This article originally appeared on the Springs "You're Home Blog."
What qualities do you look for when choosing a home? Apartments.com, the leading Internet listing of rental homes, conducted a survey of more than 2,500 renters to learn more about the priorities that shape their housing decisions. How does it compare with your own values?
Why Do You Rent?
More than half of the respondents cited various financial reasons for choosing to rent, while one-third like the convenience of a maintenance-free home. Of those who plan to move within the next year, 56% said it was for a change of scenery. Interestingly, 42% of the renters indicated that they have no plans to purchase in the future.
What Is The Single Most Important Factor In Choosing A Rental Home?
Although financial reasons are the primary motivators for renting, other qualities enter the picture when selecting a specific home. Affordability was named by 36% of respondents, followed by location in a safe area, which was the choice of 23%. The third factor was living near a job or school, with a total of 12%. Brad Long, president of Apartments.com, pointed out that the emphasis on affordability, safety and convenience that renters tend to dismiss the emphasis on trendy neighborhoods.
How Do You Feel About Rental Incentives?
While incentives like reduced rent and no security deposit have been sharply curtailed as demand for rentals has risen, only 28% of respondents considered them to be a key factor, with 14% considering them to be absolutely necessary. Most renters accept the reality of the current market, with 36% calling them nice, but not a deal-breaker. When ranking offers that would prompt them to move immediately, the most popular incentive was a discount on monthly rent. Next was a larger space for the same amount of money, with free rent for one month coming in third.
Our team at Springs Apartments understands that there is a lot of competition for your housing dollars. We appreciate your decision to make your home with us, and our goal is to provide a community that offers everything you are looking for.
How do your priorities compare with the survey's answers? Let us know in the comments!