Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169
Call or Text: 866-933-5853 Email Usabberlyvillage017@myltsmail.com View Map

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

West Columbia SC Apartments Blog

How to Decide To Rent or Buy – West Columbia, SC

Joseph Coupal - Wednesday, June 22, 2016

Whenever the subject of renting comes up, there will inevitably be people who caution against it. Renting gets a bad reputation for being a short-term solution with no immediate permanent assets.

However, the idea that buying a house is the best long-term investment isn’t necessarily true anymore. In fact, studies show that real estate only outpaces inflation by a very small margin over time and might not be the best place to invest your money (if that’s what you’re going for).

The real problem with renting vs. buying arguments is that there are so many details to consider when weighing the pros and cons of each. While there’s no simple answer, there are a few things you can look at to determine whether renting or buying is the best choice for you.

Look at how much rent is rising in your area.

In many instances, people choose to rent because buying a house costs much more money up front. Problems arise when rent continues to rise year-over-year, though, while a mortgage will stay fixed. However, taxes can go up regularly which will change your monthly mortgage payment. However, there are factors that make renting much more viable if you live in a city with relatively stable rent. In these cases, you can often negotiate longer leases with fixed monthly rent prices and search around for better deals.

Decide how much maintenance you can afford.

While tax credit does offset some of the costs of owning a home, you should also be aware that maintenance is a huge cost that can come with owning a home. Being able to choose your own paint colors and rip out ugly flooring is one of the reasons most people dream about owning their own place, but homeowners are also on the hook if a plumbing issue damages those freshly-painted walls and expensive new floors.

Make sure you’re not forking over all your income to buy a home and leaving your savings account empty. If you don’t have at least six months of expenses saved up, consider renting and investing some extra money while you work towards owning a home.

Check your timeline.

Most people don’t stay in one house their entire lives, so it’s crucial to consider the costs of selling before you even buy a place. Most financial advisors suggest that you should plan on staying put for at least five years or you will most likely end up losing money.

For more information on apartments in West Columbia, SC contact Abberly Village.

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KLS.com


States with Smallest Tax Burden – West Columbia, SC

Joseph Coupal - Wednesday, June 15, 2016

Most of us have our tax refund check, unless you owed… and  hopefully the refund is in the bank account–or if not, then at least maybe you have a strategy for a better year. Since part of that strategy could be moving to a more tax-friendly state, Forbes set out to find out which states offer the most favorable tax situations.

Using data from the Tax Foundation, Forbes ranked the total tax burden in each state. The ranking includes income, property, and sales tax, as well as special taxes like real estate transfer taxes, personal property taxes on some vehicles, and special tax district fees.

No. 9: South Carolina

State and local tax burden: 8.30%
Effective state tax rate ($50,000 taxable income): 6.02%
Highest tax bracket: $14,400
Rate at highest tax bracket: 7.00%
Per Capita Income: $33,603

For more information on apartments in West Columbia, SC contact Abberly Village.

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Forbes


Benefits of Living in Off Campus Apartments in West Columbia, SC

Joseph Coupal - Tuesday, June 07, 2016

It Can Be Cheaper

There's a good chance you'll save money by renting a house or apartment and splitting it with friends. These days, you can expect to spend close to $10,000 per year on room and board, but some schools charge $15,000 a year or more. Find a place that accommodates multiple housemates, and you can cut your costs by splitting the rent and utilities.

You Can Make Your Own Rules

Living in a dorm is fun and all, but it does come with certain restrictions. When you rent your own place off campus, you don't have to worry about quiet hours, nor do you have to feel guilty when you'd rather curl up in bed rather than participate in your living hall's weekly social event. You can go crazy turning on halogen lamps and plugging in hot plates, and there won’t be a soul around to write you up for it.

You Get More Living Space

Dorm rooms don't give you much space. Rent off campus and you may wind up with more square footage at your disposal. Another benefit of off campus living is the possibility of having your own bedroom, or even your own bathroom.
You Have More Food Choices

It may be nice not having to cook, but dining hall food isn't exactly known to be high in quality. And chances are your meal plan isn't all that economical, as you're paying for the convenience of having someone else prepare your food. When you live off campus, you can cook for yourself.

You'll Be More Prepared for the Real World

Living off campus means doing adult-style things like paying individual utility bills and going grocery shopping. Sure, that stuff can be time-consuming, but it's a good way to get ready for life outside your college campus.

For more information on apartments in West Columbia, SC, contact Abberly Village.

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brassmagazine.com


Reasons Not to Own a Home in Retirement - West Columbia, SC

Joseph Coupal - Thursday, June 02, 2016

Many soon-to-be retirees aim to pay off their mortgages before leaving the workforce so they can kick off retirement without the stress of a monthly payment. And it makes sense. At a time in your life where money is about to become limited, eliminating any source of debt is a wise move. But rather than pay off your mortgage and call it a day, you may want to take that idea one step further by selling your home altogether.

While owning a home in retirement does make sense for some people, here are three good reasons not to do it.

1. Too many variable costs

When you're living on a fixed income, you don't want too many financial surprises. But owning a home comes with a number of variable costs, from rising real estate taxes to unexpected repairs. Even during periods where home values drop, property taxes still have a way of creeping up. If you hang on to your home in retirement, you can't discount the possibility of seeing your property taxes climb year after year.

On top of that, the older a home gets, the more likely it is to need major repairs. Having to come up with, say, $10,000 on a whim to replace your heating system is easier said than done when you're no longer working. Renting, by contrast, means paying a fixed amount for as long as your lease is in effect. And while you do face the possibility of seeing your rent go up year after year, those increases will likely be easier to absorb than a major home repair. In 2014, rental prices increased an average of 3.6% on a national level. While that's not a small amount for someone on a tight budget, imagine you're renting a place for $1,500 a month and get hit with that same increase. Yes, you'll pay an extra $54 a month, or $648 throughout the year, which is a lot of money, but that's nowhere near what it would cost to repair a foundation or replace a roof.

For retirees, the biggest advantage of renting is that it smooths out your costs and makes you less vulnerable to financial emergencies.

2. You'll probably pay more for maintenance

Maintaining a home often takes a lot of work, and while you may be willing to put in the time, you may eventually find you don't have the energy. The older you get, the more difficult it becomes to mow the lawn, weatherproof the deck, or patch up the roof. Chances are you'll soon need a contractor or handyman to do that stuff for you, and those kinds of services don't come cheap.

On the other hand, if you sell your home and move to a rental, you won't have to worry about maintenance. And if you think renting will automatically be more expensive than owning, then you should take a closer look. Even if you've paid off your mortgage, your property taxes and maintenance expenses could cost nearly as much as a rental. And if that rental happens to come with a communal swimming pool that someone else is responsible for, even better.

3. You're low on cash

It's an unfortunate fact that most Americans enter retirement financially unprepared. In fact, an estimated 31% of non-retirees say they have no retirement savings whatsoever, and while Social Security can help, not everyone can live off of those monthly benefit checks alone.

If your retirement income can't support the lifestyle you want, and you're not looking to return to work part-time, then selling your home could be a smart solution. As long as you live in a home for two of the five years prior to its sale date, your first $250,000 of profit is exempt from capital gains taxes if you're single. If you're married and file a joint return, your tax-free allowance doubles to $500,000. If market conditions are favorable, selling your home could be a great way to generate cash and avoid having to resort to racking up debt -- which is not something you want to do when you're no longer earning wages.

Of course, if you've paid off your mortgage and you have the savings needed to cover any sudden, major expenses, then there's no need to rush to sell your home. On the other hand, if you'd rather put the stress of homeownership behind you, then by all means, sell. It could end up being one of the smartest financial moves you make.

For more information on apartments in West Columbia, SC, contact Abberly Village.

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The Motley Fool


Reasons to Rent an Apartment: A Surprisingly Long List! – West Columbia, SC

Joseph Coupal - Wednesday, May 18, 2016

Renting comes with a lot of under-talked-about benefits; probably because we are always hearing the constant chatter of financial experts telling you it’s the right time to buy.

As a result, buying a home should be a carefully considered decision, with all the pros and cons of both buying and renting evaluated against your own priorities and finances. Don’t get pressured into something that won’t work for you!

The benefits of renting include:

Financial flexibility.  Think of a ocean liner and a speedboat. The first represents your mortgage, the second is your lease agreement. If you get into financial trouble and need to reduce your living expenses, it’s much easier to make changes to your life if you rent.

Financial stability.  A renter’s finances are very predictable. There are few “unexpected expenses,” like an appliance breaking or a roof leaking that you’ll need to take care of on your own. There’s also less risk of uncovering an unforeseen problem (think “termites” or “airport corridor”) because you can just move.

Career flexibility.  As many unemployed home owners will attest to these days, when you rent you’re not locked into your location if the job market or economy shift, or your career preferences change.

Low maintenance costs. If nearly anything inside or outside your house breaks, it’s your landlord’s responsibility to fix it. That includes the cost, but also the time required. It’s also their responsibility to maintain the yard, paint, keep up common areas, etc.

No market risk. When you buy a home, you take on the risk (and potential reward) of the home’s value changing. This puts the capital you “invested” in your home via the down payment and subsequent mortgage payments at risk, and influences your ability to change course.

You don’t pay taxes or insurance directly. Your landlord is still asked to pay property taxes and insurance, and presumably rolls that into your rental price, but you’ll never be asked to write a check for these on your own, or get hit with a surprise bill if they increase abruptly.

No cash outlay required. There’s a tremendous amount of money required to close on a house, including the down payment and closing costs. Many people feel like it’s money they’ll never see again (if they sell the house, it will roll into the next one they buy). When you rent, no one will ever ask you for $20K out of pocket.

Some bills are included in the rental price. Many communities include things like water, trash collection, and even cable in their base rent price. While it’s probably priced into the rent, it still saves time every month not having to deal with extra bills.

Communities often offer “bonuses” for moving in. What was the last time you got a “bonus” for buying a house? It’s not unheard of to get a month of free rent or bonus amenities just for moving into a rental.

Decreased stress. Owning a home leads to greater stress as you have to deal with your home’s problems.

You can’t be foreclosed on. You will be kicked out when you don’t pay your rent, but in the grand scheme of things, that’s probably a better alternative to the fairly damaging process of foreclosure.

Less area to clean. Most people who move into a home will upgrade the size of their living space, not the other way around. There’s also the new 2-car garage, and the front and back yards. You’re going to spend a lot more time cleaning, my friends.

You can change your neighbors. A large factor in the quality of life as a renter is the kinds of neighbors you have. The good thing is that neighbors move, and when they don’t–you can. Would you move out of the house you bought because of bad neighbors? That’s a much tougher decision.

Make sure your living situation is complimentary to the lifestyle YOU want! For more information on apartments in West Columbia, SC, contact Abberly Village.

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fiscalfizzle.com


Reasons Renting an Apartment in West Columbia, SC is a Great Idea

Joseph Coupal - Wednesday, May 04, 2016

Conventional wisdom supports the notion that owning a house is a goal that everyone should have. But renting has many advantages over homeownership, and deciding whether to buy or rent is not a decision to be taken lightly. Here are a few thoughts on the upside of renting.

Freedom

When you own a home, moving can be difficult if not impossible. To go somewhere else, you have to either sell your place or rent it to someone else. Worst case scenario, you have to sell at a steep loss. When you rent, you can pack up and go at any time. Worst case scenario, you lose your deposit.

Less upfront expense

Rent payments can cost more than a monthly mortgage in some parts of the country. However, it will typically cost a lot less to get into a rental than to buy a place. Renters just have to come up with a security deposit and first month's rent, whereas homebuyers need to have enough cash for a down payment and closing costs.

The cash that you save on a down payment can be invested, or used to buy a great home theater system. (Don't take that as financial advice.)

Lower maintenance costs and headaches

When you rent a place and something breaks, you call and complain to your landlord. When you own your place and something breaks, you complain about the size of the handyman's bill.

The best managed apartments even have on-site maintenance that can handle repairs while you're at work and be done before you come home. When you own your place you may have to miss work to coordinate with repairmen and their notorious four-hour scheduling windows.

Lower insurance costs

Renters insurance is basically free. Homeowners insurance is not.

Easier tax preparation

Renters have less recordkeeping and shorter forms to fill out when it comes time to prepare their income taxes. That's because they can't claim a mortgage interest deduction and other tax goodies.

For more information on apartments in West Columbia, SC contact Abberly Village.

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hotpads.com


Should Retirees Rent or Buy? - West Columbia, SC

Joseph Coupal - Thursday, April 28, 2016

Retirement housing choices have some retirees considering renting their home instead of buying.

Is that a good idea?

For many it is as it increases their disposable income to enjoy life now.

MSN Money notes that for some retirees, "renting has emerged as a viable option because it allows retirees to have more money to fund other retirement expenses."

Robert Johnson, president of the American College of Financial Services said, “For many retirees, renting is a preferred alternative, and selling a home frees up equity that can be used.”

Some of the other advantages for the renter is that the owner is responsible for property taxes, insurance, maintenance and usually any HOA fees.

Renting Affordability

Since 2000, the number of people age 55 who have chosen to rent has risen by 6%.

If you rent, you don't feel stuck or trapped. They are looking at this to make a change in lifestyle and one that has less maintenance involved.

Renting is more affordable, because consumers do not have to shell out money toward property taxes, insurance, maintenance and HOA fees.

Some retirees also chose not to renovate their home and found the supply of new construction shrinking or exceeded their price range.

Some people were forced to rent, because they could not find anything new where they wanted to live and decided they would rent in the meantime.

In many major metro areas, renting remains cheaper than buying a home. While the price of renting has risen 4% each year during the past six years, exceeding inflation, the prices are predicted to “moderate going forward” as more new construction occurs and the increase in supply will bring down price appreciation and the number of people renting.

For more information on apartments in West Columbia, SC contact Abberly Village.

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MSN/ nationalledger


Benefits of Renting an Apartment in West Columbia, SC

Joseph Coupal - Thursday, April 21, 2016

You just got a new job and you have the cash to get a new place. You may even have a small family to support and you need a bigger place to let them grow in. So you start looking at the housing market.

There are a lot of houses available for sale, but you’ve heard the rumors; you know that it’s a risky business -- especially in this economy -- to purchase a home. Who knows what could happen?

So you start looking at rental properties. It’s a vicious cycle of either ending up dissatisfied or risking everything for a home you may or may not stay in.

Don’t worry, though. Here are some reasons to rent that may help you to decide.

Pros of renting

In recent trends, homeowners have leaned toward renting rather than buying -- especially because of the fairly recent housing market crash. Here are some of the advantages of renting a home.

1. No maintenance is required

OK, sometimes your home will need maintenance. But if you rent, getting those things fixed is as easy as calling your landlord and having someone fix it for you. It’s a no-hassle way of taking care of the upkeep of your home.

2. Moving is simpler

Since your family is still growing, at one point you will outgrow your home. If you are renting, it’s a lot easier to switch to a month-to-month lease so that you can relocate than it is to sell a home.

3. There are fewer design decisions

Let’s face it. Choosing a floor plan or building your own home can come with its own stresses and problems. When you rent, you don’t have to worry about choosing carpet or paint colors or the stone that will go on your countertops. You have access to viewing the floor plans, so you know exactly what you are getting in the apartment.

For more information on renting apartments in West Columbia, SC contact Abberly Village.

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Daily Herald


Reasons Students Live Off-Campus – West Columbia, SC

Joseph Coupal - Wednesday, April 13, 2016

The housing process is known to be one of the more stressful times for students. Despite often guaranteed housing by colleges, students are still left scrambling, conspiring with friends, and searching to find backup plans to their backup plans. While most students are stressing over room draw, a few select students decide to skip all the drama and take advantage of off-campus apartments.

The students who choose this option will be thrust into an environment similar to the one they will face after college.  They will have to learn to cook for themselves and figure out transportation to and from campus. So, with housing on campus guaranteed and off campus apartments conveniently located, why do these students elect to live off campus?

Leigh Mathieu ’16 is one of the students who chose to live off-campus this year. She currently lives with two of her friends in an apartment.  When asked why she initially chose to live off campus, she said, “I wanted to live with two other people, and there aren’t many options for triples on campus. I also really wanted an apartment after coming back from abroad, where I lived on my own.”

For students like Mathieu, an off-campus apartment is both cost-efficient, and a great way to try and live with friends without relying on getting a senior apartment or a good room draw pick.

While living off-campus acts as a substitute for the dorms, it can also provide underclassmen with the opportunity to live in an apartment. “I just want a kitchen,” Grant Alenson ’18 said.

Living in an off-campus apartment has many benefits. In addition to being cost-efficient, off-campus housing also allows students the opportunity to escape from campus each night. At a college students can often feel trapped. Getting away from campus each night allows for a nice decompression period. According to Mathieu, this was one of the things she enjoyed most this past year. “It’s [been] really nice to get away from the bubble and feel like a real person. I’ve become so much more self-sufficient—I can cook, maintain a house, clean, etc. There’s also so much more space: not only do I have a spacious bedroom, but we also have a living room and dining room. Logistically you save a lot of money and avoid the burdens of living on campus,” she said.

The challenges off-campus students face are not endless.  In fact, the issues are simply something every student will have to face after graduation.  Though it may not be for everyone, off-campus housing is a great transition into the real world and students like Mathieu have nothing but good things to say about it. When asked if she would recommend off-campus housing to other students, Mathieu said, “Do it! So many people I’ve talked to want to be able to cook, and let’s face it, not everyone gets apartments. It’s a great way to better prepare yourself for post-grad life while also enjoying college.”

For more information on apartments in West Columbia, SC, contact Abberly Village.

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colbyechonews.com


Millennials Are Still Choosing to Rent Apartments in West Columbia, SC

Joseph Coupal - Wednesday, April 06, 2016

The first thing many young 20-something’s want to do is buy a home and get a mortgage.

But times have changed. More people around the country are signing rental leases, even as lenders also report an uptick in home mortgage activity.

The drive toward renting isn't just about funds — it's also part of a generational shift as younger people choose to rent as a lifestyle choice and a wide variety of other reasons.

The reasons vary, from whether it's a desire for flexibility, an aversion to big-ticket repair costs or fears left from owning an unsalable home during the housing crisis. Residential rental vacancies are at their lowest since 1985, and apartment managers are hard-pressed to deal with demand even as rents continue to rise.

The home-ownership rate for those under age 35 is slightly more than half the national average and trending downward about 1 percentage point per year.

At the same time, apartments have steadily grown larger, and they only stay vacant at most just a few weeks or months before being snapped up. Apartment occupancy rates are higher than average, and have risen in the past year, which is a significant shift in the industry. It will be "several years" before there are concerns about oversupply.

Rents have risen here between 3.5 percent and 4 percent in the past year, which looks good compared with double digit increases of the past.

The good news is that job growth is the top factor that drives occupancy and rents. An improving job market should eventually raise wages.

Renters as a percentage of household units are growing, as is their cost burden, and home ownership may be at a 20-year low.

You can certainly buy a house cheaper than you can rent one in some states. But a financial toll is still evident, as most of those who do buy rely on the federal government to back their mortgages. Before the mortgage crisis, more than 80 percent of home-purchase mortgages were conventional — those not backed by the government. That number was halved during the recession, and although conventional mortgages have rebounded to about 55 percent of market share, the FHA loans account for nearly a quarter of mortgages (up from about 10 percent), and loans backed by the Department of Veterans Affairs and the U.S. Department of Agriculture remain near all-time highs of 12 percent and 9 percent, respectively.

As the economy improves and interest rates rise, mortgages will become less attractive, meaning that financial strain of buying is likely to remain for renters.

For more information on apartments in West Columbia, SC, contact Abberly Village.

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Knoxville News Sentinel



Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169

Call or Text: 866-933-5853
Email Usabberlyvillage017@myltsmail.com
View Map

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