Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169
Call: 833-334-9767 (803) 936-1012 Email 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.


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.


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.

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.

Christian Science Monitor

Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169

Call: 833-334-9767
View Map

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