Abberly Green Apartments

117 Abberly Green Boulevard, Mooresville, NC 28117
Call: 844-379-4792 Email UsAbberlyGreen.PropertySite.HHHunt@aptleasing.info View Map

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

Apartments Mooresville NC Blog

Renting is Cheaper in Mooresville, NC

Joseph Coupal - Tuesday, July 25, 2017

Abberly Green, Mooresville, NCTraditionally, owning a home is touted as a smarter financial move than renting one. But with demand increasing and the supply of houses for sale falling, home prices have been rising nationally, according to real estate marketplace Zillow. So, you might be wondering: Is it better to rent or buy a home?

To find out where it makes more sense to rent or buy a home, GOBankingRates surveyed the cost of renting versus owning a home in all 50 states and the District of Columbia. Since conducting a similar survey in 2016, we found that the number of places where it’s more expensive to own than rent has increased from nine to 11 — this includes a few states where the price difference is minimal.

For this year's study, we looked at the estimated rent price for all homes listed on Zillow. We also calculated the estimated monthly mortgage to own a home in each state, based on the median list price of homes listed on Zillow, a 20 percent down payment and a 30-year fixed-rate loan.

8. North Carolina

Buying vs. Renting a Home in North Carolina

  • Monthly rent in North Carolina: $1,157
  • Monthly mortgage in North Carolina: $1,233
  • Should you rent or buy: Rent

In 2016, it was more expensive to rent than own a home in North Carolina. But now, it costs $76 more to own than rent, likely due to a sharp rise in home prices. The median home list price jumped from $226,750 in May 2016 to $249,000 in May 2017, according to Zillow data.

For more information on apartments in Charlotte, NC, contact Auston Woods.

#HowYouLive

gobankingrates.com


Can Renters Afford to Live in and Around Charlotte, NC?

Joseph Coupal - Wednesday, July 19, 2017

Abberly Green, Mooresville, NCWhat's the cost of living in Charlotte for renters?

Looking to move to the Charlotte, NC area? Cost-of-living estimates make this one of the cheaper cities you can live in in the U.S.

While other cities in the South like Raleigh, Knoxville, and Dallas are around the same if not similar price ranges, prices in Charlotte are dwarfed by most major metropolises. For instance, it’s 42 percent cheaper to live in Charlotte than in San Francisco. Depending on where you’re coming from, you can save a fortune on rent alone.

So what is the cost of living in Charlotte, North Carolina?

The cost of living in Charlotte, NC, is 5 percent lower than the national average.

A great local economy has made Charlotte area a very good deal. Major companies in the industries of finance, motor sports, and energy are coming in and the recent economic boom has meant fast growth for the area; however, and prices are likely to rise. Right now, it’s the 14th best city for business and careers and one of the top U.S. financial cities. Your new friends in the area will likely be working for "the big three": Bank of America, Wells Fargo, or Red Ventures.

What are the monthly expenses typically like?

Here’s a simple breakdown of the cost of living in Charlotte, NC, that locals typically pay:

  • About $1,019 for Housing: Rent is largely reasonable in Charlotte, NC. Housing in general is about 15 percent lower in price than the national average.
  • About $391 for Transportation: This is the main downside of living in Charlotte: Cost-of-living estimates will be dependent on fluctuating gas prices, as it is very difficult to live in the city with no car. Although there are plenty of parks and green spaces where you can get fresh air, Charlotte is hardly a walkable city at all, and the fairly good public transportation systems are rarely used. Gas in the area typically hovers around $2 per gallon, and an express monthly pass with the local transit system is $121 per month. According to the Living Wage Index, locals will need to spend $391.41 per month on transportation.
  • About $252 for Food: This is another odd thing about the city: There are farms, farms everywhere, but not a lot of farmers’ markets! That’s quickly changing, though. The Living Wage Index estimates that $251.83 will be spent on food and groceries for residents each month. Note that those hoping to go out will likely be paying higher rates because of the local Prepared Food and Beverage Tax.
  • About $39.99 for Internet Access: The two main Internet providers here are Time Warner Cable and AT&T, and the average price for Internet-only service is $39.99 per month.
  • About $100 for Utilities: This is a rare instance where good weather translates to a good cost of living. In Charlotte, NC, you’ll pay affordable amounts for utilities, rarely going above $100 per month. Usually, the energy bills are between $50 and $75 per month, and a water bill is under $25. Note that this is the only category where Charlotte’s prices go above the national average, by about 8 percent.

That adds up to an average of $1801.99 per month for someone looking to live alone in a one-bedroom apartment.

Is it possible to find an affordable apartment?

Compared to most major cities that a rental agent would work in, it’s very easy to find affordable rent in Charlotte, North Carolina. Cost-of-living numbers and great job outlooks make this increasingly an area that appeals to professionals and young families. For more information on apartments near Charlotte, NC, in Mooresville, NC contact Abberly Green.

#HowYouLive

jumpshell.com


Reasons to Rent

Joseph Coupal - Friday, July 14, 2017

Abberly Green, Mooresville, NCBuying a home is part of the American Dream, but that doesn't necessarily mean it's the best choice for you.

For decades, the conventional wisdom has been that buying a house makes much better financial sense than renting one. After all, you'll have to spend a large chunk of your income on housing either way, so doesn't it make more sense to invest that money in something you'll eventually own, rather than simply forking cash over to someone else?

However, a number of factors can make renting a much wiser financial decision than buying. Here are four good reasons why it may be smarter for you to rent instead of buy.

1. You're not staying in the home very long

The sooner you intend to move, the less sense it makes to buy.

If you plan to stay put for less than two years, then buying a house would be a poor investment. In such a sort amount of time, the home likely wouldn't gain enough value to make up for the costs of buying and selling it, like realtor commissions, closing fees, moving expenses, and so on. And don't forget that buying or selling a house is a huge hassle compared to switching from one rental to another.

2. You're in an inflated housing market

Some parts of the country are prohibitively expensive to live in. Coming up with a down payment for a $500,000 house is considerably harder than coming up with a down payment for a $150,000 house. But what makes certain highly desirable urban areas really problematic is that home prices in these areas can be driven steeply upward by the high demand. Not only would you have to pay an inflated price for the house, which makes it harder for you to turn around and sell it for a gain in a few years, but you'd also have to pay far more each month as a homeowner than you would as a renter for the same amount of house.

3. Your income isn't secure

If you're not confident in your job security, then now is not the time to make a huge purchase like a new house.

If you suddenly lose a major source of income, then you may need to cut your housing costs in order to get by. That's a relatively quick and painless process if you're renting; you might pay a fee to end your lease early, but you could move to a cheaper home in a matter of days. If you own your home, then a career crisis could force you to sell your house at a bad time; it may take months to find a buyer, or you might end up selling the house for less than you paid for it.

4. You have no savings

If an emergency savings account is important for a renter, it's absolutely crucial for a homeowner. As a renter, if something goes wrong with the house, you can simply call the landlord, who will have to pay to fix the problem. As a homeowner, all the expense lands squarely on your shoulders. Even if nothing expensive breaks down on you, homeowners have ongoing additional costs such as homeowner's insurance and property taxes.

If you don't budget for such expenses or run short one month, you may end up having to tap into savings to pay for them. And if you don't have a well-funded savings account, you may be forced to turn to credit cards -- and that repair bill will be made even more expensive by interest and possibly fees.

Also don't forget that ponying up a down payment will take a big bite out of your savings. You'll need to make sure you still have a solid emergency fund after you've paid out the down payment and the cost of moving. After all, what's the point of buying home if you'll be too busy fretting about expenses to enjoy it?

For more information on apartments in Mooresville, NC, contact Abberly Green.

The Motley Fool


Renting Gives Financial Freedom to Retirees

Joseph Coupal - Friday, July 07, 2017

Abberly Green, Mooresville, NCA growing number of homeowners are using the equity in their houses, by selling and moving into an apartment.

One couple sold their home two years ago, but they didn't buy a condo. Instead, like a growing number of people downsizing, they rented.

He often woke up in the middle of the night last month as he often does. This time, though, he rolled over and went back to sleep.

That's when he knew that after more than two years of turmoil, he was finally home. The fact that the roof over his head belongs to someone else only added to his peace of mind.

They are among a growing number of downsizers, who are choosing to rent rather than buy a retirement nest. It is a choice that can be physically, mentally and financially liberating.

The couple is healthy and vibrant. But a couple of years ago, their two-story home of 32 years was "just consuming too much time and it was absorbing huge amounts of energy that we wanted to use in other ways." There were rooms they didn’t even use.

"We wanted to leave while we still could — gracefully."

The emotional and financial decision to rent rather than buy is becoming more common.

Many retirees have had a really good run by owning their own homes for many years. They've accumulated a lot of equity. They have a feeling that the market is going to go back down again and all the benefits of this great market are going to be lost if they don't cash in.

At the same time, these home sellers can't necessarily see spending hundreds of thousands, plus maintenance fees, on a condo.

Many retirees don't want the responsibility of owning a home any longer. With an apartment you can close the door and go away.

Some are open to renting or buying.

"Buying any of the condos we looked at would have consumed a huge percentage of our net worth. You don't want 50-, 60-, 75-, 80 per cent of your net worth in one piece of real estate. It's just too risky.

The couple pays rent every month and they only write just three checks a month — rent, electric/gas and cable. When they lived in their house, there were 15 to 20 regular expenses.

Gone are the bills for a security system, for chimney repairs, sewer connections and maintenance agreements on appliances.

Community is important too. Many can rent in an apartment community where they know and can meet other residents.

Is renting an apartment saving them money on a monthly basis?

Maybe not. But it isn't costing more. And they can take the proceeds from their home sale and invest the money.

Releasing the equity on your house can actually generate enough cash flow to cover rent.

For people rich in equity but cash poor, renting can give them the freedom to pay for some of the extra things they want in life. It's all very well to watch your home's value appreciate, but you can't eat a doorknob.

If the decision to rent or buy a smaller home is a financial wash, then go with the better emotional fit. That frequently depends on whether you are comfortable giving up the control of owning your own place or whether you really need the cash to cover the cost of enjoying retirement.

If you're going to rent and invest your home's equity you need to look carefully at where you're putting that money so you're not seeing your old age security benefits clawed back.

For more information on apartments in Mooresville, NC contact Abberly Green.

#HowYouLive

thestar.com



Abberly Green Apartments

117 Abberly Green Boulevard, Mooresville, NC 28117

Call: 844-379-4792
Email UsAbberlyGreen.PropertySite.HHHunt@aptleasing.info
View Map

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

$839-$1,239