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3 Reasons Renting Can Be Better than Buying

3 Reasons Renting Can Be Better than Buying

Joseph Coupal - Monday, January 29, 2018

Abberly Market Point, Greenville, SCThe housing crash permanently altered the perception of homeownership. Renting is now, if not vogue, a socially acceptable alternative to homeownership. And here are a few reasons why renting can be even better than owning a home.

Liquidity

First of all, renters have a greater liquidity than homeowners, a financial flexibility that cannot be understated in today’s economy. Homes are a highly illiquid form of investment, given that they cannot be sold quickly. That’s not to say buyers don’t exist, but they’re not necessarily easy to come by either. A house cannot be quickly converted into cash without the possibility of losing a large percentage of its value. Renters avoid this problem entirely.

And unlike homeowners, renters invest no equity in their property, so they’re able to put that money elsewhere. This is important to note because homes are not appreciating like they used to. Homes are not the safe bet that people have always relied on. If people are interested in seeing large investment returns, they’re better off putting their money elsewhere.

Flexibility

Renting also affords a mobility that homeownership cannot. Instead of being bogged down by the process of selling a home, renters can move as soon as the lease expires. Then they’re free to move wherever they like, trying out new neighborhoods or sticking around what they know. And they don’t have to rehab their unit prior to moving. They don’t have to engage in costly updates to make their unit more desirable. Escrow might as well be a word in a foreign language. Additionally, renters don’t have to pay for anything to be fixed — that’s the landlord’s job. Instead of replacing a busted washer and dryer, many renters can just request a fix from the property manager. It’s incredibly easy, saving both time and money.

Lifestyle

Many rental properties offer numerous facilities and benefits that homes do not. Apartment communities offer amenities that cater to life’s essentials — and then some. Some of these amenities are in-unit, like upgraded kitchens, energy efficient appliances, smart control HVAC systems and designated storage spaces. Plus, there are community amenities that homeowners lack. These include gyms, dog runs and in-apartment daycare. Renters save an incredible sum by avoiding membership fees.

The data doesn’t lie: According to The State of the Nation’s Housing 2017, the number of renter households rose by 600,000 from 2015 to 2016, marking 12 consecutive years of growth. Conversely, during the same 12-year period, the national homeownership rate fell. And not only did this figure fall, it decreased every single year. The stigma behind renting has all but vanished, demonstrating clear advantages with which homeownership cannot compete.

For more information on apartments in Greenville, SC contact Abberly Market Point.

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forbes.com


South Carolina is Popular with Boomers

South Carolina is Popular with Boomers

Joseph Coupal - Monday, January 22, 2018

Abberly Market Point, Greenville, SCSouth Carolina has experienced rapid growth in the last 30 years, much of it from retirees seeking a warmer climate and lower cost of living. As more and more baby boomers begin to retire that trend is certain to continue. Retirees have been moving into all parts of the state, the area in the southwest low country, but near Hilton Head has experienced the most explosive growth.

South Carolina's population is growing. Some of that growth is coming from retirees entering the state. Obviously the housing market crash has impacted sales and prices in 55+ and active adult communities in SC, but probably less so than for the housing market in general. For the record, South Carolina has an income tax maximum rate of 7%, people over 65 get some significant exemptions.

Thanks to the great success of Hilton Head Island as a vacation and retirement spot, the entire southwestern area of the state is now a retirement hot bed. Part of the attraction is the many rivers and bays are in the area, making waterfront living possible for many people at somewhat reasonable prices. The region is dotted with active adult communities to explore.

What People Like about SC:

  • Mild winter climate
  • Being near the coast, bays, and rivers
  • Cachet and prestige of Hilton Head
  • Brand new,master-planned developments
  • Outstanding recreation such as golf, tennis, fishing, boating
  • Many of the towns are charming

This part of SC is definitely one of the best retirement regions in the world. For more information on apartments in Greenville, SC contact Abberly Market Point.

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topretirements.com


How Much More it Costs to Own Than Rent In Your State

How Much More it Costs to Own Than Rent In Your State

Joseph Coupal - Tuesday, January 16, 2018

Abberly Market Point, Greenville, SCOwning a home is often considered the American dream — and it’s an expensive one. Homeowners in all 50 states and Washington, D.C., pay from 33% to 93% more for housing each month than do renters living in the same state, according to a new NerdWallet analysis.

But many homeowners reap benefits that you can’t get from renting. The equity you build can be leveraged for loans that can be used to improve the home and boost its value or be used in financial emergencies.

While renting can’t offer those financial benefits, it’s cheaper to rent on a month-to-month basis. If you’re wondering how to save money for a down payment, renting can help you build that nest egg — but in extremely expensive or competitive markets, renting might be better for the long haul.

To determine the monthly homeownership premium — the additional cost of owning instead of renting, expressed as a percentage — NerdWallet compared 2015 American Community Survey data from the U.S. Census Bureau for the median gross rent and median homeownership cost in each state and Washington, D.C. Median gross rent includes the costs of monthly rent and utilities for all kinds of rental properties, and median homeownership cost includes monthly mortgage payments, real estate taxes, insurance and utilities. This comparison doesn’t include the down payment required to buy a home, which is traditionally 20% of the home price for conventional mortgages, but is lower for FHA or VA loans.

Key takeaways

  • Owning is more expensive everywhere. Across all 50 states and Washington, D.C., it costs more each month to own a home than to rent. The median cost people pay nationwide to own a home is 54% more than the median cost to rent each month.
  • The smallest difference is still a third more to own.
  • In some states, the cost of owning far eclipses renting.

State: South Carolina

Homeownership Premium: 43%
Median Monthly Cost to Own: $1168
Median Monthly Cost to Rent: $819
Difference: $349

For more information on apartments in Greenville, SC, contact Abberly Market Point.

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NerdWallet


Retire in Greenville, SC

Retire in Greenville, SC

Joseph Coupal - Tuesday, January 09, 2018

Abberly Market Point, Greenville, SCSituated in the foothills of the Blue Ridge Mountains, Greenville has transformed from a blip on the national map to a bustling metropolis. The former textile powerhouse now has companies like GE and Michelin moving in and infusing the town with new energy. The reinvigorated downtown serves as the focal point of the region, attracting new business, hosting an emerging culinary scene and housing what some call the crown jewel of Greenville: Falls Park on the Reedy.

Greenville encompasses big-city amenities without attracting the same unpleasantries that come with a more populated, urban metro area. The 10-block stretch of Main Street is lined with a variety of boutiques, restaurants, businesses and bars.

A low cost of living and mild temperatures year-round make Greenville desirable to many. Plus, being located steps away from the mountains without giving up any of the offerings of a developed region, makes it easy to enjoy what nature has to offer.

Rankings

U.S. News analyzed 100 metro areas in the United States to find the best places to live based on quality of life and the job market in each metro area, as well as the value of living there and people's desire to live there.

Greenville, South Carolina is ranked:

#29 in Best Places to Live
#13 in Best Places to Retire

For more information on apartments in Greenville, SC  contact Abberly Market Point.

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US News - Real Estate


Best States to Find a Job

Best States to Find a Job

Joseph Coupal - Tuesday, January 02, 2018

Abberly Market Point, Greenville, 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 Greenville, SC contact Abberly Market Point.

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CNBC