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Rent Payments or Mortgage: Lifehacks to Choose the Most Profitable Accommodations

Young people, especially those in their twenties, face probably one of the most important but also stressful periods in their lives — moving out from their parents and getting their first real apartment. Most young adults at this age prefer to rent an apartment — but with each year, the idea of renting doesn’t sound as exciting, especially when you need help paying my rent and can’t cope with daily expenses.

And so, the next step in adulthood after moving out most of the time has to be their apartment. But how can a young family afford themselves a house or an apartment, especially when today lots of new expensive buildings are created, and your budget doesn’t allow you to buy a place to live in one snap? The answer for most of you is simple — a mortgage.

Renting An Apartment — Pros And Cons

When you are just starting your adult life, your first stop would be rent — and of course, rent is something you should begin in your experience with real estate. What are the positive and negative sides?


  • You are not tied to a place — with rent, and it is always easy to move out of one place and find yourself another one — maybe in a different city. Especially if you are a traveler and you want to experience living in other countries or simply don’t want to tie yourself to one specific place or area — renting an apartment is your option;
  • If you don’t have much money — the best part about renting is that you will surely find a place for your budget. A mortgage is an option for people who can’t buy an apartment, but still, it needs a lot of saved money. However, renting offers you a lot of opportunities;
  • You don’t have to worry about the apartment’s condition — the owner of the property has to. When you move into a flat, everything in there is not you. The owner has got to care about the furniture and available technologies in the apartment.


  • Constant money giving — renting a flat means giving money to the owner and not investing in your future. Unfortunately, this is true, and even if you live in a rented apartment for a long time, all the money you gave will never return, and if something goes wrong, you can be kicked out;
  • You can’t change apartments or numerous restrictions. You can’t do repairs in most rental places, and you gotta live on the conditions the owner gives you. Many things are restricted in rental areas like kids, animals, loud parties, and so on. It is not your property, so you have to be careful with it;
  • Neighbors — usually, when it is a mortgage we are talking about, you choose the apartment you will have and who you will live next to. Many times people don’t even realize that neighbors can be a very annoying part of a rental apartment.

So when choosing an apartment to rent, you have to be careful and know every negative side that can affect your living — this way, you will find the most comfortable place to live in.

Mortgage — Pros And Cons

When you finally decided to consider mortgages, you shouldn’t just jump right into it — as always, as much as it is an appealing thing, you have to make sure that this is really what you want to have — so here are the pros and cons of mortgages.


  •  Your flat — you are finally taking care of your apartment. A place where you can style everything however you want and have your pets, and have kids and parties and all of the things that probably were forbidden in your rental apartment;
  • Giving money for your future — you are no longer paying someone to have a roof over your head — all of the money you are giving away is going for your good, for your apartment. It is a great investment for your future;
  • A safe deal — mortgages are drastically signed, so whatever the deal you are taking on is safe — the only thing left is for you to follow the documents you signed. As long as you behave securely, success is in your hands.


  •  Overpaying — what differs mortgage from simply buying an apartment is that you pay a higher price than you would have because mortgages are done through agencies that take their “tax” for their services and money you lent. You have to be ready for extra expenses and higher prices than the original price of a place you found;
  • Long paperwork — as previously mentioned, mortgages are drastically signed, which means you have to prepare all of the documents in advance and be ready for a lot of paperwork. Your deal must be safe, so all the documents are thoroughly checked;
  • You have to pay everything on time — punctuality is the main part of mortgages. As long as you are securely paying for it on time, you shouldn’t be worried. But if the wait is too long or if you don’t have enough money to spend, after some time, it can spoil the deal, and you may lose the apartment — that’s why it’s important to have that extra money in your budget that you can use during such emergencies.

Before deciding yourself for a mortgage, make sure to read about every possible outcome, as it is money and loans we are dealing with and not simple-rent, that is not as serious as a mortgage. You have to be simply smart with your next steps.

Should I Get A Mortgage?

Mortgages become a more attractive way of getting an apartment. Many banks and loan companies are coming up with a more convenient way of giving out mortgages because everyone sees how profitable and actually helpful it is. Mortgages are not something one should be afraid of because many people are so scared of dealing with money and try to avoid loans in any way. But you must understand one thing — as long as you are honest and trustworthy with your cash and punctual with payments, you won’t have any problems with it.

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