Walden Pond Apartment Homes

1400-A Weeping Willow Drive, Lynchburg, VA 24501
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$696-$1,308

Apartment Homes Lynchburg VA Blog

All The Perks of Living in a College Town

All The Perks of Living in a College Town

Joseph Coupal - Monday, October 08, 2018

Walden Pond Apartments, Lynchburg, VALiving in a college town might seem like an unusual decision once you're out of school. Sure, living there might make sense while your own children are in school, if you're going back to college to enhance your career or if you're taking a teaching opportunity. But if you aren't connected to the university, staying in a college town or choosing to move to one might seem like a strange choice. It isn't.

Let's be clear as to what a college town is. Here, we're talking about a smaller community in which a large university provides employment for a significant portion of the town's residents, and many other residents are involved with businesses that serve students and alumni. In these towns, the student population makes up a significant part of the population.

College towns offer a number of perks beyond simply having university-level classes down the street.

Here are five benefits that come from living in a college town.

Low cost of living. College towns tend to have a low cost of living. After all, landlords are often renting properties to college students without a lot of money.

Often, the sticker price of rent in such towns is fairly low, but the leases may involve a lot of protection for the landlord against property damage. If you're a mature adult who isn't going to have a big party every weekend, you're likely to avoid all of those extra expenses.

Furthermore, such towns are often full of a wide variety of low-cost services, such as inexpensive restaurants and many secondhand shops, which are usually well-stocked. They typically have good yard sale markets since students often buy items and leave them to be resold when they depart.

Cultural opportunities. College towns often attract cultural events and tours from musicians, stage companies and speakers that would not otherwise come to a town of that size. This gives you the opportunity to live in a relatively small-town environment while still seeing top-notch cultural events.

Sometimes, these performances and concerts are on campus but open to the public, so you may want to watch the schedule of events there. Many college towns, however, have other venues, such as bars and small concert venues, that are often used by traveling performers. There's usually something to see or do all the time, at least in comparison to other towns of similar size.

Low-cost entertainment opportunities. The universities themselves tend to provide an abundance of low-cost or free entertainment opportunities to the community. For starters, politicians, authors, celebrities, artists and other public figures often appear at universities and colleges in speaking and question-and-answer forums that are open to the general public for free.

Beyond that, universities and colleges often have a range of special-interest groups that work to share that interest with the broader community, offering demonstrations and events on campus and in the town itself. Pay attention to the local news, community calendar and college's calendar to find all kinds of low-cost entertainment options.

Easy ways to make money. Many universities have thriving research projects that seek out citizens of the surrounding town for paid opportunities. You might be paid to play a game or eat a strange food and give your thoughts on the experience, for example, as researchers study some aspect of what you're doing. It can often be an easy way to earn a few bucks.

Plus, many college towns have businesses that offer simple ways to earn a few extra dollars. While these businesses might target students, members of the community are typically welcome. You might be able to make extra money from donating plasma, driving for a ride-hailing service or offering up transcription and editing services through sites like Upwork (both professors and some students will use this).

Exceptional medical services. If you choose to live near a university with a good medical school, you'll have access to top-notch medical services at a reasonable price, which can be a great bargain. Medical schools tend to offer a wide variety of medical services to the public, with those services used as learning opportunities for students.

For people in town, this typically means that medical appointments and procedures involve an experienced doctor paired with a student or two. The student learns about the practice of medical care while the doctor tries to provide a good model for the student. Thus, if you don't mind having a student watching and learning from your medical visits, using the local medical school's services can be a great bargain for excellent care.

All in all, there are a lot of perks that come from living in a college town beyond the educational opportunities. Don't overlook those benefits.

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

#HowYouLive

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Millennials Are Renting in Lynchburg, VA

Millennials Are Renting in Lynchburg, VA

Joseph Coupal - Monday, October 01, 2018

Walden Pond Apartments, Lynchburg, VAThe Millennial generation is all about changing tradition. They’re marrying later. They’re in favor of ping pong tables in the office.

And they’re renting apartments instead of buying.

That’s not to say they don’t want to purchase a single-family home eventually:

A survey this year showed that as many as 75 percent of those young Americans born into Generation Y do want to own their own home, and most (66 percent) want to do so in the bucolic (Virginia) suburbs.

They just don’t want to do it yet:

Another recent report found that a full half of Millennials rent their homes, a figure up markedly from the 37 percent of renters surveyed just five years ago.

But why?

Why are Millennials choosing to rent, and not buy?

Purchasing a home means acquiring more debt. The most obvious reason millennials are opting to rent is the crippling debt many find themselves with in their early 20s. According to the Institute for College Access & Success, 7 in 10 college students who graduated in 2012 have student loan debt. The average amount: a staggering $29,400 – and many others graduate even deeper in the hole. The amount of student loan debt has increased an average of 6 percent per year since 2008, and there is no sign of the trend stopping.

With student debt looming, it’s no wonder millennials favor a monthly rental check over additional mortgage debt. While mortgage payments can be more affordable than rent in some cities, recent graduates likely don’t have the funds necessary to make a down payment. Beyond having money for a down payment on a home, some millennials simply don’t qualify for a mortgage. Whether they are saving up for a down payment or choose to rent as a long-term housing decision, renting allows millennials to move out quickly without the immediate financial squeeze that comes with homeownership.

Apartment life is more affordable than owning a home. In addition to the upfront cost of a down payment and a mortgage, managing a house comes with a lot of additional costs: Homeowners must pay property tax, maintenance and repairs, utilities and perhaps even association fees on top of their mortgage. An apartment requires rent and utilities, which is much more manageable for a millennial on a tight budget.

To take advantage of apartment amenities. Many apartment complexes offer amenities such as fitness centers, pools, a concierge and on-site maintenance – perks that don’t usually come with your first home purchase. Though renting an apartment in a building that has luxury amenities can come with a bigger price tag, the features cut down on other bills. Instead of paying for a gym membership and rent, renters in these buildings can pay one price and get both. In fact, the idea of having access to amenities is so appealing to some young people that they plan to rent for a while.

To enjoy city life. Many young people choose to live in urban areas because they like the atmosphere. They can walk to grocery stores, take public transportation, find night spots easily, see live concerts and access great restaurants. Millennials drawn to the energy of metropolitan areas likely can’t afford to own a home there. If city living is a priority, they’ll sacrifice homeownership to get the location, and that means renting.

To maintain flexibility and freedom. Recent college graduates want to have the freedom to move around. They’re just beginning their careers and haven’t decided when and where to settle. For this reason, renting an apartment instead of moving right into homeownership is often the smarter choice. Young people can move for a new job or to simply try out another city without being tied down to a mortgage. Rather than settling down immediately after college, millennials are focused on finding the right job, a city that fits their personality and trying new things.

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

#HowYouLive

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Walden Pond Apartment Homes

1400-A Weeping Willow Drive, Lynchburg, VA 24501

Call: 833-280-0420
Email UsWaldenPond.PropertySite.HHHunt@aptleasing.info
View Map
Walden Pond Apartment Facebook Walden Pond Apartment Twitter Walden Pond Apartment Google Plus Walden Pond Apartment RSS Feed
Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: Closed

$696-$1,308