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Apartment Life: Rent vs. Owning

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If you believe apartment living can’t meet the same level of value found in home ownership, you need to consider Renaissance Lofts and The Grove Apartments. Unique touches, angles, and views throughout each residence give evidence of an architect’s attention to craftsmanship. The lock-and-leave convenience of apartment living exceeds even townhomes in security and energy efficiency and your townhome will never have a top floor community room like the Renaissance Lofts’.

A boutique style and quiet neighborhood location puts Renaissance Lofts in a class of its own.

All the Comforts of Home

• Generous private outdoor living spaces
• Secure indoor parking
• Premium home finishes and appliances
• Energy efficient lighting

And extras home ownership will never have:

• Walking proximity to Downtown Bismarck services and entertainment
• 4th floor private terrace views
• Extra space in a large community room
• Commercial grade construction standards

Never Sweat the Small Stuff

Home ownership comes with the costs and time demands of upkeep and maintenance. Renaissance Lofts and The Grove Apartments takes care of all the details that drag you down – and cost extra money:
• Snow removal, lawn care and/or HOA fees
• Interior and exterior maintenance
• Property taxes
• High utility costs
• High insurance costs
• Better flexibility

A Cost Comparison: Is Renting Right for You?

Convenience factors have greater value for some people and less for others, but the costs involved with property ownership are real numbers.

At today’s 7.5% average interest rate (12/23) according to Zillow’s rent vs buy calculator:

Cost: After 4 years, your total cost of homeownership (down payment, mortgage, taxes, etc.) for a $350,000 home would be $199,193. Your total cost to rent would be $123,069. Renting leaves you with $76,125 in your pocket (including the money you didn’t spend on a down payment).


Gain: After 4 years, if you buy, your home will have $97,673 in equity (available to you when you sell). However, if you instead rent and invest your down payment and the other money you save, at a 6% return rate it will earn around $13,283 in 4 years.


Bottom line: Looking at your gross costs, equity and investment potential, it’s better for you to buy than rent if you plan to live in your home more than 6 years and 5 months.

If you seek long term gains at the cost of flexibility, buying a home may be your best move. But if you’d rather keep that down payment and spend a few weeks in Florida every winter without worrying about ice dams, talk to the leasing team at Renaissance Lofts.

Purchase Townhome

$349,000 (3br/3ba)
  • Principal and Interest: $2203/mo
  • Property taxes: $356/mo
  • Home insurance: $223/mo
  • HOA fees: $150/mo
  • PMI: $131
  • Utilities not factored
  • Data from Nerdwallet.

Questions? We have answers about living at Renaissance Lofts.