If you’re looking for a great place to live that’s also close to the beach, you may think you only have one option: buy a condo. That might be true if you have a hefty down payment and can afford the high price tags attached to condos in many coastal towns. However, if renting is more affordable for you right now, you should definitely look into top rated Redondo beach apartments for rent instead. Here are five reasons why renting a beach apartment instead of buying is the perfect choice for many people who want to live near the ocean but don’t have tens of thousands of dollars to do so.
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You’ll have more housing options.
While many beach towns are still building new condos (and therefore have few rentals), there are plenty of beach apartments for rent. In fact, you may even be able to find an apartment in a house or duplex that was built in the 1960s or even earlier, but has since been well-maintained. You’ll also have more options in terms of size and price. While there are plenty of condos for rent near the beach, the majority of them are one-bedroom or studio units that would be too small for many families. If you have kids and want to live near the beach, an apartment would give you much more living space to spread out and relax. You may also have more options when it comes to choosing a property. If you can’t find a condo you love in the location you want, you can still find a great beach apartment for rent. In fact, you may have even more options. Many beach towns have strict rules and regulations when it comes to building new condos, but there are often fewer rules when it comes to renting out older apartments.
Renting is usually much cheaper than buying.
This is true even in the most expensive beach locations, where the average condo sale price is well over $200,000. The average three-bedroom, two-bathroom beach apartment for rent might go for around $2,000 per month, while the average three-bedroom, two-bathroom condo for sale in the same location may cost $300,000. Even if the condo costs less per month, you’d still have to come up with a hefty down payment and qualify for a mortgage, which isn’t always easy when you’re starting out. If you can qualify for an apartment, you can easily move in and start enjoying the ocean breeze and sand between your toes. The much lower cost of renting versus buying also means that you’ll likely have more financial freedom to travel, go out more often, or even splurge on a nicer apartment if you’d like, since you’re not tied down to a mortgage.
Condo associations can be a nightmare.
Most condo owners’ associations have strict rules about everything from pets to paint colors to what you can do on your balcony. And if you don’t follow those rules, you could end up in mandatory arbitration and even court. If you don’t follow the rules and fail to pay your condo dues, you could even get kicked out and lose the equity in your property. While you’ll still have to follow condo rules when renting an apartment in a building, you won’t have to worry about an HOA taking you to court or putting you out on the street if you don’t follow the rules. You can simply move out if you have issues with your landlord and find a new apartment if you’re fed up with your current one. Renting also means that you’ll have more options when it comes to picking your paint color.
You won’t need to worry about repairs.
When you own a condo, you’re responsible for paying for any repairs that are needed in the building, even if they aren’t in your unit. And if the condo association doesn’t have the funds to pay for repairs, you may have to wait years for them to be done. When you rent an apartment, however, you don’t own any part of the building, so you don’t have any responsibility for repairs. Your landlord is responsible for all maintenance and repairs, and you don’t need to do a thing. In fact, you can go on with your life without ever having to worry about how the roof or plumbing is holding up, because it’s not your responsibility. You can simply enjoy your apartment and not worry about who’s picking up the tab for repairs.
You won’t have to worry about repairs.
When you own a condo, you’re responsible for any repairs that are needed. That can be both a blessing and a curse. While it’s great that you have the power to have repairs done when they’re needed, they can also become a financial burden. If you need a roof replacement, water heater repair, or other expensive repairs, you’re responsible for paying for them. When you rent an apartment, though, you’re not responsible for any repairs. That means if your roof is leaking, someone else will foot the bill for repairs.
You’ll still get the same ocean views and beach proximity.
Okay, so you won’t actually own beach property, but you’ll still get all of the same ocean-adjacent benefits, which is awesome. From renting an apartment with a balcony that overlooks the sand and water to living in a duplex or house with a great view of the ocean, you’ll still be close enough to smell the salt in the air and hear the sound of crashing waves. In fact, many beach apartments for rent are actually located on the sand, which is even more convenient and enjoyable than living right on the water in a condo. You’ll also have more options when it comes to the location of your beach apartment. While many condos are only located near the beach, you can find a great beach apartment for rent in almost any part of town.
Conclusion
If you’re looking for a great place to live that’s also close to the beach, you may think you only have one option: buy a condo. That might be true if you have a hefty down payment and can afford the high price tags attached to condos in many coastal towns. However, if renting is more affordable for you right now, you should definitely look into beach apartments for rent instead. When you rent an apartment, you’re not responsible for any repairs, you don’t have to worry about condo association rules, and you don’t have to come up with a down payment. In fact, you’ll still get all of the same ocean-adjacent benefits you would if you owned a beach condo.
