Sunday, October 18, 2015

Millennials opt to rent over purchase housing

With college costs on the rise, each year students are graduating with more and more debt. Having a higher debt to income ratio means many less young professionals are purchasing homes. An article by Forbes.com reported in 2014 homeownership for 18-34 year-olds was at an all time low of 13.2 percent.

However, the choice to rent is not limited to money. Millennials enjoy the amenities of apartment complexes. Many apartment complexes offer gyms, pools, media centers, tanning beds and a clubhouse that can be used to hold parties. The cost to add these features to a single family home would be far out of reach for many young professionals.

Another perk of living in an apartment is having a sense of community. In an apartment setting it is easier to get to know the people living around you. Knowing neighbors adds a layer of protection. Statistics have shown having strong bonds with neighbors can reduce crime in the community.

It's also convenient. Living in an apartment millennials do not have to worry about maintenance or where to store yard care equipment. If a pipe breaks or a toilet clogs there is no out of pocket cost to the renter, a call to maintenance will get the problem solved quickly.

However, potential renters should be sure to do research on properties and landlords to ensure the company has a good reputations and maintenance is taken care of promptly. Slow maintenance or broken amenities can make for  a very unpleasant atmosphere. Another problem with renting is that smells can permeate through the walls. When living next door to a heavy smoker, smoke may permeate through the walls resulting in exposure to secondhand smoke. 

16 comments:

  1. Your paragraphs are broken up nicely. Not one is too long making it hard to read. Make sure to spell out percent in the first paragraph instead of using the symbol.

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  2. I really enjoyed this article and you made some very valid points. The last paragraph could be worded a little better. For example, "One problem that comes along with renting is the smells that can permeate through the walls, if you live next door to a heavy smoker and possibly exposing you to secondhand smoke.

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  3. Just little errors, but the is good article. I think the previous comments got them all. In my apartment i lived in we had to unclog our own toilets.

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  4. I am not looking forward to having to pay off my debts after college. This is a real issue and the price of tuition is getting higher. I know from experience that it will take me longer to get myself established and getting my own house than it took my parents. I personally would rather live in an apartment because I have to work a lot to be able to start paying my debt. Good job.

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  5. I think you did a great job writing this article. I enjoyed it. This is a very relevant article to all college students. The only thing I saw was to spell out percent in the first paragraph.

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  6. Spell out percent, per the AP rules. This topic is very interesting, and as someone who lives off campus I can see a lot of your points. No huge errors, great job!

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  7. After tanning beds there shouldn't be a comma because of AP style. And the % should be spelled out for AP. Otherwise great article!

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  8. I really liked your choice in subject - this is a topic that any college student can relate to and that creates strong appeal. Change your headline and rework your lede - both are confusing and hard to follow. Good job not being subjective and clearly listing the pros and cons of the situation.

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  9. This was a really nice article! I loved the topic, too. It's not something a lot of people think about, but it is something that is relevant to many college students. Spell out the word "percent" rather than using the %. Other than that, well done!

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  10. Nicely written and relevant topic for your audience. Provided a lot of great facts.

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  11. Nicely written and relevant topic for your audience. Provided a lot of great facts.

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  12. Interesting topic to talk about. Well written.

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  13. You a really great statistic in this article that grabs a reader attention!

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  14. good article! I agree Mindy and Kara that percentage should be spell out.

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  15. Nice article! At the end, "However, potential renters should make sure..." is perhaps better.

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