When it comes to renting a house vs. apartment, there's no right or wrong choice. If you're new to renting, you'll probably be mentally weighing up the pros and cons right now. You've been reading articles and of course, your family is giving their expert advice - which may or may not be accurate!

Have you wondered, "What's the difference between a house and an apartment?" "Should I rent a house?" or "Is it cheaper to rent a house or apartment?" Well, we can help! The choice between renting a house or an apartment depends on your financial situation and what you want from a home. Read this guide so you know what you're getting before you sign a lease.

Pros and Cons of Renting a House vs. Apartment

Here is a list of some of the pros and cons of renting a house and an apartment. This is the perfect starting point to your search for a home - and you don't even need to leave the couch!

Pros of renting a house

1. Less noise

If you've never had to deal with noisy neighbors, consider yourself one of the lucky ones! In New York City, many of the older houses have thicker walls. That means you don't have to listen to the TV shows your neighbors are watching, or get an ear-full of their morning Zoom call. Consider noise when you compare renting a house vs. apartment - and go with a house if noise will bother you.

2. Privacy & space

Having your own private space is usually a luxury in NYC. However, if you're starting a family, a home provides the privacy and space you'll need.

3. Practice your hobbies in peace

If you've lived with roommates - or even siblings - you'll understand the struggles of working on a project only to be disturbed by loud conversations and music from the next room. And what if you're pursuing a hobby? A house rental provides the space to play guitar or drums loudly and without interruption.

4. Pets

House rentals are generally more pet-friendly compared to apartments. They provide more room for pets to explore and usually have fewer restrictions on having a pet on the property. This could mean moving in with your pooch or adopting a stray. When it comes to the question of house vs apartment, a house rental is a clear winner for animal lovers.

Cons of house rental

1. Maintenance & upkeep

While a house has many benefits, it does come with its share of problems. Topping this list is the sheer maintenance and upkeep they need. A larger space means more time and energy spent on keeping it clean, and higher costs to heat and cool the place. Think about whether you can afford higher bills - and can be bothered with the demanding cleaning schedule.

2. Landlords and property owners can be harder to navigate

Housing rentals may have more demanding landlords or property owners. It can be more difficult to reach someone if you need maintenance, since there's usually no board of people working in the property.

Now you're clued up on the pros and cons of housing rentals, let's take a look at the good, the bad, and the ugly of renting an apartment.

Pros of apartment rentals

1. Less maintenance

Unlike housing rentals that require maintenance and upkeep, apartment rentals are relatively easier to manage and have lower costs of upkeep.

2. Better amenities

Apartment rentals tend to have better amenities and updates to the property. Landlords cater to Millennials and Gen Z and aim to keep the place as modern as possible.

3. Affordability

On a budget? Renting an apartment will reduce your overall rental costs. In a city like New York, you will appreciate being able to save a few bucks without sacrificing your lifestyle.

4. Convenience of location

If you thrive on big city livin', an apartment rental is probably right for you. As a young professional or student in NYC, you'll want to be where the action is, and there's really no match for the location of apartments!

Cons of apartment rentals

1. Noise & privacy

In direct contrast to house rentals, apartments can be noisy and lack privacy. NYC apartments are infamous for having paper-thin walls. And, while this may not be entirely true, it is safe to say that noise levels in an apartment will definitely be more than a housing rental.

2. Restrictions

Apartment blocks often come with more rules. Like playing loud music, or owning a pet? You might run into some issues if you rent an apartment. Check your lease, which may include clauses around owning a pet or subletting, for example. Most apartments do however have pet deposits and fees that you can look into. Your lease might also limit any home renovations and DIYs, so you won't be able to get as creative with your space.

3. Parking

If you have a vehicle, you might struggle to park it when you live in an apartment. While there are some options available for you to park your vehicle they may include renting a space that will cost you more money.We hope this guide answered all your questions about renting a house or an apartment. We encourage you to discern your needs and financial situation and make a practical decision about renting a house or an apartment. You should start by putting together the documentation you need to rent your first apartment or home. If you are a student, having Renters Insurance is a smart financial decision that protects you from liabilities and accidents.