Walden Pond Apartment Homes

1400-A Weeping Willow Drive, Lynchburg, VA 24501
Call: 833-280-0420 Email UsWaldenPond.PropertySite.HHHunt@aptleasing.info View Map
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Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: Closed


Apartment Homes Lynchburg VA Blog

Apartment Hunting Mistakes – Lynchburg, VA

Apartment Hunting Mistakes – Lynchburg, VA

Joseph Coupal - Monday, October 31, 2016

When apartment hunting, we assume we know what we want, and strongly believe that we know how to find it. However, this is not always the case.

There are various mistakes that we can make while apartment hunting in Lynchburg, VA, including the wrong area, monthly price, and the roommate situation.

1. Wrong location

Apartment location is huge, especially when you plan on settling down for a few years and having the same address for longer than two semesters. To decide an area in which you want to live in, there is no better way than physically visiting the place.

A location is vital for obvious reasons, but also because we want to be close to certain things, such as campus, grocery stores, and gas stations.

2. Bad pricing

Pricing is everything. Make sure that you are looking in a bracket you can afford and are willing to pay. Nothing is worse than finding the perfect place and realizing that it is way over your budget.

It is always a solid idea to plan accordingly and to have money saved. In this case, better to have money saved than no money.

3. Relying on opinions

As we search for apartments, we have a habit of asking others for their opinions. If they have heard about the apartment complex before, if friends have lived there, or been there, etc. It is good to ask around in search of separate perspectives, special insight, or first apartment advice in general.

But, don’t make decisions solely based on what others say. Basically, this rule applies to any and everything in life. You should always be willing to listen, but not always willing to agree.

4. Unstable roommates

Finding an apartment also means that you most likely will have roommates. Whether they are random or not, they are still your roomies. And this means that you should attempt to find stable ones that are able to pay their portion of rent, electric, and water every month: the necessities. Plus, stability means being able to feed yourself.

Searching for a place to live also means that everyone is on board with living there and that down the road, they will not be blaming you for signing the lease. There is nothing like an argument revolving around the lease. Say hello to awkwardness and potential end of friendship.

5. Narrow choices

Apartment searching does not mean that you plan on locating your dream house, but also does not mean that you should be settling just because. You want to go into the hunt with a general idea of what you want, but then also not limit yourself.

Having too narrow of choices can make it extremely difficult to find an apartment, as well as putting unnecessary pressure on yourself.

6. No amenities

This is vital because who wants to pay $200 more a month just because there is a community pool? If anything, the apartment should come with a lot more than just that.

Common amenities include a gym, washer and dryer, visitor parking, pets accepted, and of course a pool is always nice. Try not to limit yourself once again, though. You may be missing out on really nice apartments just because they do not come with a deluxe gym (think about what you need versus what you want).

Looking for the very perfect apartment is not only difficult, but pretty much rare. You are not always going to be completely pleased with your results, but you can definitely be happy for the extent of the lease.

Attempt to steer clear of the common mistakes which include location, pricing, advice, choices, roomies, and amenities. Plus you may find the perfect apartment in an area you never thought twice about.

For more information on apartments in Lynchburg, VA, contact Walden Pond.


Tips for College Students Looking to Rent Apartments in Lynchburg, VA

Tips for College Students Looking to Rent Apartments in Lynchburg, VA

Joseph Coupal - Monday, October 24, 2016

Renting an apartment in college is almost a rite of passage. Sometimes it is easy to find the right place, sometimes it isn’t. To avoid trouble, here are some tips for prospective renters:

1.) Checking your credit report.

You can get one for free, once a year, from www.annualcreditreport.com.

It’s very important to do that before you go speak to a landlord because once you go see a landlord, you’re going to be giving them an application fee and that’s typically per adult. So if there is something on your credit, you’re going to want to explain that before you pay an application fee.

There’s no sense in paying it if you’re going to be denied anyway.

2.) Know your budget by separating wants from needs.

3.) Avoid only looking at model units

That’s not necessarily what you’re going to get. You may get something very similar but it may not have been freshly painted. May not be fresh carpet.

4.) Research your roommates

Roommate issues is high on the list of tenant complaints.

5 (and most importantly). Read the lease thoroughly

If you don’t understand something then the property manager needs to explain that to you. And if the property manager doesn’t want to explain that, then you don’t want to rent from that person.

For more information on apartments in Lynchburg, VA contact Walden Pond.


Should You Keep Renting Your Apartment in Lynchburg, VA?

Should You Keep Renting Your Apartment in Lynchburg, VA?

Joseph Coupal - Monday, October 17, 2016

If you have been thinking about buying your first home, making the decision about renting or owning means answering some questions. 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 Lynchburg, VA, contact Walden Pond.


Should You Live in Off-Campus Apartments in Lynchburg, VA

Should You Live in Off-Campus Apartments in Lynchburg, VA

Joseph Coupal - Tuesday, October 11, 2016

It is one of the most important questions of your college years – should you live in a dorm or rent your own place? This decision can drastically alter your college experience. While a majority of students decide to live on campus as a freshman, where you live during the later years is a lot less clear.

Staying on campus will keep you close to classes and in the loop when it comes to school activities, but off-campus living has some serious perks, too. Having trouble figuring out what's right for you? Here are five reasons you may want to consider renting an apartment in Lynchburg, VA.

1. It can save you money. Dorms and other student housing are expensive at many colleges, which is why so many students opt to live off-campus starting their sophomore year. However, this isn't always the case, so don't fall into the trap of thinking that all off-campus housing will be cheaper.

If money is an issue for you or your parents, do a little research to determine typical rent prices in nearby neighborhoods. Find one that works best for your budget and won't be a difficult commute to classes. And don't forget: Living with roommates will likely be much cheaper than living alone.

2. There are no rules. The longer you live in dorms, the more time you'll have to deal with things like nosy RAs and early quiet hours. While this is perfectly fine for some people, others prefer the idea of living somewhere that doesn't have strict rules. While these rules are meant to create a positive living environment, renting an apartment allows you to hold your own hours and do your own thing (within reason, of course).

3. You'll find yourself becoming more responsible. One of the main reasons you should live off-campus is that it offers important real-life experience you can build on as you move into post-grad life.

Between actually having to pay your own rent (which most students don't have to worry about in the dorms), and managing all the other expenses that go along with renting your own place, living off-campus is a crash course in responsibility. Things like time management, budgeting and learning to cook will all start to become normal parts of your day-to-day life. Before you know it, you'll be a full-fledged adult.

You'll also learn how to develop a relationship with your landlord, and you'll build a rental history, which will only help you when apartment hunting in the future.

4. You'll have more space. Another major perk of moving out of the dorms is that, for the most part, off-campus apartments have a lot more space. That includes more storage, larger kitchens, a real living room and your own bedroom. Either way, you'll find yourself with more room to spread out, and that's no small thing.

5. You'll have a lot of fun. Finally, and arguably most importantly, students who rent apartments off-campus, especially those who live with their friends, have a lot of fun. You'll get to decorate your own space and entertain friends (even into the wee hours). Plus, simply being able to explore more areas of the city you live in is a perk that can't be quantified.

For more information on apartments in Lynchburg, VA contact Walden Pond.


Millennials Prefer Renting Apartments in Lynchburg, VA

Millennials Prefer Renting Apartments in Lynchburg, VA

Joseph Coupal - Tuesday, October 04, 2016

The American Dream of homeownership is fading among millennials.

Unlike their parents, they show little interest in setting down roots. Instead, they enjoy the freedom and mobility that comes with home rental.

It’s a trend that’s been gaining momentum for years.

There’s been a steady decline over the past decade in the U.S. homeownership rate. It now sits at 62.9%. This is the lowest rate since the census began tracking the quarterly figure in 1965.

And folks age 18 to 34 are a big reason for the drop. Their rate of homeownership recently fell to its lowest in history... 34.1%.

But with mortgage rates near all-time lows, why are the majority of millennials in the rental market instead of buying homes?

Besides obvious reasons like affordability and fewer available starter homes, they’re also faced with hurdles that didn’t affect past generations.

A big one is student debt.

College grads spend nearly one-fifth (18%) of their salaries on student loan payments.

That debt makes it harder for millennials to save for a down payment and afford the other costs of owning a home.

But the bigger question is: Do they really want to buy?

The answer is “no.”

Millennials are delaying marriage and parenthood, the primary drivers of homeownership, until later in life.

And instead, they’re focused on finding the best property to rent.

Since new apartment complexes deliver luxurious amenities like pools, gyms and private theaters, it’s easy to understand why.

Millennials are enjoying all those great rental amenities. If you know someone who lives in a luxury complex, try to get an invite. You will quickly see why the American Dream is fading.

For more information on apartments in Lynchburg, VA contact Walden Pond.



Walden Pond Apartment Homes

1400-A Weeping Willow Drive, Lynchburg, VA 24501

Call: 833-280-0420
Email UsWaldenPond.PropertySite.HHHunt@aptleasing.info
View Map
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Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: Closed