With the uncertainty of the housing market, it may make more sense to rent vs. own. After all, during the initial five-year period of owning a home, the owner’s money is essentially just being given over to the bank. By the time that period of time is over, almost 33% of homeowners end up selling before they start to accumulate substantial equity in their homes.
And because owning a home does not even currently see the kind of return-on-investment that stocks do, living in a loft through a rental agreement may make sense because of a lack of risk and a typical monthly savings of $560.
With that in mind, it may be that you are more suited for city living, and in particular loft apartments for rent. Because certain utilities like heat and water are sometimes included, it may make more sense financially for those who are moving to rent. The renter also has less tasks he or she has to do with regard to upkeep of the property. Living in aloft in particular may provide the opportunity for a kind of luxury living you wouldn’t necessarily have access to otherwise.
If you are considering apartments in Philly, you may want to consider that the Pennsylvania unemployment rate is of 7.7% is rather low. If you have further questions, comments, or tips regarding city living, be sure to share them in the section below. For more information, read this website.