Abberly Crest Blog

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 Southern Maryland) 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."

For information on renting an apartment in Lexington Park, MD, contact Abberly Crest.

Wall Street Journal

There are all kinds of races coming up in Southern Maryland, and perhaps living in an apartment in Lexington Park, MD you are inspired to participate in one or two of them.  The spring is the time when community races, cancer walks and 5K’s start. Hopefully you are inspired to start running.

If you are interested in running one of these races successfully it is best to start training at least 8 weeks  or more in advance (training time required depends on length of race) to prepare your body. Watch the video below for tips.

It is always fun when a holiday falls on a Saturday and this year Cinco de Mayo falls on a Saturday which is perfect for a party with the kids.  Are you throwing a Cinco de Mayo party at  your apartment in Lexington Park this year? If so, here are some ideas.

Invite a few other families and let the kids get involved in the planning and decorating.
 
A pinata filled with candy or treats, streamers, maracas, and great food make the perfect party.

Kids and parents will have fun with a taco and burrito bar.  Kid-friendly rotelle cheese dip, doritos or nacho chips, and a seven layer dip, make a buffet everyone will enjoy.  For drinks, you can serve strawberry coolers and you are sure to have a fiesta.

Taco Bar
Brown 2 pounds of ground beef with 1/4 cup chopped onion until cooked through.  Add 2T of chili powder, 1/2t of garlic salt, and a 16-ounce can of tomato sauce.  Keep taco meat warm in a crockpot.  Serve with hard shell tacos and soft shell burritos.  Add bowls of salsa, grated cheese, shredded lettuce, and chopped tomatoes on the side.

Rotelle Cheese Dip
Cube a 16-ounce package of Velveeta and mix with a 10-ounce can of Rotel diced tomatoes and green chilies.  Heat in a small crockpot for an hour or in the microwave for several minutes until cheese is melted.  Serve with nacho chips or Doritos.

Strawberry Coolers
4C of fresh, rinsed strawberries.  Place two cups of berries in a blender, adding one cup of water and 1/4 cup of sugar.  Puree until smooth.  Pour into pitcher.  Repeat with remaining strawberries, cup of water, and 1/4 cup of sugar.  Refrigerate one hour and serve cold.  Makes six servings. (Add rum for the adults if you would like).

Have fun and Happy Cinco de Mayo.

Recipes from the Examiner

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

It is a perfect time to live in an apartment in Lexington Park, MD and to be an NHL fan. Are you routing for the Washington Capitals?

Alex Ovechkin and the Washington Capitals make it again to the quarter finals of the Stanley Cup Playoffs. Again with a formidable opponent, last year facing the Rangers, this year they are facing the Boston Bruins. The Bruins, of course are the defending Stanley Cup Champions. However, the Capitals have been tough on the Bruins this year.
 
The Washington Capitals have earned themselves this spot, and are again on a quest to have their most successful season in awhile, they haven’t made it through the second round of the playoffs since 1998.

How are you celebrating and watching the game on Thursday and for the rest of the quarter finals? Let us know! Don’t forget to show your spirit by wearing your Capitals jersey around Abberly Crest.

Having renters insurance can be very helpful if there is ever a disaster in your apartment in Lexington Park, MD. Here are a few basics about the benefits of purchasing renters insurance.

It’s affordable - The National Association of Insurance Commissioners estimates the average cost of renter’s insurance between $15 and $30 per month, or about $200 to $350 annually.
 
But you may want to pay more - Many policies don’t cover damage caused by natural disasters, such as floods or tornadoes. When you’re shopping for a policy, see what conditions might be excluded. You might choose to pay more to add additional coverage. You may also want to pay more to ensure your expenses are covered if you had to move out of your apartment while repairs were being made.

Your landlord’s insurance isn’t enough -  Any insurance held by the company owning your apartment community will cover the building itself, not the possessions within it. So if something happens to your apartment, you won’t be able to make a claim for your damaged goods if you don’t have your own policy.

Be sure you are covered when not at your apartment - Depending on your policy, you might be able to make a claim if insurance-covered items get stolen out of your car. If this is the type of protection you want, be sure you have it when shopping for renter’s insurance.

All your possessions will be insured together -  Instead of listing individual items, you’ll be insured for a lump sum. Because of this, it may be a good idea to update the value insured on your policy when you make significant new purchases. For a higher premium, you may also be able to choose insurance which covers actual replacement cost. Consider this option based on the potential cost of replacing your most expensive and valuable possessions.

Renter’s insurance covers more than just your belongings - If someone trips and falls in your apartment, renter’s insurance will provide coverage of your potential liability. Even if you don’t have much stuff to insure, liability coverage may be reason enough to consider renter’s insurance.

Moving Today

It does not matter where you live, in Washington DC or in an apartment in Lexington Park, MD, If you suffer from insomnia, it can really take its toll. However, sleep aids are not always the answer. It may be where you are sleeping that is the problem. Here are some tips that can help you get a better night’s sleep.

As the days become longer, you don’t want those rays of early morning light to steal the last few hours of sleep you need. Blackout curtains or shades block out any light.

Keeping cool at night makes for better sleeping conditions too. People sleep better when it is cooler at night, so program your thermostat between 60 and 68 degrees. You will sleep better and conserve energy.

You need to be comfortable. A new mattress may be necessary for some, but sometimes all that is needed is a mattress pad. Pillows with polyester stuffing tend to wear out after a year, so try a new pillow too.

Sometimes, soundproofing is a good idea. Try a white noise machine which can replace the sounds of outside life and neighbors.

Did you know that you should not use your bedroom as a TV room or office? When you use your bedroom for other things, your brain associates your bedroom with activities other than sleeping, which may be what’s keeping you up all night. Give your brain the chance to wind down before bed and don’t use the computer or watch TV.

Fox news

Many people are told when they are younger that renting is only for college graduates or people who cannot afford to buy.  Many parents hammer these ideas into their children and tell them that renting is equivalent to throwing money away every month.  Fortunately, today people are beginning to finally think for themselves and challenge these ideas.  Here are 4 reasons to pat yourself on the back for deciding to rent an apartment in Lexington Park, MD at an HHHunt Community!
 
1.  Renting can save money

At the very minimum you’ll be shelling out PITI for your home. That is:

1. Principal
2. Interest
3. Tax
4. Insurance

The PITI doesn’t include property maintenance like maintaining the yard, paint, plumbing, repairs, decorating, etc… When you rent an apartment in Lexington Park at an HHHunt community, the monthly payment is almost always quite a bit less than the PITI in your area and there are no maintenance expenses!

2. Homeowners’ tax deductions are overstated

According to research quoted by MSN, “… half of homeowners don’t get a break, because even with mortgage interest and property taxes, their total deductions do not exceed the standard federal tax deduction ($11,900 for couples and $5,450 for singles)”.

For these folks, it’s like spending $100 to save $20. They’re better off saving the difference and investing it.   Even if there is a “break” on your taxes, you typically had to spend more than you would have spent to rent to get back that $20 for every $100 spent in interest payments.

3. Renting gives you flexibility

For the up and coming young professional, you’re better off renting and saving for a few years than to buy a small condo. Who knows how fast you will outgrow it?  When you own a home, you can’t always sell it when you need to sell it at the price you want to sell it in order to accept a new employment opportunity.  If you have owned a home and don’t want the constant maintenance responsibility, renting gives you the opportunity to enjoy your weekends instead of completing that “to do” list.

4.  Our superb service teams!

Most apartment communities offer 24 hour emergency maintenance and technicians who are skilled in HVAC, plumbing, and electrical.  At an HHHunt Community, our service teams take great pride in offering prompt and professional service to you.  Whether you need a light bulb changed or a new compressor for your AC unit, we are there to take care of you as fast and efficient as possible.  We are always a phone call or email away and most service requests are performed on the same day or within 24 hours!

It is the New Year, and for the residents of our apartments in Lexington Park, MD this is the perfect time to get a fresh start. New Year’s Resolutions are the topics of conversation this time of year. But food may certainly give you a leg up in the luck department.

There are quite a few foods that are believed to be lucky and to improve the odds that next year will be a great one. What is interesting is that all over the world the foods eaten on New Year’s Eve consist of the same major categories: grapes, greens, fish, pork, legumes, and cakes.

Grapes
New Year's revelers in Spain consume twelve grapes at midnight—one grape for each stroke of the clock.

Cooked Greens
Cooked greens, including cabbage, collards, kale, and chard, are consumed at New Year's in different countries for a simple reason — their green leaves look like folded money, and are thus symbolic of economic fortune.

Legumes
Legumes including beans, peas, and lentils are also symbolic of money. Their small, seed-like appearance resembles coins that swell when cooked so they are consumed with financial rewards in mind.

In Italy, it's customary to eat cotechino con lenticchie or sausages and green lentils, just after midnight

In the Southern United States, it's traditional to eat black-eyed peas or cowpeas in a dish called hoppin' john.

Pork
The custom of eating pork on New Year's is based on the idea that pigs symbolize progress.

Fish
Cod has been a popular feast food since the Middle Ages. The Danish eat boiled cod, in Italy, baccalà, or dried salt cod, is enjoyed from Christmas through New Year's; herring is consumed at midnight in Poland and Germany; the Swedish New Year feast is usually a smorgasbord with a variety of fish dishes such as seafood salad. In Japan, herring roe is consumed for fertility, shrimp for long life, and dried sardines for a good harvest

Cakes
Round or ring-shaped baked goods have special emphasis at New Year’s.

If you are looking for a recipe to bring to a New Year’s Eve party in Lexington Park or somewhere else in Southern Maryland this weekend, bring some food with luck! Happy New Year from Abberly Crest Apartment Homes.

The housing market is stagnating right now and real estate brokers would have potential buyers believe that there is no better time than the present to buy a home. It is true, prices are down and mortgage rates are at all-time lows.

Unfortunately for the real estate brokers, many clients are not persuaded by that logic. Instead, in increasing numbers, they are choosing to rent instead of buy — unconvinced that the housing market has yet hit bottom. Would be buyers also understand that unless you plan to stay in your home for more than 10 years, buying a home may not be the right investment for everyone.

With apartments in Lexington Park, MD , located near the Patuxent River Naval Air Station and St. Mary’s College, offering apartment amenities that can’t be found in homes, renting is a great option for many. There is also a broad mix of tenants at Abberly Crest Apartment homes: young single residents and families and empty-nesters that no longer have homeownership on their wish list.

For information on beautiful one-, two-, and three bedroom apartments in Lexington Park, MD contact Abberly Crest.