Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610
Call: 866-220-3907 Email UsAustonGrove001@myLTSMail.com View Map

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

$800-$1250

Apartments Raleigh NC Blog

Should You Keep Renting in Raleigh, NC?

Should You Keep Renting in Raleigh, NC?

Joseph Coupal - Thursday, February 02, 2017

Auston Grove apartments, Raleigh, NCIf you have been thinking about buying your first home, making the leap from renting to owning requires some decision making. The perks of homeownership are both financial and emotional.  Owning your own home is a big responsibility.

The timing of the decision to buy a first home is different for each of us.

If you are considering moving from renting to owning here are five questions you can ask yourself to determine if you are ready to own a home.

1. Am I financial ready to own a home?

Clearly, it takes a significant financial commitment to buy a home. The minimum down payment is typically 5% of the cost of the home you are buying. In addition you can add another 2 to 3 percent to cover the closing costs associated with buying a house.

Another important factor is you credit history. To qualify for a mortgage you should have as minimum a credit score of 620 but to obtain a competitive interest rate your credit score should be above 700. Credit is a privilege you earn by practicing good credit habits.

For many young buyers a big challenge is their debt-to-income ratio. Mortgage lenders demand borrowers have certain levels of monthly cash flow which means they carefully look at how much you are paying to other lenders, including student debt. How much you pay lenders each month is divided by your gross monthly income and the rule of thumb is this should be below 36 percent. A debt-to-income ratio of up to 40 to 43 percent may be considered acceptable by some lenders, but it really should not be over 33%. When preparing to apply for a mortgage you want to pay off or down your credit card balances.

2. Am I emotionally prepared to own a home?

Let's be honest, renting does not require much emotional thought. If the rent goes up, you can move. If something breaks you call the landlord. Owning a home is means you are "all in." When the kitchen sinks springs a leak, you have to fix it or find someone who can. If your home is part of a Home Owners Association and they increase the dues you have to deal with it. These kinds of situations can strain your mental and emotional capability, especially if you don’t have financial flexibility. Managing stress and having problem solving skills is important for first time home buyers.

3. Can I compromise when selecting my dream home?

This sounds silly, but more often than not first time buyers have a very strong mental picture of the home they want to buy and reality of the market is different.  There are always compromises buyers must be prepared to make.

It is not an easy decision and it is not only a financial decision. For more information on renting an apartment in Raleigh, NC, contact Auston Grove Apartments.

#HowYouLive
rocklintoday.com


The Benefits of Living in Apartments with a Family – Raleigh, NC

The Benefits of Living in Apartments with a Family – Raleigh, NC

Joseph Coupal - Tuesday, January 24, 2017

Auston Grove apartments in Raleigh, NCHere are a collection of perspectives from renters with families on their experiences with the benefits to living in an apartment. This is what apartment dwellers with children do to make it work for them.

Family Time Abounds

There are several advantages to living in an apartment with school age kids. The biggest one was the fact that without the upkeep of a house, there is so much more extra time to spend quality and quantity time with the kids. Also, because there is no space to stash a lot of items, so you spend less money. If you don’t pay for a storage space, you must always consider where an item would fit before a purchase. Finally, the complex can have several amenities, including a pool, a playground, and an exercise facility. Therefore, there is easy access to free entertainment, which is something that every parent of a young child appreciates.

More Resources for Children

Cities often have wonderful resources for children that are not so easy to find in a small town. Search out the city's library. It will most likely have wonderful programs for children, such as "story times." This also gives the parent a chance to meet other parents who have young children and to make new friends.

A Quick Call to Maintenance

With young kids you can really appreciated the security of living in an apartment complex. If there was a plumbing problem or a broken appliance, a phone call took care of everything. You develop relationships with the management and maintenance staff, as well as our neighbors.

The Benefits of Cultural Diversity

There are a lot of advantages to city apartment dwelling.

  • No lawn care or housing repair costs
  • Extensive public transportation with no real need for a vehicle
  • Cheap and free cultural activities abound.
  • Cities tend to attract colleges, which mean free or cheap college events, babysitters, and adult evening classes.
  • In a city situation, you have neighborhoods. Visiting them is a great way to experience new foods and cultures without going far.
  • Ethnic neighborhoods sprout ethnic groceries as well, which tend to be cheaper on certain items.

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

#HowYouLive

stretcher.com


The American Dream of Homeownership is Changing - Raleigh, NC

The American Dream of Homeownership is Changing - Raleigh, NC

Joseph Coupal - Wednesday, January 18, 2017

Auston Grove in Ralegh, NCAmerica is changing the way it lives. Owning one's home has always been considered a significant part of the modern American dream — it meant pride and security, control, stability and goodbye to landlords.

It still does, but times change and there are signs that the dream of owning a home may be changing as well.

The ‘bubble’

The Great Recession, which began in late 2007 and lasted for nearly two years, is still having an impact on the U.S. housing market. Since the bottom dropped out a decade ago, "new home starts" — used to describe when construction begins on a new home — have been sluggish.

That was until October, when they hit a nine-year high, then dropped in November, suggesting Americans are confused about where and how they want to live.

This housing bubble was a main cause of the Great Recession.

For potential homebuyers, it has become a lot harder to get the credit necessary to buy a house. Plus, there's more paperwork when consumers do qualify.

That leads to a depressed market. Another issue: a lack of inventory.

Diploma vs. mortgage

Lurking in the background of less new construction is the renting vs. buying issue.

Renting is becoming increasingly attractive because many people just don't have the money to buy.

There's not enough income to allow people to get into housing.

Zillow predicts that millennials will eventually be in a financial position to buy, and will boost home ownership. At the same time, Zillow says, renting will become more affordable as incomes rise and growth in rents slows.

One of the biggest reasons that young Americans are waiting to buy their first home is student debt. Millennials, who used to be considered the prime homebuying age, are carrying an estimated $1 trillion in student loan.

The problem is, the kids are coming out of school with a tremendous amount of student loan debt. It's like a drag on their finances. Student loans is money that could be going toward the mortgage. I think it's kind of delaying the process.

The under-35 generation are buying nice cars, they're going out to dinner, and they're staying in apartments. And they're moving around a lot more with their jobs. They are a lot more mobile.

A cautious market

Ten years ago, the national percentage of households renting was about 30 percent; today, it's about 37 percent. Each percentage point nationally is about 1 million households.

Rentals are also attractive because renters are spared the worry of potentially plummeting home values.

We ought to be making rental housing much more respectable, whether in urban or suburban areas. Our whole society ought to get away from the fixation of ownership as the only way to go. It's not the only way to go. Ownership is not for everybody; it takes a certain income, budgetary discipline and a steady income.

Many Americans learned from the recession that investing in home ownership is not a sure way to build wealth.

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

#HowYouLive
voanews.com


Should Millennials Buy Homes? Maybe Not – Raleigh, NC

Should Millennials Buy Homes? Maybe Not – Raleigh, NC

Joseph Coupal - Wednesday, January 11, 2017

Auston Grove Apartments, Raleigh, NCAs the old saying goes, landlords get rich and renters stay poor. But this may not be true anymore.

On the other side of the debate are housing experts who have told The Wall Street Journal that, in the shadow of the Great Recession, the stigma of renting has faded.

It used to be that if you were an adult and didn’t own your own home, you were kind of a bum— but that image has been “blown into a million pieces.”

In an era of stagnant wages, tepid job growth and soaring student debt, just 35 percent of Americans under age 35 owned their homes in the third quarter of 2016.

Should you rent or own your home? It’s an age-old question that doesn’t always yield a straight answer.

The unsatisfying advice: It’s complicated. Perhaps the most important factor in the rent-vs-buy calculus is how long you plan to stay in one place.

The five-year rule: In general, housing experts say, if you plan to live in a property for less than five years, you’re wiser to rent. That’s because expenses such as closing costs and real estate commissions wipe out the modest appreciation you enjoy. If you’re going to stay for 10 years, you’ll almost certainly gain by owning.

Here’s a partial list of the cons of homeownership:

Con: You’re responsible for property taxes and insurance.

When you rent, those expenses are part of your monthly payment, and your landlord worries about them. While Florida’s property taxes are modest compared to other states, you can expect to pay about 2 percent of the value of your home every year.

Con: You’re on the hook for repairs.

Kitchens and bathrooms don’t last forever, and a kitchen redo can run into the tens of thousands of dollars. Roofs, windows and air conditioners wear out over time. Replacing these costs thousands of dollars. Appliances break, and you’re on the hook for them, too. If you’re a renter, maintenance is the landlord’s problem.

Con: Owning makes you less mobile.

If you’re tied down by a property here, you might not grab that lucrative job offer somewhere else.

Con: The financial benefits of owning are real, but they’re often overstated.

Here is a sobering example of paying $1,500 a month in rent for 30 years. You’ll blow $540,000 with nothing to show for it. How much will you have if you buy? Here’s a very rough example, with no adjustments for inflation and appreciation: Say you take the same $1,500 a month and apply it to a $250,000 house, with a $200,000 mortgage at 4.25 percent. You’ll spend $984 a month on principal and interest, and the other $516 a month might (or might not) cover property taxes, insurance, lawn care, pest control, the occasional pressure cleaning and those inevitable visits by plumbers, electricians and carpenters. Over the 30-year life of the mortgage, you’ll replace the roof twice, the AC twice, repaint the house three times, buy enough replacement appliances to fill a small warehouse, and you’ll renovate the kitchen and bathrooms, all of which’ll cost you $100,000. And don’t forget that $50,000 down payment you made back when you were young. You will have paid the same $540,000 over 30 years, and you’ll have a net gain of $100,000 to show for it. Not bad, but certainly not hedge fund money.

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

#HowYouLive
Real Time


Happy New Year 2017 from Auston Grove Apartments in Raleigh, NC!

Happy New Year 2017 from Auston Grove Apartments in Raleigh, NC!

Joseph Coupal - Thursday, January 05, 2017

Auston Grove  Apartments in Raleigh, NCA fresh new year has arrived once again. It’s the time to be thankful for everything we have and for everything we have achieved in the past year. But it is also time to start new, start strong, and accomplish everything we want to do this year.

It is also time for us to say “Thank You” for our success last year. If you are an existing associate, we have enjoyed working with you. If we are just embarking on a new relationship with you in 2017, we look forward to the opportunity. We are excited for what we all can achieve in 2017.

The New Year stands before us, like a chapter in a book, waiting to be written. We can help write that story by setting goals. – Melody Beattie

Happy New Year from Auston Grove  Apartments in Raleigh, NC!

#HowYouLive 


If You Rent, Get Renter’s Insurance - Raleigh, NC

If You Rent, Get Renter’s Insurance - Raleigh, NC

Joseph Coupal - Wednesday, December 28, 2016

Auston Grove Apartments in Raleigh, NCA common idea when renting an apartment in Raleigh, NC is that you don’t need renters insurance because, well, you’re renting. Nothing could be further from the truth. If you are renting, you need renters insurance whether you are a college student getting your first apartment or a college graduate moving to a more sophisticated pad.

So what is renters insurance and why do I need it?

Rental insurance is basically coverage of damages to personal possessions. It covers everything that you own such as furniture, clothes, electronic devices, books — you name it. It also provides liability protection if someone is injured in your place and wants to hold you responsible for the incident.

For example, if your apartment burns down and your roommate suffers second-degree burns, then renters insurance (the liability coverage part) will protect you from liability, having to pay out of pocket for his injuries. Another example is if your dog bites the postman and he chooses to sue you for injuries, renters insurance will cover the medical costs and the court costs. Additionally, if your home is unusable for a certain time, most forms of renters insurance will provide funding for you to stay in a temporary place that is at least comparable, in some cases better, than your current apartment.

Well, you might be saying my landlord has insurance on the apartment, why should I get it on my own? The insurance your landlord buys only covers the apartment building which is the just the physical building structure. It does not include any of your personal belongings.

What will it cover?

STUFF: As mentioned above, renters insurance covers most of your personal belongings in the event of fire, theft, vandalism, and water damage. However, most renters insurance companies do not cover damage from more severe events such as earthquakes, flooding, landslides and so forth. You may need to check for a separate policy or an add-on to your insurance policy if you live in a part of the country in which such weather is prone to happen.

LIVING: If something were to happen to your apartment that made it completely unfit to live in, then renters insurance would cover any expenses incurred with moving to another place including certain bills at least for a reasonable time and in some cases, the cost of food and travel expenses.

LIABILITY: Negligence resulting in an accident to someone else physically or to property is covered by renters insurance.

What’s the cost? And where do I get it?

On average, renters insurance policies cover anywhere from $25,000 to $55,000 for apartments and upwards of $100,00 for homes. The first question you want to ask yourself is how much does your stuff cost. Make an itemized list of every important thing in your apartment — furniture, electronics, clothes, and any other personal items of worth. Second, take pictures or record video of everything so that if you don’t know the price, you can search for the item by photo or video and find the same or similar pricing. Take this list to your insurance agency and together you can determine how much coverage you need.

Insurance prices as well as liability limits vary by state. You can start by communicating with the agent who insures your vehicle and check for a bundle package. This will keep all your insurance in one place and give you a much lower cost per month. Almost all major insurance companies provide renters insurance. A basic policy should cost anywhere from $20 to $30 a month and that’s not a whole lot.

Think of renters insurance like a plan B. You may never even get to use it, but the pennies for peace of mind is simply smart and worth it.

#HowYouLive

ULOOP


Happy Holidays from Auston Grove Apartments in Raleigh, NC

Happy Holidays from Auston Grove Apartments in Raleigh, NC

Joseph Coupal - Tuesday, December 20, 2016

Auston Grove Apartments in Raleigh, NCIt is once again "end-of-year" blog post reflection time.  If you are reading this blog post, you care enough about us and our business to invest a minute or two reading here.  That means a lot to us.  The primary reason for this blog is to educate and inform our readers; as an ongoing act of giving thanks for the privilege of earning your continued trust and continued professional partnerships. So we're glad you're here.

We reflect today on the blessings that so many of you bring to both our personal and professional lives. Over the course of 2016, we hope that we have made a difference in many personal and professional lives. This is the true essence and a key measure of professional reward and business success.

It is our sincere wish that all of you bask in the joy of reflection and within the warm confines of family and friends throughout this Holiday season and throughout 2017. Cheers!

Happy Holidays!

-from all of us here a Auston Grove Apartments in Raleigh, NC.

#HowYouLive 


Renting is Becoming the Better Option in Many Cities - Raleigh, NC

Renting is Becoming the Better Option in Many Cities - Raleigh, NC

Joseph Coupal - Thursday, December 15, 2016

Auston Grove Apartments, Raleigh, NCMillennials fretting over the high costs of buying a first home, fear no more: renting may be the better financial option anyway.

A new report shows the growth of home prices is outpacing that of rents across many major metropolitan areas in the United States, which could be yet another factor decreasing the country’s historically low rate of homeownership.

The Wall Street Journal reported a just released third-quarter housing index that compares housing prices and rents in 23 major cities.

Of all 23, the Journal reported, homes were becoming more expensive faster than rents were rising. Nationwide, the cost of buying a home spiked 5.5 percent year-over-year September, while rents jumped only 3 percent.

That trend doesn’t appear to be headed for a change in the near future, either: developers are about to deliver one of the largest influx of apartments in history— a supply boom that will likely keep rent growth at a moderate rate.

Meanwhile, the rising home costs have showed no sign of stopping, even as brokers call for sellers to moderate their expectations and lower asking prices.

The trend has also brought the nation as a whole closer to the tipping point for being renter friendly.

Cities where buying is still the better option, according to the Journal: Atlanta, Boston, Chicago, Cleveland, Los Angeles, New York and Philadelphia. [Wall Street Journal].

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

#HowYouLive
therealdeal.com


More Boomers are Renting Apartments – Raleigh, NC

More Boomers are Renting Apartments – Raleigh, NC

Joseph Coupal - Wednesday, December 07, 2016

Auston Grove Apartments, Raleigh, NCBaby boomers are altering the American Dream.

After having the home in the suburbs, the kids, the two cars, and maybe even the picket fence, a growing number now want to ride elevators to rental apartments and walk out the door to restaurants. When the kids are grown, an increasing number of empty nesters are selling homes and aspiring to live like urban millennials — in rental buildings full of amenities and free of lawn mowing, shoveling, mortgages and property taxes.

It's not unusual for empty nesters to consider downsizing and avoiding tasks such as yard work. But typically downsizing has meant buying smaller homes or condos. Now, for a generation with a reputation for setting trends and yearning for freedom, an increasing number want to rent rather than own.

“It's nice to have freedom," said one man, who moved into an apartment with his wife after selling their home about three years ago. He now walks to work, and his wife says she feels like she's on vacation every day. Apartment living frees up time spent on maintenance and they walk to restaurants, plays, movies and musical events.

"We both feel like we are in our 20s."

The number of boomer renters is still small. But there were just 10 million in their 50s and 60s in 2005, and in 2015 there were 15 million. They account for more than half of the nation's renter growth in the last 10 years.

It is a "dramatic increase," and a trend that's likely to continue as the giant generation of 77 million people, born between 1946 and 1964, ages and seeks easy living.

At a National Multifamily Housing Conference, "landlord after landlord mentioning the surprising surge in older renters." Many of the boomers have sold homes and have been looking for luxury apartments in walking distance to stores and entertainment.

In many metro areas, older renters are driving demand. There is an increase in people "who don't see their primary residence as an investment" and don't want their retirement money tied up in a home.

Renting is a unique twist for many boomers, who began their adult lives when the sheer size of their generation starting households drove a sharp climb in home prices in the '70s and '80s. For years many assumed renting was a waste of money and a home an essential investment. But after living through the recent housing crash, that assumption has been tarnished and renting now seems fine.

You aren't going to get equity quickly any longer. As empty nesters, couples can sell their three-bedroom home and renting can be a short-term experiment that would allow them to move easily, and without selling costs, if they changed their minds. Many have no urge to move.

Homeownership among people 50 to 64 slipped 5 percentage points between 2005 and 2013. Part was driven by foreclosures and job loss in the recession. Others are transitioning to renting as a choice. They want "cost-effective options that demand less time, physical effort and money to maintain." As people enter their 70s, it is expected that the desire for ease and safety will intensify.

The combination of 8 million foreclosures and a 10 percent unemployment rate during the housing crash and Great Recession sparked a surge in rentals among all age groups during the last few years. There are 19 million renters who previously owned homes. But older boomers were not as hard-hit in the housing crash as people ages 36 to 55, because people in their 50s and 60s tended to have purchased homes before the housing peak and therefore had more equity to absorb losses.

The interest in potential boomer renters is coming from developers seeing opportunity in the luxury market.

Boomer parents are also being tempted to rent as they see the housing their children are considering in new luxury buildings.

"They see the light and the view, and they are jealous," said one developer. "They want a vibrant life" instead of isolation in empty homes in quiet suburban neighborhoods. "They are busy with their phones and iPads, and can live in a new building for less than a mortgage and stop writing checks to the handyman and the landscaper. They don't have to worry about the snow."

Although luxury buildings have been especially popular with empty nesters craving activity, boomers are also renting near suburban areas where they raised families. They want to continue ties with churches and communities.

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

#HowYouLive
Chicago Tribune


Young Professionals Are Choosing to Rent Instead of Buy - Raliegh, NC

Young Professionals Are Choosing to Rent Instead of Buy - Raliegh, NC

Joseph Coupal - Tuesday, November 29, 2016

Auston Grove Apartments, Raleigh, NCHome ownership has reached a five-decade low due in part to the fact that millennials have historically low ownership rates compared to other generations at that age.

Home ownership has always been a part of the American dream. So why aren’t more millennials willing to purchase a place to call home? Should they purchase homes or is it smarter for them to rent? There are several factors to consider.

The Relocation Factor

After the housing crash of 2007, many millennials began to realize home ownership may not be quite the American dream as it has long been touted by realtors and organizations who encourage home ownership.

In fact, home-buying may not be a good idea for the vast majority of millennials – at least not right now.

Not only does it represent a huge financial risk, but it ties you down to a specific area – which may not be very convenient if a higher paying job which required relocation came calling.

For those who want to focus on establishing their careers, some experts highly recommend renting.

Another expert doesn’t think there is a “correct” answer, it depends on each millennial’s individual circumstances.

How long do you plan on staying in the area or in this particular home?  Except in rare cases where you’d be buying into a rapidly appreciating market, or you’re renovating a total fixer-upper, if you don’t plan on staying more than a minimum of 2-3 years, it probably makes more sense for you to rent.

The Debt Factor

While some millennials may not want to purchase a home, many simply are not able to because of debt. Lingering debt and financial worries play a critical role in the home-buying decision.

Despite millennials’ well-publicized low rate of homeownership, our index found 76 percent feel being able to save for a home remains important to achieving an ideal home life – but only 37 percent feel satisfied in their ability to save.

Any millennials who are thinking about purchasing a home will need to understand and then start building their credit score so they can qualify for a mortgage when the time comes.

Perceived job security is another contributing factor. And financially speaking, one needs ample money for a down payment, pre-paid items at a closing like property taxes, and also insurance and renovations.

Even if you have a stable income, your home shouldn’t eat up all of your money.

If it would take every penny of your savings to make a down payment on a home, and you’re not certain of your ability to replenish that in the future, you may want to factor that into your decision.

There are many loan programs out there that can help first-time home buyers with down payment assistance, or that don’t require a severed arm and leg in order to get a mortgage. But millennials should also consider their comfort level with the final estimate.

A home is a huge purchase and demands substantial responsibility in terms of monthly payments and ongoing upkeep, so it’s important to be realistic when it comes to assessing whether you can and should purchase a home.

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

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Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610

Call: 866-220-3907
Email UsAustonGrove001@myLTSMail.com
View Map

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

$800-$1250