Apartments Roanoke VA Blog


Get e-mail notifications of new blog posts! Enter email address below.

Delivered by FeedBurner


Think Twice About Buying

- Wednesday, July 03, 2013

Have you heard this before: Renting is like throwing your money away. Buy a house now because home prices are rising. A house is the best investment you can make. Owning a home is the American dream.

Sound familiar? Like marriage and parenthood, buying a house means you can shed the label “recent college grad” and call yourself grown-up.

But a home is not necessarily the best investment you can make. And even if you can afford it, it may not make you happy.

Peel back the packaging on those reportedly low interest rates. Those are reserved for people with stratospheric credit scores, 20% for a down payment and minimal student loans.

Also, have you met the zombie homeowners? They still walk this land. Between the peak of the market in June 2007 and May 2013, loads of homes were foreclosed on.

The foreclosure crisis disproportionately affected young people and people of color. Plenty of college-educated, employed people whose mortgages fell underwater and, credit rating be damned, they opted to abandon their homes.

Home prices are rising now, and Zillow estimates they will go up 7% in the next 12 months. But from peak to trough, most homes lost a large percentage of their value.

Recent studies show that high rates of homeownership can actually dog a region’s economic growth. A May study showed that when a state doubles its homeownership rate, a doubling of unemployment later follows. An increase in homeownership led to lower levels of labor mobility, longer commute times and fewer new businesses.

If you plan to stay in a home for less than 3.6 years, it’s better to rent than buy.

“Many say you shouldn’t use a house as an investment. Investing in the stock market or some other vehicle is a better choice,” said Svenja Gudell, senior economist at Zillow.

For more information on renting apartments in Roanoke, VA, contact Honeywood Apartments.

Seattle Times

Recent Posts


how to conserve water Festival in the Park Valentines Day restaurants, Roanoke hurricane safety Power Tool Drag Racing Roanoke races orchards in Roanoke Rent vs. Buy cost of home maintenance and repairs cost of living Memorial Day recipe New Year's Eve Events, Roanoke renting vs owning apartments need downtown Roanoke fireworks in Roanoke, VA Roanoke checkpoints corporate apartments, Roanoke VA green living tips Roanoke cost of living setting your thermostat affordable cities for retirement renting after retirement Pink Parade, Roanoke two bedroom apartments, Roanoke VA fall activities, Roanoke, VA Roanoke festivals K29 reality show, Roanoke, Va how to keep new years resolutions renter's insurance credit score apartments reviews, Roanoke, VA labor day events in Roanoke Roanoke Apartments cost of home maintenance labor day weekend Virginia meet friends in an apartment Memorial Day Welcoming community in VA Earth Day Agricultural Fair pumpkin chocolate chip cookie recipe new years resolution Greek Festival, Roanoke Roanoke events 4th of July, Roanoke rental community, Roanoke VA Thanksgiving take-out Raonoke food tours 4th of July Fall Festival urban camping date night ideas Music & Dance Festival St. Patrick's Day decorating ideas get rid of holiday stress tips for green living renter's insurance, Roanoke tax deductions for renters Roanoke Honeywood Apartment Homes - VA one bedroom apartment in Roanoke, VA book lists Roanoke SPCA Earth Day Roanoke Festival First Fridays hurricane fried chicken recipe cheap textbooks New Year's Eve Events new books literacy, Roanoke, VA renting, Roanoke, VA Roanoke holiday laser light show Welcoming community holiday cards green apartment living tips improve credit score Roanoke beer Dickens of a Christmas finding pet friendly apartments Roanoke, VA ways to relax shopo women Craft Beer Tours, Roanoke budget-friendly date night ideas grilled filet recipe how to tie a toga HHHunt restaurants in Roanoke Roanoke Craft Beer Tours apartment decorating Roanoke Mountain Funfest Roanoke Food Tour green apartment living Best of Southwest Roanoke County 2013 cookies for kids cancer sidewalk sale, Roanoke, VA Roanoke apartments reviews Downtown Roanoke Restaurant Week Roanoke, Virginia St. Patrick's Day Parade & Shamrock Festival Apartments in Roanoke, VA improve credit St. Patrick's Day Roanoke, VA apartments in Raonoke, VA The Cellar Door apartment community, VA college in VA St. Patrick's Day Parade Roanoke, VA Roanoke Fiversity Film Festival live music in Roanoke reviews of apartments in Roanoke, VA Best of Southwest Roanoke County fall festivals, Roanoke sidewalk sale Soup for Seniors season holiday events, Roanoke, VA reviews for apartments in Roanoke, VA reasons to rent Soup for Seniors expired prescription Big Lick Cocktail Classic Roanoke schools apartment reviews, Roanoke, VA tax free weekend fourth of July, Roanoke, VA do I need renter's insurance, Roanoke Best of Roanoke pet friendly apartments in Roanoke, VA rent free living, Roanoke, Va Relay for Life, Roanoke, VA super bowl party St. Patrick's Day events Roanoke, VA Thanksgiving expired medication Shamrock Festival Roanoke, VA Bluegrass festival #HowYouLive Deciding whether to buy or rent apartment decorating tips easy way to burn calories renter's tax deductions tailgating foods two bedroom apartment in Roanoke, VA Zombie Run cost of living in Roanoke apple recipes holiday events in Roanoke, VA Franklin County Agricultural Fair easy dinner recipes beer, Roanoke, VA pop culture events radical runabout hot weather and your AC St. Patrick's Day parade, Roanoke, VA gift ideas Apartments St. Patrick's Day, Roanoke valentines day date ideas do you need renter's insurance, Roanoke scary movies renting in Roanoke, VA Raonoke, VA Toy drive pumpkin chili recipe gaming events, Roanoke Veterans Parade, Roanoke Amazing Race hot crossed buns recipe VA wedding crawl Father's day grilled filet college dinner recipes renting or buying chocolate sunday festival science fiction convention teacher gift ideas veterans day parade Roanoke Restaurant Week home maintenance and repairs tailgating recipes rent or own Christmas Parade, Roanoke buy or rent pumpkin recipes Roanoke wedding venues renting vs buying Friday the 13th in Roanoke, VA dog park, Roanoke, VA tree lighting, Roanoke, VA Roanoke Tree Lighting holiday shopping events decorating tips rent or buy increase gas mileage, VA Roanoke Zombie 5k adopt a dog holiday entertaining tips college in Virginia Roanoke Craft Beer Tour Virginia wines why rent Apartment Living Roanoke Christmas Parade wine tasting furnished apartments, Roanoke VA Grandin theatre Roanoke, VA Craft beer events labor day festival St. Patrick's Day Parade dating, roanoke haunted houses in Roanoke, VA Shamrock Festival most romantic restaurants in Roanoke Pet Costume Contest, Roanoke Virginia wineries chinese new year, Roanoke new years resolutions apartment communities, Roanoke things to do in Roanoke using your AC Cocktail Classic, Roanoke, VA The Rockbridge Mountain Music & Dance Festival veterans parade top cities to retire FloyFest apartment decorating ideas one bedroom apartments, Roanoke VA benefits of walking renting is better pumpkin soup Snow Zone, Roanoke Roanoke music festivals renting Food Tour, Roanoke valentines day gifts how to improve credit score St. Patrick's Day, Roanoke, VA holiday cards for charity radical roanoke Halifax independence celebration tax deductions for renting rent or buy after college, Roanoke, VA Thanksgiving meals how to hang pictures apartment community, Roanoke VA chili cookoff in Roanoke, VA Roanoke Home and Garden Show relay for life Mill Mountain Theatre Greek Festival gas prices, VA St. Patrick's Day roanoke burn calories Avenel Plantation, Roanoke, VA how to get a job dinner recipes tips for green living in your apartment Father's day recipe how to burn calories valentines day gift ideas Bluegrass, andtiques and crafts festival apartments reviews in Roanoke, VA New Years eve music Roanoke holiday cards renters insurance Earth Day Roanoke festivals in Roanoke, VA relocating to Roanoke, Va gas mileage, VA holiday preparations tornado safety how to find the right apartment Honeywood Apartment reviews in Roanoke, VA Earth Day Festival, Roanoke Valentine's day gift ideas tax free weekend, VA Roanoke College Roanoke Wedding Crawl pet friendly apartments Roanoke, VA excuses to call in sick Festival 2013 Roanoke labor day looking for apartments in Roanoke, VA healthy habits how to meet friends Roanoke's 100 Miler MystiCon adopt a pet Honeywood Apartment Homes in Roanoke VA Roanoke Greek festival events in Roanoke, VA Mountain Magic In Fall, Bluegrass, Antiques and Crafts Festival Bluegrass, Antiques and Crafts Festival favorite non-fiction books strawberry festival in Roanoke, VA vote for the best of Roanoke, VA Sidewalk Art Show Craft Beer Tour Roanoke, VA apartment amenities farmers markets how college grads can get a job Virginia's Veterans Parade cities for retirement Honeywood apartments reviews cat adoption month HHHunt Apartment Homes Hollins-Mill Mountain Winter Festival of New Works super bowl recipes where to rent textbooks flu shots, Roanoke, VA renting in Roanoke Honeywood Apartment Homes support Roanoke college breast cancer events Roanoke, VA apartment reviews Mountain Music & Dance Festival creating healthy habits entertaining ideas cinco de mayo in Roanoke, VA Earth Day Festival Oktoberfest top places to retire apartment community, Roanoke veterans day pet health apartment in Roanoke, VA