Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169
Call: (866) 933-5853 (803) 936-1012 Email Usabberlyvillage017@myltsmail.com View Map

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

West Columbia SC Apartments Blog

Should Active Military Members Rent or Own? - West Columbia, SC

Joseph Coupal - Friday, February 24, 2017

Abberly Village, West Columbia, SCDeciding when to take the home-buying plunge can be tough. For military members and their families, the unique nature of their service often adds a new layer of consideration.

Here are a few key things to consider.

1. Frequent relocation

Active-duty military personnel move frequently, often once every two to three years. Prospective buyers should be comfortable with the idea of turning around and reselling a property or renting it out—and the possibility of neither of those coming to pass.

Talk with real estate agents and other experts to get a feel for the local housing market and near-term trends. You might have no problem selling the home or finding renters in your particular community, but there are no guarantees.

Even if your Permanent Change of Station (PCS) moves you across the country, you’re still on the hook for that new mortgage payment. Short sales and foreclosures can wreck your credit and put home buying out of reach for years. So it’s not a decision to take lightly.

2. Costs of renting vs. buying

Do your homework, and get a clear sense of what’s likely to cost more. Paying a mortgage is may be cheaper than renting in some U.S. markets, but every buyer’s situation is different. A good lender can help you get pre-approved and run realistic affordability numbers.

Keep in mind homeownership comes with costs that renters don’t typically face, like maintenance, lawn care, appliance repairs, and more. And buying with $0 down means you’ll start life as a homeowner with little to no equity.

3. Wants and needs

Homeownership offers a lot of freedom, but it also comes with significant responsibility. Take stock of your priorities to see where you land. How important is it for you to personalize your space? Do you enjoy home and yard maintenance? How do you feel about paying for them?

Owning a home means you can’t call the landlord to fix a broken pipe or replace the water heater. Renting means you’re building equity for someone else.

In the end, there isn’t a one-size-fits-all answer. Buying a home evokes thoughts of long-term stability that are sometimes at odds with the unpredictability of the military lifestyle.

Still, there’s something to be said for the sense of pride and independence that come along with homeownership. Think long and hard about what’s right for you, and get good information from real estate and mortgage experts you trust.

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

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Realtors.com


Why You May Want to Downsize, At Any Age – West Columbia, SC

Joseph Coupal - Wednesday, February 15, 2017

Abberly Village, West Columbia, SCRegardless of your age, making the decision to move to downsize from a larger home to an apartment can be very hard, or very exciting.

But sometimes you may not have a choice, especially as the years go by. As an older adult, the practicality of downsizing may outweigh the sentimental value and familiarity of your current, larger home. Here are some reasons that it may be right for you to downsize to an apartment in West Columbia, SC.

The maintenance

Keeping a well-maintained larger home requires a lot of work. Whether it's yard chores, replacing broken roof shingles or other jobs outside and inside the home, the upkeep can leave you exhausted.

Or, perhaps you're simply no longer able to do certain household maintenance tasks due to age-related physical ailments.

The solution is to hire others to do the job or ask family members who may or may not have the time or skill. But whether you're living by yourself or with someone else, maintaining a larger home may become overwhelming.

You've retired

Retirement is a common motivator for older adults to downsize homes. If you've retired or are planning to soon, you may want to decrease your annual expenses while making sure you have enough saved for the rest of your retirement.

Moving into a smaller home or independent living community can cut down on your mortgage, taxes and insurance payments, leaving a cushion in your bank accounts.

Too Many "things"

You may be having a harder time finding things around the house. This doesn't mean you're experiencing cognitive issues. But it may be a sign that you have too much stuff, some of which you don't need anymore.

Downsizing will force you to prioritize your possessions and hang on only to what's most meaningful and what you really need.

Need to Meet People

Whether you're living alone or not, loneliness can become a factor in a larger home, especially after your children have moved out or moved far enough away that they can only visit infrequently, or if your spouse has passed away.

Downsizing and moving into a retirement community will not only lighten your load and responsibilities, but it also can revive your social life, providing a built-in network of neighbors and new acquaintances.

Your larger home is no longer affordable

If your mortgage payment and utility bills are creating financial strain now that you're no longer working, a downsize to a smaller home can be a smart solution. Selling your larger home may provide financial relief. Plus, being free from the financial burden should boost your overall well-being.

There are a lot of reasons why downsizing from the home you've known for years or even decades can be difficult. But when staying in a larger home becomes more of a burden than not, the answer to whether you should be clear.

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

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bankrate.com


It May Not Be Time for You to Buy - West Columbia, SC

Joseph Coupal - Friday, February 10, 2017

Abberly Village, West Columbia, SCThere is absolutely no reason to be making decisions based on something an “expert” said who decides to share his guess about what he thinks will happen next in the housing market.

The same holds true for the other people who happen to express similar concerns to you about buying right now. Most are convinced that if they don’t buy a house now, they’ll be priced out of the market, and maybe they will be. But we heard that argument a lot in 2005-6.

Buying a home is one of the biggest financial decisions that most of us will make in our lifetimes. And yet it’s often a decision in which the person with the most knowledge about what makes the most sense gets overlooked: You.

There’s a simple way to fix this problem. All it takes is a piece of paper, a pencil and some time. So if you’re struggling with this decision to buy (or sell), take a minute to think through these questions and write down the answers, you’ll need to refer back to them the next time somebody decides to share what he thinks will happen with the housing market.

  • Can you afford it, and do you have enough saved for a down payment? Make sure you include the cost for things like property taxes, homeowner association fees and utilities.
  • Can you qualify for a loan? If the answer right now is no, then you can stop torturing yourself, because it doesn’t matter if the market is about to take off. You can’t buy a house.
  • How long do you plan to live in the home? There’s some debate about the minimum time you should live in a home for it to be worthwhile, but if it’s less than five years, forget about it.
  • What guess are you making about housing prices? It is a painful reality that the one variable that makes a huge difference in this decision is unknowable. What is going to happen to housing prices in the short term is anyone’s guess. But for your own sanity, just assume that housing prices will continue to increase by about the long-term average of inflation, or 3 percent. You really can’t afford to buy a house if the decision depends solely on what the house might one day be worth.

The answers to all of these questions will depend on you and your individual situation. And that’s the point. Hopefully it’s clear now how ridiculous it is to buy a house based on some stranger’s advice.

Through this process, you may discover that buying and owning a house isn’t for you, and that’s O.K., too. But these questions can also help end your anxiety around what is probably the biggest financial decision you’ll make. Don’t you think that’s worth a piece of paper, a pencil and a little time?

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

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New York Times


When Renting is Worth it – West Columbia, SC

Joseph Coupal - Friday, February 03, 2017

Abberly Village, West Colubia, SCIn a lot of situations renting isn’t “throwing away money.” If you are buying a home for $300,000, with a thirty year loan, you’re paying almost $1,000 a month in interest. What about property taxes and homeowners insurance? That money just vanishes into thin air – $1,500 a month, at least. If you can rent for less than that, that’s what you should be doing. In fact, if it’s even close, you’re better off renting an apartment in West Columbia, SC because then you don’t have to deal with the cost of maintenance and repairs.

“But I’m building equity!” If you’re spending more on interest, property taxes, homeowner’s insurance, maintenance, and repairs for your home each month than you’re spending on rent, you’re not building equity – you’re losing it. The only reason you’re not building equity in the apartment in this situation is that you’re not investing that money you’re saving over the costs of home ownership.

There are many situations where homeownership is the right answer, but there are also many situations where renting is better. The answer to the question is personal and situational. If you are interested in renting an apartment in West Columbia, SC, contact Abberly Village Apartment Homes.

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Christian Science Monitor


Buy or Rent in Retirement? – West Columbia, SC

Joseph Coupal - Wednesday, January 25, 2017

Abberly Village, West Columbia, SCWhere do you want to live during your retirement years? And do you plan to buy a home or rent one? Those are key questions, with many factors to consider and large amounts of money at stake.

For example, if you buy a home in retirement, it’s an expensive commitment. You have to pay a large deposit up front and you’ll be obligated to make equal monthly mortgage payments for up to 30 years.

Pros and cons exist for both options; to help you decide whether to buy a home or rent your residence during retirement, consider the following factors.

Buying a Home in Retirement

No matter what your stage of life, purchasing a house or condo is a major financial commitment. You have many choices when retiring, but if you later decide you goofed on your home plan, it is difficult to change course. Here are some pros and cons to buying a home after you retire.

Pros of Buying a Home in Retirement

Buying and owning your home in retirement offers some critical advantages. Consider these important factors that will help you decide whether this is the right decision for your retirement living:

  • You own your castle. You can make the improvements or changes you desire. No landlord needs to approve changes, although there might be condominium rules or neighborhood restrictions.
  • Mortgage payments remain stable. You know exactly how much your monthly mortgage payment will be for the entire term of the loan. It cannot rise, unless you have an adjustable-rate loan. However, taxes may increase.
  • You can pass the property on. Your family or other heirs can inherit the property.
  • You are not tied to your home forever. You have the option to sell it and buy a different residence, or to switch to renting. Be sure you want to stay in your home for at least 5 years.
  • Tax advantages might accrue. A mortgage can provide tax benefits. Consult an accountant or other tax advisor to determine if those factors are significant.
  • Cons of Buying a Home in Retirement
  • You should also consider the disadvantages that exist to owning a home during retirement. Here are a few disadvantages that could turn you off of home ownership:
  • Your residence will need ongoing maintenance and repairs. Things break down, no matter how diligent you are about keeping major systems and appliances in good working order. For example, you might have to fix or replace the roof, windows, water heating system, and appliances like the washing machine and dryer. You will need adequate retirement savings to pay for necessary maintenance and repairs.
  • You are required to pay extra costs. These costs include taxes, insurance and possibly homeowners association fees. It is unlikely these costs will decrease during the term of your mortgage.
  • If you want to move, selling your home might be difficult. You do not have control over the local housing market.

Renting in Retirement

It is no longer assumed that all retirees have to own the home they live in during retirement. They can rent a home instead. Renting can be a viable and desirable option for many people. However, as with buying a home, there are pros and cons to renting that you need to consider carefully.

Pros of Renting a Home in Retirement

Renting a home offers unique advantages that might appeal to you more than the advantages of owning a home. Here are some of the positive points of a rental option:

  • You generally do not have to make a long-term commitment. As a renter, your lease might be annual, with the option to renew each year — or it might even be month-to-month.
  • You have considerable flexibility. You can move elsewhere for any reason — for example, if the cost of living in your area becomes too high or you want to live closer to family.
  • You have no expensive maintenance or repair costs. In most cases this is true. It is a relief to be able to call someone else to fix the overflowing toilet.
  • You do not have to pay property taxes. Such taxes can cost thousands of dollars per year.
Cons of Renting a Home in Retirement
  • Although there are a number of positive features to rental homes, consider some of the disadvantages to this option so you can better decide if it’s right for your retirement situation.
  • You have less control over housing costs. The main disadvantage of renting is that after the term of your lease, you have no control over housing costs..
  • Your ability to personalize is limited. Most standard form leases give you limited opportunities to make changes to your home. It is likely your landlord will not permit major structural changes.
  • You have little say about changes. If the owner wants to make certain changes to the property — for example, to paint the house an ugly color — you have to accept them.
  • You need to pay on time if you want to move again. If you want to move to a different home, you might be dependent on your landlord to give a good reference. If you have habitually paid your rent late or had disputes, the landlord might be reluctant to support you, which could affect your ability to rent elsewhere.

Ask These 6 Questions First

Understanding the pros and cons of buying versus renting in retirement will help guide your decision. But before you decide, there are threshold questions you need to ask yourself first.

Consider the following:

  1. When do you expect to retire?
  2. Do you already own a home you can sell to buy a new property? If not, make sure you have the resources for a down payment, closing costs and up-front expenses.
  3. How long do you think you will stay in the new home?
  4. What are your sources of income for paying housing costs? It’s also important to gauge how consistent that income will be.
  5. How much money do you have available for total housing costs? If you buy a home, do not forget to include taxes, insurance and a reserve for maintenance, upgrades and repairs. If you rent a home, you will likely be required to pay a security deposit and the last month’s rent up front, plus renters insurance.
  6. What is the trend for cost-of-living in the area? If you own a home, rising home values might be advantageous if you plan to sell later. If you are a renter, your landlord might raise the rent if the neighborhood becomes more desirable.

Bottom Line

Making the decision of renting versus buying is complex at any stage in life. You need to weigh the pros and cons of each possibility for properties in your area. Ultimately, your decision depends on your assets, risk tolerance and personal preferences for your retirement living.

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

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Go Banking Rates


The American Dream of Homeownership is Changing - West Columbia, SC

Joseph Coupal - Wednesday, January 18, 2017

Abberly Village, West Columbia, SCAmerica is changing the way it lives. Owning one's home has always been considered a significant part of the modern American dream — it meant pride and security, control, stability and goodbye to landlords.

It still does, but times change and there are signs that the dream of owning a home may be changing as well.

The ‘bubble’

The Great Recession, which began in late 2007 and lasted for nearly two years, is still having an impact on the U.S. housing market. Since the bottom dropped out a decade ago, "new home starts" — used to describe when construction begins on a new home — have been sluggish.

That was until October, when they hit a nine-year high, then dropped in November, suggesting Americans are confused about where and how they want to live.

This housing bubble was a main cause of the Great Recession.

For potential homebuyers, it has become a lot harder to get the credit necessary to buy a house. Plus, there's more paperwork when consumers do qualify.

That leads to a depressed market. Another issue: a lack of inventory.

Diploma vs. mortgage

Lurking in the background of less new construction is the renting vs. buying issue.

Renting is becoming increasingly attractive because many people just don't have the money to buy.

There's not enough income to allow people to get into housing.

Zillow predicts that millennials will eventually be in a financial position to buy, and will boost home ownership. At the same time, Zillow says, renting will become more affordable as incomes rise and growth in rents slows.

One of the biggest reasons that young Americans are waiting to buy their first home is student debt. Millennials, who used to be considered the prime homebuying age, are carrying an estimated $1 trillion in student loan.

The problem is, the kids are coming out of school with a tremendous amount of student loan debt. It's like a drag on their finances. Student loans is money that could be going toward the mortgage. I think it's kind of delaying the process.

The under-35 generation are buying nice cars, they're going out to dinner, and they're staying in apartments. And they're moving around a lot more with their jobs. They are a lot more mobile.

A cautious market

Ten years ago, the national percentage of households renting was about 30 percent; today, it's about 37 percent. Each percentage point nationally is about 1 million households.

Rentals are also attractive because renters are spared the worry of potentially plummeting home values.

We ought to be making rental housing much more respectable, whether in urban or suburban areas. Our whole society ought to get away from the fixation of ownership as the only way to go. It's not the only way to go. Ownership is not for everybody; it takes a certain income, budgetary discipline and a steady income.

Many Americans learned from the recession that investing in home ownership is not a sure way to build wealth.

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

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voanews.com


Hidden Costs That Come with Buying a Home – West Columbia, SC

Joseph Coupal - Thursday, January 12, 2017

Buying a home isn't just a 20% down payment and a monthly check for the mortgage.

There are a mountain of hidden costs — from closing fees to taxes — that can add up to more than $9,000 each year, real estate marketplace Zillow estimates — and that number will only jump if you live in a major US city.

Business Insider spoke to Zillow's chief economist, Svenja Gudell, about the three big unavoidable costs — homeowners' insurance, property taxes, and utilities — and other common costs that are often overlooked.

If you're considering buying a home, be mindful that it is not just about the cost of the home:

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

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article and image: businessinsider.com


Happy New Year 2017 from Abberly Village in West Columbia, SC!

Joseph Coupal - Thursday, January 05, 2017

Abberly Village Apartments in West Columbia, SCA fresh new year has arrived once again. It’s the time to be thankful for everything we have and for everything we have achieved in the past year. But it is also time to start new, start strong, and accomplish everything we want to do this year.

It is also time for us to say “Thank You” for our success last year. If you are an existing associate, we have enjoyed working with you. If we are just embarking on a new relationship with you in 2017, we look forward to the opportunity. We are excited for what we all can achieve in 2017.

The New Year stands before us, like a chapter in a book, waiting to be written. We can help write that story by setting goals. – Melody Beattie

Happy New Year from Abberly Village in West Columbia, SC!

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Reasons to Rent in Retirement – West Columbia, SC

Joseph Coupal - Wednesday, December 28, 2016

Abberly Village, West Columbia, SCFor years, the standard plan for retirement was to pay off your mortgage and continue living in your family home, or perhaps sell that home and pay cash for a smaller home, possibly in a retirement community.

But that plan has changed in recent years, as some retirees have joined their millennial children and grandchildren in choosing to rent rather than buy. While their reasons vary, the trend indicates that renting is losing its stigma and that, for some older people, renting makes good economic sense.

Here are seven reasons to rent in retirement.

You want to try out a new area. Many people fantasize about moving to warm climates when they retire. But those places are big lifestyle changes for many, and some people discover that the land of mosquitoes and endless summer is not for them. Plus, it's hard to choose a neighborhood when you don't know the city. Renting gives you an opportunity to try on a new lifestyle and check out neighborhoods without committing.

You expect to move soon. If you sell the family house and expect to need assisted living within a few years, buying a home to live in for a short time may not make sense. Or perhaps you're planning to move closer to children in a few years, but you want to stay in your hometown a little longer. Renting makes it easier to move quickly.

You can't afford to own a home. The cost of the mortgage is just part of the cost of homeownership. Real estate taxes, condo or HOA fees and homeowners insurance are somewhat predictable, but the cost of repairs is a looming unknown. Those types of expenses require you to keep some cash in reserve. Houses are so expensive, and the expenses are unpredictable sometimes.

You want more freedom. You don't want to spend the rest of your life in one place, and you want to be free for adventure. That might mean long-term travel, living a few years near one child and then a few years near another, or maybe you would like to test out various cities where you could settle. In any of these scenarios, renting makes more sense. When you're renting, it gives you a lot of flexibility.

You want to tap the equity in your home. If your home is worth a lot of money but you have no access to cash for living expenses, selling the home and renting can be a good option for some, though you'll need to do the math and weigh this option versus a reverse mortgage.

You want to move into senior housing. Some older people, especially if they are single, may not like living alone but they may not need assisted living. One option is to rent an apartment in an independent living community, which provides meals, activities and maintenance. Buy-in communities also have these amenities, but a rental community is less of a commitment and may make more financial sense for some.

You can't get a mortgage. Since the foreclosure crisis, lenders have become much stricter about documenting income. Retirement income counts, but you may not have enough money for the home you want, especially if you don't have a lot of cash for a down payment. Buying becomes more difficult when you retire because lending standards are stricter.

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

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US News - Money


Happy Holidays from Abberly Village Apartments in West Columbia, SC

Joseph Coupal - Tuesday, December 20, 2016

Abberly Village apartments in West Columbia, SCIt is once again "end-of-year" blog post reflection time.  If you are reading this blog post, you care enough about us and our business to invest a minute or two reading here.  That means a lot to us.  The primary reason for this blog is to educate and inform our readers; as an ongoing act of giving thanks for the privilege of earning your continued trust and continued professional partnerships. So we're glad you're here.

We reflect today on the blessings that so many of you bring to both our personal and professional lives. Over the course of 2016, we hope that we have made a difference in many personal and professional lives. This is the true essence and a key measure of professional reward and business success.

It is our sincere wish that all of you bask in the joy of reflection and within the warm confines of family and friends throughout this Holiday season and throughout 2017. Cheers!

Happy Holidays!

-from all of us here at Abberly Village Apartments in West Columbia, SC.

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Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169

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

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