Apartment vs Townhouse

Scott L · 10-15-2003, 06:42 PM

Hi guys, my brother and I are still living at home in our senior year of college plus we have a rich friend living at home too (still in college). We all have jobs so we are starting to look at places in the area.

One thing I noticed about the apartment complexes is that they operate on this rule called tax credit, meaning the rent is lower but the tennants have to meet certain requirements. We have to make over $36k but under $47k a year, and we can't all be full-time students. Weird laws but we meet these requirements.

My big question is I see some 3 level townhomes that are only about $200/mo more than a cramped 3 bedroom apartment. Why would anyone choose the apartment over the townhouse.. is there more to it I'm not seeing?

Phil Kim · 10-15-2003, 07:42 PM

Quote:

My big question is I see some 3 level townhomes that are only about $200/mo more than a cramped 3 bedroom apartment. Why would anyone choose the apartment over the townhouse.. is there more to it I'm not seeing?

For some people, $200/month on a rental property is either too much premium or waste of money.

Glenn Overholt · 10-15-2003, 10:45 PM

And what happens after you are done with your senior year? New lease with a higher price?

Glenn

Scott L · 10-15-2003, 11:09 PM

nah price will stay the same. Tax credit isn't directed towards students, just to benefit a certain income bracket, I guess.

Steve_Tk · 10-16-2003, 01:46 AM

At least in townhomes you don't hear everything that's going on next door. The ones I have been in had either concrete walls or major soundproofing. Apartments almost never do, just a regular wall separating you and the idiot next door that listens to loud rap music.

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Ricardo C · 10-16-2003, 02:02 AM

I said I would turn it down!! GEEEEEEEEZ LOUISE!!!!!!

Philip Hamm · 10-16-2003, 07:36 AM

Quote:

At least in townhomes you don't hear everything that's going on next door. The ones I have been in had either concrete walls or major soundproofing. Apartments almost never do, just a regular wall separating you and the idiot next door that listens to loud rap music.

My experience has been the exact opposite. I had to get out of my townhouse after a loud neighbor moved in, and in my new apartment I never hear neighbors.

Tony Whalen · 10-16-2003, 09:09 AM

Plus with townhomes you will also sometimes have the joy of upkeeping your yard, sidewalks etc, unless that is covered by condo fees. Apartments you don't generally have to worry about mowing or shoveling.

Leila Dougan · 10-16-2003, 09:34 AM

In my area there isn't any such rules and anybody can live anywhere assuming they meet the conditions of the complex itself. Also, in my area there are very few townhouses for rent, much fewer than apartments.

So for me, it wouldn't be a matter of apartment vs townhouse, it would be rent vs buy. A big distinction.

Also, I've never been much for living with other people (except my husband and family, of course). I would never share a place with 2 friends so the "cramped 3 bedroom" would never come into play and $200/month more is ridiculous for something I don't need. I had a cheap 1 bdrm apartment for years that suited me fine. At $400/month, spending an extra $200/month would be 50% more and way out of my budget.

It just depends on your needs. $200 between three people isn't a whole lot but with one person, it sure is.