Call Today
Resident Survey 
Abberly Place Apartment Homes
500 Abberly Crest Boulevard,
Garner, NC 27529

Get e-mail notifications of new blog posts! Enter email address below.

Delivered by FeedBurner


Apartments Raleigh NC Blog

RSS Grab the Abberly Place RSS Feed

Renting vs Buying - Which is Better?

Joseph Coupal - Friday, May 03, 2013

When it comes to deciding whether to rent or buy your next home, it all boils down to the golden rule of real estate: location, location, location.

Renting an apartment in Raleigh, NC can make perfect sense.

Here's what you should think about before you sign the dotted line on a lease or a mortgage.

Renting is ideal for someone who plans to live in an area for fewer than three to five years. If you were to buy a house in that time, you might not get the return on your investment.

If you buy a house and sell it within a couple years, you'll lose about 6% - 7% of the money you put in to a home through the cost of selling — including transfer taxes and the real estate commission.

If you have any doubt about long-term longevity, then you should be renting. Don’t waste your money.

The bottom line: Rent if you can only commit to staying in the same spot for a year or two. If your job will keep you in the same place for several years, it's a good time to buy.

Before buying, you also need to be ready to pay higher insurance and maintenance costs on a home than you would on a rental apartment.

When your sink gets a leaky pipe in a house, you can't call your landlord to bring down his toolbox to fix it for you. And those unexpected costs can potentially add up to thousands each year, depending on the age of your home. Many websites recommended stashing away 1% of your home's worth for annual maintenance costs.

The bottom line: If you're not ready to pay out of pocket when something breaks, go with renting.
Upfront cost
Before buying a home, potential owners need to ensure they have at least 20% of the cost for a down payment. Although you can sometimes get by with less, most buyers must meet that threshold to qualify for a typical home loan.

20% down is often called the "magic number" for a house down payment and can come with lower interest rates compared to loans for people who can only afford 10%.

Upfront costs for renting an apartment typically include a down payment of at least one month's rent and a security deposit, which you can recoup at the end if no damage is done.
But buyers also can take advantage of current record-low interest rates. And they don't have to deal with landlords or fluctuating rents.

The bottom line: If you can't afford to put down 20% of the home's cost, rent instead.

Return on investment
Home prices are on the rise, but they're still about 30% lower than they were before the real estate bubble popped. Regardless, prices are going up. And the housing inventory is at its lowest in years, showing that real estate is finally in high demand.

On the other hand, there's no chance you'll never get back the rent that you put into an apartment.

The bottom line: Theoretically, there's more to gain by investing in a home, but if the economy takes another downturn, we could be easily singing a different tune in a decade. Millions of homeowners were left with underwater mortgages in the wake of the housing crisis, which left them living in homes that were worth less than they could sell for.

The Verdict:
There's no hard-and-fast rule for whether renting or buying is the "best" choice in today's economy. Buying a home is surely a move to consider if you're planning to stay in one spot for several years. Otherwise, take a gamble on renting for now.

For more information on renting in Raleigh, NC, contact Abberly Place Apartments.

Business Insider

Recent Posts


New Year's Eve house plants that help indoor air quality apartments around Raleigh televison commercials Jordan Lake one bedroom apartments, NC Adult Holidays Raleigh Area top 25 places to retire relocating to Raleigh, NC apartment contest Food Truck rodeo Thanksgiving burn calories tips for apartment pets Raleigh NC Martha Stewart one bedroom apartment in Garner, NC apartment wishes Self-Help Memorial Day recipes apartments save money on renting Apartments near Raleigh grilling GRA Labor Day plastic St. Patrick's Day plastics Raleigh nightlife meatballs The Gratitude two bedroom apartments, Raleigh kids savings account recipe for summer hiking renting in Garner apartment community green holidays Go Green location three bedroom apartments, Raleigh dog parks, Raleigh BBQ tips personal safety carolina hurricanes apartments for college grads tornado food gift baskets Raleigh Festivals rare syndromes apartments for college graduates Memorial Day appetizer recipes environment Vending machine Chapel HIll festifall Arts Festival how to start beekeeping don't drink and drive Memorial day events Raleigh, NC best place for educational opportunities kitchen flu shots Raleigh’s walking food tour apartment fire Raleigh, NC increase gas mileage, NC area activities New Year's resolutions popcorn dining tables for sale pet friendly Arts and Entertainment safety New Zealand Events in Raleigh Irish pubs Raleigh garden parties credit score health best food in Raleigh Halloween events best fast food in Raleigh valentines day gift ideas Spare Change eating chicken recipe fourth of July, Raleigh, NC St. Patrick's Day Raleigh Mental Health twister Garner apartment reviews International Festival of Raleigh Abberly Place Apartments Abberly Place flowers and plants raleigh NC drink recipe New Hope River Valley home depot summer activities for kids positive attitude urban beekeeping setting your thermostat healthy eating three bedroom apartments, NC happiness machine top 35 cities in the US for Millenials tree lighting, Raliegh three bedroom apartments in Garner, NC two bedroom apartments in Garner, NC negative attitude conserve energy in your apartment how to get out carpet stains ads Best Run City ways to go green vacation spots new places to live in Raleigh Raleigh fourth of July Restaurants open for Thanksgiving Dinner home maintenance and repairs apartment pets, Garner, Nc Google Instant Raleigh area college grads Financial advice living in an apartment plasticx one bedroom apartments in Garner, NC winter workout two bedroom apartments, NC New Year's Eve Raleigh Fun Fact Friday renting an apartment in Garner, NC apartment in Garner, NC music and arts festival Coca Cola apartments in Garner, NC healthy HHHunt Apartment Homes decision to rent or buy pet friendly apartments, Raleigh apartments in Charlotte NC Downtown Raleigh Food Truck rodeo Downtown Garner Music on Main Concert Pool Party green cleaning swap clothes buildings green cleaning products Credit Cards savings events reviews for apartments in Garner, NC Free Music on Main Street Series Raleigh Winterfest hot weather and your AC chairs for sale fall events, Raleigh how to save money holiday events apartment reviews, Garner, NC Soda research triangle park Garner litter sweep The International Festival hurricane irene downtown Raleigh Restaurant Week indoor air quality keep the environment clean desserts Beer Month events, Raleigh, Garner Apartments in Garner NC Father's day gift ideas Raleigh parks christmas diets Best Run Cities green Super Bowl recycling excercise Tax Day post-grad apartments White Deer Monster Dash and Family Fun Run Nixon prank Winterfest home insurance coverage new year’s resolutions Rent-to-own Marbles Kids Museum deciding between renting and buying urban beekeepers Olympic Fun Day Beer, Boubon and BBQ Festival Memorial Day Weekend apartment communities two bedroom or three bedroom Resident Party Duke University Redbox has a great deal drink responsibly hurricane track apartment hunting, Garner, NC apartment amenities triangle area rent green decorating upcoming events, Garner, NC how to get out stains Garner mild winters North Carolina Museum of Natural Sciences apartments party idea Food charity swim for cancer, Raleigh leftover dinners Groupon halloween events, Raleigh tornadoes good food Easter Oktobersfest eco-friendly free coffee interational festival of Raleigh Concerts and Events wardrobe Garner pride winter cold walking food tour holiday giving International Festival fall events gas prices, NC Have a Coke a Smile and a great weekend Real estate Carbon Leaf spaghetti diy beekeeping Raleigh Restaurant Week ira walking redbox movie rental March Madness Earth Day Festival improve credit score tips on renting fishing Arnold Palmer designed courses April 1st skyscrapers put away decorations positive mental attitude young adults deciding whether to rent or buy food gifts North Carolina heat index in Raleigh pullen park Memorial Day Raleigh NC NC State Fair YogaFest retirement renting vs owning St. Patrick's Day Parade Raleigh how much is a billion perfect margaria recipe leftover turkey recipes hurricane insurance Rachel McAdams April Fool's Day nutrition holiday trees Garner apartments ways to burn calories community Google Liberty National The Time Traveler's Wife rent vs. buy renting or owning in retirement during a tornado golf model apartment home furniture reviews of apartments in Garner, NC hurricane awareness margaria recipe cost of home maintenance three bedroom apartment in Garner, NC Betty White MLK celebration in Raleigh breast cancer walk, NC Kentucky Derby Museum Exploration Winter Holiday Season green living kitchen tools Triangle go green food stay cool apartment decorating holiday food christmas holiday apartment pets before a tornado Search Engines HHHunt Papa Johns Pizza Father's day gift dogs and cats dieting fresh fruits and vegetables fun ways to burn calories memorial day party tips renting vs buying Little Engine That Could sports St. Paddy's Run Green 8k Waste management renting in Garner, NC looking for apartments in Garner, NC Durham Earth Day Festival cancer walk, NC hurricanes Panthers JC Raulston Arboretum Pet friendly Apartments in Garner Raleigh apartments reviews in Garner, NC events in downtown Garner relax hurricane path Garner, NC best place to live for young adults green methods March Madness sports bars raleigh roommate duties March Madness sports bars renters insurance tornado safety Generation Rent Raleigh New Year's Eve how many billionaire in the world teaching kids the value of money wahm Tar Heels healthy food MasterMinds GoogleInstant icebergs buying and renting Mom's Day Festivals around Raleigh teacher holiday gift ideas Black Friday deals discipline of living a positive attitude teacher gift ideas tornado in the south renting christmas decorations personal health Pet Friendly Apartments Turkey renting in Raleigh, NC Restaurant Week barbeque eat healthy holiday ornaments cholesterol Wearin’ of the Green Festival, Raleigh renting Apartment Homes Raleigh North Carolina Mother's Day apartments in Garner senior learning program Gala in the Garden Raleigh ranked no. 1 Thanksgiving dinner apartments near Raleigh, NC energy efficiency Around Town Raleigh bars after a tornado decoration healthy school lunch ideas relocating A Movie With Dad (Free) cleaning North Carolina Beer Month Raleigh, North Carolina veterans day parade Raleigh top cities in the US for Millenials holiday popcorn Fun Facts apartments in the Carolinas near Raleigh NC home ownership room mate duties street festival Raleigh fireworks losing weight Holiday Season Raleigh events America’s most livable cities Raleigh tornado renting after retirement pet friendly apartments in Raleigh, NC Triangle Restaurant week apartment floor plans how to be a good roommate bunnies eastern carolina university renting an apartment coach abberly place apartments homes Local restaurants First Night in Raleigh rent or own how to improve credit score top cities for Millenials Holiday events, Raliegh rent or buy a home Father's Day Resident Advantage Program furniture for sale health and fitness using your AC wealthy abberly place fitness center items for sale free rent metro Raleigh interest calculator best place to live and work Sunday in the Park concert series relocating to Raleigh Wachovia iMax Theater Raleigh Personal development Abberly Place Garner Apartment Homes teaching kids to save money first night Raleigh how to keep new years resolutions renting vs buying a home american diet compound interest Going Green Music One bedroom one bedroom apartments, Raleigh Museum of Natural Sciences Raleigh ranked number 1 torndo warning Southern charm new year’s eve lego expo how to get out sofa stains summertime drink Susan G. Komen Walk team Concerts and events in Garner best quality of life summer vacation North Carolina State Fair New Year cost of home maintenance and repairs community events YogaFest Raleigh rent or buy shrink wrap Garner Revitalization Association Black Friday great place to come home to Easter egg hunt roommate of the year two bedroom apartment in Garner, NC apartment resolutions changing apartments red hawk apartment building fire Do More for Pets fall festivals, Raleigh corn maze how to meet people golf courses goals for kids farmers markets roommates house plants for indoor air quality Apartment Living HH Hunt hiking trails buy or rent Jeffrey Gitomer downtown Raleigh restaurants new year’s day renting apartments near Raleigh Jennifer Moran Triangle area golf courses try to meet people healthy school lunch tips St. Patrick's Day Parade Positive living in Garner St. Patrick's Day event gas mileage, NC why rent fitness centers newlyweds rentning winter weather jokes high tech industry vacation destinations apartments in Raleigh, NC family fun making apartments green Susan G. Komen Walk, Raleigh When to buy a home apartment reviews, Garner pet lovers hockey high profile universities National Public Lands Day apartment decor aprtments in Garner NC Abberly Place residents eating outside coke ornaments Abberly Green food and apartments start a supper club 401k hunger renter's insurance Lake Benson Park Garner NC winter health Missing Dog improve indoor air quality abberly place apartment homes lego festival community holiday fireworks, Raleigh, NC apartment management company Raleigh restaurants things to do in the Triangle valentines day gifts newly weds rentning relocating to Raleigh NC Alice in Wonderland Taste of Downtown Raleigh Gourmet Food Tour retire wealthy Abberly Place apartment reviews global warming apartment homes monthly budget kitchen cooking Audrey Niffenegger travel tax free weekend, NC retirement years go green without plastic Vending space saving apartment furniture concert series 1992 Third Tuesday Carolina Panthers Getaways Happy Easter renting in retirement