Abberly Place Apartment Homes

500 Abberly Crest Boulevard, Garner, NC 27529
Call: 866-526-0879 Email UsAbberlyPlace018@myLTSMail.com View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

Apartments Raleigh NC Blog

Reasons to Rent in Retirement – Garner, NC

Joseph Coupal - Friday, December 30, 2016
Abberly Place, Garner, NCFor years, the standard plan for retirement was to pay off your mortgage and continue living in your family home, or perhaps sell that home and pay cash for a smaller home, possibly in a retirement community.

But that plan has changed in recent years, as some retirees have joined their millennial children and grandchildren in choosing to rent rather than buy. While their reasons vary, the trend indicates that renting is losing its stigma and that, for some older people, renting makes good economic sense.

Here are seven reasons to rent in retirement.

You want to try out a new area. Many people fantasize about moving to warm climates when they retire. But those places are big lifestyle changes for many, and some people discover that the land of mosquitoes and endless summer is not for them. Plus, it's hard to choose a neighborhood when you don't know the city. Renting gives you an opportunity to try on a new lifestyle and check out neighborhoods without committing.

You expect to move soon. If you sell the family house and expect to need assisted living within a few years, buying a home to live in for a short time may not make sense. Or perhaps you're planning to move closer to children in a few years, but you want to stay in your hometown a little longer. Renting makes it easier to move quickly.

You can't afford to own a home. The cost of the mortgage is just part of the cost of homeownership. Real estate taxes, condo or HOA fees and homeowners insurance are somewhat predictable, but the cost of repairs is a looming unknown. Those types of expenses require you to keep some cash in reserve. Houses are so expensive, and the expenses are unpredictable sometimes.

You want more freedom. You don't want to spend the rest of your life in one place, and you want to be free for adventure. That might mean long-term travel, living a few years near one child and then a few years near another, or maybe you would like to test out various cities where you could settle. In any of these scenarios, renting makes more sense. When you're renting, it gives you a lot of flexibility.

You want to tap the equity in your home. If your home is worth a lot of money but you have no access to cash for living expenses, selling the home and renting can be a good option for some, though you'll need to do the math and weigh this option versus a reverse mortgage.

You want to move into senior housing. Some older people, especially if they are single, may not like living alone but they may not need assisted living. One option is to rent an apartment in an independent living community, which provides meals, activities and maintenance. Buy-in communities also have these amenities, but a rental community is less of a commitment and may make more financial sense for some.

You can't get a mortgage. Since the foreclosure crisis, lenders have become much stricter about documenting income. Retirement income counts, but you may not have enough money for the home you want, especially if you don't have a lot of cash for a down payment. Buying becomes more difficult when you retire because lending standards are stricter.

For more information on apartments in Garner, NC, contact Abberly Place.

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US News - Money


Happy Holidays from Abberly Place Apartments in Garner, NC

Joseph Coupal - Thursday, December 22, 2016

Abberly Place Apartments in Garner, NCIt is once again "end-of-year" blog post reflection time.  If you are reading this blog post, you care enough about us and our business to invest a minute or two reading here.  That means a lot to us.  The primary reason for this blog is to educate and inform our readers; as an ongoing act of giving thanks for the privilege of earning your continued trust and continued professional partnerships. So we're glad you're here.

We reflect today on the blessings that so many of you bring to both our personal and professional lives. Over the course of 2016, we hope that we have made a difference in many personal and professional lives. This is the true essence and a key measure of professional reward and business success.

It is our sincere wish that all of you bask in the joy of reflection and within the warm confines of family and friends throughout this Holiday season and throughout 2017. Cheers!

Happy Holidays!

- from all of us here at Abberly Place Apartments in Garner, NC.

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More are Considering Renting – Garner, NC

Joseph Coupal - Friday, December 16, 2016

Abberly Place, Garner, NCIf you are planning to rent a home, expect some extra competition. A new survey from real estate marketplace Zillow shows more potential homebuyers, perhaps growing frustrated at the lack of available homes, are considering renting instead.

That means consumers who have no alternative but to rent will go head to head with consumers who have the means to buy a home but have decided to keep their options open and rent a place for a while longer.

Zillow has broken down the ins and outs of the typical home search. For those who want to rent a place, it now takes an average of 10 weeks to find a home to rent. It takes two weeks longer if you're looking in a tight rental market.

But for those who plan to buy a home, the average search takes 17 weeks, in part because rising prices have pushed more homes out of range and the overall decline in inventory means there are fewer homes to choose from. Most consumers who recently moved into a new home, regardless of if they rent or own, considered both buying and renting before settling on one or the other.

Continuing to rent an easy option

Just how tough is it to buy a home these days? The Zillow survey found more than half – 54% – of buyers lost the first home on which they made an offer. For many of these buyers who were renting at the time, continuing to rent became an easy option.

"The line between renting and buying is blurry, and that's a sign of the times," said Zillow Chief Marketing Officer. "It's difficult and time-consuming to find a home to move to, especially in competitive housing markets.”

Keeping rental options open can be a savvy strategy in today's housing market. Renting while still looking to buy allows him or her to avoid settling for a less-than-desirable home.

Still hard to buy, but for a different reason

After the financial crisis more people rented because they simply couldn't qualify for a mortgage under the new, suddenly tighter lending standards. Now that more people can afford to buy, there are fewer homes to purchase.

Zillow notes that renters now make up a larger group of the U.S. population than at any time in the last half century.

For more information on apartments in Garner, NC contact Abberly Place.

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Consumer Affairs


Even People with High Incomes Prefer to Rent – Garner, NC

Joseph Coupal - Thursday, December 01, 2016

Abberly Place apartments, Garner, NC“Rent, don’t buy,” may be the new mantra among higher-income Americans. A study of U.S. Census Bureau data discovered much greater growth in renting versus buying among wealthy people.

Here’s a key set of numbers from the study: “From 2005 to 2015, the number of renter households who earn more than $150,000/year increased by 217 percent,” while there was only an 82 percent increase in the number of homeowner households within the same income bracket.

After the real estate crash in 2007 and 2008, many people switched from owning their own homes to renting, whether that was their plan or not. You might think richer people would see the opportunity and snap up properties at bargain prices that less well-off people either couldn’t afford or couldn’t qualify for. However, that doesn’t appear to be the case, based on the analysis of the census data. “We also noticed that every single year since 2009, the largest increase in U.S. renter households came from high-income earners,” the study concludes.

The numbers mentioned so far have been based on percentage increases, which can be misleading because total numbers may look different. But even absolute numbers show the same trend of high-income renters, especially in cities where renter increase rates are much higher than average.

Nationwide, there are seven times more homeowners than renters in the upper-income bracket. Overall, renters account for more than a third of U.S. households, with most earning less than $50,000 annually. What the study found was signs of a shift among higher-income households in favor of renting urban luxury apartments rather than a house in the suburbs.

For more information on renting apartments in Garner, NC contact Abberly Place.

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Abberly Place Apartment Homes

500 Abberly Crest Boulevard, Garner, NC 27529

Call: 866-526-0879
Email UsAbberlyPlace018@myLTSMail.com
View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$937-$1,361