Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169
Call: 833-334-9767 (803) 936-1012 Email UsAbberlyVillage.PropertySite.HHHunt@aptleasing.info View Map

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

West Columbia SC Apartments Blog

Reasons to Rent in Retirement in West Columbia, SC

Joseph Coupal - Wednesday, April 26, 2017

Abberly Village, West Columbia, SCSometimes it makes sense to sell your house and rent.

You may have long pictured homeownership as a cornerstone of your retirement. But baby boomers are increasingly renting instead. From 2005 to 2015, the number of renters ages 60 to 64 nearly doubled.

Though the longer you live in a home the more likely it is that buying beats renting—if it is paid off, taxes and upkeep are probably lower than the rent you’d pay—there are times when renting is the way to go.

You’re restless

Want to buy a home in your favorite vacation spot? The idyllic weeks you’ve spent there may not give you a realistic sense of what life is like year-round. For example, 70°F winters might not be worth humid 90°F summers.

Trying out your new town by renting will save you money and headaches. Real estate can have huge transaction costs, like the typical 5% brokerage fee. You don’t want to pay it twice.

You want the extra cash

Selling the family home and investing some (or all) of the proceeds can help pad your savings—and provide peace of mind.

Yes, you could tap home equity via a reverse mortgage. But selling would supply more upfront cash. A 65-year-old with a $300,000 mortgage-free home could net $275,000 from a sale; a reverse mortgage would free up only $150,000. You’d have to tap some of your proceeds to rent a new place, but the extra long-term cost of renting might be worth the comfort of more cash on hand.

You want convenience

Sick of raking leaves? Don’t want to deal with peeling paint? Renting lets you off-load such chores. It’s not your problem anymore. A rental in a multiunit building can also include amenities you’ll value more as you age, such as an elevator and a doorman.

Rental property developers have started catering to older customers. The result: buildings that include a greater number of larger two- and three-bedroom units, as well as aging-friendly perks like door-to-door package delivery and trash pickup.

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

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Best States to Find a Job –West Columbia, SC

Joseph Coupal - Thursday, April 20, 2017

Abberly Village, West Columbia, SCSome states are adding jobs much faster than others. CNBC knows, because we've been measuring job creation in all 50 states for 10 years in our annual America's Top States for Business study.

Job growth is a key metric in our Economy category, measuring employment increases over the previous 12 months based on seasonally adjusted nonfarm payroll numbers from the United States Bureau of Labor Statistics. That means we've been measuring job growth since June of 2006. Past performance is no guarantee of future results, but these 10 states have been the best places to find a job over the last 10 years.

South Carolina didn't experience the overbuilding that many of its neighbors did during the housing boom, But the overall economic crisis still hit hard-and it hit the state earlier than most. That has made for easier comparisons as the recovery rumbled along, bit SC has also benefited from a surging health-care sector that continues to add jobs.

#10 South Carolina

2006-2016 Job Growth 8.28%
Net jobs added: 156.200
Key industries: Healthcare, manufacturing
10-year Tops States Economy Rank: No. 40

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

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Should I Rent or Should I Buy – West Columbia, SC

Joseph Coupal - Thursday, April 13, 2017

Abberly Village, West Columbia, SC When relocating, one of the first questions you should ask yourself is if you are going to rent or buy. The answer is not always so straightforward. If you’re just passing through, renting may be a better option.

When Renting a Home Makes More Sense:

You Plan on Relocating

While it’s true many people stick around for the long term, many are just passing through Charleston. If you know you’re not going to be around for the long-term, renting is an easier option with less commitment.

Your Income Is Unpredictable

Self-employed professionals, new graduates, start-up employees, and contractors don’t always know what their income will be in the long-term. While contractors can expect a predictable paycheck while on contract, once the term ends you’ll be stuck with a mortgage payment no matter what. If cash flow is an issue, owning a home will make it harder for you to downsize when times get hard.

Retirement is Close

Even if you have a pretty hefty retirement fund, a high cost of living can wipe that out quick. If you can buy for cash and still have plenty to live on, then owning may be for you. Otherwise, renting is a better option. The fixed costs will make it easy to budget. Renting also provides you with the flexibility to downsize or move into your RV and travel.

Mortgage Rates Are High

The past few years have seen some of the lowest rates for a long time, but lately rates have begun to rise slightly. Because of the high sticker price of many homes, try to buy when rates are at a low and rent in the meantime.

There’s no one perfect answer for the rent vs. buy question. It all depends on your situation. Take your time to explore your goals and your financial picture before making the decision.

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

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15 Reasons Why Renting Is Better Than Buying – West Columbia, SC

Joseph Coupal - Thursday, April 06, 2017

Abberly Village, West Columbia, SCFor many, renting a home is just a temporary stop on the path to home ownership. It’s the standard argument: Why throw away money on rent that could be used to build home equity?

But these days, the renting narrative is changing. Millennials are not investing in homes like we thought and the housing market is far from “fixed.” The industry leaders advertise a sellers’ market, meaning homeowners can expect to see multiple offers on their homes as the inventory remains low. While that’s great for homeowners, it means home buyers can expect dangerous bidding wars and price increases.

For that reason, many people are putting the American dream of picket fences and front porches on hold and choosing to make one of their smartest decisions to date. It’s a personal decision to rent or buy, but there are many pros to renting your next home rather than buying.

Here are 15 convincing arguments for renting a home — and they’re not all financial.

1. Buying and selling a home is difficult for everyone involved

Selling or buying a home is more stressful than bankruptcy, divorce, and the loss of a loved one, according to one poll. Homes are on the market for an average of four weeks, and 37% of sellers reported reducing the asking price at least once. Plus, if you’re in a long-distance relationship, do yourself a favor and rent. A 12-month lease is a whole lot easier to break or buy out than a 30-year mortgage — nevermind the added stress moving can place on an already suffering relationship.

2. Property taxes can kill you

Many homeowners are unaware of unexpected costs that come with owning a home of your own. Fees, such as property taxes, insurance, and maintenance, add up quickly. For landowners in Hawaii, the property tax on a home worth $179,000 will do little to raise eyebrows, amounting to only $487 annually, according to WalletHub. But those in New Jersey are stuck paying a tax rate of 2.35% that equates to $4,189 annually on a house of the same value. Taxes can fluctuate, but rental terms are consistent across the duration of your lease.

3. You can take time to repair your credit

Irresponsible spending habits in college and those sneaky credit card scams will haunt you for years. Sometimes, it can take more than seven years to fix your credit. If you’re in the bad-credit club, like one-third of the American population, it might be best to rent rather than buy. Those with low credit scores will find buying a home laborious, and it’ll be wise to wipe clean those credit blemishes before jumping onto the buying scene or making any substantial purchases in general. Renting to re-establish a solid payment history can be a good way to bide your time.

4. You’re financially unable

Those with irregular incomes, such as freelancers or small-business owners, prefer renting as a more stable monthly option. Homeowners are at the mercy of Freddie Mac and Fannie Mae — and who knows what their future plans are. Today, mortgage rates are still low, hovering around 4%. But before you think our nation’s real estate woes are over, remember the average 30-year fixed-rate mortgage was under 3.75% in summer 2016. Then, it shot upward after the presidential election and averaged 4.24% in December. If you’re still unsure about your ability to overcome any potentially rocky housing trends, consider renting while establishing a bigger emergency fund.

5. You remain flexible

Buying a home means choosing a location we want to plant roots in for at least a few years. For those who aren’t exactly sold on their current living situation, investing in real estate would be a mistake. Mortgages and other ownership obligations are like concrete shoes — don’t expect to pick up and move anytime soon. When the opportunity comes to accept your dream job on the opposite coast or marital bliss rides on relocating to another city, the last thing you want to do is get bogged down in selling a home.

6. Maintenance issues are not your problem

Flat head or Phillips. Socket verses pipe. If you have no answer, you might want to rent your next dwelling. Not all of us were blessed with the handy gene. Homeowners are often forced to fork over a sizable chunk of their savings to make impromptu and unexpected home repairs. But renters only need to place a call to their property managers when the sink drains are clogged or the dishwasher gets finicky.

7. Upkeep is less expensive

Say goodbye to weekends filled with long afternoon brunches and lazy days at the pool. That large backyard that originally sold you on your property? Well, it needs to be mowed — again. And last week’s storm really did a number on your gutters over the garage. Homeowners don’t have the luxury to bypass time-consuming chores that renters ignore. And renters need not worry about general housework and upkeep required of homeowners.

8. It makes filing taxes harder

If you think taxes are intricate now, wait until you buy a home. Yes, there are some valuable tax breaks homeowners receive, but processing mortgage interest deductions, home repair expenses, and rental income takes considerable time. That’s something renters don’t worry about. In fact, renters are already out socializing care-free, knowing their refund checks are already on their way.

9. There are options for roommates

Roommates are a great option if you’re looking for help shouldering the cost of living expenses. Having someone around to split the cable bill and vent about workplace drama is great, but with homeownership, one person is responsible for the payment at the end of the month. So when that flaky roommate is late on rent, the difference must be made up elsewhere. Apartment complexes, on the other hand, are experienced working with multiple tenants in one location and offer options for individual leases.

10. You have more access to amenities

Yes, you might enjoy the peace and quiet of a home in the country or a friendly neighborhood environment in the ‘burbs, but you’ll miss other amenities. Renting in a community allows you access to things, such as a community pool, fitness center, dog parks, and Wi-Fi. If you still want access to these perks after leaving the comfy confines of rental agreements, you’ll need to shell out serious dough.

11. You can grab cash bonuses

Many rental communities offer additional cash bonuses if you work for local companies. If you’re a local employee, you might be eligible for rental stipends or bonuses just for working close to home. Check to see whether your employer is on the list of nearby companies to max out every discount and money-saving trick in the book.

12. Urban living at a cheaper price

It’s been said millennials prefer city living over driveways and acreage, but they are unable to afford the fees that accompany urban life. Living near universities and vivacious night life is not cheap, and purchasing an Instagram-worthy loft is a merely a pipe dream for some. Depending on where you want to live, trendy areas, such as warehouse or arts districts, major cities, and beach communities, are typically more renter friendly. Finding affordable homes to buy might require moving into less popular areas.

13. There’s better security

Gated communities come at a high price, but most rental complexes have security features already included in their agreements. This is a welcomed benefit for women, single renters, or tenants living in urban environments. Homeowners will find neighborhoods with these extra precautions come at a price.

14. You remain adverse to risk

Financial advisers might say we must “risk it to get the biscuit,” but that’s easier said than done in a housing market that’s seen so much variation lately. Therefore, many are choosing the safer option to rent rather than investing in real estate. In addition to affordable prices, renters are also adverse to potentially debilitating changes in the housing market. Although experts are showing a recovery, a better, more accurate description is stabilizing. Words, such as “foreclosure” and “mortgage rates,” are still often paired with phrases of uncertainty. And that’s worrisome to fiscally conservative Americans.

15. You have the ability to invest elsewhere

It’s recommended home buyers put 20% down on a home to avoid being house poor. Even when considering upfront rental fees and deposits, it’s still cheaper than the tens of thousands of dollars it takes to buy a home. Some renters might already have potential savings stacked away for this very purpose, but with other uncertainties and future questions, it might be best to invest that money elsewhere. A few grand could do wonders for your future retirement or help hack away at those student loans that still burden you.

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

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Abberly Village Apartment Homes

1000 Abberly Village Circle, West Columbia, SC 29169

Call: 833-334-9767
Email UsAbberlyVillage.PropertySite.HHHunt@aptleasing.info
View Map

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

$952-$1,431