Financial: The most important advantage of living in an apartment is the financial aspect of the rent. Rent is usually cheaper than a mortgage. In addition to an overall lower monthly payment, other financial components, such as maintenance and utilities, are typically lower due to the smaller area and the landlord/owner's general liability to the tenant.
Amenities: Unlike houses, apartment complexes are usually built with specific amenities such as swimming pools, gyms, grocery stores, and laundromats right on the premises, or at least nearby. While you can always incorporate these items into your home, the financial commitment isn't nearly as rewarding. Living in an apartment can be a very comfortable form of living.
Safety: Although homeowners often invest in some form of home security system, apartment complexes also invest in the overall security of their residents. The proximity of neighbors (as opposed to being the only person in the house at all times) and the security measures typical of condominiums indicate that multi-family dwellings are the safest places for single women, children, families, and the elderly.
Size: The proportions of the apartments are simply pleasant. A recent college graduate usually looks for a place to call home; a living room, a bedroom, a bathroom, and maybe a kitchen to show off. This space doesn't have to be big and fancy, and it just needs to feel safe and quaint (even for the kids). The same basic need is evident in most people, college kids, single women, single men, and even friends who choose to live as roommates.
Community: Other significant advantages of living in apartments are the social impact of proximity and the connections one develops during one's stay. Although there is a sense of community in rural and suburban areas, the proximity of apartment living increases the likelihood of lifelong connections.
Prestige Group prelaunch apartment is Prestige Serenity Shores.