My work at Trimark Properties in Gainesville revolves around college students seeking apartments near UF or Gainesville houses for rent in this small University of Florida town. The freshmen prefer dorms which allow them to transition into college life in the first year and then move into an apartment.

Here are the top 5 reasons why students prefer renting an apartment over buying a condo or a house.

Flexibility: Students at this point are just beginning their journey into adulthood. They are unsure of the options that lay ahead of them and buying a house would mean more responsibility and less freedom of movement. If they rent an apartment and plan to switch schools after the first year, there would not be anything holding them back. Also during summer, most of the students head back home, or they go abroad to study. Buying a house would result in total immobility.

“Trimark Properties builds apartment complexes that are specifically designed for the needs of students, while also supporting the ideals set by the city of Gainesville and the historic board. As a result, Trimark has won thirty-five Gainesville City Beautification Awards for our apartment developments and consistently,” said Aubrey Morey, VP of Sales and Marketing for Trimark Properties.

Temporary: College students are aware that renting is temporary. They are in a transitioning period of their lives. For e.g., a student attending UF is not certain that they will eventually plan on settling down in Gainesville after graduation. Most students are in Gainesville for four years and then they move on to another city to start their career. Graduate students attending Law, Business school may even be there for less. Renting is often the right choice.

First Time Home Buyer Credit: There are several incentives offered by the government and private institutions to first time home buyers which are actually quite lucrative and have low-interest rates. Buying a home at this stage in life will also deprive them of this benefit later in life. Renting an apartment is a wise thing for college students.

Maintenance Costs: When renting an apartment, the college student does not have to worry about an appliance breaking down or if there's a water leak from the unit above. The property management company fixes such type of maintenance issues. However, if this were a condo or a house purchased by the college student, maintenance expenditure is borne out of their pockets. Renting an apartment means low maintenance costs for students, which means less burden on their shoulders.

Payments: When renting an apartment, college students can split the rent and utilities between roommates. This is plain and simple. But if the property is purchased, there are other costs like: a mortgage, down payment, closing costs, property taxes, maintenance costs, etc. which must be paid by the owner of the property.

University of Florida Senior Lizzy Shebanek says, "I have been a renter since I moved to Gainesville in my freshman year at the University of Florida. I live in apartments near UF and I totally love it. It's not my plan to settle down in Gainesville and I would not consider buying a home at this age."

Buying a house is quite a commitment to make, especially when the college students are still in college and are in their early 20’s.  Buying and selling a home also takes time, effort, and money. When college students aren't sure where they will end up after graduation, renting is often the smart choice.

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