June 8, 2012
-- "You're renting? Why don't you just buy?"
That may be an age-old question, but some of us just can't afford to buy. Renting is not only a viable option, but it can be an excellent avenue to start off in your own space – or upgrade from where you've been living.
Renting is a safe choice; you're not tied down to a property and real estate fluctuations don't affect you as much as they would the suburban homeowner. Plus, you can save up in case you do want to buy a property someday,
"If you need to move often because of a job, or if home values drop, living in an apartment is a safe, comfortable option," says John McGrail, CEO of Mayo Group, a real estate investment firm involved in urban development in Worcester, MA.
Just because you don't own your home doesn't mean you can't make it yours. Most property managers don't mind if you change paint colors or window treatments, although it's always a good idea to ask first.
"If you can make an apartment look better than when you moved in, why would anyone mind?" says McGrail, whose firm is responsible for the creation of apartment developments.
Redecorating doesn't have to be difficult or expensive. Putting up your favorite artwork can completely change the face of an apartment. Adding your personal photos, souvenirs, and memorabilia will truly make the space your own.
You don't have to feel like a temporary resident if you put your personality into an apartment, whether it be photos, unique wall hangings, a paint color that you love, or houseplants. Be you and make the space yours. Living in an apartment doesn't mean you can't put your personal stamp on the property. And remember, you're not going to be carrying a mortgage!