Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610
Call: 866-220-3907 Email UsAustonGrove.PropertySite.HHHunt@aptleasing.info View Map

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

$800-$1250

Apartments Raleigh NC Blog

North Carolina is One of America’s Cheapest States to Live – Raleigh, NC

North Carolina is One of America’s Cheapest States to Live – Raleigh, NC

Joseph Coupal - Tuesday, April 25, 2017

Auston Grove, Raleigh, NCCNBC scored all 50 states on more than 60 measures of competitiveness, developed with input from a broad and diverse array of business and policy experts, official government sources, the CNBC Global CFO Council and the states themselves. States receive points based on their rankings in each metric. Then we separate those metrics into 10 broad categories, weighted based on how frequently each is used as a selling point in state economic development marketing materials. That way, our study ranks the states based on the criteria they use to sell themselves.

Cost of living is one of the key categories of competitiveness, worth a possible 75 points toward a state's overall Top States score.

This year some states were tied. But Virginia ranked high on the list .

#5 Virginia

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

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CNBC


Should You Buy or Rent in Retirement? – Raleigh, NC

Should You Buy or Rent in Retirement? – Raleigh, NC

Joseph Coupal - Tuesday, April 18, 2017

Auston Grove, Raleigh, NCNationwide, it usually makes more financial sense to buy a home than rent. But it's a little more complicated for those in their golden years.

Retirees also need to decide whether they want to leave an inheritance behind -- a key factor in the rent vs. buy decision.

If a retiree does not plan to pass the home on to heirs, it's nearly always cheaper to rent than to buy, according to a report from Trulia.

That's because building equity is one of the biggest factors that favors purchasing a home. But if there are no plans to leave the home behind, or buy another home, it usually makes more financial sense to rent.

The value of that equity matters a lot when making the decision. If you don't care whether that value will be around when the house is sold, it might be a better deal to rent.

Out of the 100 cities with the highest population of people 65 and older, renting made more financial sense in 98 of the cities, for those not considering leaving the home equity as inheritance.

To calculate the savings of buying versus renting in retirement, Trulia assumed buyers were in a 15% tax bracket and would stay in the home for 15 years. For more information on renting an apartment in Raleigh, NC contact Auston Grove.

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CNN-Money


4 Reasons to Rent - Raleigh, NC

4 Reasons to Rent - Raleigh, NC

Joseph Coupal - Thursday, April 13, 2017

Auston Grove, Raleigh, 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 Raleigh, NC, contact Auston Grove.

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The Motley Fool


It is Cheaper to Rent than Own in Raleigh, NC

It is Cheaper to Rent than Own in Raleigh, NC

Joseph Coupal - Tuesday, April 04, 2017

Auston Grove, Raleigh, NCOwning 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 thosefinancial 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: North Carolina
Homeownership Premium: 49%
Median Monthly Cost to Own: $1234
Median Monthly Cost to Rent: $827
Difference: $407

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

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NerdWallet



Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610

Call: 866-220-3907
Email UsAustonGrove.PropertySite.HHHunt@aptleasing.info
View Map

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

$800-$1250