I'd Never Buy an Apartment. Here's Why

I've lived in apartments for most of my adult life. Last year, my wife and I started discussing the possibility of buying one, and we even viewed a few in person. We liked the idea of having a place that was completely ours. Apartments seemed to be the most convenient option, both because of the lower cost and being located in more walkable neighborhoods.

After experiencing more of the downsides of apartment living firsthand, we've changed our minds completely. If we decide to buy in the future, we're definitely going with a house. If you're a first-time home buyer considering different housing options, it's important to know about the drawbacks of buying an apartment.

There's always the risk of nightmare neighbors

When you live in an apartment, you normally have a lot more neighbors than you would living in a house. You also live in much closer proximity to them.

That's fine if everybody's respectful and gets along well. But either I have the worst luck ever, or there's practically always an annoying neighbor. In my case, I've had the pleasure of living next to:

• Neighbors who threw loud parties five nights a week during peak COVID-19
• Families who let their kids play in the shared driveway -- and glared at anyone who dared to use said driveway for actual driving
• Neighbors who left their dog alone to bark all day
• Some guy who was constantly accusing his wife of cheating on him (this one was low-key entertaining, at least)

Those are just some of the lowlights. Neighbors like these are bad enough when you're renting. I would never want to be stuck next to them for years.

Poor management can also be an issue

Management is another factor that can make or break your experience in an apartment. If you have a complaint, you may need to take it to the property manager. If something in the building breaks down, like a washing machine in a shared laundry room or equipment in the gym, it's typically the property manager that sets up repairs.

This is another reason buying an apartment doesn't appeal to me. I've experienced how frustrating it is when management doesn't repair a building amenity for months.

You can at least check reviews and get an idea of how responsive a building's management is before you buy. But even if management is good now, that doesn't guarantee it will stay that way for the decades that you're paying off your mortgage.

You don't have much privacy or space

One of the other cons of living in close proximity to neighbors is the lack of privacy. You have your own space, but other people have their own space right next to yours. I value my privacy, and apartment living never feels completely private.

Lack of space is another drawback for me. There are certainly large apartments out there. But they tend to be smaller than houses, and they're getting smaller. The average apartment size has decreased 54 square feet over the past 10 years, according to a RentCafe study. You also don't have nearly as much outdoor space with an apartment as you do in a house with a yard.

Be sure before you buy

For me, there's just too much that's out of my control with an apartment. Neighbors, management, and building rules are all things that aren't up to you and can affect your quality of life. I don't mind living in an apartment as a renter, but committing to live in one for years is too much of a risk.

That doesn't mean buying an apartment is a bad idea. It could make sense for you, especially if any of the following are true:

• You live in an expensive area. In cities with a high cost of living, apartments are sometimes the only affordable housing option.
• An apartment would be more convenient or a better fit for your lifestyle. For example, if you'd be much closer to work living in an apartment, it may be worth saving time on your daily commute.
• You prefer apartment living. If an apartment is more your style than a house, then buying one could be a good decision.

Before any home purchase, think about whether you can see yourself living there for at least the next five to 10 years. If you're unsure, it's probably best to wait. If you're excited about a place you've found and know you'd want to stay there long-term, that's when you should start reaching out to quality mortgage lenders.