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Survey Shows More Previous Homeowners Want to Rent

Joseph Coupal - Thursday, February 23, 2012

As home values fell again in 2011, more and more people are looking to renting as an affordable, flexible lifestyle option. In response to this news, Apartments.com conducted a national survey to more than 3,000 of its January website visitors to find out the reasons they are moving and why they are renting versus owning.

Supporting a growing trend, 33.6% of respondents looking for an apartment this year said they are previous homeowners (up from 20.5 percent in 2011). Respondents who said they are homeowners looking to rent, 26.3% are doing so because they believe renting is a more affordable option and 21.2% prefer the flexibility renting offers in choosing where to live. Apartments.com provides the five most popular responses why their website visitors are choosing to rent versus own in 2012:

  • Renting is a more affordable option: (26.3%)
  • Flexibility to live where I choose: (21.2%)
  • To relocate for employment: (20.5%)
  • Cannot afford to keep up with homeownership expenses: (10.5%)
  • Lost home due to foreclosure and change in marital status: (less than 4% each)
"It's more important than ever for apartment seekers to be informed and savvy shoppers by utilizing all the online resources available to search for apartments within their budget," says Chris Brown, vice president of product management, Apartments.com.

More than 35% of respondents said they are moving out on their own, which may be a sign of an improving economy and job market, especially in the rental demographic.

The number one reason for moving in 2012 is for relocation for a job opportunity. However, the desire to have more space, to save money and to live in a more desirable neighborhood also topped the list.

Relocating to South Carolina’s capital? For information on renting an apartment in West Columbia, SC, we encourage you to contact Abberly Village Apartment Homes.

Market Watch- Wall Street Journal

Ask These Questions When Deciding to Rent or Buy

Joseph Coupal - Friday, February 17, 2012

Perhaps you are relocating to West Columbia, SC and you have just started the search for a home.  Regardless of where you are in your home search, consider some questions before you decide between renting and owning a home. Buying a home is a big commitment both financial and otherwise, so take the time to weigh pros and cons.

Here are a few questions you should ask yourself:

Will I own it for at least five years?

The  most important question you should ask yourself is whether you will own a home for a long time. People buy homes to increase wealth and five years, maybe even more today, is about the break-even point for earning appreciation in value. If you don’t plan on holding the property for longer than five or more years, don’t buy it! Renting a home is NOT throwing money away. Buying and selling quickly will usually leave you worse off financially.

Can I afford it?

It is more expensive to own a home than you think.  Even if the mortgage lender qualifies you for the loan amount, you need to make sure YOU can afford it. Consider home maintenance costs, child care expenses, health care expenses, expensive lifestyles and habits, on top of the monthly mortgage payment. So make sure that you can comfortably afford your housing payment, still pay your other bills, and still save at least a little more for retirement. Also, if you are not sure of your continued employment situation, don’t buy a home.

Do I know about the neighborhood?

Did you do adequate research, look at enough properties, and learn the neighborhoods. If you just moved into town or if you don’t know the area, rent an apartment in West Columbia, SC for a while. Get to know the city.
 
For information on Abberly Village in West Columbia, SC, contact us.

Excerpts from Onlinesentinel.com

The Many Reasons to Live in West Columbia, South Carolina

Joseph Coupal - Friday, February 10, 2012

There are many reasons to consider renting an apartment in West Columbia, SC. If your are relocating for a job or relocating for retirement, South Carolina is a dream location, it is the perfect place to call home.
 
West Columbia is a city convenient to mountains and beaches, with perfect weather all year round and gardens are always in bloom. A historic city in the South, you can have an active lifestyle with an affordable cost of living and fun-loving southern atmosphere.

Nearby West Columbia is Fort Jackson, the largest and most active Initial Entry Training Center in the United States Army. Colleges and universities, such as the University of South Carolina, are in our neighborhood as well as fantastic restaurants and an exciting night life. Living in West Columbia you can relax all day and play all night.

For more information on our one bedroom, two bedroom and three bedroom floor plans, contact Abberly Village.

You Can Throw a Super 'Super Bowl Party'

Joseph Coupal - Thursday, February 02, 2012

The great thing about living in an apartment in West Columbia, SC is you can pick any football team you want to go to the big game. So even though South Carolina doesn’t have an official NFL team, you are still going to watch the big game, even if it is just for the commercials!

Are you going to host the party for the “Big Game”? How should you prepare for your Super Bowl Party?  Is there a set way that a Super Bowl Party should be hosted? Of course not. But if you are throwing a Super Bowl Party in your apartment, we’d like to help.

In your apartment there are certain things that you may do differently from hosting some other kind of party.   ForRent.com does a “great” job at giving the basics of what is expected to host a great Super Bowl Party in your Apartment at Abberly Village. Enjoy!


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