A dream home used to have a white picket fence, well-manicured lawns, and a sprawling backyard perfect for Sunday barbecues. With the priority of people shifting to convenience and efficiency, trends in the housing market have undergone a major shift in recent years. For today’s starting families and couples, the new dream home is an apartment or a condo unit. As discussed in a recent article from The Wall Street Journal, this is the era of multifamily construction.
Apartment construction over the past year climbed to a new 25-year high.
Single-family housing permits through August are running exactly in line with last year’s pace, the Commerce Department reported Thursday. Hopes for a big pick-up in single-family construction, which some economists at the beginning of the year had said would propel the economy to the ever-elusive 3% annual growth mark this year, haven’t materialized.
And despite the slide in the seasonally adjusted annual figure for multifamily construction in August, the picture looks different if you look back over the past year. The rental market is booming. Construction of new rentals hasn’t been this high since 1989.
Temecula apartments have seen a steady increase in family occupancy. Due to the many types of apartment units and features, apartments have the versatility that families are drawn to. There are also additional advantages that go with apartment living.
Broken air conditioner or backed-up toilet? Simply inform the building administrator and wait for the repairs to be made. Those who are living in an apartment building are free from the maintenance worries and expenses of a homeowner.
You don’t have to spend extra to play tennis or go swimming. Many apartment complexes have fitness areas, tennis courts, basketball courts, and swimming pools. You can have everything you’ve ever wanted in your own backyard without having to pay for their construction.
Whether you’re living in a gated complex or one with security personnel, most apartments have more layers of security than an average home. You can also enjoy the advantage of alarms installed in individual apartments or a location that is free from the perils of a neighborhood exposed to crime.
Starting families and couples can find apartments in Temecula that give great value for money. Developments such as Sycamore Terrace Apartments offer apartment units that have all the features you need. You can enjoy worry-free apartment living while enjoying the comforts of a true home sweet home.
(Source: Rent Boom: Apartment Construction Hits Highest Level Since 1989, The Wall Street Journal, September 18, 2014)