Pros and Cons—Which Community Type Should You Live in?

There is a lot of different kind of rental communities out there, so which one is the right type for you? Below we’ve outlined the different rental types and the pros and cons of each one. Read on to determine which type is best for you and your priorities.

apartment

Condo

A condo is very similar to an apartment in most ways, but how the property is owned and managed is different. Each unit of a condo is typically owned by a different person, although one person may own multiple units in a building. The owners can either rent out the units or keep them to live in on their own. As far as management, it varies, but the owner is typically responsible for managing their own unit. The HOA (homeowner’s association) takes care of things like maintenance, upkeep of common areas, and building rules.

Pros:

  • You can own your own unit
  • Rules are typically more flexible than with apartments
  • Maintenance is taken care of by the HOA or homeowner

Cons:

  • You’ll have neighbors—some next to you and some below and/or above you
  • If you own, you’re responsible for maintaining or replacing appliances

High-Rise

A high-rise apartment building is very similar to a normal apartment aside from the height. Being high Because of the high number of residents though, high-rises are sometimes able to have more community areas.

Pros:

  • You can have a great view of the area
  • Maintenance is taken care of by the building manager
  • Being high up means less street noise

Cons:

  • You’ll have neighbors—some next to you and some below and/or above you
  • Taking your pet out for a walk or taking your trash out takes a lot more time
  • Reliance on the elevators

Standard Apartment

What you think of when you think of an apartment—this is probably it. A standard apartment building is not too tall, but it has plenty of units to create a little community.

Pros:

  • With smaller apartment buildings, you’ll typically have less neighbors
  • Maintenance is taken care of by the building manager

Cons:

  • You won’t have flexibility with painting or putting holes in the walls for hooks and nails
  • You’ll have neighbors and have to deal with street noises

Townhome

Like condos, townhomes are owned by different individuals. Townhomes are full-size homes though and have multiple levels. They’re similar to single family homes, but they share at least one wall with another home (and usually two). With a townhome you don’t have to worry about noise from above or below, but you may still have some issues with noise from neighbors—although walls are typically thicker than apartment or condo walls.

Pros:

  • You can own your own home—it’s a good stepping stone to buying a single family home
  • You can usually paint and put in nails to hang up pictures and wall art
  • No upstairs or downstairs neighbors

Cons:

  • You may be responsible for more of the maintenance of the home even if you don’t own
  • The cost is much higher than other rental units

Depending on your needs—space, easy street access, decorating, etc., you’ll have to determine which community type is best for you.

Jordan McElwain

Jordan McElwain

Jordan is a digital marketer who enjoys learning new things and playing with puppies. Connect with Jordan on Twitter @jamcelwain.

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