The Rent Generation is Making a Choice to Rent

Posted: September 28th, 2012 | Author: | Filed under: Uncategorized | No Comments »
For those right in the middle of what’s been called the “rent generation,” roughly encompassing those in their mid-20s to mid-30s-plus renting is a great option. With house and condo prices higher than ever, the idea of buying one in the heart of a city is frightening to those carrying high student debt, unnerved by the uncertainty of the post-2008 economy and facing prolonged underemployment, if not unemployment.

Buying a home (including a condo) in close proximity to employment and amenities is becoming increasingly expensive in comparison to renting,” wrote the authors of Drivers of Apartment Living For the Twenty-First Century, a 2010 report from GWL Realty Advisors Inc. “As a result, expect more 25-45 year olds to be renters in the coming decades.”

There are, some say, also attitudinal shifts at play. The GWL Realty report notes that many young people are more interested in consuming experiences than goods, which in part involves living in areas of the city that are exciting and in apartments that are filled with apartment amenities and close to work. At a time when automakers are discovering that young people would rather spend discretionary income on technology than a car, it seems many are also content to rent than buy a home.

Of course, in a world where investments can be destroyed by opportunistic speculators and lax regulators and jobs can disappear because of technology and out-sourcing, is it any wonder that the “rent generation” is skeptical about long-term commitments? As one renter says, “I’d rather collect experiences than collect things.”

For more information on apartments in Raleigh, NC contact Abberly Place Apartment Homes.

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Don’t be a Bad Roommate

Posted: September 21st, 2012 | Author: | Filed under: Uncategorized | No Comments »

For many people, having roommates is a natural transition. It can be a great way to trim expenses and save for the future. But if you're not careful, having a roommate can also devolve into constant bickering over finances and dirty dishes.

Roommate tensions are not limited to strangers. Long-suppressed grievances can erupt if you're not careful. If you live in an apartment in Garner, NC and are about to get a roommate, read on:

The key to living amicably is open communication. Everyone must be able to ask candid questions about financial situations and living preferences. Air any complaints or perceived inequities before they magnify and sour the relationship.

Try to agree on as many living arrangement details as possible before moving in together. A few considerations:

The lease. Whoever signs the lease is responsible for paying rent and meeting other legal obligations, so you may want to have all roommates sign the lease if possible. That way, even though you'll still be responsible for the rent if someone moves out suddenly, at least you'll have some legal recourse to recover his or her share if they baulk at paying.

You may need the landlord's permission for a new roommate to move in. The landlord may want to run a credit check and may even ask that a new lease be signed.

Rent. If one bedroom is more spacious or has a private bath, a 50/50 split may not seem fair. The same goes if assigned parking or other amenities aren't equitable. Try to calculate rent amounts together so no one feels slighted later on.

Utilities. Find out which utilities are paid by the landlord and which you'll split. Consider usage levels: Say one roommate works from home and runs the heat all day, or another never watches TV or uses the Internet.

Food. Some people are territorial about their food. Decide whether you'll go in together on groceries, cleaning supplies and other household items or each buy your own, and set rules for replacing used items.

Major purchases. If your place needs common area furniture or appliances, it may be simpler to buy pieces individually so when you move there's no question of ownership. For example, you buy the couch and your roommate buys the TV.

Keep an inventory. Inevitably, your possessions will get mixed in together. To make it easier when your household eventually disbands, make a list of who owns what.

You may want to draft a roommate agreement that establishes household rules and duties. While not necessarily legally binding, this document gives you each a chance to weigh in and may be a helpful tool if communications should later break down. In addition to the billing and cost-sharing information outlined above, also include details such as:

Housecleaning schedule and responsibilities.

Agreement about how to handle damages caused by roommates or their guests.

Move-out procedures, including how much notice is required, forwarding addresses, abandoned property and who is responsible for finding the new tenant.
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Should You Buy or Rent?

Posted: September 14th, 2012 | Author: | Filed under: Uncategorized | No Comments »

Considering all of the volatility in the housing market in recent years, does it really make sense to own a home? Or is it better to rent an apartment in Garner, NC?

It used to be that the American dream included owning a home. Now the pendulum seems to have swung dramatically in the other direction. Since the housing bubble burst, some are beginning to rethink the conventional wisdom that owning a home is a good investment, even though declines in home prices have made purchasing and owning one somewhat more affordable.

Home prices and interest rates are only one consideration, as many found out during the housing market bust. Home ownership is great if are going to settle in the same place for around 10 years and can continue to afford the payments. Unfortunately, these circumstances can be unpredictable.

When deciding to buy or rent a home, financial considerations are important, but lifestyle issues should also be taken into account.

Be sure to consider everything when it comes to homeownership; benefits should be tempered by other considerations. Taking on a mortgage obligates you to live up to the terms of the loan for years, and homes typically require a significant investment in maintenance and occasional improvements. And as far as an investment, there's no guarantee you will be able to sell your property for more than what you paid for it.

Renting is a realistic starting point for most. As your savings grow and your credit score rises, you might be in a position to qualify for a mortgage and make the leap to home ownership. But choosing the right time to buy is important -- you need to feel secure that your sources of income will be there for the long run.

Lifestyle considerations. Personal traits and current life circumstances are other considerations as you assess whether to buy or rent.

Homeowners should be up to the task of maintaining their own property; from lawn work to minor home repairs. It also means being able to pay for professionals to do occasional work, including plumbers, electricians and carpenters. Renters enjoy a more maintenance-free lifestyle.

Another issue is the need for mobility. Those who are quite certain they can count on their job being in the same area can feel more comfortable making the jump to home ownership, provided they can afford it. Those who expect to be on the move for a job change or educational opportunities in the next three to five years might appreciate the relative mobility they have as a renter.

What's right for you?

There is no "one-size-fits-all" answer to the question of whether you should own or rent your home. A good starting point is to honestly answer questions such as:

Are you comfortable with your current life circumstances and income stability?

Are you disciplined in managing your expenses and paying off debts on a timely basis?

Are you fairly confident you won't be required to move to another city or area in the next five years for personal, work or education purposes?

Interested in renting in Garner, NC? Contact Abberly Place Apartment Homes.

Let Your Guest Enjoy Raleigh Like a Native

Posted: September 7th, 2012 | Author: | Filed under: Uncategorized | No Comments »

Do you have friends who want to come visit you at your apartment in Garner, NC? Well now they can visit our fair city and live like a native.

Abberly Place Apartments offers fully furnished apartments that your guests can rent by the day. So if you have out- of-town guests that want to come and visit for a long weekend or for the holidays, these are perfect.

Or perhaps you have business partners or industry specialists coming to Raleigh for business., this is the perfect, and often more comfortable option.

Your guests are welcome to stay at Abberly Place Apartments and enjoy the convenience of the shopping center, the comforts and convenience of our apartment amenities and have easy access you.

We have available both one bedroom apartments and two bedroom apartments for rent. The one bedroom apartment rents for $60/night and a two bedroom that rents for $80/night, much less expensive and more comfortable than a hotel!

If you would like to reserve one of these fully furnished apartments for your out-of-town guests, please call our office at 919-772-6545.

Raleigh Area Labor Day Weekend Events

Posted: August 31st, 2012 | Author: | Filed under: Uncategorized | No Comments »

Labor Day weekend … the unofficial end of summer! If you live in an apartment in Garner, NC and are looking for something to do in the Raleigh area, here are some ideas from WRAL.

Noah’s Landing in Coats hosts its annual Blue and Cue at the Zoo. The hours are 10 a.m. to 5 p.m., Saturday, and 1 p.m. to 5 p.m., Sunday. The zoo features more than 60 species. This weekend’s event features the animals, along with crafts, games, bluegrass music and barbecue.

The Sandbox kids and family band will play a free concert featuring their folksy take on songs for kids and parents at Raleigh’s Fletcher Park from 6 p.m. to 8 p.m., Sunday. Get there a little early to set up your blanket or lawn chairs and picnic. It’s a wonderful way to end the summer!

The African American Cultural Festival takes over City Plaza in downtown Raleigh on Saturday and Sunday. You’ll find live music, food, entertainment and more. A Family Village on the 300 block of Fayetteville Street will include crafts, large-scale community interactive art installations and a special stage with a variety of performers.

Isaac Hunter's Oak City Tavern, in downtown Raleigh, will hold Splash Bash starting at noon, Saturday. The fundraiser for a local family will include games, a water slide, dunk tank, food, music and more.

The Duke Symphony Orchestra will perform a free pops concert from 6 p.m. to 7:30 p.m., Sunday, on Duke’s East Campus Main Quad. Bring a picnic to enjoy while listening to the orchestra play music from Broadway and popular movies.

The Paperhand Puppet Intervention’s 13th annual puppet pageant, called City of Frogs this year, continues this weekend with shows at the Forest Theatre in Chapel Hill. This massive production features live music, masks, stilt walkers, shadow puppets and more. Performances are every Friday, Saturday and Sunday, Labor Day Monday, through Sept. 9.

And New Hope Valley Railway in southwestern Wake County will hold its monthly rides on its diesel and steam engines on Sunday. They start at 11 a.m. Get there early to guarantee your departure time and also check out the railway’s exhibits. The hour-long rides take place on an open air train. Be sure to check the website for all the details.

Happy Labor Day weekend!