Rent goes beyond the threshold of home ownership…
It is time to consider moving to a cheaper apartment or buying your own home when the rent of your apartment is the same as making a house payment. The rental payments for an apartment are lining someone else’s pockets or helping them pay their mortgage repayments of the apartment. If you can buy a house for the same as you are paying in rent then, of course, you should consider homeownership. The payments you make on a house payment will help you build equity and eventually you will own the home entirely.
…And they’ve stopped fixing your issues.
A positive thing about renting an apartment is that you shouldn’t have to worry about fixing things when issues pop up. It is the landlord’s concern to upkeep the apartment, fix the mains, or a leaking shower for example. However, if the landlord is slow to fix these issues or is letting the apartment look rundown, then it is time to look elsewhere.
Plus, you notice more bugs around your place…
If pest control is included as part of your rent, and you continually have bug problems, then it could be indicative of a larger issue. It’s certainly a case where you’re being ignored by the people to whom you’re paying rent, and that is unacceptable in itself. But the more dangerous the bug — wasps, for example — the greater the threat to you, your spouse, or any small children you may have around the place.
…And you’re running out of room.
Are you finding it challenging to fit everything in your apartment? Are you considering renting a storage unit to store some of your things? Then it is time to consider moving to a larger apartment or consider buying a home. This is a common problem for couples and growing families.
Last but not least: break-ins.
Have there been break-ins in your apartment complex? Are you feeling insecure? What have the landlords put in place to ensure that the property is safe? Has a security system been installed or security service been employed? It is a landlords duty to ensure that the apartment is safe for their tenants, if they are failing to do this then you should change apartments.