Hethwood Apartment Homes

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Blacksburg VA Apartment Homes Blog

Reasons Why You Should Not Buy a Home

Joseph Coupal - Thursday, March 29, 2018

Hethwood Apartments, VAThe Fairy Tale

We are constantly told throughout our youth that we are to follow a certain path. Grow up, go to college, graduate, get a job, get married, buy a house, have kids, live happily ever after. But we all know this isn’t a linear path and life has a funny way of throwing you curve balls when you least expect it.

Buying a home can be a good thing, but it can also be another shackle that holds you back from pursuing your dreams. Here are three reasons why you should hold off on the largest purchase of your life.

Lack of Mobility

You’re in your 20’s. Not only is this a time for excitement, it’s a time for decision-making. Do you stay in your college city? Do you move back home? Do you follow your dream of chasing the endless summer? Buying a house at this point in your life certainly does one thing - it plants your butt firmly in one location and gives you a heck of a lot of responsibility.

You may think, “But I can sell the house at any time if I choose to move.”

Well, yes. But then you have to deal with closing costs, paying a broker, etc. If you move shortly after buying your home you’ll take it on the chin with fees and expenses.

You also have to deal with maintenance, property taxes, insurance, your roof developing a leak and the kid down the street that keeps egging your house. Do yourself a favor. Keep yourself mobile and your options open.

Increased Debt Burden

You will be taking on one of the largest purchases of your life and a mountain of debt.

Debt is a shackle that will hold you back from taking flight and can impair your ability to make decisions. When you have 30 years of debt payments (i.e., a mortgage), you can’t pack up and leave for that trip-of-a-lifetime. There is also your debt-to-income ratio that is important to consider. When this ratio gets too far out of whack, it will get more difficult to obtain loans for things like a car, credit cards, etc.

The Buy Versus Rent Debate

Whether you knew it or not, there has been a long-standing debate on the financial benefits of buying a home versus renting. The recession in 2008 that sent the real estate market swooning was painful for those that owned property. But even over the long term, the benefits of owning property can be argued against.

Just to be clear, owning real estate is not a bad thing. But, the numbers don’t lie. Buying a single-family home is not as great an investment as some would have you believe.

For more information on apartments in Blacksburg, VA, contact Hethwood.

#HowYouLive

investopedia.com


Reasons to Rent

Joseph Coupal - Friday, March 23, 2018

Hethwood Apartments, VARenting has a lot going for it. It gives you a level of freedom that you don’t have when you own a home. You can move when you want; so if you have an opportunity to take a better job in a different state, you can. When you have time off, you can have time off! No housework, no yard care, no worries about maintenance. Take a weekend trip rather than yardwork.

In many parts of Virginia, while house prices are rising, they are not at the place where they were before the bust. Therefore, you are not really missing out. The longer you can save, the more you can put down for a deposit if you decide to buy at some point. This will reduce mortgage costs.

When renting you avoid all of those additional fees. Money needed for deposits, PMI, closing costs, home inspections, and attorney fees. All of these additional costs can add up to be thousands of dollars. Not to mention the eventual repair and maintenance costs when you own a home. As a renter you can pick up the phone and call the management company.

For more information on renting an apartment in Blacksburg, VA contact Hethwood Apartments.

#HowYouLive


Virginia: One of the Best States To Live for 2018

Joseph Coupal - Monday, March 12, 2018

Hethwood Apartments, VAWe used science and data to determine which U.S. states have it made.

Do you live in one of the best states in America?

You might think people across the nation like to think they live in the best place in the country. After all, you wouldn’t spend your lives somewhere that you truly didn’t love. Right? Not always. In fact, according to a Pew Research Center study not too long ago determined that almost half of Americans would rather live somewhere else than they do now.

Well, if you’re in one of the states we’re about to highlight, odds are you don’t want to go anywhere.

The purpose of this study is to use science to determine which of our great American states are the absolute best. While unbiased, this research does take into account factors that almost all Americans would agree are desirable. Therefore, while you may have strong opinions either way, you can’t argue against the methodology.

After analyzing all 50 U.S. states, we came up with this list as the 10 best states in our nation for 2018:

  1. New Hampshire
  2. Massachusetts
  3. Connecticut
  4. New Jersey
  5. Virginia
  6. Vermont
  7. Hawaii
  8. Minnesota
  9. Maryland
  10. Rhode Island

How we crunched the numbers for the best states of 2018

We threw a lot of criteria at this one in order to get the best, most complete results possible. Using FBI crime data and the most recent ACS 2012-2016, this is the criteria we used:

  • Population Density (The higher the better)
  • Lowest Unemployment Rates
  • High Median Income
  • High Home Values
  • Levels of College Education
  • A lot of insured people
  • Low Crime
  • No poverty

We then ranked each state from 1 to 50 for the criteria with a #1 ranking being the best for the particular criteria.

Next, we averaged the rankings into one “Best Place To Live Index”.

Finally, we ranked every state on the “Best Place To Live Index” with the lowest index being the Best State To Live in America for 2018.

For more information on apartments in Blacksburg, VA contact Hethwood.

#HowYouLive

homesnacks.net


Blacksburg is a Best Place to Live in 2018

Joseph Coupal - Monday, March 05, 2018

Hethwood Apartments, VAWith gorgeous scenery, the Blacksburg area features 60 mountain peaks and a myriad of trails that are ideal for hiking and biking. Home to Virginia Tech, the college town atmosphere in Blacksburg has helped foster affordable housing options along with a robust downtown district, fantastic restaurants, boutiques, and entertainment venues.

The Blacksburg Historic District draws admirers of Greek revival, Gothic and Colonial American architecture, and the local economy is bolstered by innovative technology hubs like Virginia Tech Transportation Institute's Automation Park, a sprawling testing ground for drones and self-driving cars.

For more information on apartments in Blacksburg, VA contact Hethwood.

#HowYouLive

livability.com



Hethwood Apartment Homes

750 Hethwood Blvd. 100G, Blacksburg, VA 24060

Call: 888-397-2931
Email Usinfo@foxridgeliving.com
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Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

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