What are New Trends in Renting an Apartment?

It’s no secret that the housing market has been changing wildly over the course of the last few years. In the last decade, housing prices have fallen drastically, only to rise again, rarely leveling out. This fluctuation has caused a lot of uncertainty and a lot of dramatic losses for some.

Another change that the housing market’s unpredictability has caused has to do with the way in which people look for housing. Gone are the days when people would rush into big down payments or scurry off to hire contractors in order to build themselves some kind of McMansion. These days, people are getting more creative with housing, and some interesting new trends are developing. 

Overall, one of the largest trends in housing has been the rise of the apartment. Apartments, once thought to be only for those on the low end of the economic scale and college kids, are making something of a remarkable comeback in these recent years, and people from all walks of life are choosing renting an apartment over owning a house.

Because apartments are often rented, more people are becoming interested in this option, as opposed to taking out a mortgage. With the economy the way it is, people are guarded with their money, now more than ever. This means that having a lease that is terminable after just a year is a much better option for some than getting tangled up in a mortgage.

Here are some other trends in apartment renting that may surprise or even convince you to give apartment-living a go!

1. Apartments are becoming popular as entire, insular communities. Much in the way that senior citizen communities are inclusive units in and of themselves, apartment buildings and complexes are following suit. Now, an apartment building is more like a neighborhood than a collection of disparate lives. Shopping centers, fitness centers, and all kinds of amenities, are popping up with or near apartment complexes, making them seem like tiny towns of their own!

 

2. People are beginning to treat apartments more like homes and less like layovers. New additions and construction on apartments in more popular than ever, with many apartment-renters looking to emulate the luxurious pads of people in New York and LA. 

 

3. Apartments are no longer just for college kids! More kinds of people than ever are finding that apartment living works just wonderfully for them. Sometimes, entire families will buy not one but two apartments in the same building, knock down some walls, and build themselves a whole house within the confines of an apartment building! Families, young couples, seniors, and every variety of person you can imagine could make an apartment work for them.

 

Most importantly, people across the spectrum are realizing that an apartment-style home is a great way to feel secure about your situation. Apartments offer flexibility and are much lower-risk than homes. While it may take some time for apartments to get a better reputation among the house-minded, there are many perks to living in an apartment. Check out what apartment living has to offer you, you might just be surprised!