The Path to Home Ownership Leasing with an Option to Buy
Are you looking at corporate apartments with a short term lease? Or perhaps you’ve been considering a luxury furnished apartment to lease with an option to buy. If you opt for renting, in addition to enjoying a country club lifestyle, there are quite a few rental amenities available with corporate apartments.
Many professionals choose to rent corporate apartments rather than purchase real estate. A recent survey showed that 25% of residents were actually renters by choice. The primary reason they provided was because they preferred living in an apartment rather than a house.
It’s interesting to note that 78% of apartment renters would prefer to pay their rent online. Another 63% indicated that if it were possible, they would be interested to pay with a credit card. These options can make it easier and more convenient to pay rent in a timely fashion.
When you schedule an appointment to look at apartments within your budget, it’s a good idea to ask to see several different floorplans. This can save you time and energy, particularly if you’re a busy professional. You may discover that some of the floor plans are more to your liking than others or have amenities that are must-haves.
For many residents, having mobile connectivity is at the top of the list for essential amenities. A recent survey showed that 53% of individuals on apartment tours actually checked to ensure there was sufficient connectivity. For 98% of apartment residents, having good reception is important; however, only 68% of the apartment residents stated that they had great coverage where they were living.
For some individuals, renting, rather than owning, assists them with staying within their budget. Furthermore, given that property managers oversee grounds and other typical maintenance needs, there is also less stress with renting than owning. This was the view of half of the renters that participated in a recent survey.
While the general rule is not to spend more than 30% of your monthly income on rent, this may prove to be challenging for college students. If you’re a college student that’s only working part-time, living on student loans, or drawing from minimal savings, then you need to find the best situation possible that you can afford. This is where finding roommates that are also dedicated to succeeding in college can make a significant difference.
In 2004, 31% of American households were renting. By 2012, this figure increased to 35%, and during early 2013, there were 43 million renters. In 2014, Census ACS data indicated that 36.90% of American households were composed of renters rather than property owners.
In addition to buildings with 2 to 4 units, 4 out of 10 rentals continue to be for single-family homes. Currently, renters are occupying 42.58 housing units. Over the next 10 years, however, Harvard’s Joint Center for Housing Studies predicts that over 4 million new renters will need housing.
It’s interesting to note that throughout their lives, Americans may move around 12 times. While many of these individuals may need to rent because they’ll be relocating for school or work, others are in search of a place to call home. When that occurs, chances are that they will want to purchase their own property. Until then, finding a luxury furnished apartment with all the amenities can feel like home in the interim.