How to Buy an Apartment Complex in 7 Steps

Cody Cromwell
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Decide if Buying an Apartment Complex Is Right for You

Buying a whole apartment complex might sounds like a dream come true, but it’s not the right choice for everyone. Real estate investing is a tough business, and it’s important to weigh the cost vs. the benefit before you make a final decision.

The first thing you’ll need to consider is whether buying an apartment complex is right for you. If you’re an investor who prefers to manage a large property from afar with little to no live-in responsibilities, then buying an apartment complex might be a great deal. However, such apartments will attract tenants whose rents will generally be low as well. So unless you’re willing to wait it out, you’d better look somewhere else.

The second thing to consider is whether this investment is a great fit for you. Is it something that your personality will resonate with? Will your skills and knowledge level allow you to successfully conduct due diligence, find the right tenants, and run a successful business? There are a few businesses that will make you the owner of an apartment complex, but most of them will require you to find tenants, manage the property, do the repairs, and so on.

Pros of Buying Apartment Complexes

There are many benefits to buying real estate where you live instead of just buying a home. Although it may seem intimidating at first, it’s actually a great way to invest in your community and potentially earn a higher return on your investment.

Here are a few ways purchasing apartment complexes can benefit you:

Lower Your Costs of living vs. Renting

One of the biggest issues the average American faces is the high cost of rent. Although there are many types of rent you can choose, typically renting starts at 3.5% of your monthly income and can get as high as 10% or more for some areas. Buying apartment complexes is a great way to live in a neighborhood that you enjoy and provide a lower cost of living without sacrificing the comforts of home.

Longer-term Rentals

One of the biggest concerns people face when buying real estate is whether or not they will be able to find a tenant to take over the property once you move into retirement. If you are looking to buy, but don’t have any desire or need to move out of the same location in the future, then buying a complex gives you the ability to own rental property for years to come.

In addition to giving you a tremendous amount of flexibility, owning an apartment complex, rather than selling it, can also save you quite a bit in taxes.

Cons of Buying Apartment Complexes

There are two main reasons to purchase a preexisting condominium: first, you may have a down payment and be in a situation where a mortgage on a house is just too expensive. Second, you will probably get a better unit than you could otherwise afford. Before purchasing an apartment complex, you should make sure there are strong reasons for doing so.

Let me start with the cons of buying a condo. Obviously, the largest con compared to a house is the cost of the down payment. Most of the time, the condo association will require a down payment of 5-10% of the value of the unit.

Another con of buying a unit and any property is the maintenance and repairs. Condos are complexes with multiple units, and the management usually requires that all units match in every detail. You most likely will have to coordinate the minutest repair details with your neighbors. If you are purchasing a two-unit condo, you will probably have to do almost all the maintenance yourself.

Choose the Type of Apartment Complex to Buy

There are four types of apartment complexes – Duplexes, Multifamily, Condominiums, and Townhouses. Each type has different characteristics and uses. For more information, click here.

Many people choose condo living due to its combination of home and apartment. Condominiums can be found in an array of architectural styles. Since a condo is generally a less expensive alternative to a townhome, many people are opting for condos. Pick an area with a mix of homes, apartments, and condos for the best choice.

Multifamilies (also known as apartment buildings) are ideal for families that want to stay in one area for a long time. Your rent won’t increase with time, so if you’re close to returning to school, this is a good type of housing to consider.

Townhomes are smaller than condos, and townhomes can be great for first-time homebuyers because they may be less than half the cost of a condo. Many townhomes are attached or have landscaped grounds, and since they tend to be small, they are easier to manage and maintain.

Examine Your Personal & Financial Criteria Before Investing in an Apartment Complex

There’s nothing more frustrating than paying for all of the expenses involved in an apartment, only to find out the complex isn’t right for you. Instead of pouring your money into a place that isn’t a good fit, here’s a simple checklist to help you find the perfect place.

The first step – personal criteria: you must be able to live in the apartment and be able to pay the monthly rent.

Next, assess the size of the complex – will you be able to afford an apartment there?

The living space must be within your comfort zone – make sure the beds are comfortable, the kitchen is spacious, and the rooms are large enough.

Each apartment should have a good-sized storage space.

Think of your neighbors while you’re looking for a good apartment complex. You need to feel confident that your neighbors would be respectful of your things and you, and the apartment complex should present good community facilities that will be useful to your lifestyle.

Stay up to date with all current activity at the complex –from major renovations to new upcoming events.

Those are your personal requirements. Now, let’s talk about your financial requirements.

Locate an Apartment Complex to Buy

When you’re looking for an apartment complex to rent, you’ll find websites dedicated to showing you all the complexes within a city and letting you narrow down your choices by price, location, and other features. If you aren’t sure of your housing needs yet, these sites let you assess your short- and long-term plans and decide on how much you want to spend and where you want to live.

Once you’ve found some apartment complexes that meet your needs and budget, you’ll visit these sites in person. For faster identification, you’ll want to take some key info into the visit.

Check Each Complex Individually

When you visit each of the apartment complexes, walk through the site, noting its general appearance and layout. Look for any visual–noise— issues that might need fixing:

  • Tired, dated, or run-down complex
  • Erratic neighbors
  • Shoddy property management
  • Poorly maintained grounds
  • Unpleasant living conditions
  • Unsightly appliances and furniture

Don’t stop at the exterior; go inside each unit as well. You’ll look for:

Wobbly floors or walls

Search ‘For Sale by Owner’ Apartment Complexes

First thing to do, search ‘For Sale by Owner’ on Craigslist or real estate websites. Many apartment complexes have for sale signs on the front lawns. You can even go to certain complexes’ websites and see if any of the managers will chat with you. See if they’ll let you tour the complex…the managers will have an inside knowledge and years of experience with helping you select your new home.

This is how you will a) know what the pros and cons of the apartment complex are and b) find out if the place is still running smoothly. This is an easy test to see if the place is in good condition before you move in.

The main reason to look at local apartment complexes is due to the fact that living here might be a cheaper alternative. You’re living much closer to the city’s core area than you are to the suburbs. Living downtown is also much easier on the wallet. You’re far more likely to find unique and cool restaurants, bars, coffee shops, arcades, and other entertainment spots. When it comes to home decorating, there are plenty of options for affordable living room furniture and home decor that you can find at thrift stores.

Use a Local Real Estate Investment Association (REIA) to Find an Apartment Complex

Deal.

Real estate investment just got a whole lot easier with the introduction of the Realty Ink’s Apartment directory. This directory features a complete list of complexes that are participating in the Realty Ink’s Apartment Investment. You can browse through this directory or download an electronic form to fill out and submit online. The form will help you create a multi-faceted search that pulls information from city and metro listings, apartment reviews, and user reviews. Your search will quickly narrow down a list of potential apartment complexes for you to investigate.

Here’s an example of how this directory works:

A 40-year-old investor Bob joins Realty Ink’s Apartment Investment and decides to locate an apartment complex capitalizing on the high rental rates of a recently built, new apartment complex located in the downtown area of a large city. He first enters the city of his choice and clicks on the “Median Rent” search option. Then he enters the appropriate city details such as the median household and family income along with the utility cost. Bob’s search results will show him the listing prices and, more importantly, the sized of the apartment units in the complex. Bob will be able to use this information to determine before he submits his form if this is a deal worth pursuing.

Engage a Real Estate Agent

Real estate agents are a smart investment and should be the second step in your apartment search. Without the expertise of a real estate agent, you will be at the disadvantage of not knowing for sure what you are getting into.

Most real estate agents will be able to supply you with apartment options that will fit in your price range. Furthermore, working with a real estate agent to find suitable complexes will help you avoid getting scammed.

Step 4: Visiting the Complex

Before you choose an apartment complex, you should visit the complex to get a feel for the inside of the building and within the apartments. You should check the size of the rooms and bathrooms, look at the layout, and assess the condition of the apartments.

Step 5: Review Security Alarms

One of the most important issues to look at when buying a apartment is the security features. Always ensure that there is a security alarm in the apartments that you are interested in. If the owners live in the apartment, they should already have a working alarm system. However, if they rent out the apartment, you should go there and check on the system and ensure that it functions properly.

Step 6: Downpayment

Consider a Commercial Real Estate Agent When Buying an Apartment Complex

There’s a lot to consider when choosing an apartment complex to buy. You want to make sure that you find a place that’s within your price range and in a good location. However, there are a few things that can’t be assessed in a paper survey. A commercial real estate agent can be of great help in finding those hidden gems or in getting the best price on the complex that you chose to buy.

The main service that a commercial real estate agent can provide is to find properties that not only match your specific needs but to obtain the best possible price for it. An agent will be able to locate properties that may be hidden away behind closed doors or even in multiple listings.

Consider Using a Business Broker

If you’re still a bit gun-shy about buying real estate as an investor, think about hiring a business broker. This will help you find the right property by taking the stress away.

Buying a property can be stressful. With so many details to consider and innumerable requirements to find, it’s no wonder that many people are hesitant to take the plunge and invest their time and dollars in real estate.

Some investors now save themselves the stress of finding a property and hire a business real estate broker to help them out. They find property for them by searching their local market, and after clearing the way with the owners and tenants, they negotiate the price with the seller.

They also take care of all the paperwork, including the closing and the various requirements as well as the tax forms. You don’t have to worry about any of those unpleasant details that make a potential real estate investment so intimidating.

Of course, business real estate brokers vary in cost and deliver results based on the business relationship they build with the client. These days, such businesses provide comprehensive real estate services that resemble those offered by full-service real estate brokers. But they stand out with their specialization and single-minded attention to your needs as the client.

Evaluate the Potential Apartment Complex & Neighborhood

When you are looking to rent an apartment, you’re only considering a couple of things: the price and the location. You have a budget, and you need to find a place where the price is affordable while you also can get what you need within a short commute. However, you must also consider the neighborhood or area surrounding the apartment complex when you are looking for an apartment in a specific area. Do you want to live in a quiet or lively place where there’s always something going on? Depending on what you are looking for, you will want to find the right complex.

Check out the neighborhood around the complex. You are going to be spending a lot of time there, and it’s important that you like the setting. If you aren’t sure, it’s a good idea to visit the complex first before agreeing to rent. Once you’ve seen enough, head towards the surrounding area. If you like where you live, don’t be afraid to ask your real estate agent lots of questions. You have safety in numbers not only because picking on an apartment isn’t wise, but because you will protect the landlord as well.

Assess the Location of the Apartment Complex

So now that you’ve identified a good location for a proposed apartment complex, the next step is to make sure you assess the location of the apartment complex accurately. Since you’re going to be moving into this place, this is a big deal! Taking the time to get this part right will help make your transition to the apartment as smooth as possible.

Note that before you can even move on to assessing the property itself, you need to know where it is in relation to the proposed surrounding area. This is done by drawing a map that shows the layout of the town and town park, nearby shops, schools, transportation options, right down to the closest beach and the other popular tourist attractions.

Depending on how big your apartment complex is going to be, you might want to save this information on a map in the area as well, or take a picture instead. Before you can even start studying the complex proper, you need to know what the surrounding area looks like and where everything is.

Consider the Number & Size of Units in the Apartment Complex

If you’re an apartment complex graduate, you’ve likely made your first apartment shopping mistakes. Whether you’ve been searching for a cheap apartment or trying to get out of a bad lease, these common mistakes should help keep you on the path to a new apartment. It’s important to make the best first impression possible. You’re building your apartment complex identity right away … you don’t get a do-over.

If you’re living in a one-bedroom apartment, buying a two- or three-bedroom apartment complex might not be a good idea for you. This is especially true if you have kids in the house who are used to their daily schedules.

One-bedroom apartments can work, but you’ll likely have a smaller apartment with a smaller bathroom, and the common areas might not be suited for kids.

If you’re ready for a bigger place with your kids and you’re set on a two- or three-bedroom apartment complex, try to get a building with residents who share similar ages and lifestyles. You can also find child-friendly features in an apartment complex building such as a playground or dog park.

Note Apartment Complex Amenities

Pay Attention to Construction Details When Buying an Apartment Complex

Before buying a new apartment to rent, we would all like to believe that the complex is as good as its discription says it is. Most complexes are fairly good, sometimes excellent, at selling you on what you’ll get with your new home. However, unless you’re extremely lucky or have a very thorough real estate agent, you may to take a closer look at the apartment community you are considering. That’s why we included a detailed inspection checklist for you to use when viewing a prospective apartment complex or townhome. This checklist will help you pay attention to the construction details so you can better compare your new apartment communities to your current surroundings.

If you’re looking into renting a new apartment community that includes a pool, community garden, gym, or an on-site leasing office, you’ll probably notice that you get what you pay for. Especially for preconstruction properties, the amenities are the same, regardless of whether you’re looking at a community with three pools and three gyms or a community with just one community pool and one community gym. However, if you’re looking at new apartments that include a rooftop or balcony, you’re pretty much guaranteed there will be no view of the community from that upper unit.

Examine the Basic Numbers Before Buying an Apartment Complex

If you’re considering a complex as your first home, you’ve definitely got a lot of questions. Many of those questions revolve around the basic numbers of an apartment complex, such as how many apartments and parking spaces are there, how much is the rent, which part of the complex is the best, how much is the maintenance fee, what type of amenities are there, what’s the rent on the B.O.A (break-the-even) and how high? However, this post is not dedicated to offering answers to these questions. Instead, this post will focus on your questions: how to come up with accurate answers regarding these figures.

Evaluate the Full Financials Prior to Buying an Apartment Complex

Evaluating the full financials prior to buying an apartment complex requires that you have all of these documents and publications in your hands prior to starting the transaction. Having access to these documents and having someone inside the company available, on a daily basis, to answer your questions will give you a closer look at the full financials.

Shopping for the right apartment complex can be very difficult. However, you do not have the luxury of shopping for a single-family house or condo.

Reliance on the renter’s income for any of the expenses of operation of the apartment complex is unrealistic and therefore, risky. Your best option is to find a property that is marketable and then go about the process of restating the results. Resale price is largely based on the cost of fixing the property and the amount of money tenant makes in the form of rent every month.

How do you get an accurate resale value of the property? It is going to be very difficult if you don’t have the reports. The best way to do this is to have someone in the property management company running tests and making sure that all numbers are correct. These tests will then be reported to you with enough explanation as to what the numbers mean.

Net Operating Income Example

The net operating income is the income that your organization has to count towards your income. You must use income taxes, real estate taxes, lease payments, property taxes, capital improvements (when using F&R pricing) and/or management fees in calculating what your income is.

The NBI is a key factor in determining your yield, and can be used to give an idea of the effective after-tax return. However, it is a gross figure that does not include your carrying costs (which would include expenses you have on your books that come from the operations of the property). Thus, while it can be useful in determining operating profitability and historical trends, it is not the same as net operating income for lenders.

Net operating income is your household income after subtracting what you spend paying your monthly mortgage. You need to pay roughly 35% of your income on property expenses and a few extra dollars for interest on your mortgage.

So the net operating income is really how much you have to spend monthly on debt servicing of your mortgage and all of your property purposes that you have on your books [1] .

Some common property expenses to consider for your net operating income calculation are:

  • Property tax
  • Rent
  • Interest expense
  • Management fees
  • Insurance payments
  • Utilities
  • Maintenance costs

Capitalization Rate

The first thing to do when looking at real estate is to check the capitolization rate. In a nutshell, the capitalization rate shows you how much your total monthly payments Total the Total of your monthly capitolization Rate comparitives for the month the Rate capitolization Rate processors included. The capitolization Rate comparitives rate is the rate you pay before your property taxes, mortgage interest, and principal payments.

Capitalization rates fluctuate, but as a rule of thumb, they could be as high as 4-5%. The actual number will depend on the property and overall health of the market.

Due Diligence When Buying Apartment Complexes

I’ve been a real estate broker for years, and as a former broker who now owns several apartment complexes, I have done a lot of research on buying an apartment complex.

Here’s what I’ve learned in 7 steps.

The Most Important Decision Most People Make

The most important decision for anyone considering buying an apartment complex is to identify the right apartment complex to start with.

If you start with the wrong apartment complex, you are likely going to buy a poorly managed apartment complex, and there’s nothing worse for you than to do this.

If you start with the right apartment complex, everything else will fall into place.

You will have the right features, the right space, the right property manager, the right pricing, the right staff, and the right outlook. Pretty much everything will be in place. In other words, ″winning”.

So the most important decision when buying an apartment is to define what that ″right” property looks like.

Make an Offer on the Apartment Complex

For an apartment complex, your offer will be its initial offer price. So be sure to negotiate the price with the seller if you can.

At this step, usually the buyer will be expected to prepay a security deposit. You will pay this deposit to the owner in order to secure the place.

As the owner escrow the deposit, they will wire this amount into your bank account.

This step can take about two to three weeks after your deposit.

If your seller does not require any additional items, then you can proceed with the application.

If the seller requires additional items, then you’ll need to return to the seller’s property for the collections. Afterward, you’ll need to go to your designated bank to have the items authenticated.

After receiving the authenticated documents, pay the remaining amount to your seller.

You’ll need to wait for the seller’s approval before the procedures conclude. You’ll need to follow up with your seller on the finalization of the transactions.

Get an Appraisal of the Apartment Complex

When buying an apartment complex it is very important to know exactly how much the property is actually worth. This information can be very important when considering what your monthly living expenses will be and determining how much cash you can afford to pay when purchasing an apartment. Buying a property before you know the value could lead you to buying a property that turns out to be less valuable than you anticipated.

If you want to make sure that you are choosing a property worth your time and money then you should consider getting an appraisal of the property. This is important even for people who plan on renting out the property too as it can save considerable money for the future tenants.

Finance the Purchase of an Apartment Complex

One of the most important steps with apartment purchases is financing your purchase, and for good reason. You’ll want to make sure you’re able to repay the funds according to your lease terms and then some. A good place to start is talking with your existing bank as they may have financing options that will work for your planned apartment purchase. If you don’t have a current line of credit with your bank, you may want to explore other financing options like a home equity loan.

Another option is to look into lender’s programs that allow you to purchase a home without a credit check and without any income-based qualifying in the form of putting down as little as 3% of the home’s value. Programs like these come with a hefty down payment as well as cumbersome monthly mortgage payments. Of course, it all depends on whether or not you’re truly financially prepared to make the purchase.

Types of Financing for Apartments

If you’re looking for financing for a new apartment complex, you have a few different options available. Borrowers sometimes are unsure about which option is best for their situation. There are three general variations.

{1}. Buy-down: This purchase-based financing comes in two forms: a rent-to-own deal or a lease-option option.
{2}. Finance-to-own: This is an option available for developers who own land with the intention of developing for sale. There are two variations: a long-term investor situation and a lease or flip agreement situation.
{3}. Bridge financing: This provides interim financing between repurchase offers from a developer. It’s like a feasibility study that delves into several variables.

Recourse vs Non-recourse Loans

A mortgage loan is a loan you take out to purchase a home. The loan is guaranteed by the bank. You repay both the principal and interest on the loan.

A loan that is made available to you for purchasing a new home is referred to as a recourse loan. The lender involved in this type of loan has recourse against you for the entire amount of the loan. If you fail to repay the loan, the bank will come after you to get the money back.

Lenders offering mortgage loans come with a variety of different terms. One of the most common is the recourse loan. At the time of writing this article, this article is available to as original article is available to view.

Lender Required Reserves for Buying an Apartment Complex

The reserving or Readiness application section is where you will state that the following:

Detailed income and expense statements for the past three years. State taxes paid. Itemize all personal loans and payments.

Cost of the application fee.

Appendix is used by the company.

Company’s audit to be requested later.

Key Items Considered by Lenders During the Loan Approval Process

Whether you are buying a home or an apartment, the key steps are often the same. These are the major items that need to be considered at every stage of the process:

Application Information This is the first stage of the loan approval process. A lender will conduct a pre-qualification form check, which will outline your monthly budget and other relevant financial documents and which will also help to determine whether you qualify for a loan. Usually, a pre-qualification will consist of three different forms. The first form will usually ask for your wage stub or other evidence of your income; the second form will ask for family information, and the third form will ask for your personal information such as ID, address, and employment details. If during the pre-qualification phase, the lender finds you do not qualify for a loan, you will not be able to proceed. If you are pre-qualified and the lender finds you do qualify, you will be forwarded to the Underwriting phase.

Close on the Purchase of the Apartment Complex

Once you have the paperwork drawn up and signed, you should follow these steps to ensure you and the seller close on the purchase of the apartment complex:

Step 1:

The buyer and seller need to close on the purchase. This means the buyer returns the earnest money check to the seller. The buyer executes the deed to complete the transaction.

Step 2:

Write a six-month rental contract or lease agreement. If you have completely financed the transaction, the seller will need to sign that agreement.

Step 3:

If the seller is involved in any management of the unit, set up an operating agreement to take over day-to-day management of the property from the seller. This can especially be important if the seller is a management company.

Step 4:

In the initial lease or rental contract, specify a date for the move-in. For one-year leases, Rentschler Living suggests the move-in date be about ten days before the initial rental date. You’ll want to conduct a walk-through to determine the best move-in date.

Step 5:

Fire the current lease or rental and put a new property manager on the lease. This is the owner of rental property doing a courtesy call to inform tenants that the property will soon be sold.

Step 6:

Select an Escrow Agent or Title Company Experienced With Apartments

Close on the Apartment Complex on a Financially Advantageous Day of the Month

If you’re moving into a new apartment in the near future, this post provides insight into how to buy an apartment complex on the best financially advantageous day and in the months of your grades. This information is useful if you’re looking to save money when buying a new apartment and you want to get the least expensive monthly rent possible.

Ensure Apartment Complex Security Deposits Are Properly Transferred to You

In a lot of states, landlords and building owners may require that you pay one or more security deposits to cover potential damages, cleaning or other expenses. But you need to make sure these funds are first transferred to you in a timely manner.

As you move into your new apartment complex, you will be required to provide a security deposit check or a cashier’s check to the management company. You should send these payments to the address indicated on the check…so make sure you get the right one.

When you pay your rent or deposit check, make sure that the amounts appear exactly as they do in your check register. No deductions or extras. These funds should be transferred to you in a timely manner, and should be provided to you within one to two business days.

How to Buy an Apartment Complex Frequently Asked Questions (FAQs)

So, you’re looking to buy a new apartment complex? Before you begin your search, we combed through the questions we’ve heard most commonly as well as the most frequently asked purchase price questions and whittled them down to the essentials in this article. It’s certainly not exhaustive, but we’ve tried to answer some of the key and somewhat complicated questions you’ll need to ask yourself before buying.

Do I have an Income to Support My Housing Costs?

If you’re contemplating buying an apartment complex, one of the first questions you need to ask yourself is whether you have an income that will be capable of supporting the costs of ownership. In other words, how much do you earn per year?

While the dream is to buy a property that exceeds your income, this is rarely the case. The correct question to ask is how much income is needed to support the cost of monthly payments.

How much money can you make if you buy an apartment complex?

An apartment complex can be one of the smartest investments you’ll ever make, and can put you on a path to greater wealth in the future.

If you don’t already own an apartment complex, you might be wondering how rent and expenses could possibly pay you a solid dividend or return on investment.

Well, while you won’t necessarily make a lot of money if you buy an apartment complex today, you’ll own a piece of a business that’s very profitable.

And you never know what the future may bring. Maybe one day, you’ll decide to sell the complex. And who knows, you might even make a killing.

So, how do you buy an apartment complex? What do you need to know before going in? What are the steps you should take? This guide will give you all the information you need to know about how to buy an apartment complex.

How do you buy an apartment complex with no money down?

Many new investors will start out with their own money.

Monies saved from job hopping, side jobs, royalties, and bonuses are perfect for this.

Investors should not put all of their eggs in one basket but buy the asset with the money they have available to them.

These assets involve high risk but provide high probability returns.

Ideally, you want to buy the asset, fix it up, and then either sell the asset or flip the asset for a profit or rent the property.

Investors should only put their money into a property when:

  • The property is priced reasonably
  • The property is in a high liquidity position

The property is under-valued by the current market value of the market.

In the US, you may become a landlord by purchasing a multifamily rental property (both apartment complexes and separate houses that are collectively a rental property). Your rental property may be a direct investment or it may be a pass-through investment. Direct investments are those in which the investor uses his or her own money. Pass-through investments are those in which investors just receive the income that is being earned. Investors may make a profit through a pass-through investment by using a mortgage.

Are there any tax benefits of buying an apartment complex?

Apartment complexes can be very entertaining and profitable. There are many benefits of buying an apartment complex as listed below.

Firstly, it can save a lot of money. Normally, apartment complexes are bought from owners who want to sell it for quick cash. Buying an apartment complex is a hassle-free process since it has already been vetted by the local building department, and there are no surprises.

Secondly, apartment complexes are good for the neighborhood. Apartment complexes are usually located in neighborhoods that have a lot of decent homes. This is beneficial for the people who work in the neighborhood. The presence of an apartment complex adds value to the area.

Thirdly, apartment communities have good demographics. People who live in apartment communities are the ones who love to live in apartments. People who rent apartments usually do not want to move. As a result, the demographics of the residents are very good.

Fourthly, selling an apartment community is a little bit easier. Apartment complexes have several advantages over the individual apartment homes and can sell faster.

Fifthly, apartment communities are easier to manage, and you don’t need to worry about maintaining your pool, landscaping, keeping your yard clean, etc.

Their maintenance is already taken care of.

Lastly, apartment complexes are good investments. Apartments are the most popular property in the US with roughly 200,000 apartments being built every year.

Bottom Line

With real estate being an expensive endeavour, it is a very stressful situation to find a place of your own to call home. Unlike schools, businesses and most other places you get to choose your own house or apartment. It is a very important decision and one which you will be spending the next 5-10 years of your life in. Your decision needs to be the right one.