The house purchasing process is teeming with charges that traditionally have to be collected upfront - in addition to the down payment. There are house appraisal and inspections, earnest money, first-year insurance fees, and other small fees - all before your ongoing bills even start. That’s not even including the supplementary prices of maintenance and any remodeling you may need.

Renting has a much lower barrier for entry. Typical renting upfront fees include a security deposit, first month’s rent, and other various deposits or payments. While some say that money spent on renting is gone forever, money used on a space to reside is never a loss.

Living room in Fishers apartment
Living Room at The Legacy Apartments

Space for Yourself and the Entire Family 

What you require out of your living space may be the determining consideration in determining if you should buy a house or rent an apartment in Fishers. The typical house size in the United States is trending upward, meaning more room for bedrooms or a nursery. A house may have a yard for kids and pets to roam free and play in.

You can discover apartments in various layouts and floorplans. Inside, you can find anything from a 1-bedroom to a townhouse, but the units all come in fixed layouts. Your apartment will likely have walking trails and a dog park, and residents living in the unit next to you. Of course, most houses don’t come with amenities like a fully equipped gym or swimming pool.

Repair in Fishers apartment

All the Bells and Whistles

While the freedom that comes with having a house is remarkable, it does come with a price. Should a pipe burst or furnace break, it is up to you or someone you call in to make the repairs. In a rental, there is a trained maintenance staff that is always just a call away. Not only is having a maintenance professional on-call handy, but it will likely also save you some big replacement fees. Repair fees are factored into your renting costs, while any repairs on a home come directly from your bank account.

Flexibility for Your Way Of Living

Your profession and lifestyle can be massive factors in whether to buy a house or rent an apartment in Fishers. Selling a house can be a lengthy, stressful process. If you work a job that demands you to relocate routinely, undertaking the selling process will likely be more trouble than it is worth. Renting an apartment is a more simple process that doesn’t require any real estate agents or money lending - just the apartment staff and you.

Ready To Begin Seeking For Your Perfect Apartment Space?

When you want an apartment in Fishers, your first choice should be The Hamilton Luxury Apartment Homes. We have roomy floorplans, helpful staff, and sublime amenities. Simply call 317-900-4375 or click the “schedule a tour button” to find your new home.
View Floor PlansSchedule a Tour