Families looking for a housing change may want to consider renting an apartment

For years, people equated "The American Dream" with homeownership. But according to a recent Chicago Tribune article, “Some folks are just content to rent”, there is a growing population of die-hard renters that have no plans to buy a home. For them, renting is their dream lifestyle.

One renter featured in the article is Russ Petry, who along with his wife, has been renting a home at The Arbors of Brookdale in Naperville for eight years and has no plans to buy a home again.  Why does Petry rent versus buy?

"The maintenance-free living allows us to have more time to spend on fun activities versus shoveling snow or mowing the lawn," says Petry, a Vietnam War veteran.

"Plus, my wife and I are very active, and having an on-site clubhouse with a workout facility, pool and sauna has been a really nice perk. We could buy if we wanted to — I am eligible for a VA loan — but we are just not looking to tackle all of the maintenance, upkeep and taxes that come along with homeownership at this time."

It’s not only single adults or couples opting to rent at The Arbors of Brookdale, but young families as well. 

According to Barbara J. Gaffen, co-CEO of Prime Property Investors (PPI), which owns and manages The Arbors of Brookdale community, families with young children make up 25 percent of the community’s tenants. 

Gaffen notes that renting in a community like The Arbors can be a positive experience for families.

 If you are a family considering a housing change here is a list of things you may not know about apartment living that could be a game changer in your home search.

• Space is essential when you have multiple kids.  Most people think only single-family homes offer appropriate family space. However at The Arbors, each apartment has a walk up private entrance, open floor plans and a choice of two or three spacious bedrooms. 

• Location is key for anyone, but beyond being close to transportation, retail and restaurants, when you have kids you want to be in proximity to great schools and parks.

“One of the top draws for the families who live at The Arbors is the schools,” said Gaffen. “The Arbors is located in Naperville’s top rated school district, district 204.  Plus the elementary and middle schools are both within walking distance.”

The Arbors also has an onsite playground and is located right across the street from the forest preserve, providing great opportunity for hiking, biking and having family picnics.

• The price of homeownership can be riddled with extra expenses you might not think about like additional insurance, taxes and general upkeep and maintenance.  Renting in a community like The Arbors can be less of a financial stress and/or burden.

“If something breaks, we fix it.  The renter does not have to worry about finding a handyman or the expense that comes along with it,” said Gaffen. “Additionally, we take care of the general maintenance and upkeep of the grounds. Families who rent at The Arbors don’t have to worry about shoveling the drive or home maintenance projects. Especially this time of year, residence at The Arbors do not have to experience the burden of getting up early to shovel snow before taking the kids to school.”

• Living in a family friendly community can enhance a family lifestyle. Every parent wants to live in a community that provides a fun and safe environment for their children.

“Families are drawn to The Arbors because it provides affordable housing in a safe neighborhood that includes an onsite playground, quality schools, a swimming pool and fun family focused activities,” said Gaffen.

The Arbors boasts an indoor and outdoor pool, eliminating any extra cost for joining a local club. Additionally, the community hosts three annual parties - a holiday party, where Santa comes to visit; an Easter party with the Easter Bunny and Easter egg hunt; and a summer party held at the outdoor pool that always includes a bouncy house.

The “American Dream” is changing for most families. It’s not just about homeownership but the opportunity to live where they want and how they want, and for many that means renting.  Communities like The Arbors are helping meet families’ shifting needs by providing an opportunity to live and experience a family friendly lifestyle in a desirable location.