House prices are low and mortgage rates are too, many say it is time to buy a home. But in an upside down real estate market, is it really more cost-effective to own as opposed to renting? Interest rates are lower, house prices are down, but it's also harder to get financed.
Many renters today have gotten out of a mortgage. Others are renting so they are not tied down to such a large payment every month.
Whether you should rent or buy depends on many factors, like how long you plan to stay in your home. Some experts will tell you buying is better than renting only if you plan to be in your house more than five years.
If you don't need the tax help, which is minimal, you may want to rent. Most of the time, and always at Pebble Creek, apartments in Roanoke, VA, the landlord will fix a kitchen sink which saves the renter out of pocket money.
Here's one pro and con breakdown:
Pros to Buying a House:
Emotional satisfaction of owning your own home.
It builds equity, (but it takes awhile).
You can get a tax break if you deduct your mortgage interest and your property taxes.
Cons to Buying a House:
Homeowners have to pay property taxes
Homeowners have to pay for maintenance and upkeep.
There's less flexibility if you decide to move.
Down payments are often 20% of the purchase price (if you want to avoid mortgage insurance). That's money that could have been invested elsewhere.
Lastly, most experts say the value of properties won't go up soon. When they do, since selling your house with a realtor normally comes with a 6% commission, values must go up by at least 6% JUST to break even, that does not take into account closing costs.
Buying at today's prices doesn't necessarily mean your house will be worth more in a couple of years. Whether it's worth the risk to buy is something each person needs to figure out for their unique situation.
Roanoke's first Black History Parade will be held Saturday, Feb. 18, beginning at 11 a.m. The parade route will start at the old Randolph County Training School on LaFayette Highway, travel to Three Points, then down Main Street to the old City Cafe at Chestnut Street where it will turn down West Point Street.
Councilman Mack Arthur Bell said they are getting a good lineup of participants so far. Marching bands from Handley High School and LaFayette High School will play. A gospel group from Lineville, The Golden Travelers, will also perform.
LaFayette Highway will be closed to traffic about 10:50 a.m. and reopen it once the parade has turned left on to Main Street. Main Street will be closed as the parade approaches and be closed until the parade clears the street.
The parade will pause to allow the bands to play and the group to sing during a short program downtown.
Grab friends from your apartment in Roanoke and participate! Either walk in the parade or go and watch.
Pebble Creekapartments in Roanoke, VA is excited to be participating in Relay For Life this year! We want to make a difference by teaming up to participate in the American Cancer Society Relay for Life. There are so many ways that you can help us reach our team goal.
Our team will camp out overnight and take turns walking around the track to raise both money and awareness to help the American Cancer Society create a world with less cancer and more birthdays. We will be hosting events on the property of Pebble Creek Apartments, selling Luminaries’, foot steps and suns. Click 'HHHunt Relay for life' for the link to easily donate from the comforts of yourapartment home or office!
Pebble creek, apartments in Roanoke, VA have some special happenings for the Month of February to celebrate their residentsfor Valentine's Day.
Valentine’s Day “Guess-How-Many” Game:
Come to our office between February 8 - February 14, 2012 to guess how many pieces of candy are in our Valentine’s Day candy jar. The closest guess without going over wins the candy jar!!!
Post “Be Mine” on ourFacebook pageto win $50 Gift Card to Blue Apron Restaurant
Contest runs February 6 - February 13th.
Don’t have a Facebook account? Email your name, phone number and apartment number to: PebbleCreekInfo@HHHunt.com
Kiss and Tell Referrals
We have doubled our referral bonus to $200 for the month of February.
Terms & Conditions: This Referral Program is for referrals received from 2/1/12 to 2/29/2012. New resident must reserve &move-in by 3/15/2012. The name of the referring party must be indicated by the applicant on the "How did you hear about Pebble Creek?" line on the application.
Pebble Creek Apartment Homes IN Roanoke, Virginia HAS PARTNERED WITH CELL PHONES FOR SOLDIERS TO PROVIDE TROOPS WITH FREE CALLS HOME
Pebble Creek Apartment Homesand non-profit Cell Phones for Soldiers Inc. are asking Roanoke residents to help troops call home by donating gently-used cellular phones. With ongoing deployments to combat areas and elsewhere, as many as 369,000 troops are serving in the U.S. military overseas. By donating gently-used cellular phones to Cell Phones for Soldiers, Roanoke residents can provide troops with that precious connection to loved ones back home.
Beginning today, residents can donate their phones to the cause at Pebble Creek:
3345- C Circle Brook Drive
Roanoke, Virginia
Siblings Robbie and Brittany Bergquist founded Cell Phones for Soldiers at the ages of 12 and 13. The charity has since provided more than 114 million minutes of free talk time to service men and women stationed around the world. Funds raised from the recycling of cellular phones are used to purchase pre-paid international calling cards. On average, Cell Phones for Soldiers distributes 12,000 calling cards each week to bases around the world, care package programs, deployment ceremonies and VA hospitals.
“Each year we have been humbled by the amount of people and organizations like Pebble Creek that take the initiative to support our troops,” said co-founder Brittany Bergquist. “We have also watched the communication gap between our armed forces and their loved ones continue to grow as more troops are deployed for their third or fourth tour overseas.”
Donated phones are sent to Michigan-based ReCellular for recycling. For every donated phone valued at just $5, Cell Phones for Soldiers is able to provide two and a half hours of free talk time to deployed troops.
ABOUT CELL PHONES FOR SOLDIERS INC.
Cell Phones for Soldiers Inc. (CPFS) is a 501(c)(3) non-profit organization dedicated to providing deployed and returning troops cost-free methods to communicate with family while serving in the United States military. Based in Norwell, Mass., CPFS was founded in 2004 by Robbie and Brittany Bergquist, then 12 and 13 years old. From the recycling of used mobile phones and cash donations, the organization has raised more than $7 million, collected more than 8.3 million cell phones and provided troops overseas with more than 114 million minutes of free talk time. For more information www.cellphonesforsoldiers.com. Find us on Facebook at http://www.facebook.com/JoinCellPhonesforSoldiers.
This weekend get out of your apartment in Roanoke and enjoy some music. The Kroger Cabin Fever Series brings you regional music that is sure to “warm your soul and cure the winter blues!”
Held at the Roanoke Civic Center, the Craig Woolard Band is bringing to you the man with one of the best voices in the Carolina Beach music scene! After several crowd-pleasing appearances at BB&T's Party in the Park, Roanoke is excited to have this band back.
The Craig Woolard Band was formed in 2004 when Craig Woolard parted ways with his former band. This band is claimed to be the South’s #1 Beach Music, R&B, Top 40, Motown, 70’s and 80’s, and Rock and Roll party band. In the band's first year they were honored as “Group of the Year”, “Entertainer of the Year”, “Male Vocalist” (including 2010), “Best Smoothie Song”, and “Song of the Year”. In 2006 the song “I’ve Got a Feeling” won “Song of the Year.”
This band is committed to giving the audience a good time and good music. It is time to get out and hear the sounds of the beach in Roanoke. Shake off those winter blues.
Searching for a new apartment is not easy, especially in a city like Roanoke, VA where you have lots of options. Before you begin your apartment search, consider if you want a small apartment community or a larger one? Which apartment floor plan would work best for you? Think about which apartment amenities are important to you in an apartment community.
Here are some suggestions on how to simplify your apartment search.
Consider location
Try pinpointing an area in or around Roanoke that you want to live near such as your workplace or your favorite neighborhood, and search within a 1-mile or 5-mile radius of that location for apartment communities. Apartments in Roanoke, VA offer an easy commute and a wonderful community setting.
Use tools on online listings
Many apartment communities post apartment floor plans and photos online. Looking at images of floor plans and apartment amenities and features may help you decide what communities you want to visit.
What don’t you like about where you live now
When you make a list of what you don’t like about your apartment now, this will help you keep priorities top of mind. Don’t look at apartments that have those same features. Do you need more space? A larger kitchen? Do you need a community that allows pets? Do you need extra storage space? Or a pool? A well-kept fitness center?
Keep track
Make a spreadsheet that lists each community’s name, rent, amount of space, most important apartment amenities, and any other important facts or notes.
Many people are told when they are younger that renting is only for college graduates or people who cannot afford to buy. Many parents hammer these ideas into their children and tell them that renting is equivalent to throwing money away every month. Fortunately, today people are beginning to finally think for themselves and challenge these ideas. Here are 4 reasons to pat yourself on the back for deciding to rent an apartment in Roanoke, VA at an HHHunt Community!
1. Renting can save money
At the very minimum you’ll be shelling out PITI for your home. That is:
1. Principal
2. Interest
3. Tax
4. Insurance
The PITI doesn’t include property maintenance like maintaining the yard, paint, plumbing, repairs, decorating, etc… When you rent an apartment in Roanokeat an HHHunt community, the monthly payment is almost always quite a bit less than the PITI in your area and there are no maintenance expenses!
2. Homeowners’ tax deductions are overstated
According to research quoted by MSN, “… half of homeowners don’t get a break, because even with mortgage interest and property taxes, their total deductions do not exceed the standard federal tax deduction ($11,900 for couples and $5,450 for singles)”.
For these folks, it’s like spending $100 to save $20. They’re better off saving the difference and investing it. Even if there is a “break” on your taxes, you typically had to spend more than you would have spent to rent to get back that $20 for every $100 spent in interest payments.
3. Renting gives you flexibility
For the up and coming young professional, you’re better off renting and saving for a few years than to buy a small condo. Who knows how fast you will outgrow it? When you own a home, you can’t always sell it when you need to sell it at the price you want to sell it in order to accept a new employment opportunity. If you have owned a home and don’t want the constant maintenance responsibility, renting gives you the opportunity to enjoy your weekends instead of completing that “to do” list.
4. Our superb service teams!
Most apartment communitiesoffer 24 hour emergency maintenance and technicians who are skilled in HVAC, plumbing, and electrical. At an HHHunt Community, our service teams take great pride in offering prompt and professional service to you. Whether you need a light bulb changed or a new compressor for your AC unit, we are there to take care of you as fast and efficient as possible. We are always a phone call or email away and most service requests are performed on the same day or within 24 hours!
School's out for holiday vacation. Are you looking for ways to keep your kids busy during the last weekend of school break.
There's plenty to do so you won’t get cabin fever in your apartment in Roanoke, start to settle in for students home on break.
For the kids who aren't afraid to take risk, ice skating is a great way to pass the time at the Roanoke Civic Center's "School's Out" annual skating session.
If the ice isn't what they want, Thunder Valley in Salem has warmer activities for you to enjoy. For a discounted price during Christmas vacation students can play laser tag, arcade games and ride go-carts.
Known as "the star city of the South," the lighted star on Mill Mountain in Roanoke is shining bright, and the elegant Hotel Roanoke is filled with festive Christmas trees during its annual "Fashions for Evergreens" display which benefits the United Way. The hotel is just a block from Market Street, filled with shops, restaurants, and holiday special events.
The common opinion is that making a rent payment instead of a mortgage or purchasing is like “throwing the money in the wastebasket.” At some point in time before the recession, homes were incorrectly considered an investment that would “always” go up rather than one that “may” go up.
When you consider all the pros and cons, buying may not be the best choice in all situations.
Avoid big money commitments: Usually, one can rent anapartment in Roanoke, VAfor the same or less than the cost of buying and they don’t have to come up with large fees like closing costs or taxes. Also, if a mortgage is taken out, the first several years of payment are dedicated mostly to the interest, not the principal.
Many apartment communities cover the costs of maintenance, landscaping and general repairs that a buyer would be responsible for themselves. A renter’s biggest expenditures are often moving and furnishings.
Flexibility: Since renting requires no substantial long-term investment, the renter has choices more often about their living situation. Moving from a bought home involves planning and costs such as commissions to real estate brokers. Also, if a home buyer wanted to sell, they could be at the mercy of the markets or not be able to sell their home at a profit.
If house values continue to decline, the worst scenario for a renter is only paying until their lease expires. People who rent can’t place a value on having that freedom.
Investment Considerations: Large down payments or home purchases can make it difficult for home buyers to maintain savings and investments specified for retirement and related activities.
In some cases, the money saved by not buying could outweigh the money earned on a purchased home, depending on the investment and property appreciation. For a home buyer, the risk is higher if an unexpected sickness or injury occurs causing financial strain.
The rent vs. buy decision is more than comparing lease and mortgage payments. The reality is there are pluses and minuses to each option.
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House prices are low and mortgage rates are too, many say it is time to buy a home. But in an upside down real estate market, is it really more cost-effective to own as opposed to renting? Interest rates are lower, house prices are down, but it's also harder to get financed.
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