Honeywood Apartment Homes

3101-H Honeywood Lane, Roanoke, VA 24018
Call: 855-719-4045 Email UsHoneywood007@myLTSMail.com View Map

Opens: Monday-Friday: 9:30A-5:30P | Saturday: 10A-5P | Sunday: Closed

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Apartments Roanoke VA Blog

Sometimes It Makes Sense to Rent

Joseph Coupal - Friday, September 21, 2012

From cars and apartments in Roanoke to clothing and furniture, huge numbers of the "Recession Generation" (20- to 34-year-olds) are choosing to rent their possessions, according to Bloomberg.

It's understandable -- in the wake of the Great Recession, the jobless rate has topped 8% for three years, student-loan debt totals $1 trillion, and among those able to get jobs right out of school, the median starting salary is a measly $27,000. All while the real costs of many everyday goods have risen.

Does it make sense to rent long term, rather than buy?

Rent vs. Buy: A Home

Many say buying makes more sense than renting. Except when it doesn't.

First, you have to qualify for a mortgage, which may not be easy for those drowning in student loans or who racked up credit card debt during their college years (or years searching for a job). When you rent apartments with HHHunt apartment homes, we report your timely rent payments to credit agencies to help you build your credit score.

You'll also need to have a down payment, which, for most, is the difficult part. As Trulia's chief economist explains, "It may be cheaper to buy than to rent in a particular city, but it takes more than 8 years to save enough for a down payment."

So while buying a home is what many expect, it may not be a feasible choice if your finances are in turmoil -- or if you want the ability to easily move.

For information on renting an apartment in Roanoke, VA contact Honeywood Apartment Homes.

Daily Finance


Honeywood Apartment Homes

3101-H Honeywood Lane, Roanoke, VA 24018

Call: 855-719-4045
Email UsHoneywood007@myLTSMail.com
View Map

Opens: Monday-Friday: 9:30A-5:30P | Saturday: 10A-5P | Sunday: Closed

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