Abberly Crest Blog

Low mortgage rates and more affordable home prices in  Southern Maryland 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 Lexington Park, MD. 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 blower or other yard 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 home ownership 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 Abberly Crest Apartment Homes.

SF Gate

You are hosting the 4^th of July BBQ. You have ribs, chicken, potato salad, six different kinds of cake, and nothing healthy for the kids or anyone else for that matter. You don’t want to put on ten pounds in one weekend. As well, you want the kids to eat healthy, which is hard enough as it is especially since; you know the kids are good for hiding their fruits and veggies in their napkins and disposing of them. Take one of your cakes off the menu and replace it with this. It will look so cool to kids they will eat it up.

Fourth of July Flag Recipe

1. Cut in halves the strawberries and 58 banana slices.
2. Squeeze lemon juice on the banana slices and then place the strawberries on top of the bananas,
3. Arrange 30 large blackberries, as shown, in the upper left corner of a serving tray or cutting board (it should be at least 8 by 13 inches).

Ingredients

• 29 large strawberries
• 30 large blackberries

• 7 or so large bananas
• Lemon juice

Now the website where I got this recipe is going for a different look than the picture shown here; so please click on the highlighted link above for more pictures and tips.

401k?

When considering a new job there are a lot of factors you should consider. The position being the most important factor because you want to make sure you are doing work you enjoy. Second to the type of work, is your salary. You cannot be that happy if you cannot live a comfortable lifestyle. However, aside from the two most important factors, you must review your benefits. When I speak of benefits I am not just speaking of health and medical insurance. Although, that is definitely at the top of the list for most important benefits. I am speaking of things that I believe most people do not think of when selecting a new job or a new company.

5 Must Have Benefits:

Health Care – This is critical. You want a company that will insure you from day one, so will not have any lapse in health care coverage. There are companies that have unlimited sick days, cover you and your family from your date of hire,  and pay 100% of your health insurance premiums.

Work Life Balance – Studies have shown that employees are happier and more productive when they have a healthy balance between work and home. Work life balance means a healthy amount of time for vacation each year. Some of these companies allow employees 32 vacations days per year. These companies are profitable and their employees are happier.

 Investing for Your Retirement – Picking a company that helps you plan for your retirement is smart. Choose a company that matches your 401K investments and make sure you max it out each year to take full advantage of this benefit. Check to see if they offer a pension plan. Most companies do not, but the ones on this list do.

 Continuing Education –You paid for your undergraduate degree to get your foot in the door. So why not join a company that will help you further your education with tuition reimbursement or a tuition assistance program. The more education you acquire the more valuable you are to your company. The company may require you to commit so many years to them, but if you enjoy your work responsibilities, the office environment and culture, plus the great benefits, you would not have a reason to leave.

 Telecommuting – Nowadays, the work a lot of us do can be done from home. Giving your employee the option to telecommute so many days per work increases work-life balance, saves on gas, and provides the employee with additional time to spend on work because they are not stuck in traffic. I would love to get rid of traffic.

What I have learned is that most companies offer these benefits, but read the fine print. Do you have to be employed with them six months to a year before you have access to any of the above benefits? Do you get a healthy amount of vacation time? Do they match your 401K? Your company may offer benefits, but the key is you want a competitive benefits package. For a full list of companies with the best benefits and the most unusual benefits click here.

Welcome to your new virtual gathering place…
a community blog for the residents of Abberly Crest

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• tips to make the most of your community and your apartment lifestyle
• great places to go around town
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• updates from the management team, and much more!

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