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Top 5 Advantages of Renting Vs. Owning

Owning a home may be a lifelong goal for many Americans but that does not mean it is for everyone. After all, homeownership comes with inevitable headache and responsibility, which is why renting is a valid and appealing option for many! Here are five of the biggest benefits renting has over owning…

1. Smaller Upfront Cost

The average American pays about 6% of their home’s value for their down payment, so even on a moderately-priced home, the upfront cost of buying a home can be substantial.

While there are also upfront costs to renting (security deposit, pet deposit etc.), the cost of moving into an apartment should be far less compared to what you would spend on a home purchase.

Ask us about our current move-in specials to save even more money when you sign a new lease at Hohm Highlandtown Apartments!

2. Access to Amenities

Most modern apartments feature several amenities for their Residents to enjoy. Hohm Highlandtown Apartments offers our Residents a fitness center, Resident  lounge, complimentary Wi-Fi, coffee bar, pet spa, bike storage and more! The best part is that all these amenities are included in the monthly rent! To have access to the same type of amenities as a homeowner would require expensive installations or monthly membership costs.

3. Lower Maintenance Costs

Owning your own home means you are responsible for all the repairs and seasonal upkeep yourself. From shoveling the snow to cleaning the gutters to changing filters, a home’s maintenance never ends. On top of standard home upkeep also comes the cost of repairs, from smaller electrical repairs all the way up to costly roof and foundation repairs.

As a renter, maintenance and repairs are someone else’s responsibility! There is someone else to shovel the walk, someone else to call in the middle of the night when there is an emergency and someone else to hire the contractors. As a Resident of Hohm Apartments in Baltimore, you’ll enjoy 24-hour emergency maintenance, a professional on-site team ready to help, and the confidence of renting from WPM Real Estate Management - a well-established, award-winning management company that puts its residents first. 

4. More Free Time

Time is our most valuable resource, and the way that we choose to spend our hours adds up to the way that we spend our lives. Renters spend less time on household upkeep and home projects, which means more time for rest and leisure! Spend your free time enjoying all that our location in Highlandtown has to offer - from First Friday Art Walks, to Kite Fest at Patterson Park, to The Great Halloween Lantern Parade and more!

5. More Flexibility

A lot can happen over the course of a 30-year mortgage. You might need to relocate for a job or want to be closer to an aging parent, or you might simply want a fresh start. Yet again, renting has a distinct advantage compared to owning as it offers more flexibility to the resident. If your circumstances change, and you need to move, it is much easier to get out of an apartment lease compared to a home mortgage.

Come Home to Our Highlandtown Apartments!

Reap the benefits of renting for yourself! Hohm Apartments is NOW LEASING studio, one-, two-, three- and four-bedroom apartment homes in Baltimore! Ready to make yourself at HOHM? Explore our availability and call to schedule your tour today!