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An Economist Says Buying a Home is Overrated- Raleigh, NC

Joseph Coupal - Wednesday, February 03, 2016

Is buying a house instead of renting really the best financial decision?

It’s a question that’s frequently debated, with traditional thinking being that renting is akin to throwing money out the window. But there are some good reasons to believe that buying a home instead of renting isn’t as great of an investment as Americans once thought.

“Housing is overrated as a financial investment,” according to economist Alex Tabarrok, an economics professor at George Mason University. He addressed the question of what economists think about buying compared to renting.

“First, it’s not good to have a significant share of your wealth locked into a single asset.” “Diversification is better and it’s easier to diversify with stocks. Second, unless you are renting the basement, houses don’t pay dividends. Stocks do. You can hope that your house will accumulate in value but don’t count on it. Indeed, you should expect that as an investment your house will appreciate less than does the stock market.”

Owning a home makes it harder for many people to change locations for new job opportunities, leading to homeowners holding onto homes even while prices fall.

Still, Americans don’t seem to be giving up on homeownership yet.

Of course, there are some benefits to homeownership. Many people simply enjoy interior decorating and entertaining. And perhaps more importantly, home ownership is often tied to access to better public schools. The U.S. tax code also subsidizes houses.

Still, he cautioned against the seduction of a large home. “Behavioral economics tells us that we quickly get used to big houses, but we never get used to commuting,” he wrote. “So when you have a choice, go for the smaller house closer to work.”

For more information on apartments in Raleigh, NC contact Auston Grove Apartments.


Can Downsizing to an Apartment in Raleigh, NC Help Your Retirement?

Joseph Coupal - Wednesday, January 27, 2016

For many Americans, their home ends up being one of their largest if not the largest single investment asset in their portfolio, but they neglect to incorporate it into their overall financial plan. That can be a big mistake. “People lament over selling their home; they don’t make very good decisions out of desperation or when there are high emotions involved,” says Robert Stammers, director of investor education at the CFA Institute.

Many people find they have to somehow monetize the equity in their home to live for 25 or 30 years in retirement. That’s because Social Security now replaces a smaller share of what you earned while working and 401(k) retirement plans typically provide less income than the employer pensions they replaced, and the income they provide is less secure.

Here are some talking points for homeowners who struggling with the decision to downsize to an apartment in Raleigh, NC.

When should you sell? Every asset in your portfolio should have a role—even your home. Maybe it’s your place to live until you become an empty nester, and at that point you’ll downsize and have a source of dollars for your investment portfolio. Maybe you’ll keep it until your 70s or 80s, putting off downsizing until your health demands it. Maybe you want to plan to live there and then transfer it to your heirs. Whatever your wish, talk it through with your family and your financial advisor.

Cut your real estate exposure. If half your net worth is in your home, a quarter in stocks and a quarter in bonds, you’ve got a significant exposure to the real estate market. Your home is an asset and it should be considered as part of your overall investment portfolio. If it doesn’t make sense to have that much real estate exposure, downsize, move to an apartment and reinvest it in a balanced investment portfolio.

Is downsizing cost effective? For downsizing to pay off, try a move that saves you at least 25% on your total expenses: mortgage payments and real estate taxes. Calculate all the one-time costs too: transfer taxes, real estate commissions, attorney’s fees, movers. People overestimate the value of their home if they’re selling, and they underestimate the total cost of a new home. Be sure you are considering upkeep and property taxes.

For more information on 2 bedroom apartments in Raleigh, NC contact Auston Grove.

Excerpts - Forbes

Consider Renting an Apartment in Raleigh, NC in Retirement

Joseph Coupal - Thursday, January 21, 2016

If you assume it’s better to own your home once you retire, you may want to consider the alternative. Renting an apartment in Raleigh, NC can be a better choice, depending on your circumstances and goals.

Just over 80 percent of American householders age 65 and older own their homes. Many retirees want to stay close to friends and family and prefer the stability of home ownership. Others hope to see home values rise before selling, or plan to take out a reverse mortgage.

Renting offers its own benefits:

  • Flexibility. Many retirees plan to relocate at some point, perhaps to be closer to family members in other cities, or just to enjoy a different part of the country, perhaps with more sunshine and golf courses. If you’re not ready to move yet, you may simplify matters by selling your home now and moving into an apartment locally. When you are ready to make the big move it will be much simpler, as you have already sold your house. On the other end, when you do move you may want to rent an apartment in the new city to make sure you are happy living there before making it permanent.
  • Simplicity. Owning a home comes with lots of responsibilities, from mowing the lawn and shoveling snow from the sidewalk to painting the exterior and replacing the roof. Some folks want to keep doing those things as long as they are physically able, but if you’re tired of the time and expense, renting frees you from all of these tasks.
  • Liquidity. From a financial standpoint, renting vs. owning can be a complex question involving taxes and other long-term issues, so it’s a good idea to discuss it with a financial adviser. In general, renting can be a good alternative to having much of your retirement savings tied up in a house. At the same time, you eliminate all the costs of home ownership such as maintenance and property taxes. A bonus advantage is that you will no longer be carrying that large mortgage debt.

If you are considering downsizing, it may pay to look into renting vs. owning, especially if you’re not sure how long you will stay in a new location. You don’t want to pay closing costs to buy a new home and then move again in two to three years. At any rate, these issues should be resolved within the context of your overall financial plan.

For more information on 2 bedroom apartments in Raleigh, NC contact Auston Grove.

Excerpts - New Haven Register

Best Cities for Young Entrepreneurs - Raleigh, NC

Joseph Coupal - Tuesday, January 12, 2016

Young entrepreneurs hoping to strike startup gold have a lot to take into consideration, and which U.S. city will provide the friendliest environment and the best shot at success for their new venture should absolutely be on the list.

To determine the best cities for young entrepreneurs, personal finance site NerdWallet looked at cities across the country and measured factors including access to funding, opportunities for networking and mentorship, the local economy, and cost of living.

To assess how easy it is to get your startup funded, NerdWallet reviewed the dollar value of small business loans–commercial and industrial loans under $250,000–in each city, loaned per capita by banks with less than $10 billion in total assets, during 2013.

Networking and mentorship opportunities were gauged by determining the number of businesses per 100 residents in a city and its surrounding metro area, the percentage of residents age 25 to 34, and the percentage of the population over age 25 with a bachelor’s degree or greater certification.

Local economies were evaluated based on a city’s per capita income and unemployment rate, and cost of living was used as a measure of a city’s affordability.

When young would-be entrepreneurs are taking the many factors associated with launching a business into consideration, geography should absolutely be among them.

One thing that people don’t necessarily think about too much, at least compared to the business idea itself and getting it running, is where to get the business running. Ultimately, that’s a factor that could affect the success of a small business, so that’s what we’re really trying to get at here. Some of these cities you don’t necessarily think about when you think ‘small business’ or ‘entrepreneurship,’ and it’s important to look at where small local economies are that are conducive to entrepreneurship.

  • No. 12 Raleigh, North Carolina
  • No. 18 Durham, North Carolina

For more information on apartments in Raleigh, NC, contact Auston Grove.


Making the Right Move to an Apartment in Retirement - Raleigh, NC

Joseph Coupal - Wednesday, January 06, 2016

You may have decided to relocate in retirement, which might mean crossing state lines or just downsizing from a house to an apartment in Raleigh, NC. As you’ll soon discover, such moves are more complicated than just selling one piece of real estate and renting another.

First of all, you need to choose your new home with care:

  • Location. Do you want to move across town or across the country? Closer to relatives–or farther away from them?
  • Dwelling type. You may be ready to move from a large house with a sizable lawn to a smaller house that needs less care. Or you may prefer an apartment, which requires even less upkeep.
  • Ownership. You can buy your new home or rent an apartment. Buying may make sense if you itemize tax deductions and plan to take out a mortgage. If that’s not the case, renting gives you more flexibility.
  • Environment. You need to decide if your ideal retirement home is in a bustling city, a lower-key suburb, or a quiet small town. Do you prefer warm winters or snowy ski trails? A home on the water? A planned retirement community may have advantages, too, such as organized activities and custodial care facilities.
  • Favored pursuits. There will be activities you hope to engage in during retirement, and your new home should be able to provide you with easy access. You don’t want to have to spend too much time getting to them, which would discourage you from making the effort.
  • Transportation. In most places you’ll still need a car after you retire, so check into parking, local traffic, quality of access roads, and so on. If you’re unable or unwilling to do much driving, an apartment near public transportation is one alternative; another is to find a complex that provides local shuttle service to shops, movies, professional offices, and other popular destinations.

Whatever your choices, don’t act hastily. Do preliminary research by vacationing in a likely area, talking to the residents, and reading the local papers.

For more information on 2-bedroom apartments in Raleigh, NC contact Auston Grove Apartment Homes.


Best Cities to Work In – Raleigh, NC

Joseph Coupal - Monday, December 28, 2015

Last month, Forbes reported on salary comparison site Glassdoor’s annual top cities for jobs list, finding that small and mid-size cities are providing some of the best opportunities to job seekers right now.

Many small and mid-size cities offer good economic value today.

As part of determining the top cities for jobs, they considered job satisfaction ratings for employees in those metros, drawing on 1,000 plus reviews per metropolitan area on Glassdoor over the past 12 months shared by employees in the 50 largest U.S. metros.

Which cities are not only providing great opportunities but keeping their current employees happy as well?

No. 10 Raleigh-Durham, North Carolina

Raleigh is known as the City of Oaks for its many oak trees. The capital city is part of North Carolina’s Research Triangle, one of the country’s largest and most successful research parks and a major center in the U.S. for high-tech and biotech research.

The surrounding area is home to a number of colleges and universities including Duke University, North Carolina State, University of North Carolina at Chapel Hill and Wake Forest University. These schools have a notable economic impact on the area.

The North Carolina Museum of Art, occupying a large suburban campus on Blue Ridge Road near the North Carolina State Fairgrounds, maintains one of the premier public art collections located between Washington, D.C. and Atlanta.

If you are interested in a  city that is providing great opportunities and keeping their current employees happy as well, check out the Raleigh Durham area. For information on apartments in Raleigh, NC, contact Auston Grove.


Holiday Greetings From Auston Grove - Raleigh, NC

Joseph Coupal - Monday, December 21, 2015

This week's blog message is very simple. All of us here at Auston Grove Apartment Homes wish you and your family the warmest of Holiday greetings and sincere thanks for your continued trust in us.  Your trust and continued partnership with us is nothing short of a blessing and it is truly something we celebrate.  We offer you all this sincere thanks and pledge to you that we will never tire in our efforts to steadily increase the value of our service to you.  Happy Holidays and have a safe and healthy New Year!


Raleigh, NC is One of the Best Cities for Renters

Joseph Coupal - Monday, December 14, 2015

It has been nearly four years since housing prices bottomed out nationwide. Since then, the fortunes of homeowners and renters alike have been mixed across a wide spectrum depending on where they live, according to a report by Trulia recently.

Recovery in housing markets across the country has varied widely when other factors enter the equation, such as how much economic growth the area has seen (particularly in employment and wages) and how much housing prices have appreciated. Based on those factors, housing in some metros over the last four years has recovered more quickly driven by substantial economic growth, while housing has been slow to recover in some metros based on sluggish economic growth. Some metros have even seen slow recovery in housing and booming employment or vice versa.

Based on Trulia’s number crunching that figured in house prices, job prospects, wages, vacancy rates, home values, and amount of rent increase to determine what are the best housing markets for both renting and buying. What they discovered was that cities in North Carolina are strong for renters since 2012 due to strong economic gains.

North Carolina is a great area for renting since 2012—because of strong wage growth and modest rent increases in the last three years. Two North Carolina cities, Charlotte and Raleigh, are in both the top 10 for renting. Compared with other cities that have seen steep drops in unemployment and rising wages in the last three years, the burdens of increasing rental prices and declining vacancy rates in Charlotte and Raleigh have been fairly forgiving.

For more information on apartments in Raleigh, NC, contact Auston Grove.


Relocating to Raleigh, NC? Consider Auston Grove

Joseph Coupal - Tuesday, December 08, 2015

If you are relocating to Raleigh NC, you are in luck. This is one of the best cities in the South. Raleigh offers a great climate with warm summers and mild winters. There is plenty to do with both mountains and beaches all within reach. You can hike, relax in the sun or enjoy city life  when you move to Raleigh.

Raleigh is called the "City of Oaks." Great college sports teams with NC State, Duke, and the Carolina Tar Heels make for fun sporting events and tailgating. But Raleigh offers professional sports teams too, this is the best year to be a Carolina Panthers fan and we have our own NHL team as well, the Carolina Hurricanes. Downtown Raleigh offers night clubs, dance clubs, and bars, as well as fantastic restaurants. There are many things to see and do and there is a free hybrid electric bus service that can bring you all over town for museums, dining, and shopping.

No matter what you like to do, you will love Raleigh and Auston Grove Apartment Homes. Auston Grove is a beautiful apartment community located in Raleigh, NC. The  one, two, and three bedroom apartments offer open and spacious living areas, 9-foot ceilings, and crown molding. Savor the weekends for family, fun and relaxation by spend the day by the swimming pool, cooking out on the grills, use the fitness center, or the business center.

The mountains are a few hours west and the ocean a few hours east for great weekend trips and the Raleigh has so much to offer. For more information on apartments in Raleigh, NC, contact Auston Grove Apartments.


Raleigh, NC is a Great Place To Live and Rent

Joseph Coupal - Wednesday, December 02, 2015

Raleigh, NC has a lot to offer. If you are considering relocating for work, school, retirement, or just for a new start, consider renting an apartments in Raleigh, NC and see for yourself why this is a top-rated city in so many areas.

  • #1 Among Best Places to Live in America (Apex) - MONEY Magazine, August 2015
  • #3 Among Best Cities to Work - Economic Environment (Raleigh MSA) - WalletHub, May 2015
  • #10 Among Best Cities to Work - Small Business Environment (Raleigh MSA) - WalletHub, May 2015
  • #2 Among Best Large Cities to Live in (Raleigh) - WalletHub, August 2015
  • Among Top 100 Cities on Twitter (Greater Raleigh CVB) - Encore Alert, June 2015
  • Among Cities to Watch in 2015 (Raleigh) - Urbanful, January 2015
  • #2 Among The Fastest-Growing Minority Cities in America for Hispanics (Raleigh) - Brookings Institution, January 2015
  • #2 Among The Fastest-Growing Minority Cities in America for Asians (Raleigh) - Brookings Institution, January 2015
  • #6 Among The Fastest-Growing Minority Cities in America for Blacks (Raleigh) - Brookings Institution, January 2015
  • #2 Among Top 10 Music Cities Other Than Nashville (Raleigh) - Music From The Row, July 2015
  • Among the 20 Best State Fairs in America (N.C. State Fair, Raleigh) - Vacations Made Easy, July 2015
  • #2 Among the Next Top 10 Cities for Tech Jobs (Raleigh) - Fast Company, July 2015
  • #1 Among Mid-Sized American Cities of the Future (Raleigh) - The Financial Times, April 2015
  • Among 2015 Award of Excellence Winners (Greater Raleigh CVB) - Corporate & Incentive Travel, April 2015
  • #2 Among the Cities Creating The Most Tech Jobs (Raleigh) - Forbes, April 2015
  • Among 29 Cities All Twentysomethings Should Pick Up and Move To (Raleigh) - BuzzFeed, March 2015
  • Among World's 300 Largest Metropolitan Economies in 2014 (Raleigh) - Brookings Institution, January 2015
  • Among 17 Most Underrated American Cities (Raleigh) - Urban Insider, July 2015
  • #4 Among the Best Places to Drink Coffee in 2015 (Joule Coffee & Table, Raleigh) - GQ, June 2015
  • 2015 U.S. Chamber of Commerce Dream Big Small Business of the Year (Triangle Rock Club, Morrisville) - June 2015
  • #3 Among 12 Music Festivals You Should Actually Attend This Summer (Hopscotch, Raleigh) - The Huffington Post, May 2015
  • Among Five LGBT Travel Picks for 2015 (Raleigh) - Metro Weekly, March 2015
  • Second place in the U.S. Brewers Cup Championship (Slingshot Coffee Co., Raleigh) - February 2015
  • Among 2015 Most Romantic Restaurants in America (Second Empire Restaurant & Tavern, Raleigh) - OpenTable, February 2015
  • Among Five American Cities You Should Visit in 2015 (Raleigh) - The Huffington Post, February 2015
  • #3 Among Best Metro Areas for STEM (Science, Technology, Engineering and Math) Professionals (Raleigh MSA) - WalletHub, January 2015
  • Among America's 100 Best Beer Bars 2015 (Busy Bee Cafe, Raleigh) - Draft, January 2015
  • Among America's 100 Best Beer Bars 2015 (Raleigh Times Bar, Raleigh) - Draft, January 2015
  • Among 100 Best Restaurants for Foodies in America (Garland, Raleigh) - OpenTable, September 2015
  • #5 Among Best Local Food Scene (Raleigh) - USA TODAY and 10Best's Readers' Choice, August 2015

If this doesn’t want to make you relocate here, come check us out. or more information on apartments in Raleigh, NC contact Auston Grove Apartments.