Renting vs buying an apartment in New Hampshire

It’s no surprise that home prices have continued to increase throughout the country. In New Hampshire alone, we’ve seen property values rise up to 12 percent over the past year. Areas that once appealed to many first-time home buyers have skyrocketed, leaving fewer homes to choose from. This has created an extremely competitive seller’s market, forcing buyers to start bidding wars amongst each other. Maybe it’s the first time you’re hearing this, and now you’re second-guessing your decision to buy a home. Maybe renting makes more financial sense. Well, that’s a question only you can answer. In this article, we’re going to compare the difference between renting vs buying an apartment in New Hampshire.

Why New Hampshire?

New Hampshire is one of the most charming states in the whole country. It’s ideal for any lifestyle since it’s home to thriving cities, mountain peaks, and coastline views. Moving to New Hampshire is the best option for you if you like winter sports like skiing, snowboarding, camping, and rock climbing.

While the median price of a home in this New England state is higher than the national average, some argue that it’s worth it. On the other hand, in some cities of southern New Hampshire, rent is much cheaper than the national average. This is where the debate about renting vs buying an apartment in New Hampshire comes from.

A man getting a key after buying an apartment in New Hampshire.
It’s undeniable that renting vs buying an apartment in New Hampshire dilemma is not easy.

Buying an Apartment in New Hampshire

We’ll start with the option that was considered the default in the past: buying an apartment rather than renting. 

There’s a reason why homeownership was once considered an American dream come true. A home was considered to be more than merely a place to raise a family and live. It was an investment whose value would almost surely rise over time. So, let’s look at all the upsides and drawbacks of buying vs renting an apartment in New Hampshire.


According to the experts at My Brooks Moving New Hampshire, the majority of people view homeownership as a lifetime commitment. Buying a house or an apartment once means you’ll spend the rest of your life in it, along with your retirement years. It gives you a sense of stability in these unprecedented times. It also provides you with an opportunity to customize and personalize your apartment as much as you want since you won’t have to worry about landlords and future buyers. Generally speaking, making such a huge financial decision is a big deal, and this is what makes the initial higher cost of buying a home worth it.

Lower Cost Over Time

Despite the higher initial costs, buying an apartment might ultimately be less expensive than renting in New Hampshire’s competitive real estate market. Your monthly earnings might increase by several hundred dollars as a result of the difference between the two. Of course, the NH city you choose, the type of apartment you select, the amount of the down payment, and the length of the mortgage are all factors that need to be considered since they can greatly impact the cost.

Woman calculating the cost of renting vs buying an apartment in New Hampshire.
When you put it down on paper, it seems that buying is much cheaper over time.

It’s An Investment

Rent is a monthly payment for someone else’s investment. However, when you own a home, you increase the value of your asset and build equity in your home.

Every time you renovate or improve your house, its overall value rises over time. Not to mention how much your overall level of life will increase as a result of these home upgrades.

Renting in New Hampshire

Renting is something many people assume is a given when they don’t have the money to buy a home, even though owning a home is a significant financial choice. But many people are unaware that renting occasionally costs more than buying. Let’s examine all the benefits and drawbacks of renting in detail.

Lower Initial Costs

It’s true: renting seems like a much more affordable choice. Usually, renting an apartment means you’ll have to have enough cash for a security deposit and the first and final month’s rent. Compared to purchase, this is a relatively small amount to pay. Of course, in most cases, landlords will ask to look at your credit score and history, but that’s nothing compared to the process of getting a mortgage and buying a home.

Less Stress

Finding a place to rent is much less stressful than looking for an apartment to buy. This is somewhat connected to the previously mentioned ‘flexibility .’In case you realize, after a few months, that you don’t like your new apartment or your neighborhood, you can always look for a new one to rent. The main source of stress here will be the moving process, although that doesn’t have to be the case if you rely on experienced people to help you move into your new apartment.


Renting may provide a lot of flexibility if you’re looking for a temporary fix. Renters are more adaptable and can change their housing more rapidly. For instance, if you need to relocate for work, you can easily provide your notice to quit your lease and move as a renter. Or, if your family is growing and you need a bigger place, you won’t be stuck in a small apartment. Switching apartments as a renter is much easier than having to sell your home in order to move.

A couple carrying moving boxes.
Although moving can be stressful, some prefer the flexibility to change homes that renting gives them.

Final Thoughts on Renting vs. Buying an Apartment in New Hampshire

The choice between renting vs buying an apartment in New Hampshire ultimately depends on your individual circumstances. Do you have enough money for a down payment, or will you need to put money aside for a while? Do you plan to relocate, or would you want to see many places before settling on one? Or do you plan on settling down and starting a family in one place? Regardless of which path you choose, just remember there are always exceptions to each of these examples we’ve given. Moreover, what works for one person may not work for you.

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