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

Benefits of Buying or Renting - Garner, NC

Joseph Coupal - Friday, September 30, 2016

This is an increasingly common question. Most families think that rent money is “thrown away.” This belief is often quite wrong.

When you add up the cost of owning a property is at least eight percent of the total cost of the home. This is true regardless of whether you pay cash or finance the entire amount (if you use your own cash, there is an “opportunity cost” of not having it invested and making money elsewhere). One way or the other, you are laying out thousands a year to live in a house you own.

From a strictly financial viewpoint, if the cost to rent is less than the cost to own, renting is just fine. If you can rent that half million dollar house for twenty five hundred dollars a month (thirty thousand a year), you can assume the owner is paying you ten thousand a year to live in their residence.

A girl in New York City who is paying $2,400 in rent for an apartment that sells for over $800,000. That is a rental bargain.

What are the downsides of renting? Well, if the rental cost is more than ownership, it might be better to own (not always, see below). If you don’t want to take the chance of being forced to move, then renting may not be for you. Renters lose out on the appreciation of home prices. But we’ve seen over the last decade that residential real estate tends to be a lousy investment (even over the long run). Another downside is that rents tend to increase every year, whereas technically a mortgage should not. However, many mortgages do indeed increase in cost with inflation and time, and the other costs associated with ownership (repairs, maintenance, insurance, property taxes) inexorably rise.

What are the upsides of renting? Certainly the financial advantage discussed above. Another reason is that it gives you the flexibility of living in an area without being tied down. It is not unusual at all for a family to decide to live in a different town or at least a different area of a town after first moving there. Consider the value of calling the landlord when something is broken as another powerful incentive to rent instead of own.

The point is that we should not reflexively think that renting is a mistake. For many, it makes great sense. For more information on apartments in Garner, NC contact Abberly Place.

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floridatoday.com


Renting is Cheaper! – Garner, NC

Joseph Coupal - Friday, September 23, 2016

Despite historic-low mortgage rates, it's still cheaper to rent than own in most major U.S. cities. Low inventory, foreign investors and flippers are keeping home prices up.

With interest rates hovering near historic lows, it might seem like the ideal time for renters to jump into the homeownership market and perhaps spend less money each month to own a home than they do to rent one. But a new report shows that scenario may be more fantasy than reality - at least in the country's biggest markets.

The average monthly cost of owning a home is 28% higher than renting in major U.S. markets.

Of 28 U.S. markets surveyed, only four showed it was cheaper to own a home than rent one.

Home prices have gotten close to what we saw at the peak of the market. The magnitude of home price increases has been higher than rental increases.

The study focused on four- and five-star properties in the rental and homeownership markets to ensure an apples-to-apples comparison and to address the surging demand for housing in major cities.

Younger generations just don't want to commute like past generations have - they want to live in cities, near restaurants and bars, where they can work and play in the same area. While there's a lot of affordable housing in the suburbs, that's just not where people necessarily want to live.

So, the study compared the average monthly rent of a high-end apartment with the monthly cost of owning a one-bedroom condo in that city or a three-bedroom single-family home in a low-crime suburban area. The monthly cost of homeownership assumed a 15% down payment on a 30-year fixed rate mortgage, and included taxes, home insurance and PMI.

However, the other 24 markets were more costly to own than rent, with 15 of them being at least 20% more expensive.

Los Angeles showed the biggest dichotomy, with the average cost of owning a home being 39% higher than the average monthly rent. This was followed by Austin, Seattle, Nashville, San Francisco, San Jose, New York/New Jersey/Connecticut, Dallas/Fort Worth, Charlotte, Houston and Orange County, where the monthly cost of owning was more than 30% higher than renting.

On the surface, the report's results seem odd, given the country's 30-year fixed-rate mortgage averaged 3.5% in the week that ended Sept 15, and has remained under 4% for much of the past year.

However, housing prices have been rising at a far sharper clip than rents. Average home prices climbed 5.3% in July 2016 from a year earlier and surged 42.6% from the sector's trough in 2011.

A number of factors are driving the spike in home prices: Low mortgage rates, the country's attractive 4.9% unemployment rate, foreign investors snapping up U.S. single-family homes and condos as safe havens for investment, and - most importantly - a surge in "flippers," which are investors who buy homes and sell them within a year for a quick profit.

Inventory also plays a role. Most construction in recent years has been in building multifamily units - condos and rental apartments. There's a ton of supply coming into the apartment world, which is keeping rents low enough that they're not infringing on homeownership costs.

Whereas, housing inventory has declined.

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

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thestreet.com


One of America’s Best Cities for Dating: Garner, Raleigh, NC

Joseph Coupal - Friday, September 16, 2016

Hooking that hottie is hard enough without the odds stacked against you, so the city researchers at Sperling’s Best Places have identified for you "America’s Best Cities for Dating."

The study is based on criteria that includes percentage of singles ages 18-24, population density, and dating venues per capita such as concerts, coffee shops, bars, bowling alleys, etc., and includes 80 metro areas in America. They teamed up with a company which specializes in the dating game to find out which city is revered as the D.C. (Dating Capital) of the U.S. Raleigh, NC is number 4!

Best Cities for Dating

  1. Austin, TX
  2. Colorado Springs, CO
  3. San Diego, CA
  4. Raleigh/Durham, NC
  5. Seattle, WA
  6. Charleston, SC
  7. Norfolk, VA
  8. Ann Arbor, MI
  9. Springfield, MA
  10. Honolulu, HI

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

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bestplaces.net


Living Near a College is Great, Even if You're Not a Student - Garner, NC

Joseph Coupal - Friday, September 09, 2016

For some, it’s the roar of the crowd as the home team scores a touchdown on Saturdays. For others, it’s the quiet, tree-lined sidewalks on the quad or the ability to meet new people at different events at any hour of the day.

Even if it’s not home to your own alma mater, college towns and cities throughout the U.S. offer a high concentration of opportunities packed into a small area. Whether it’s the academics, food options, theater or business opportunities, life in a college town is not just great for the students, it's beneficial for full-time residents as well.

The attention college town areas receive, combined with the regular influx of new students and faculty from other parts of the country, contribute to the appeal to potential residents who may or may not be associated with the school itself.

There is a global perspective, and this intellectual base and diversity that the average small town wouldn’t get otherwise.

But some of the most loved college towns for residents and students alike have factors outside the academic institution that contribute to the economy and cultural variety of the area.

The metro area usually hosts large companies which serve as major local employers and also attract related businesses to the region.

Durham, North Carolina, is home to Duke University, one of the anchors of the “Research Triangle,” a hub for health and tech companies that benefit from close proximity to Duke, the University of North Carolina–Chapel Hill and North Carolina State University in nearby Raleigh. While the surrounding universities contribute to the the area's overall prosperity, Durham and its neighboring cities also benefit from many entrepreneurs outside the institutions.

“Duke hasn’t brought in the restaurants and all the activities, but Duke has helped support all the new restaurants and activities,” Austin says.

The college hasn’t brought in the restaurants and all the activities, but the college has helped support all the new restaurants and activities.

When college towns flourish outside campus grounds, the community gets even stronger, as students find work after graduating and become locals themselves.

A lot of times, students graduate and end up staying. Their families come and visit them for the four years while they’re in school, and a lot of parents of students who end up packing up their lives and relocating later because college towns are great towns for so many other reasons.

Whether you’re moving to a new town or city for the proximity to its school or other reasons, here are a few tips to help you navigate real estate in a college town.

Expect a tight real estate market. Because a portion of residential real estate in college towns is often taken up by off-campus student housing, there will likely be a lower inventory of homes than it may seem at first. Real estate markets across the country are experiencing low inventory for single-family home sales, and this is even more likely near a college.

Off-campus student housing absorbs some of the stuff that would be sold to young families.

Inquire about the atmosphere during all seasons. Many college towns based exclusively around the local college or university will see a big drop in population once summer hits, leaving what may seem like a ghost town until fall classes begin.

But not all college towns are the same. Boulder’s proximity to the Rocky Mountains and other outdoor attractions bring a whole new group of people to the city during the summer months while the majority of students are gone.

What happens in the summertime is the students go home but the tourists come in.

Before you relocate to a college town, ask locals how the city is influenced by the academic calendar.

Prepare for Welcome Week. Even if the town doesn’t experience a significant decrease in activity during the summer, be ready for the influx of students, parents and siblings for those few weeks when students are moving in at the start of the fall classes.

Whether it means avoiding your local Target or Bed Bath & Beyond for a couple weeks in the early fall or taking your summer vacation to coincide with the nearby college's start date, preparation is key to avoiding any potential downsides to the newly refreshed student population. It's also worth keeping graduation weekend and homecoming in mind as busier times in the community.

Learn to love the school. To make life in a college town easier, it might help to let yourself become a fan – though that may be easier said than done if you’re a diehard University of Michigan fan living in Columbus, Ohio, home of the Ohio State University Buckeyes.

Even if you’re not supporting the sports teams, accepting the student population itself can make you dread three-quarters of the year a little less.

Local residents should follow the school's events calendar to take advantage of activities open to the public, from student theater productions to cultural food expositions.

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

#HowYouLive
US News – Real Estate


The 20 Best Places to Live in the U.S. – Raleigh, Garner NC

Joseph Coupal - Friday, September 02, 2016

Americans will move across the country for just about anything - be it a job, to be closer to a loved one, or just to get a little more sun. While the initial reason for a move to a new city will vary from person to person, the location's job market, affordability and overall quality of life are a few of the characteristics to consider before the movers are called. The 2016 U.S. News Best Places to Live rankings examine ta variety of factors, from job market to quality of life, that ultimately determine which of the country’s largest metro areas would be more suitable for more people.

#4 Raleigh-Durham

Thanks to the likes of Duke University's nationally and regionally ranked health system, the Raleigh-Durham metro area has exceptional health care quality and availability. In addition to Duke, North Carolina State University, University of North Carolina-Chapel Hill and more than a dozen other colleges in the area make it a hub for academics and college-age residents, helping earn the area its title as the Research Triangle. Raleigh-Durham also has the second highest population growth from net migration of those cities in the top 10.

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

#HowYouLive
US News - Real Estate



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