Apartments Roanoke VA Blog

RSS Grab HWA RSS Feed

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


Tags

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

Archive