Do you ever feel like you pay too much rent for space you don’t use? You aren’t alone. There are a lot of positives to downsizing your space to what is considered to be a micro-apartment. These units are between 300 to 500 square feet and are usually located within the heart of a community. It can be a great way to save money too.
Micro apartments seem to become a new trend. In fact, 1 out of 4 renters would consider a micro-apartment. With the growing population size of the world and its major cities, it seems as if micro-apartments may be one of the more sustainable ways to live. And if you feel like you’re never home enough to use the space you pay for, a smaller place may be better for you.
In this article, we’ll take a deep dive into what micro-apartments are, the pros and cons of living in them, and what makes them a good fit for you. In the end, it’s all up to you whether or not it would be a good fit. But if you’re an avid tiny home dreamer, then this may be the perfect first step. If not, we’ll explore an alternative option for you to get you out of apartments entirely.
Key takeaways
- Micro apartments are small, typically 300-500 sq. ft. with basic amenities and are located in big-city communities.
- They are affordable and popular among younger professionals who want to save money and maximize their living space.
- Pros include low monthly rent, in-building amenities, and community, while cons include limited storage and no hosting.
- The Hero Home Program™ can help renters break out of renting and secure great mortgage rates for more space at equal or less cost.
What is a micro-apartment?
Micro-apartments can vary in size, and there is no formal definition of what qualifies a unit to be a micro-apartment. These units come with a kitchen and dining area, a living room space, a bathroom, and a bedroom. All of this is in 300-500 square feet. So it’s a place you want to have if you don’t expect roommates of any kind, human or furry. There are often communal amenities, like laundry and recreational rooms. Some have wifi and housekeeping included in the monthly rent, but that varies by building.
Micro-apartments are often located in the hearts of big-city communities as affordable living places. They are close to transit stations, parks, or other areas of culture or city life that make them appealing despite their small size. Not to mention, there are often many neighbors and friends to make all in the same building, which can have a lot of benefits if you live alone.
Are micro-apartments a good fit for me?
If you are looking to move to a new city or just accepted a job that has you more often at work than home, a micro-apartment may be the perfect place for you. The people that rent micro-apartments are often younger professionals who are just coming into the scene of their profession. If you are looking to maximize your space while minimizing your payment, a micro-apartment has its appeal.
And it is the perfect transition space. Those that rent micro-apartments usually only intend to stay for one or two years as they land on their feet with their new life direction. And they don’t move out due to dissatisfaction, but rather because they move into homes, larger apartments with a partner, or have saved enough money to finance a larger dream of theirs.
Pros and cons of micro-apartments
Now that we’ve gone over the basics, let’s look at the nitty-gritty details of micro-apartments. Like any apartment style, there are pros and cons to these units as well. It’s good to keep these in mind before signing on the dotted line.
Pros
There are a lot of upsides to micro-apartments. While this list is not exhaustive, it is a general overview of what you can expect.
- Lower monthly rent
- No roommates
- In-building facilities
- Community
And so much more! Don’t let the small size fool you. There are plenty of great things that can be packed into a micro-apartment. Not to mention, if you are the kind of person that loves to be organized and maximize your space, then a micro-apartment would be a good challenge for you.
Cons
While there may be a lot of pros, there can be quite a lot of downfalls when it comes to renting a micro-apartment. However, it is good to remember what your deal breakers are, needs, and wants. The cons, in general, may not seem like a big deal to some, or it may be a deal-breaker for others. Here are some cons to living in a micro-apartment:
- No hosting others
- Less storage and furniture space
- Harder to strengthen roots
Another factor is the weather where you would be living. If there is a harsh winter and you’re stuck inside, there wouldn’t be a lot of space to move about to get out that extra energy. If you are prone to cabin fever, a micro-apartment may not be a good fit for you.
Maybe a home sounds better
You may see the appeal to smaller spaces for less rent, but what if you want more space for equal or even less of a payment? Well, it may be time to look into homeownership. Hero Home Program™ can help you break out of the renting cycle, even if you’re not a community hero. We believe that everyone should be able to achieve their dreams of owning their own space. So, we take care and pride in helping renters secure great mortgage rates that are often lower than their monthly rent. And if you still want that tiny space but want your own house, we can help you there too! No matter what size the space, we’re here to help you find a place to call home.
