Abberly Village Apartment Homes

In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it.

Home ownership is on the decline, and renting is on the rise. But the trend isn't limited to the housing market. Across the board, Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to a Rentership Society.

The unsentimental fact about the American dream is that Americans never really owned it in the first place. For the past three decades, especially, consumers haven't so much bought their quality of life as they've borrowed it from banks and credit card companies.

Now consumers are following the example of corporations, becoming more efficient. And it starts at home.

Housing is the biggest single component of consumption in the U.S. economy and the source of much of our present misery. The typical consumer spends about 32% of his or her budget on shelter. In the last decade, that generally meant borrowing a lot of money to take "ownership" of a home.

During the boom, the homeownership rate grew steadily, peaking at a record 69% in 2006.

Ownership-boosters failed to note that homes purchased in 2005 and 2006 with no-money-down, interest-only mortgages weren't really bought. They were simply rented until the "owner" flipped them or walked away from the mortgage.

In the post-bust climate, renting has emerged as a much more economically efficient way to pay for housing. A one-year lease represents a far less onerous financial obligation than a 30-year mortgage. It's difficult to get into too much financial trouble as a renter. The homeownership rate has fallen from its peak in 2006 to 65.4% today.
 
For an increasing number of Americans it makes more sense to rent. According to Moody's, by late 2011 it was cheaper to rent than to own in 72% of American metropolitan areas, (such as West Columbia) up from 54% a decade ago. And the more people who do it, the more socially acceptable and desirable it becomes. The decline in the ownership rate means that about three million more households rent today than did at the height of the bubble.

It's tempting to view the rise of renting as an economic step backward. But many would argue the rise of renting is a sign of a system adapting to new realities.

The U.S. economy needs the dynamism that renting enables as much as, or more than, it needs the stability that ownership engenders.

And the rising popularity of renting is hardly contained to the housing market.

Finally, perhaps, Americans are absorbing a piece of wisdom from Thoreau: "And when the farmer has got his house, he may not be the richer but the poorer for it, and it be the house that has got him."

For information on renting an apartment in West Columbia, SC, contact Abberly Village.

Wall Street Journal

This Sunday, May 13, is Mother’s Day. Living in an apartment in West Columbia, SC are you looking for a special treat for your mother or wife? There are plenty of restaurants around Columbia that are offering special mother’s day menus, cocktails and champagne brunches.

Whether you are looking for a champagne brunch or a five star dinner, there are so many restaurant choices in the Columbia area. Many restaurants are offering complimentary mimosas, Bloody Marys, and champagne for moms.

Abberly Village would like to give you an easy list of the area restaurants that are offering special menus, treats and cocktails this Sunday:

Blue Fin
Hamptons
Liberty Tap Room
O’Charley’s
Harper’s Restaurant
Bluefin Seafood Restaurant and Bar
Cafe Strudel
Motor Supply Company Bistro

Happy Mother’s Day!

Low mortgage rates and more affordable home prices in the Columbia, SC area are creating an interest in home ownership by those who live in apartments. However, potential buyers who are unprepared for the true cost of owning a home may be shocked by the bite home ownership can take out of their wallet in addition to their mortgage payments.

Inspection and Appraisal Fees
Before you purchase a home you need to pay for a home inspection, and an appraisal, possible even inspections for pests or radon. The costs of these inspections are borne by buyers and are a necessary protection to avoid buying a flawed property or paying too much.

Closing Costs
Buyers need to be prepared with the cash for anywhere from 2% to 4% of the mortgage balance depending on your area.

Taxes
As a homeowner, you'll need to pay property taxes, which are generally part of the escrow you pay into each month. Remember, even if you have a fixed-rate home loan, your property taxes could go up and increase your monthly housing costs.

Insurance
Your lender will require home insurance, the cost of which depends on factors including the construction materials of your home and the location. Even if you have renter's insurance, you'll find that home insurance costs more because you are paying for the ability to rebuild your home in addition to replacing your personal possessions. Insurance costs will rise over time, and you will need supplemental insurance if you live in a flood zone.

HOA and Condo Fees
If you buy a home within a homeowners' association or a condominium association, you'll be required to pay a monthly or quarterly fee. These fees can rise, or your association may need to charge a special assessment for projects such as repaving the parking lot or repairing a roof.

Utility Bills
Depending on where you live, your costs for electricity, gas and water could be higher when you move into your own home than when you live in an apartment in West Columbia, SC. You may also need to pay for garbage collection along with your Internet, cable and phone bill.

Furniture
While this is essentially a discretionary expense, most people who move from an apartment to a larger home need to buy at least some new furniture.

Lawn Care
Whether you handle your yard work yourself or hire a professional, you will have to pay something to keep your landscaping in check. Lawn equipment can be costly and you may need a leaf bloweror other lawn equipment, too.

Maintenance
Home maintenance costs time and money. While you may be able to change your furnace filters, clean your gutters and keep your appliances running smoothly yourself, you may also need to hire a contractor to clean and inspect your chimney and to keep your heating and air conditioning system in top shape.

Repairs
While maintenance tasks can be predictable, the most costly part of home ownership typically comes with unexpected repairs such as replacing or repairing the roof, removing a tree, or paying for mold mitigation in a damp basement. The list of possibilities is endless, so homeowners should set aside savings for an emergency. Experts suggest budgeting for 1% or 2% of your mortgage balance as a yearly maintenance and repair fund.

The Bottom Line
Buying a home costs more than you think. If you don’t expect to stay in your home for at least seven to 10 years, contact Abberly Village Apartment Homes.

SF Gate

There are so many reasons for renting, and the debate about buying or renting continues. There is much to be said for owning your own home, but today, that is no longer the priority for many. With the argument being made about renting instead of buying, more people are listening.

The flexibility of renting an apartment in West Columbia, SC is a big factor for many people. If they change jobs, it’s easier and faster to get out of your lease than put your home on the market. Not to mention, your money is tied up in the home until you sell it.

Another big factor in renting an apartment home is avoiding the hidden costs of home ownership. You can budget for your monthly mortgage, but many people forget to consider insurance, repairs, utilities, appliances and maintenance. Without those hidden costs, depending on where you live, you can actually get more home for your money if you rent.

Consider this, you will have more free time when you rent. We all know someone who owns a home. How do they spend their weekends: mowing, weeding, repairing, painting? Of course they do. As a renter, when you have time off, that time is your time. Do what you want with it; get out and explore West Columbia and surrounds, or sit on your couch and watch old movies with friends. The choice is yours.
 
For more information on renting an apartment in West Columbia, SC contact Abberly Village Apartments.

Take a short drive from you apartment in West Columbia, SC and do something different. About 20 miles from Columbia is Woodford, where the South Carolina Hummingbird Festival is being held on March 16th and 17th.

Celebrate the hummingbirds that visit each year. There will be fun for all ages, food vendors and live music. Festivities held at 501 Hayden Rd. Parade will be at 9 a.m. on Saturday morning.

The Hummingbird Festival, March 16th and March 17th.   The festival will have a car and motorcycle show, tractor show, a beauty pageant, rides for the kids, arts and craft vendors, food vendors and live music on Saturday.   The festival will be held from 6pm-9pm on Friday and 9am-9 pm on Saturday.   There will also be Hummingbird Festival T-shirts for sale.  Not far from West Columbia, and worth the trip; mark your calendars, bring your chairs and enjoy.   

Woodford.com

It's almost time to celebrate the 30th anniversary of the Midlands largest annual festival - St. Pat's in Five Points!  Mark your calendar, invite your friends from your apartment in West Columbia, SC and start planning for March 17, 2012!
 
Next Saturday, be ready to live the luck of the Irish at this celebration. There will be over 40,000 people at the eclectic Five Points business district in Columbia, SC.  Continually growing and improving, the festival will include a 5K Run and one mile walk, fun-filled parade, expanded family entertainment, enhanced food and craft offerings, a special shag area honoring our state dance, a kid-approved Childrens' Carnival as well as four stages on live music hosting over 20 musical acts.

Beginning at 10:00 a.m. on Devine Street one of the nation’s largest St. Patrick's Day Festivals will begin its second event of the day, the St. Pat’s TD Bank Parade.

The St. Pat’s Parade will travel the Musical Mile down Devine Street into Five Points offering blocks of public viewing. After entering Five Points, the parade will wind its way down Devine Street and up Saluda Avenue, returning to Harden Street at the Five Points Fountain and concluding near Food Lion.

Be sure to wear your green and get your Sham-Rock On at the TD Bank St. Pat's Parade!

For more information see the stpats5points.com website.

There are so many great places to take pictures in and around South Carolina. Of course, living in an apartment in West Columbia, SC you know this.

With picturesque buildings, and historic locations, moss covered trees and destination restaurants all over West Columbia, your smart phone turns into your camera and you can readily share those photos on Facebook and your other social sites.
 
But, there are some things you should know about when you share those photos. Watch the following video and learn how to take care when your interacting online with your friends.

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

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

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.