We all need a place to call home but even with the real estate downturn, many people continue to think that buying a home is a good investment and a way for them to build wealth. When times were good, this was not really the case for most people. Wherever you choose to live, make sure it’s for the right reasons. Owning a home can be rewarding. Renting an apartment home with Auston Grove Apartments can also be very rewarding. Don’t just take our word for it – check out this article on Yahoo Finance – Why Your Home is not the investment you think it is. In recent months, the housing market, interest rates and the economy have been the focus of many news stories and are key issues in the political arena. Consumers have been inundated for years with visions of the American Dream and why home ownership is a great investment. As seen with the recent housing crisis, home ownership may not be right for everyone.
- If you bought in Rochester, N.Y., in 1980, you would have seen only a mediocre 4% annual growth for the next 25 years.
- If you bought in Dallas in 1986, as the oil boom went bust, your home wouldn’t have appreciated at all before 1998.
It is also important to look at the “net appreciation”. Most people do not subtract all of the interest paid to the banks, maintenance, decorating costs, closing costs, taxes, and insurance from the appreciation. In many cases, especially if you do not own your home for more than a few years, there is not true appreciation and in more and more cases, there is negative appreciation. Many do not realize the real financial and practical advantages HHHunt residents experience every year when they decide to rent an apartment home at one of our communities. There are just a couple of points to consider and think about. Renting is a long term investment and very rewarding. Especially in the North Carolina area we are a respected and very diverse community. Be sure to take a look at our communities and our activities we have to offer. Our unique apartment homes at Auston Grove combine convenience, comfort, and technology for today’s lifestyle in our apartment homes. Our beautiful interiors are designed to optimize the way you live, work, and play. Contact us today to learn more about renting at Auston Grove, or feel free to stop in and take a tour of our community.