[Amanda]

Everybody mentions the “hidden cost” of owning vs. renting because of maintenance.  We will be back in an apartment for a year and lemme tell ya,  there’s a TON of hidden renter costs I’m coming across as well.   Our home was $2,500 including money set aside for repairs.  This apartment has pushed our housing to around $3,000.  A few examples just in the first month…

Electric and internet is 2x because there’s only two providers, plus I can’t make energy efficient upgrades

Storage unit or paying for an extra bedroom because you have no garage for things like camping and fishing supplies to keep cheap entertainment

Tiny kitchen/fridge required me to lose many prep items like the meat grinder that let us make ground beef for $1-2 lb.  Probably 3x on grocery now that I can’t stock up and store when things are on sale, buy bulk, or have freezer meals.

Higher insurance on the vehicles and no safe place to put them in storms/dings and scratches from general parking lot nonsense.  I anticipate more claims.

Required extra subscription to things like Ring for the entry gate, not optional concierge trash, etc.

Time with friends is more expensive since we need to always go to their place or meet somewhere like a restaurant that has a fee attached where people can fit.

[Dexter]

Rent is just setting money on fire. No equity being built. Might be easier or less stressful now but when your 65 and retiring you’ll wish you had a paid off home.

[Eva]

Sounds like the unit you selected just has a bunch of hidden fees/costs. I love renting vs owning. Your experience has definitely not been mine.

Buy a small chest freezer.

No landlord will deny weather stripping.

[Ceirra]

You just chose a bad place to rent. There are better places.

[Missy]

I will never buy a house again. It was a pain! We rent but always seem to find the best landlord and good rent. The comments about not being able to pay rent when you retire makes no sense to me. When I retire I don’t want the responsibility of up keep and maintenance on a house.

It’s a great trade off for me.

Recommended: Second home vs. market investment: pros and cons?

[Tracy]

Apartment life isn’t for me either, but you can also rent houses that have garages and yards. Part of your hidden fees sound more apartment rather than rent related.

[Patricia]

I prefer to own. Renting to me is a waste of money. You’re not building wealth , you’re just paying for someone else to build wealth. Also you have no control, they can charge you whatever they want.

[Kashi]

Many of the costs you listed are also home owner costs if you don’t buy a big giant house. My kitchen sink went out six months ago and I haven’t been able to replace it.

I give a lot right now to have a landlord to call to fix that in all of the other home repairs that need fixing.

[Kayla]

So I rented for a yr we own our home I left the apartment in better condition 2,000 in move out repairs. Most that actually weren’t real. I took pictures thank God amd am getting 400 back. Plus rent is more than a mortgage.

[Heather]

My problem with renting in my area is the quality of landlords. Repairs going years without being done, general ugliness from neglect, not accommodating to my budget and lifestyle when things aren’t fully functional as they should be… if I own it I can make decisions on repairs.

[Sarah]

If you’re going from a giant house to a small apartment, then yes, I would imagine storage in any capacity would be an issue.

When I rented and things broke though, it was sooo nice to not have to worry about service charge fees, replacing appliances, dealing with furnace and AC repairs and replacements, roof replacements, etc.

There were downsides for sure, but different things work for different people and for that season in my life renting was perfect while I worked to establish myself more.

Useful: After you FIRE (lean) and so leave your job, how do you go by renting an apartment?

[Aron]

We rented on and off for 9 years. One thing I learned to do when I had a tiny kitchen was I set up a lifetime 8-ft table on the back wall of my living room and set up almost a mini kitchen there. Put our bed up on risers with totes underneath.

We have never spent more on a rental than we did on a mortgage but obviously if our furnace goes out or a roof leaks those repairs are on us.

[Felicia]

I just went to an apartment after moving out so my daughter and her husband could move into a house that was too big for me.

I have found a 2 bed apartment that has high ceilings, private yard and dining area. In the end, I’m out about $150 a month additional but no surprise bills and the perfect size for me. I’ll look for a house to buy in the future, but the market is just nuts rn.

[Maureen]

It appears you are making it a bigger deal in the apartment than it is. No one files claims over dings to the car. No one flies claims at all unless medical is necessary or cost to fix is way over deductible. You can still stock pile stuff and have your cooking apliances.

It may be unfashionable to have an extra fridge in the living room or cooking appliances you have to pull out when needed and put away under a bed when not needed. Guess what? You can still entertain in the apartment!

People have bern doing That forever and a day too. It sounds like you are making excuses where those of us who have never owned a home have managed just fine.

You may need to figure out a different way of doing things.

[Lisa]

This is a truly sad post! No idea where you live but seems like an expensive place to take. As for internet have you checked T-mobile? It’s $50 a month if you auto-pay online. Pick up cylinder at a T-mobile. It’s cylinder shape and you just plug it in a wall socket and attach sign into your WIFI. It’s got two spots to plug in hardwires also.

As for storage… what are you storing that will be cheaper to buy later than paying for storage? I ask because I’ve worked in storage and lots of things dry rot.

Why rent such an expensive place? Why such a luxury accommodation if frugal is a thought?

[Gloria]

We are older and have a great landlord. Do I wish we owned…sure. But when my partner became disabled and was denied disability for years (like brain diseases get better), I could not afford our home and costs on my salary. A storm took out a tree which fell across our electrical line. My landlord fixed it. Problem with the air conditioner. He takes care of it. I take care of anything I can do myself. At some point, my partner will need more care than I can provide. And at some point, I imagine I will too. So, renting works for us.

Several of my friends (also older) are selling their homes and moving into apartments.

[Anna]

For internet I would go with a hotspot through your phone company. We do and when others have lost their internet we still have ours and we run our cameras off it as well as all electronic devices. $60 a month.

[Patricia]

I have pets and that’s the only reason I bought my home. Taxes go up, maintenance and repairs are costly. Utility bills going up also. BUT I LOVE MY CATS!

[Christina]

I hear you, but I’ve spent so much on our home. The first year, nearly every appliance went out. We thankfully found decent ones used, or saved up for new, but the amount I’ve spent on my home is mine boggling. I’m so grateful for it, don’t get me wrong. I’m not complaining.

I think it can all be expensive.

[Author]

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