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Should I Buy a House Or Rent an Apartment In Carmel?

During the 21st century, common wisdom in respect to purchasing a home or renting an apartment in Carmel has turned upside down. Buying property gives for a point of pride and connectedness that you cannot derive from renting, but it may also be a source of difficulty and steep costs. Renting may come with some added rules, but also creates room for adaptability and financial savings home ownership doesn’t. Here are a few points to know before deciding to acquire a house or rent an apartment in Carmel.

Apartment building in Carmel

Money is Central

Costs, both upfront and ongoing, can vary considerably between buying a house and renting an apartment. The house purchasing process is teeming with expenses that typically have to be paid upfront - not including your down payment. There is first-year insurance costs, earnest money, house appraisals and inspections, and other various fees - all before your utility bills even begin. Not to mention the supplementary prices of repairs and any renovations you may need.

Renting has a much smaller barrier for entry. Standard renting upfront expenses include a security deposit, first month’s rent, and other various deposits or payments. While some say that money paid for renting is wasted, money paid on a location to stay is never a loss.

Living room in Carmel apartment
Living Room at The Legacy Apartments

Room for Yourself and the Entire Family 

What you want out of your living quarters may be the determining consideration in deciding if you should rent an apartment or buy a house in Carmel. The standard house square footage in North America is continually growing, meaning more room for a home gym or an extra bathroom. A home will likely have grass for kids and pets to move freely and play in.

You can locate apartments in numerous layouts and floorplans. For your unit, you can get anything from a 1-bedroom to a 3-bedroom, but they all come in fixed layouts. Your apartment should have have walking routes and a dog park, and residents living on the other side of the wall. Of course, most properties don’t come with amenities like a decked out gym or swimming pool.

Repair in Carmel apartment

Maintenance Woes

While the choices that come having a house is remarkable, it does come with a few strings attached. In the event that a pipe burst or furnace break, it is up to you or a handyman you call in to do the repairs. In an apartment, there is a trained maintenance staff that is always just a call away. Not only is having a maintenance specialist on-call handy, but it can also save you some big replacement fees. Repair fees are factored into your renting costs, while any fixes on a home come directly from your savings.

Flexibility for Your Lifestyle

Your career and lifestyle can be massive factors in deciding to rent an apartment or buy a house in Carmel. Selling your home can be a arduous, stressful process. If you work a job that calls for you to relocate regularly, taking on the selling procedure may be more trouble than it is worth. Renting an apartment is a more streamlined process that doesn’t involve real estate agents or banks - only the apartment staff and you.

Ready To Begin Finding For Your Perfect Apartment Space?

When you want an apartment in Carmel, your first choice should be North Haven Apartments. We have luxurious floorplans, attentive staff, and excellent amenities. Simply call 317-350-1875 or click the “schedule a tour button” to locate your perfect living space.
North Haven Apartments
4690 Haven Point Blvd.
CarmelIndiana 46280
Phone: 317-350-1875
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Office Hours
  • Monday  9:00 - 6:00
  • Tuesday  9:00 - 6:00
  • Wednesday  9:00 - 6:00
  • Thursday  9:00 - 6:00
  • Friday  9:00 - 6:00
  • Saturday  10:00 - 5:00
  • Sunday  CLOSED
J.C. Hart is an equal housing opportunity provider.
North Haven Apartments
North Haven Apartments is a luxury apartment community located at E 96th St. and Gray Rd. in Carmel. Owned and operated by the J.C. Hart Company, we're dedicated to helping our Residents feel at home. We offer various floor plans and amenities to fit any lifestyle, and our Residents love living near The Monon Center.
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