Low mortgage rates and the increasing cost of renting an apartment have many renters now looking seriously at making the commitment to single family living. There are pros and cons for both, and a renter's decision comes down to a personal situation. Personal financial condition, future plans, and the local real estate market are just three of the factors that may influence a renter's decision. The ownership versus renting equation has been in serious flux in recent years. While renters don't build equity, they have greater flexibility in relocating. Also, housing equities are not rising like they once were. So the decision has fewer right or wrong answers than maybe it once did. A renter basically must ask, “How appealing is the idea of ownership?” If you purchase a home, you are making a commitment to stay there for at least a few years, so it pays to check out the desirability of neighborhoods carefully and weigh the prospect for getting a return on your investment if you decide to sell later. You don't want a depreciating asset and there are no guarantees. Examine local rental costs versus purchase costs for the local area. What will be your total upfront investment for making a purchase: down payment, closing cost, moving cost, fees for inspections etc., fix-up costs if any, plus any other costs incidental to making the deal. You may face as much as 20% down payment alone. And closing costs could run 5%. If you rent a property you typically must pay a security deposit and a month or so of upfront rent. This should be totally refundable. So the upfront costs of renting versus owning are significantly unbalanced. But rents have been escalating in many cities and as your lease period terminates, you may face a big surprise. While single-family homes have been depreciating in many areas of the country, renting definitely doesn't build equity and you don't receive any tax benefits. Probably as big as any factor is the emotional feeling

Apartments in Area:

Montgomery Apartment - The Morgan at EastChase

1 to 3 BDRM apartment in Montgomery, AL from $940 to $1225


Montgomery Apartment - BroadStreet at EastChase

1 to 3 BDRM apartment in Montgomery, AL from $880 to $1200


Montgomery Apartment - Sturbridge Commons - Newly Renovated Apartments

1 to 3 BDRM apartment in Montgomery, AL from Call for Pricing


Montgomery Apartment - The Heights - Uptown Montgomery Living

1 to 2 BDRM apartment in Montgomery, AL from $1049 to $1429


Montgomery Apartment - Legends at Taylor Lakes

1 to 3 BDRM apartment in Montgomery, AL from $790 to $1280


Pike Road Apartment - Stone Park Villas at Pike Road

4 BDRM apartment in Pike Road, AL from $1500 to $1800


Montgomery Apartment - Barrington Place

1 to 3 BDRM apartment in Montgomery, AL from Call for Pricing


Montgomery Apartment - Carrington Park

1 to 3 BDRM apartment in Montgomery, AL from Call for Pricing


Montgomery Apartment - Elevate 5050

1 to 3 BDRM apartment in Montgomery, AL from $660 to $1300


Wetumpka Apartment - Chapel Lakes

1 to 3 BDRM apartment in Wetumpka, AL from $754 to $884


Montgomery Apartment - Verandas Mitylene

1 to 3 BDRM apartment in Montgomery, AL from $931 to $1822


Montgomery Apartment - Verandas at Taylor Oaks

1 to 3 BDRM apartment in Montgomery, AL from $892 to $1173


Montgomery Apartment - Zelda Pointe

1 to 2 BDRM apartment in Montgomery, AL from $675 to $785


Montgomery Apartment - Arbors on Taylor

1 BDRM apartment in Montgomery, AL from $718 to $1150


Montgomery Apartment - The Reserve

1 to 3 BDRM apartment in Montgomery, AL from $75 to $1145


The Montgomery Apartment Guide - The River Region's Most Reliable Apartment Resource

View Online
Apartments in Montgomery, AL

If you would like a FREE copy of The Montgomery Apartment Guide, please call toll free 1-334-281-3449 or order online here or View Our Apartment Guide Online