You know you want to buy a home sooner rather than later, but you’re not quite ready. Maybe you’re still saving up a down payment, you’re not sure where you want to live, or you don’t know exactly what you want in a home. Rather than rushing into buying a home and ending up with buyer’s remorse, we’re sharing why renting an apartment in Uptown will better prepare you to buy your dream home.
Renting Allows You to Save Up More Money
One of the biggest benefits of renting is that it’s often less expensive than purchasing a home, especially when you factor in utilities, taxes, and insurance, so it gives you a better opportunity to save money. Renting a cozy one-bedroom apartment for a year or so, or getting a roommate to split the cost of a two-bedroom apartment allows you to put money aside for a down payment and closing costs, pay off bills, and improve your credit score, so when it comes time to buy, you’ll have a better chance of getting approved for a mortgage in a more advantageous price range.
Research What You Want in a House
Do you want a low maintenance, newer condo with views of the city, or are you dreaming of a historic house or a large yard? Taking the time to look at a variety of houses, create a list of “must-haves” and a list of “like-to-haves” and giving yourself permission to change your mind can lead to improved satisfaction when you do choose to buy a house.
For example, maybe you thought you wanted a new condo, but renting in a historic building surrounded by older homes has you falling in love with custom Craftsman-style houses with hardwood floors and arched doorways. On the other hand, maybe you once dreamed of buying a fixer-upper but after enjoying the freedom of renting and spending your free time at the lake or at brunch rather than mowing the grass and painting has you longing to maintain your low-maintenance lifestyle.
Find the Perfect Neighborhood in Minneapolis
In addition to considering what you want in your house, renting is the perfect opportunity to discover where you want to live. Find an apartment in Uptown, MN or another neighborhood that appeals to you, and you’ll get the opportunity to “try before you buy.” This is especially important if you’re fairly new to the area or you’re living out on your own for the first time because while you may have your eye on a bustling neighborhood that’s just a few minutes from work, you may come to find out that you’d rather live someplace quieter, even if it’s further out. Conversely, you may have been drawn to a quiet, peaceful neighborhood only to realize that you have a 20-minute drive to get anywhere.
Rent an Apartment in Uptown, MN Today
If you would like to rent an apartment in Uptown, reach out to Stutsman Realty, today. We have several apartment buildings in the Uptown neighborhood just a few blocks from Bde Maka Ska in sought-after historic buildings. Call us today at 952-927-4144 or fill out the form below to learn more.