Walden Pond Apartment Homes Blog

So many Americans are wondering if they should buy a home now or rent. Today people think they should own a home. But there is that argument that thinks that for many, renting is better.  While home ownership provides security, it doesn't necessarily give you the returns of equities. Using history as a guide, you can reasonably expect roughly 8% annual gains on your stock portfolio over the long term. House prices, on the other hand, tend to follow the rate of inflation.

Finally, don't forget that even with the tax-breaks of home ownership, you will still be incurring out-of-pocket costs that you wouldn't encounter renting from the cost of ripping down wallpaper to repairing a leaky roof, even gas for the lawn mower. Before you think about buying, estimate how much the costs will be. Don’t put yourself in the position that you are living hand-to-mouth even if it is in your own home.

Draining Your 401(k) for a down payment

Even though it is an option, withdrawing money from your 401(k) to buy a house is a bad idea. Assuming you're not at least 59 1/2 years old, you'll owe taxes plus a 10% penalty. You will also cripple your retirement savings, since most plans won't allow you to contribute to your plan for at least a year following a withdrawal. This means you're going to lose out on your company match as well as future tax-deferred contributions, not to mention the earnings on the money you've withdrawn.

Borrowing from a 401(k) isn't much better. If you leave the company for any reason, you run the risk that your loan will be called immediately. While out of your account, those dollars will also miss out on any market gains, and that tax-deferred growth.

Moving to or within Virginia? Contemplate renting an apartment in Lynchburg, VA. We invite you to contact Walden Pond Apartment Homes for more information.

Excerpts from Smart Money

When deciding whether to rent or buy, you are making the choice to rent an apartment home in Lynchburg or renting the capital needed to buy a home. Most Americans don't consider that they are renting equity (from the bank) to buy a home. As you are aware, very little equity is built in the first few years of paying a mortgage. Many people are surprisingly still very unaware of this fact.

This following article explains how renting is financially better than buying in about 75% of cases!

For the Past 30 Years, Renting Was Generally Better Than Buying

If home ownership is the American dream, then the nation had better wake up. That's the message from a new research paper that examines whether buying or renting a home was a better financial decision over the past 30 years. Most would find the result surprising: over the period Americans were better off renting between 65% and 75% of the time, depending on the investment alternative.

The article essentially looks at eight-year periods and assumes that a person invests the money he or she saves by renting. Since buying is generally more expensive than renting, renters have extra money to invest. It also makes a number of assumptions favorable to home ownership, including gains from the mortgage interest tax deduction, the option to refinance, and the ability to walk away -- loss-free -- from an underwater mortgage. Still, renting wins approximately three-quarters of the time.
 
The staff at economic research organization e21 explains why this result actually shouldn't be so shocking:

Counter intuitive as the finding may be to some, it is actually quite logical. Unless someone possesses the cash necessary to buy a residence, he or she will be renting one way or another. The choice is between renting the property directly or instead renting the capital necessary to buy the property. The amount of capital to be rented is a function of house prices, while the bulk of a mortgage payment is interest, which is the rental payment on this capital. After 2 years, the typical 30-year amortizing mortgage balance has been reduced by less than 3%. This means that a household that took out a $300,000 mortgage with a 5% interest rate to buy a home has only reduced its mortgage balance by $8,600 after two years despite spending nearly $39,000 in total over this period.

Housing advocates may respond by pointing out that at least the $8,600 in this scenario went towards home equity rather than simply being squandered on rent. But, as demonstrated in the Real Estate Economics article, the principal component of each mortgage payment - i.e. the portion of the mortgage payment that goes towards reducing the principal mortgage balance instead of interest - is an added expense renters don't have.

This turns the real estate industry's biggest talking point on its head: you aren't throwing rent into the wind each month, you're casting away equity.

Of course, that equity also provides a potential benefit. The analysis's eight-year rolling methodology appears to miss the biggest reward of owning a home: living rent-free once the home is paid off. After that 30-years is up, the longer a family remains in that home rent-free, the more buying pays off. Taking this into account would almost certainly change the result in some, if not all situations. Renting may be a better option initially, but there's no eventual reward.

An important point still needs to be made here: buying a home that you don't plan to live in for an extended period of time probably isn't a great idea. The rent you pay in the form of interest on a 30-year loan for five or even 10 years won't be any better than if you had just rented outright. But if you're planning on living in a home for 30-plus years, then you could potentially get some benefit from buying rather than renting.
 
Original article by By Daniel Indiviglio, The Atlantic

The DeVault Family Vineyards in Lynchburg, VA has a little fall fun for adults and kids. Friday, October 21st from 7pm till 11pm. Calling all adults! If you live in an apartment in Lynchburg, grab your costumes, and call the babysitter, the adult Halloween party is here. Wear your best costume and for the adult Halloween costume contest; there is a prize for best his and hers costumes!

The family fun starts on Saturday, October 22nd 2pm till 10pm. At the 2nd annual fall family fun festival at DeVault Vineyards there will be fun for the whole family. With loads of activities, grab your family for a Pumpkin Pie Baking Contest, Pumpkin Chuckin' Swimming indoor pool, Haunted Trail, food vendors, craft vendors and pumpkin painting and carriage rides.

There is something else that the Lynchburg does besides wine, and it is garlic. It is time for the Virginia Wine and Garlic Festival. If you live in an apartment in Lynchburg, VA, you have probably been to this event.

Do you love wine? Do you love garlic? Perfect! At the Virginia Wine and Garlic Festival near Lynchburg you get both at once. Save the date, held at Rebec Vineyards in Amherst on October 8 and 9. But bring along your breath mints, there is garlic galore at this festival.
 
With wine tasting, garlic, music, garlic, food, garlic, clowns and garlic you will have loads of fun. Cornerstone Garlic Farm will also be there with several varieties of hard and soft neck garlic, elephant garlic, shallots, garlic braids, garlic dog biscuits, garlic powder, homemade garlic, herb, & mushroom blends, homemade dip mixes, pepper ristras, and real garlic earrings!
 
Hanger Garlic Farm will be there with nine varieties of garlic, assorted pepper, herbal balms, and garlic paraphernalia like holders and roasters. According to the Wine and Garlic Festival, It’s Chic to Reek!

If you are looking for an apartment in Lynchburg, VA surrounded by the Blue Ridge Mountains look no further than Walden Pond Apartments. This apartment community sits in a quiet section of Lynchburg close to retail and restaurants centrally located to Lynchburg College and Liberty University. Walden Pond Apartments offers a tranquil park-like setting with the conveniences of the city lifestyle and plenty of apartment amenities.

We have various apartment floor plans with luxurious apartment amenities. Our one bedroom apartments range from 696 to 970 sq ft, and our two bedroom apartments range from 924 sq ft to a spacious 1035 sq ft. We encourage you to make an appointment, and see what Walden Pond and Lynchburg have to offer.
 
Being ranked by Forbes magazine as No. 28 in the nation's top 200 metropolitan areas, Lynchburg is home to exquisite restaurants, dynamic nightspots, cultural entertainment, recreational opportunities, and retail shops. Our city boasts beautiful weather as well as local events and happenings throughout the year.

Contact us for an appointment to view our apartment homes.

The historic Virginia 10 Miler will celebrate its 38th year this weekend, September 23 – 24 in Lynchburg. There will be more than 3,000 runners from around the world. Men, women and children of all fitness levels can participate because there is a 10 mile race, 4 mile race, and Amazing Mile Children's Run.

Friday night is when the fun begins with the Amazing Mile Children’s Run, and a fun family festival.

Also on Friday, the expansion of the Amazing Mile Children's Run. This year three children's races will be offered for children 13 and under. There will be a 1/4 mile (children ages 0-5), 1/2 mile (children ages 6-9), and a 1 mile (children ages 13 and under).

On Saturday, thousands will take part in the 10 mile run, 4 mile run, and 4 mile walk.

Get out of your apartment in Lynchburg this weekend, grab the family and have fun either watching or participating at the Virginia 10 Miler Race.

September is National Cholesterol Education month and this is the perfect time to start paying attention to your health; the perfect time to get your blood cholesterol checked. Choose National Cholesterol Education Month to learn about food and lifestyle choices that help you reach personal cholesterol goals.

Obviously your diet is a large factor in your cholesterol levels. You can lower your cholesterol with medication, but if you would prefer to make a lifestyle change, your diet is the place to start. Even if you have many years of poor eating habits in you, a change in what you eat can affect your cholesterol levels.

Lowering cholesterol levels that are too high lessens your risk for developing heart disease and reduces the chance of having a heart attack or dying of heart disease. The combination of exercise and a better diet can significantly reduce your cholesterol levels without the use of medication. Regardless of if you are overweight, exercise can reduce cholesterol. Actually, moderate physical activity can help raise high-density lipoprotein (HDL) cholesterol, the "good" cholesterol.

Walden Pond Apartment Homes, your apartment in Lynchburg, VA,  has a junior Olympic sized pool, jogging trails, volleyball court and fitness center. Are you taking advantage of them?

Thirstyburg Thursday is an outdoor music festival that residents of Lynchberg, VA have been enjoying all summer long. The proceeds from the summer long event go to the Challenged Sports Exchange, an organization that provides recreational activities and sports programs for individuals with mental and/or physical challenges.

This week on Thursday is the last event of the season, and it promises to be a great one. Everyone is invited. Bring your lawn chair and get ready to have the time of your life. If you are under 18 years please be accompanied by a parent or guardian, and admission is free to those under 12 years of age.

Whose playing you wonder? Dozens of Lynchburg's Very Best Musicians all on one stage together, Featuring names like: Tommy Cox, Jeremy Fretwell, Pete Turpin, Melvin Pribble, Tom Howell, Bill Miller, Craig Mcfleeganski, Scott Silby, Jonny Leadingham, Casey Wood, Chris Abbott, Steve Freeman, Robin Tolley, Joe Barrett, Alan Hayth, Chris Dewitt, Danny Savarese, Stephen Elliott and many more to be added.

Grab your friends and neighbors from your apartment in Lynchberg, VA and join the fun. A great way to send off summer and usher in Fall.

While it isn’t the end of the summer exactly, it is almost September. Kids are back to school, and that freewheeling summer feeling starts to leave us behind.

Living in either a house or apartment in Lynchburg, VA the send off of the summer from Hurricane Irene has us wanting to let of a little steam. Well we know just the place. 

Play Back to Summer with Robin Alexander Bistro as we say good bye to summer the only way we know how, with a Big Party! Enjoy Great Food and Drink Specials, Live Music, Beach games, and Giveaways. Grab your friends, your coworkers, and family and come out and blow off some steam while you celebrate The End of Summer in Lynchburg. Games will be set up all day!!

Is this scenario familiar: You drag yourself into your apartment after working hard all day, only to discover that you forgot to take something out of the freezer to cook for dinner? This happens to me quite often. If this happens to you again, don’t fret! Simply drive over to Phase 2 for dinner!

This fine establishment has special dining deals for two Monday-Wednesday nights. For instance, on Tuesday nights you can get glazed pork chops, a salad, and a side for only $14! In addition, this venue is the perfect place to go for entertainment. In fact, they have events almost every night! If you’re not busy tomorrow night, go to Phase2 for Throwback Thursdays. This event features all the old school R&B, Soul, and Hip Hop tunes you love.

Phase 2 Dining & Entertainment is located at 4009 Murray Place, Lynchburg, VA 24502. For questions or more information, please call 434-846-3206.