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Tiny houses are a popular trend these days, but small apartments have been around forever. A studio apartment can be the perfect fit for lots of people, so with that in mind, here’s what you should know:

The Basics
Simply put, a studio is a one-room apartment, but that doesn’t mean they’re all the same. The average size of a studio apartment in the United States is between 500 to 600 feet. The size obviously influences the price. Smaller units may require sleeping on a pullout sofa, while others can be quite spacious.

Who Wants a Studio?
Young people buying their first home often invest in studio apartments because they’re affordable. It’s a great way to enter the real estate market for couples who don’t have kids or people who don’t spend a lot of time in their home. But retirees also can benefit from studios if they’re looking to save money or downsize because they no longer want to care for a larger home.

The Advantages of Studios
The biggest plus is cost because studio apartments, in general, are more affordable than one-bedroom units. That can get you in the trendy urban neighborhood you want to live in while putting less strain on your finances. They also help save money because you’ll spend less on furniture and utilities.

They’re also easier to clean and maintain, which gives you more leisure time. Studios are more environmentally friendly than multi-room apartments and encourage simpler living with less clutter. Lastly, because they’re more affordable, studios are often easier to sell when the time comes.

The Downside
Studio living isn’t a great fit for families, as people are going to want some privacy now and then. Another factor is the lack of space for guests. If you like to host parties or want your grandkids to stay with you often, a larger home may be in order.

It’s all about finding the right apartment for you.

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