Taylor Swift’s net worth is probably half a billion dollars, if not more. The young singer-songwriter could afford to live anywhere in the world. However, recently she splurged more than $50 million on a New York apartment so that she could have a permanent residence in the city. But why?
It all comes down to the unique appeal of apartments. People just love them. They offer so many advantages that it is sometimes hard to count them all.
You’re Close To Neighbors
While some people like the idea of privacy and isolation, most people want to feel like they’re a part of the community. You can do that on a regular suburban street, but it is much more difficult than in an apartment building where everyone knows each other.
What’s more, apartments have homeowners and condo associations. These are like community hubs that get together to discuss policies, initiatives and fees. Being a member of one of these gives you a sense of power and control over decision-making in the local area. When looking for a place to live in the San Francisco area, I found that using: https://www.rent.com/california/san-francisco-apartments/studio was best to use for my search for a studio apartment at a great price.
You Can Move In And Out Easily
The fuss involved in moving out of a conventional detached property is tremendous. You have so much stuff to move.
However, when you move out of an apartment, there’s relatively little you need to take with you, particularly if you opt for furnished.
This ability to move out quickly gives you freedom. You’re able to go where you want and do as you please. There are no rules anymore.
You Can Take Advantage Of Great Amenities
When you live in a separate detached property, you don’t have an option to share amenity costs with other people on your street. However, that’s not true of apartment buildings. Here, everyone chips in for the running of things like the gym, parking lot and restrooms. Some buildings even have their own salons or pet spas.
These amenities can improve your quality of life tremendously. What’s more, they are easily accessible. You just go downstairs and walk right in – no need to travel across town.
Most apartment buildings are part of wider self-contained developments. These often have security services at the entrances, preventing unauthorized people from entering.
This additional layer of security is great for vulnerable people or those living alone. It means that they can feel safe in their properties.
There are other features too. For instance, gated communities typically have:
- Controlled access, where you need to enter a keycode or use a tag to get into the building
- Security cameras around the periphery of the building
- Additional fire protection and abatement measures
You Pay Less
Then there’s the big one: apartments are much cheaper than regular homes. While you might have to pay “ground rent” or HOA fees for maintenance, these tend to be considerably lower than the equivalent costs of owning a regular home.
Remember, apartment fees usually only amount to between 0.5 percent and 1 percent of the property’s value per year. However, homeowner expenses can often go as high as 1 to 2 percent per year, sometimes more.