Abberly Place Blog

Many people are told when they are younger that renting is only for college graduates or people who cannot afford to buy.  Many parents hammer these ideas into their children and tell them that renting is equivalent to throwing money away every month.  Fortunately, today people are beginning to finally think for themselves and challenge these ideas.  Here are 4 reasons to pat yourself on the back for deciding to rent an apartment in Garner, NC at an HHHunt Community!
 
1.  Renting can save money

At the very minimum you’ll be shelling out PITI for your home. That is:

   1. Principal
   2. Interest
   3. Tax
   4. Insurance

The PITI doesn’t include property maintenance like maintaining the yard, paint, plumbing, repairs, decorating, etc… When you rent an apartment in Garner at an HHHunt community, the monthly payment is almost always quite a bit less than the PITI in your area and there are no maintenance expenses!

2. Homeowners’ tax deductions are overstated

According to research quoted by MSN, “… half of homeowners don’t get a break, because even with mortgage interest and property taxes, their total deductions do not exceed the standard federal tax deduction ($11,900 for couples and $5,450 for singles)”.

For these folks, it’s like spending $100 to save $20. They’re better off saving the difference and investing it.   Even if there is a “break” on your taxes, you typically had to spend more than you would have spent to rent to get back that $20 for every $100 spent in interest payments.

3. Renting gives you flexibility

For the up and coming young professional, you’re better off renting and saving for a few years than to buy a small condo. Who knows how fast you will outgrow it?  When you own a home, you can’t always sell it when you need to sell it at the price you want to sell it in order to accept a new employment opportunity.  If you have owned a home and don’t want the constant maintenance responsibility, renting gives you the opportunity to enjoy your weekends instead of completing that “to do” list.

4.  Our superb service teams!

Most apartment communities offer 24 hour emergency maintenance and technicians who are skilled in HVAC, plumbing, and electrical.  At an HHHunt Community, our service teams take great pride in offering prompt and professional service to you.  Whether you need a light bulb changed or a new compressor for your AC unit, we are there to take care of you as fast and efficient as possible.  We are always a phone call or email away and most service requests are performed on the same day or within 24 hours!

The question has arisen more and more. Should I rent or buy? The answer is personal to your situation. While mortgage rates and housing prices are low, there is still a lot to be said for renting an apartment in Garner, NC.

Based on your financial situation, your job situation and frankly, how much time you want to spend on home repairs, the answer could be very different for every individual or family.

There is much to be said about renting. Sudden roof leaks or broken appliances can make your wallet take a hit. Unforeseen home expenses cannot really be incorporated into a budget.
 
If there is any possibility that you will not stay in the Raleigh area or that your job will relocate you, renting may be a better option. Closing costs and fees can really add up, not to mention the first several years of mortgage payments go to the interest alone not the principal.

But there is an even more practical reason for renting. Maybe you just don’t have any interest in home repairs and yard maintenance. Apartments are the solution to maintenance free living without the condo fees. With so much to do in and around the Raleigh area your time off should be your time off to spend however you like.

Talk to a financial advisor and review your expenses first when considering renting.

Contact Abberly Place Apartment Homes if you want more information on renting in Garner, NC.