When deciding between an apartment or house in Bothell, WA, it’s important to consider not just the monthly rent or mortgage, but the total cost of living. For many first-time homebuyers in Bothell, townhomes strike a balance between the affordability of apartments and the space of single-family homes. In fact, townhomes accounted for 38% of new home purchases in Bothell last year. But what’s the right choice for your budget and lifestyle? Let’s break down the key cost differences between apartments and houses in Bothell.
Renting vs. Owning in Bothell: What You’ll Pay
The median rent for a 2-bedroom apartment in Bothell is currently around $2,100 per month, while a typical 3-bedroom house rents for closer to $2,800. Buying a home in Bothell will cost $500,000 on average, which translates to a monthly mortgage of roughly $2,400. So purely based on monthly housing costs, renting an apartment is the most affordable option in Bothell.
However, these base costs don’t tell the full story. Apartments often come with additional fees for parking, pets, storage, and amenities that can add hundreds to your monthly bill. Houses incur costs like property taxes, insurance, HOA dues, and higher utility bills that apartment renters don’t pay directly. The table below gives a more comprehensive cost comparison:
| Monthly Cost | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $2,100 | $2,400 |
| Utilities | $150 | $250 |
| Internet | $60 | $80 |
| Insurance | $15 (renters) | $80 (homeowners) |
| Maintenance & Repairs | $0 | $150 |
| HOA/Fees | $50 | $250 |
| Total | $2,375 | $3,210 |
Estimates are for mid-range units with typical usage.
As you can see, the total monthly cost to rent a 2BR apartment in Bothell is about $835 less than buying a 3BR house, even with additional apartment fees factored in. Houses come with substantially higher monthly expenses across the board.
Utility and Upkeep Differences
In addition to higher base utility costs, houses in Bothell tend to require more electricity and water to maintain than apartments. Some key cost drivers include:
- Outdoor watering for lawns and gardens
- Larger HVAC systems to heat and cool more square footage
- Older, less efficient appliances and infrastructure
- Higher occupancy (more residents) in houses vs. apartments
Apartments offer cost savings by consolidating utilities across multiple units. Newer apartment buildings in Bothell also tend to feature energy-efficient appliances, windows, and heating/cooling systems that keep utility bills low. Some complexes even include utilities like water, trash, and internet in the base rent.
Houses come with much higher maintenance costs and hassles compared to apartments. As a homeowner, you’re responsible for all upkeep and repairs, including big-ticket items like the roof, plumbing, and exterior. Expect to budget at least 1-2% of your home’s value annually for maintenance. Many Bothell homes have sizable yards that require ongoing landscaping and irrigation, adding to the monthly expense.
Lifestyle Tradeoffs
Of course, your housing choice isn’t just a financial decision. There are important lifestyle factors to consider as well. Apartments offer perks like fitness centers, pools, social events, and low-maintenance living that appeal to many Bothell residents, especially young professionals. The tradeoff is less square footage, outdoor space, and privacy compared to a house.
For families, a house with a spacious yard is often worth the added expense. Houses typically allow dogs and other pets without breed or size restrictions, while many Bothell apartments either prohibit pets entirely or charge hefty fees. However, a house farther from the town center may mean a longer commute and fewer walkable amenities compared to centrally located apartments.
Parking is another consideration – apartments usually come with just one or two designated spots, while most houses in Bothell have garages and ample driveway space. Guest parking is often easier at a house as well.
Which Is Cheaper Long Term in Bothell?
While renting an apartment is undoubtedly cheaper than buying a house on a monthly basis, owning can be more economical long-term. Let’s compare the total costs over a 5-year period, assuming a 2% annual rent increase and a 3% annual rise in home values:
- Renting a 2BR apartment for 5 years: $150,000 in total rent paid
- Owning a $500K house for 5 years: $186,000 in total mortgage payments, but $75,000 gained in equity
So even though owning requires a higher monthly outlay, you’ll end up spending less in the long run. After 5 years, an apartment renter will have paid $150,000 in rent with no asset to show for it, while a homeowner will have paid $186,000 but gained a $575,000 asset (the home value plus appreciation). Even after accounting for maintenance, insurance, property taxes, and other homeownership costs, buying a house in Bothell tends to be cheaper than renting long-term.
FAQs About Housing Costs in Bothell
How much more does a house cost per month compared to an apartment in Bothell?
On average, expect to pay about $800-1000 more per month for a 3BR house compared to a 2BR apartment in Bothell when accounting for rent/mortgage, utilities, maintenance, and fees.
Do houses always have higher utility bills than apartments?
In most cases, yes. Houses in Bothell are larger and have more occupants on average than apartments, driving up costs for electricity, water, trash, and internet. Some apartments include certain utilities in the rent.
I have a large dog. Is it still cheaper to rent an apartment?
It depends. Many Bothell apartments charge pet rent ranging from $35-100 per month, plus a few hundred dollars in upfront pet fees. For a large dog, it may be more economical to rent or buy a house without pet restrictions, even with the higher base cost.
Making the Right Housing Choice in Bothell
Ultimately, choosing between an apartment or a house in Bothell is a personal decision that depends on your monthly budget, space needs, lifestyle preferences, and long-term financial goals. Apartments offer the lowest monthly expense and the most amenities, but the least space and privacy. Houses provide more room to spread out, private yards, and the opportunity to build equity, but come with higher monthly costs and maintenance responsibilities.
For many Bothell residents, the sweet spot is a townhome or condo that offers more square footage than an apartment but a lower price tag and less upkeep than a single-family house. Whichever option you choose, be sure to factor in the full range of monthly expenses, not just rent vs. mortgage. Budgeting for things like property taxes, HOA dues, and home maintenance will give you the clearest picture of what you can comfortably afford in Bothell.