Pros and Cons: Modern vs. Historic | Chappaqua Real Estate
Should you rent in a newer or older apartment building? New data shows older rentals — especially those in buildings with fewer than 10 units — tend to have lower rents. But cost isn’t the only factor for today’s renters.
Jessica Lau, 24, was initially concerned with location and safety. As a dental student at Boston University, proximity to school was at the top of her apartment wish list.
Then she started talking to locals.
“At first, I didn’t care about the age of the building where I lived,” she said. “But after I talked to them, I changed my mind and looked for something modern and new.”
Turns out, Lau’s friends who live in older Boston apartment buildings and brownstones have battled a few unwanted pests. One friend didn’t cook in her kitchen for a year because she couldn’t get rid of mice.
As a result, Lau selected a large, full-service apartment building built in the early 2000s.
“We pay $3,570 for a 2-bedroom,” she said. “We got a good deal on our unit.”
South End apartments tend to be on the pricier side — the median rent is $3,032 per month versus $2,497 for Boston as a whole — but Lau splits the cost with roommates. Two women have their own bedrooms, and one has her bed in the living room.
“It definitely changed the dynamic, but with a resident lounge, it works,” she said.
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Jessica’s newer, larger building
Near Boston’s South End, One Back Bay embodies the luxury apartment experience with a 24-hour concierge and valet service. A studio apartment in the 2009-built building is available for $3,390 per month.
Then she started talking to locals.
“At first, I didn’t care about the age of the building where I lived,” she said. “But after I talked to them, I changed my mind and looked for something modern and new.”
Turns out, Lau’s friends who live in older Boston apartment buildings and brownstones have battled a few unwanted pests. One friend didn’t cook in her kitchen for a year because she couldn’t get rid of mice.
As a result, Lau selected a large, full-service apartment building built in the early 2000s.
“We pay $3,570 for a 2-bedroom,” she said. “We got a good deal on our unit.”
South End apartments tend to be on the pricier side — the median rent is $3,032 per month versus $2,497 for Boston as a whole — but Lau splits the cost with roommates. Two women have their own bedrooms, and one has her bed in the living room.
“It definitely changed the dynamic, but with a resident lounge, it works,” she said.
read more....
http://www.zillow.com/blog/old-vs-new-apartments-165110/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29
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