Walden Pond Apartment Homes Blog

There are a lot of questions out there now about renting or buying a home. If you are in the market for a home, what should you do?

The common opinion is that making a rent payment instead of a mortgage or purchasing is like “throwing the money in the wastebasket.” At some point in time before the recession, homes were incorrectly considered an investment that would “always” go up rather than one that “may” go up.

When you consider all the pros and cons, buying may not be the best choice in all situations.
 
Avoid big money commitments: Usually, one can rent for the same or less than the cost of buying and they don’t have to come up with large fees like closing costs or taxes. Also, if a mortgage is taken out, the first several years of payment are dedicated mostly to the interest, not the principal.

Many apartment  communities cover the costs of maintenance, landscaping and general repairs that a buyer would be responsible for themselves. A renter’s biggest expenditures are often moving and furnishings.

Flexibility: Since renting requires no substantial long-term investment, the renter has choices more often about their living situation. Moving from a bought home involves planning and costs such as commissions to real estate brokers. Also, if a home buyer wanted to sell, they could be at the mercy of the markets or not be able to sell their home at a profit.

If house values continue to decline, the worst scenario for a renter is only paying until their lease expires. People who rent can’t place a value on having that freedom.

Investment Considerations: Large down payments or home purchases can make it difficult for home buyers to maintain savings and investments specified for retirement and related activities.

In some cases, the money saved by not buying could outweigh the money earned on a purchased home, depending on the investment and property appreciation. For a home buyer, the risk is higher if an unexpected sickness or injury occurs causing financial strain.
 
The rent vs. buy decision is more than comparing lease and mortgage payments. The reality is there are pluses and minuses to each option.

For more information on our online specials or renting an apartment in Lynchburg, VA, contact Walden Pond Apartments.

Original article – Bradenton.com

Make the season special for someone who needs a home for the holidays. If you live in an apartment in Lynchburg, VA and you love animals, you are the perfect candidate.

Fostering a pet for the Holidays will bring you joy.  Our local Humane Society is seeking foster families so no pet will have to spend Christmas in the shelter.  Have you been thinking about getting a pet to keep you company? Has your son or daughter been begging you for a dog? This is a perfect opportunity for a no-strings test run; and a lot of families end up  adopt their foster pet.  

During December Walden Pond Apartment Homes is waiving the $200 pet fee for any residents who want to adopt a pet from a local shelter.  We are also holding a Pet Drive for food, blankets, paper towels and toys for the homeless pets.  We are encouraging all residents to do what they can at this time of the year.

If you are looking to find a way to help someone out this holiday, to experience the holiday spirit we invite the residents of our apartments in Lynchburg, VA to be a Santa for a senior.

During the holidays, it's easy to get caught up in shopping for your own family.  But some people don't have any family or money to get Christmas gifts.

Home Instead's “Be a Santa to a Senior Program” is helping more than 2,000 Lychburg seniors. But the community's help is needed to make the seniors' wishes come true.

Volunteers for the 'Be a Santa to a Senior' Program have one priority--making the holidays brighter for low-income and isolated seniors.

The little things mean a lot to a senior citizen and their wish lists are mostly need based. Some seniors wish for the gift of company.

"Taking a gift to a senior, you don't realize how much that changes their lives," volunteer Dean Zentmeyer said.

The housing market is stagnating right now and real estate brokers would have potential buyers believe that there is no better time than the present to buy a home. It is true, prices are down and mortgage rates are at all-time lows.

Unfortunately for the real estate brokers, many clients are not persuaded by that logic. Instead, in increasing numbers, they are choosing to rent instead of buy — unconvinced that the housing market has yet hit bottom. Would be buyers also understand that unless you plan to stay in your home for more than 10 years, buying a home may not be the right investment for everyone.

Conveniently located, our apartments in Lynchburg, VA offer apartment amenities that can’t be found in homes; renting is a great option for many. There is also a broad mix of tenants in the Walden Pond Apartment community: young single residents and families and empty-nesters that no longer have homeownership on their wish list.

For information on beautiful one-, two-, and three bedroom apartments in Lynchburg, VA contact Walden Pond Apartment Homes.