In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it.
Home ownership is on the decline, and renting is on the rise. But the trend isn't limited to the housing market. Across the board, Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to a Rentership Society.
The unsentimental fact about the American dream is that Americans never really owned it in the first place. For the past three decades, especially, consumers haven't so much bought their quality of life as they've borrowed it from banks and credit card companies.
Now consumers are following the example of corporations, becoming more efficient. And it starts at home.
Housing is the biggest single component of consumption in the U.S. economy and the source of much of our present misery. The typical consumer spends about 32% of his or her budget on shelter. In the last decade, that generally meant borrowing a lot of money to take "ownership" of a home.
During the boom, the homeownership rate grew steadily, peaking at a record 69% in 2006.
Ownership-boosters failed to note that homes purchased in 2005 and 2006 with no-money-down, interest-only mortgages weren't really bought. They were simply rented until the "owner" flipped them or walked away from the mortgage.
In the post-bust climate, renting has emerged as a much more economically efficient way to pay for housing. A one-year lease represents a far less onerous financial obligation than a 30-year mortgage. It's difficult to get into too much financial trouble as a renter. The homeownership rate has fallen from its peak in 2006 to 65.4% today.
For an increasing number of Americans it makes more sense to rent. According to Moody's, by late 2011 it was cheaper to rent than to own in 72% of American metropolitan areas, (such as Roanoke) up from 54% a decade ago. And the more people who do it, the more socially acceptable and desirable it becomes. The decline in the ownership rate means that about three million more households rent today than did at the height of the bubble.
It's tempting to view the rise of renting as an economic step backward. But many would argue the rise of renting is a sign of a system adapting to new realities.
The U.S. economy needs the dynamism that renting enables as much as, or more than, it needs the stability that ownership engenders.
And the rising popularity of renting is hardly contained to the housing market.
Finally, perhaps, Americans are absorbing a piece of wisdom from Thoreau: "And when the farmer has got his house, he may not be the richer but the poorer for it, and it be the house that has got him."
We have raised almost $805 so far, but our goal is $1500 and there are so many ways you can help, so don’t forget to donate to this wonderful cause. We need everyone’s help. We want to make a difference by teaming up to participate in the American Cancer Society Relay for Life. Don’t wait. June is right around the corner. This is your opportunity to honor cancer survivors as well as to raise funds and awareness to help save lives.
On June 15, 2012 our team will camp out overnight and take turns walking around the track to raise both money and awareness to help the American Cancer Society find a cure.
There is a place for you at Relay. Each dollar raised will help save lives. At Honeywood we will be hosting events, selling Luminaries’, footsteps and suns. Click 'HHHunt Relay for life' for the link to easily donate from the comforts of your apartment home or come to our office!
Your credit score impacts your life on so many levels. It determines if you can buy a home someday, or a new car and it will also determine how much interest you'll pay on those large purchases. The average American has a credit score of 687.
Are you trying to improve your credit score? Honeywood Apartments, apartments in Roanoke, VA, would like to share these tips with you.
But there are ways to improve that score. This may seem like common sense, but first and foremost, pay your bills on time but if you're stretched thin then prioritize.
Credit card companies and lenders can stress you out because they call so often. But first and foremost, pay for where you live, then pay the credit cards.
Don't co-sign for someone if you're not completely sure they're dependable. Avoid applying for credit card introductory offers. Be sure to settle any outstanding tax liens and don't let student loans come back to haunt you.
Be sure you are paying your student loans, those have a large effect on your credit score.
Also, were you aware that a $20 parking ticket can impact your credit score? Believe it or not, so can library fines. More and more cities are under pressure to collect debts, so they outsource the collection to collection companies.
Low mortgage rates and more affordable home prices in Roanoke Valley are creating an interest in home ownership by those who live in apartments. However, potential buyers who are unprepared for the true cost of owning a home may be shocked by the bite home ownership can take out of their wallet in addition to their mortgage payments.
Inspection and Appraisal Fees
Before you purchase a home you need to pay for a home inspection, and an appraisal, possible even inspections for pests or radon. The costs of these inspections are borne by buyers and are a necessary protection to avoid buying a flawed property or paying too much.
Closing Costs
Buyers need to be prepared with the cash for anywhere from 2% to 4% of the mortgage balance depending on your area.
Taxes
As a homeowner, you'll need to pay property taxes, which are generally part of the escrow you pay into each month. Remember, even if you have a fixed-rate home loan, your property taxes could go up and increase your monthly housing costs.
Insurance
Your lender will require home insurance, the cost of which depends on factors including the construction materials of your home and the location. Even if you have renter's insurance, you'll find that home insurance costs more because you are paying for the ability to rebuild your home in addition to replacing your personal possessions. Insurance costs will rise over time, and you will need supplemental insurance if you live in a flood zone.
HOA and Condo Fees
If you buy a home within a homeowners' association or a condominium association, you'll be required to pay a monthly or quarterly fee. These fees can rise, or your association may need to charge a special assessment for projects such as repaving the parking lot or repairing a roof.
Utility Bills
Depending on where you live, your costs for electricity, gas and water could be higher when you move into your own home than when you live in an apartment in Roanoke, VA. You may also need to pay for garbage collection along with your Internet, cable and phone bill.
Furniture
While this is essentially a discretionary expense, most people who move from an apartment to a larger home need to buy at least some new furniture.
Lawn Care
Whether you handle your yard work yourself or hire a professional, you will have to pay something to keep your landscaping in check. Lawn equipment can be costly and you may need a leaf bloweror other lawn equipment, too.
Maintenance
Home maintenance costs time and money. While you may be able to change your furnace filters, clean your gutters and keep your appliances running smoothly yourself, you may also need to hire a contractor to clean and inspect your chimney and to keep your heating and air conditioning system in top shape.
Repairs
While maintenance tasks can be predictable, the most costly part of homeownership typically comes with unexpected repairs such as replacing or repairing the roof, removing a tree, or paying for mold mitigation in a damp basement. The list of possibilities is endless, so homeowners should set aside savings for an emergency. Experts suggest budgeting for 1% or 2% of your mortgage balance as a yearly maintenance and repair fund.
The Bottom Line
Buying a home costs more than you think. If you don’t expect to stay in your home for at least seven to 10 years, contact Honey Wood Apartment Homes.
Have you always wanted to be in the Amazing Race? Now you can be. As a resident of apartments in Roanoke, VA now is the time to get active. Key Fitness and the Roanoke Avenue Business Alliance (RABA) are partnering to put on The Amazing Race on the Avenue at 9 a.m. May 5.
Based on the television reality show, The Amazing Race on the Avenue will be a 5K that calls for more than just physical ability.
Like the television show, teams of two will have to stop at multiple places and use clues to find their next stop. Once they find all the locations based on their clues, they can return to the finish line.
“Physical activity is a mindset, and participating in events like this is positive,” said Darren Harris, director of Key Fitness.
“This unique 5K is one of many ways Key Fitness is continuing to promote physical activity in the Roanoke Valley.”
Anyone of any age has a chance at winning this event, which will require wit and physical ability.
The race will begin at 9 a.m. May 5 in the Rosemary United Methodist Church parking lot, on the 800 block of Jackson Street.
Prizes will be awarded to winners in each age category, and age categories are decided based on the combined age of each two-person team.
Official event T-shirts will be given to all participants.
As you know, tomorrow is Friday is Friday the 13th. Besides being the scariest day as a result of pop movies which began in the 80’s, Friday the 13th is also known as the most unlucky day of the year.
Living in an apartment in Roanoke, VA is the perfect place for a scary setting. Did you know that there are 4 haunted houses right here in and aroundRoanoke?
They say the Avenel Plantation is haunted. It is located in Bedford, VA, a town approximately 45 minutes from Roanoke. Avenel was built circa 1838 to be the personal residence of William M. and Frances Steptoe Burwell.
According to the tour guide from the Avenel Foundation, a "lady in white" supposedly haunts the house and grounds of Avenel.
Another allegedly haunted place in Roanoke is the Music Department at Hollins University. It has been reported that music has been heard coming from the music department at night when there is no one inside the building.
A third haunted place, Grandin Theatre, is an old landmark movie theatre. The Grandin first opened in 1932. The only locally owned theater in Roanoke, you can still watch movies there.
Employees of the Grandin have heard a baby crying late in the night when the theatre is empty. There have also been reports of a face looking down from the projection booth, a boy walking through the doors of a screening room, and the sounds of clinking glasses and laughter from the upstairs at night. Surely the atmosphere alone in the Grandin is enough to give you that chilly, ghostly feeling.
There is on last haunted location in Roanoke, but unfortunately it is no longer open. The Patrick Henry Hotel is a national historic landmark here. As the story goes, many spooky spirits have been seen in the hotel; three men in the ballroom who walk around and watch people in the room, an old lady who continues to live in the room where she died, and a man who kicks the tablecloth at a second floor table.
Whether you believe in ghosts or not, visiting these four historic places are the perfect way to spend Friday the 13th inRoanoke.
Want to win ‘lease free living’ from an HHHunt apartment community in Roanoke, VA? Plus furniture, food, phone, cable, and internet all free for a year? Be part of the K92 Reality Show.
K92 is locking six strangers in a Pebble Creekapartment in Roanokefor 7 days with no communication with family, friends or the world.
The entire apartment will be wired with microphones and video cameras which can be seen on the Internet 24 hours a day.
Contestants will be voted off by their peers ...until only 2 remain.
Do you have what it takes to win it all?
At the end of the week, the winner can pick an apartment from any of the three apartment communities in Roanoke…WestWind, Honeywood, or Pebble Creek. In addition, the winner will also receive:
Electricity service for 12 months
Apartment fully furnished by Virginia Furniture Market. The Winner get to keep all the furniture, $7,000 WORTH!!!
Cable TV and Internet Service for 12 months from Cox Communications
New TV courtesy of Fox 21/27
$100.00 Kroger gift card each month for one year.
Free phone and phone service for 12 months
The Contest requires contestants to stay in the apartment April 13th through April 20th, 2012, and to be audio/video recorded for dissemination on the Internet and on air. Contestants cannot leave for work, school, or family reasons in order to remain eligible to win the prize. They must be willing and able to stay in the apartment up to 24 hours a day for the specified days along with up to five (5) other contestants and have their voices and images recorded and broadcasted on air and/or posted on the Internet.
Applications must be submitted by Thursday April 12, at 9:00 a.m. and while it is not required, it is strongly encouraged that the applicants attach a creative youtube video of themselves with their application.
Celtic Crossroads is back by popular demand this year. They have been called “The most exhilarating and authentic show from Ireland in decades…” and it kicks off the 2012 Roanoke St. Patrick’s Day Celebration. There is only one spectacular show this year, and it is at Shaftman Hall, Jefferson Center on Friday March 16, 2012 at 8:00pm.
As residents of apartments in Roanoke, VA, don’t miss this fantastic, authentic and fun St. Patrick’s Day event. Southwest Virginia's premiere St. Patrick's Day events, the Roanoke St. Patrick's Day Celebration is now in its 23rd year. And this year, St. Patrick's Day is on Saturday, so March 17 is the perfect day for a celebration. The festivities are from 10 - 5pm, with everyone's favorite parade, the McDonald's St. Pat's Parade starting at 11:00am.
The Celtic Festival and the parade take place right in heart of downtown Roanoke, VA. Together it's one of the largest St. Pat's Celebrations in the entire mid-Atlantic region. Back by popular demand this year is the Celtic Crossroads, to kick of the festivities on Friday night.
As home values fell again in 2011, more and more people are looking to renting as an affordable, flexible lifestyle option. In response to this news, Apartments.com conducted a national survey to more than 3,000 of its January website visitors to find out the reasons they are moving and why they arerentingversus owning.
The growing trend: 33.6% of respondents looking for an apartment this year were previous homeowners (up from 20.5 percent in 2011). Respondents who said they are homeowners looking to rent, 26.3% are doing so because they believe renting is a more affordable option and 21.2% prefer the flexibility renting offers in choosing where to live. This survey provides the five most popular responses why their website visitors are choosing torent versus own in 2012:
Renting is a more affordable option: (26.3%)
Flexibility to live where I choose: (21.2%)
To relocate for employment: (20.5%)
Cannot afford to keep up with homeownership expenses: (10.5%)
Lost home due to foreclosure and change in marital status: (less than 4% each)
More than 35% of respondents said they are moving out on their own, which may be a sign of an improving economy and job market, especially in the rental demographic.
In 2012, the number one reason for moving is for relocation for a job opportunity. However, the desire to have more space, to save money and to live in a more desirable neighborhood also topped the list.
MystiCon 2012, “a convention by the fans for the fans” happens this weekend, February 24 – 26. For all of you science fiction buffs living in apartments in Roanoke, VA this convention is for you!
MystiCon is a science-fiction, fantasy and pop culture convention held every February in Roanoke. This convention includes writers, artists, television and movie celebrities in science fiction and fantasy, and loads of other guests. The Guests of Honor this year are: Sherrilyn Kenyon, Nicki Clyne, and Ursula Vernon. MystiCon offers something for geeks of all ages to see and do. Get over there this weekend and join the fun!
For an awesome weekend of SciFi, Fantasy and Pop Culture, head to the Tanglewood Holiday Inn . Convention begins at 2 PM on Friday and ends at 4 PM Sunday.
This is a family-friendly event full of open gaming, enjoyment of literature, arts, and imaginations any Con-goer will enjoy!
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In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it.
The time is quickly approaching for 
Your credit score impacts your life on so many levels. It determines if you can buy a home someday, or a new car and it will also determine how much interest you'll pay on those large purchases. The average American has a credit score of 687. 
Have you always wanted to be in the Amazing Race? Now you can be. As a resident of 
As you know, tomorrow is Friday is Friday the 13th. Besides being the scariest day as a result of pop movies which began in the 80’s, Friday the 13th is also known as the most unlucky day of the year. 
Want to win ‘lease free living’ from an HHHunt apartment community in Roanoke, VA? Plus furniture, food, phone, cable, and internet all free for a year? Be part of the 
Celtic Crossroads is back by popular demand this year. They have been called “The most exhilarating and authentic show from Ireland in decades…” and it kicks off the 2012 Roanoke St. Patrick’s Day Celebration. There is only one spectacular show this year, and it is at Shaftman Hall, Jefferson Center on Friday March 16, 2012 at 8:00pm.
MystiCon 2012, “a convention by the fans for the fans” happens this weekend, February 24 – 26. For all of you science fiction buffs living in 
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