Abberly Crest Apartment Homes

46850 Abberly Crest Lane, Lexington Park, MD 20653
Call: (888) 767-5280 Email UsAbberlyCrest016@myLTSMail.com View Map

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Lexington Park, MD Apartments Blog

Questions to Ask Yourself Before Thinking About Buying – Lexington Park, MD

Joseph Coupal - Friday, May 19, 2017

Abberly Crest, Lexington Park, MDWe make small decisions every day, like what to wear to work or to a night on the town. Bigger decisions usually take more time to sort through, such as when it's the right time for you to buy a home. While you probably don't need help choosing an outfit every day, you can get help with your home-buying decision.

Am I staying put? If you think you might move somewhere else soon, it's probably a better bet to rent for now. Buying and selling a home in such a short period can be time consuming and often doesn't make financial sense.

Where do I want to live? Do you like the neighborhood that you live in? Or are there other areas of town that you could explore?

Do I have enough money for a down payment? Most conventional loans require a down payment. Many home buyers place a down payment of 10% to 20% of the purchase price. For a $150,000 home, that's $15,000 to $30,000 in cash. Having enough money for a down payment usually means better loan terms and a lower interest rate on your mortgage loan.

Can I afford the cost of owning a home? There's more to owning a home than paying a mortgage. You'll want to consider property taxes, maintenance costs, renovations and possibly even new furnishings. The cost of home maintenance and repairs is usually one of the biggest surprises for new homeowners, who may be used to a landlord fixing issues.

When you're creating your home buying budget, include the cost of regular home maintenance and unanticipated problems. One way you can become acclimated with these costs is to test out a homeowner's budget while you're still renting. Then, assess how those potential costs affect your budget.

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

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chron.com


Why Retire in Lexington Park, MD

Joseph Coupal - Thursday, May 11, 2017

Abberly Crest, Lexington Park, MDNearly 100 years ago, a reporter for National Geographic nicknamed Maryland “America in Miniature” because of its varied landscape, and to this day the name has stuck. You can ski in the mountains in the west, sail on the Atlantic Ocean in the east and hike through lush, creek-lined rolling hills in the middle of the state. One of the big pluses of retiring here is that geographically it is a very diverse state.

Though Maryland is one of the smallest states in the nation, those seeking to retire near water have more options here than in many other states.

Maryland touches three major bodies of water—the Chesapeake Bay, the Potomac River estuary and Atlantic Ocean—and the state boasts roughly 4,000 miles of shoreline, 400 lakes and dozens of rivers and creeks. For retirees, this means easy access to activities ranging from fly-fishing and boating to kayaking and canoeing.

The weather tends to be mild and the cultural opportunities, abundant. Baltimore, which is undergoing substantial revitalization, has an opera, symphony and local theater; Annapolis, the state capital, is home to more 18th-century brick buildings than any other city in the nation as well as myriad museums; and many residents of the state are just a short drive or train ride from Washington, D.C.

Living in Maryland, however, can be expensive. It's not a cheap tax state. Sales taxes tend to be higher than average, estate taxes are high, and Maryland’s General Assembly recently raised the gas tax.

On the flip side, Maryland residents tend to be able to afford it: The state boasts one of the highest median incomes in the nation, and Potomac, near Washington, D.C., has the highest median income of any community in the nation.

For more information on apartments in Lexington Park, MD contact Abberly Crest.

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marketwatch.com


The Benefits of Living in Apartments with Kids – Lexington Park, MD

Joseph Coupal - Friday, May 05, 2017

Abberly Crest, Lexington Park, MDHere are a collection of perspectives from renters with families on their experiences with the benefits to living in an apartment. This is what apartment dwellers with children do to make it work for them.

Family Time Abounds

There are several advantages to living in an apartment with school age kids. The biggest one was the fact that without the upkeep of a house, there is so much more extra time to spend quality and quantity time with the kids. Also, because there is no space to stash a lot of items, so you spend less money. If you don’t pay for a storage space, you must always consider where an item would fit before a purchase. Finally, the complex can have several amenities, including a pool, a playground, and an exercise facility. Therefore, there is easy access to free entertainment, which is something that every parent of a young child appreciates.

More Resources for Children

Cities often have wonderful resources for children that are not so easy to find in a small town. Search out the city's library. It will most likely have wonderful programs for children, such as "story times." This also gives the parent a chance to meet other parents who have young children and to make new friends.

A Quick Call to Maintenance

With young kids you can really appreciated the security of living in an apartment complex. If there was a plumbing problem or a broken appliance, a phone call took care of everything. You develop relationships with the management and maintenance staff, as well as our neighbors.

The Benefits of Cultural Diversity

There are a lot of advantages to city apartment dwelling.

  • No lawn care or housing repair costs
  • Extensive public transportation with no real need for a vehicle
  • Cheap and free cultural activities abound.
  • Cities tend to attract colleges, which mean free or cheap college events, babysitters, and adult evening classes.
  • In a city situation, you have neighborhoods. Visiting them is a great way to experience new foods and cultures without going far.

Ethnic neighborhoods sprout ethnic groceries as well, which tend to be cheaper on certain items.

For more information on apartments in Lexington Park, MD contact Abberly Crest.

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stretcher.com


The Benefits of Renting May be Underrated – Lexington Park, MD

Joseph Coupal - Friday, April 28, 2017

Abberly Crest, Lexington Park, MDFor years people have believed that it is better to own a home rather than rent one due to financial benefits, but it turns out that the benefits of renting a home may be underrated.

According to recent research the prospect of no longer having to pay rent, known as imputed rent, is often cited as a major incentive to owning a home. But buyers overlook costs included in their rent, such as building insurance and property maintenance and this failure to properly account for these outgoings can cause householders to overestimate the financial benefits of owning versus renting.

Individual circumstances and market conditions play a big part in determining whether it is smarter to rent or buy, but this research should help households, financial planners and policy-makers make an informed choice.

The study offers a step-by-step explanation of how households can objectively compare the costs of renting versus buying a home, while taking their own personal circumstances and macro-economic conditions into account.

In reviewing transaction costs, imputed rental yields, opportunity costs, inflation and the length of time owning a home, the study also shows that — during periods of deflation or zero inflation — people who rent are financially better-off than those who own their home.

Even when economic conditions are favorable, households may need to own their home for between five and 10 years before returns from the rent they are no longer paying are sufficient to compensate for the high transaction costs of buying. However, increases in inflation and imputed rent, tip the balance in favor of ownership.

It is often thought that buying a house makes more financial sense in the long run: however, renting is frequently more worthwhile than buying for financially-constrained households, as well as households likely to relocate within 10 years.

As well as a reduced ability to recover transaction costs, households relocating within a few years face a higher risk that medium-term prices will move against them, thus reducing or eliminating their equity, while financially-constrained households face much higher mortgage costs.

For more information on apartments in Lexington Park, MD contact Abberly Crest.

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The Edition Time


Should I Rent or Buy? Questions to Ask – Lexington Park, MD

Joseph Coupal - Friday, April 21, 2017

Abberly Crest, Lexington Park, MD“Should I buy a house?” This life-changing question is not something you casually ask the magic eight ball and get hit with a vague answer like, “Concentrate and ask again.” Instead, there is an empirical way to find out if you should buy a house or rent an apartment in Waldorf, MD. Ask yourself these questions below.

Question No. 1: Can I afford a home?

The first step is to find out whether you can buy a house given your current financial situation. A calculator will help you figure out just how much house you can afford. However, a rule of thumb is that you should spend no more than 33% of your income on housing.

Question No. 2: Is it better for me to rent or buy?

The whole “rent or buy?” question depends on which housing market you’re in, because inventory can make a huge difference.

Question No. 3: How long can I stay put?

Generally the longer you live in a home, the smarter it is to buy rather than rent. Short-term stays? Renting might make more sense. The reason: When you buy a home, you’ll pay closing costs that can total thousands of dollars, plus most of your early mortgage payments go toward interest rather than whittling down the principal (the actual amount you owe on your home). As a result, as a rule of thumb, home buyers should plan to stay put at least five years. If you might move before that point, you should stick with renting instead.

Question No. 4: Are my retirement savings on track?

We know, retirement seems a long way off. Still, it’s crucial to start storing those nuts early. So if you’re neglecting your 401(k) to funnel all your funds toward a home purchase that may not be the best allocation of resources (particularly if your employer matches funds, which is free money). Another reason: Setting aside money in a retirement account must be done the year you earn that income; you can’t go back later with a wad of cash and hope to squeeze it in.

When in doubt on what to do, consult a financial adviser who can help you strike a balance between saving for a house and your future simultaneously.

Question No. 5: Am I ready for the responsibility?

With rentals, you can just call your landlord to fix that leaky faucet. With a home you own, it’s all on you. So ask yourself if you’re willing to forgo weekend bar crawls with friends in lieu of mowing the lawn or patching the roof.

Ask yourself the following: “Do I have the time, resources, and desire to take on home maintenance and repairs as well as yard maintenance?” For more information on apartments in Waldorf, MD contact Abberly Square.

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realtor.com


15 Reasons Why Renting Is Better Than Buying – Lexington Park, MD

Joseph Coupal - Friday, April 14, 2017

Abberly Crest, Lexington Park, MDFor many, renting a home is just a temporary stop on the path to home ownership. It’s the standard argument: Why throw away money on rent that could be used to build home equity?

But these days, the renting narrative is changing. Millennials are not investing in homes like we thought and the housing market is far from “fixed.” The industry leaders advertise a sellers’ market, meaning homeowners can expect to see multiple offers on their homes as the inventory remains low. While that’s great for homeowners, it means home buyers can expect dangerous bidding wars and price increases.

For that reason, many people are putting the American dream of picket fences and front porches on hold and choosing to make one of their smartest decisions to date. It’s a personal decision to rent or buy, but there are many pros to renting your next home rather than buying.

Here are 15 convincing arguments for renting a home — and they’re not all financial.

1. Buying and selling a home is difficult for everyone involved

Selling or buying a home is more stressful than bankruptcy, divorce, and the loss of a loved one, according to one poll. Homes are on the market for an average of four weeks, and 37% of sellers reported reducing the asking price at least once. Plus, if you’re in a long-distance relationship, do yourself a favor and rent. A 12-month lease is a whole lot easier to break or buy out than a 30-year mortgage — nevermind the added stress moving can place on an already suffering relationship.

2. Property taxes can kill you

Many homeowners are unaware of unexpected costs that come with owning a home of your own. Fees, such as property taxes, insurance, and maintenance, add up quickly. For landowners in Hawaii, the property tax on a home worth $179,000 will do little to raise eyebrows, amounting to only $487 annually, according to WalletHub. But those in New Jersey are stuck paying a tax rate of 2.35% that equates to $4,189 annually on a house of the same value. Taxes can fluctuate, but rental terms are consistent across the duration of your lease.

3. You can take time to repair your credit

Irresponsible spending habits in college and those sneaky credit card scams will haunt you for years. Sometimes, it can take more than seven years to fix your credit. If you’re in the bad-credit club, like one-third of the American population, it might be best to rent rather than buy. Those with low credit scores will find buying a home laborious, and it’ll be wise to wipe clean those credit blemishes before jumping onto the buying scene or making any substantial purchases in general. Renting to re-establish a solid payment history can be a good way to bide your time.

4. You’re financially unable

Those with irregular incomes, such as freelancers or small-business owners, prefer renting as a more stable monthly option. Homeowners are at the mercy of Freddie Mac and Fannie Mae — and who knows what their future plans are. Today, mortgage rates are still low, hovering around 4%. But before you think our nation’s real estate woes are over, remember the average 30-year fixed-rate mortgage was under 3.75% in summer 2016. Then, it shot upward after the presidential election and averaged 4.24% in December. If you’re still unsure about your ability to overcome any potentially rocky housing trends, consider renting while establishing a bigger emergency fund.

5. You remain flexible

Buying a home means choosing a location we want to plant roots in for at least a few years. For those who aren’t exactly sold on their current living situation, investing in real estate would be a mistake. Mortgages and other ownership obligations are like concrete shoes — don’t expect to pick up and move anytime soon. When the opportunity comes to accept your dream job on the opposite coast or marital bliss rides on relocating to another city, the last thing you want to do is get bogged down in selling a home.

6. Maintenance issues are not your problem

Flat head or Phillips. Socket verses pipe. If you have no answer, you might want to rent your next dwelling. Not all of us were blessed with the handy gene. Homeowners are often forced to fork over a sizable chunk of their savings to make impromptu and unexpected home repairs. But renters only need to place a call to their property managers when the sink drains are clogged or the dishwasher gets finicky.

7. Upkeep is less expensive

Say goodbye to weekends filled with long afternoon brunches and lazy days at the pool. That large backyard that originally sold you on your property? Well, it needs to be mowed — again. And last week’s storm really did a number on your gutters over the garage. Homeowners don’t have the luxury to bypass time-consuming chores that renters ignore. And renters need not worry about general housework and upkeep required of homeowners.

8. It makes filing taxes harder

If you think taxes are intricate now, wait until you buy a home. Yes, there are some valuable tax breaks homeowners receive, but processing mortgage interest deductions, home repair expenses, and rental income takes considerable time. That’s something renters don’t worry about. In fact, renters are already out socializing care-free, knowing their refund checks are already on their way.

9. There are options for roommates

Roommates are a great option if you’re looking for help shouldering the cost of living expenses. Having someone around to split the cable bill and vent about workplace drama is great, but with homeownership, one person is responsible for the payment at the end of the month. So when that flaky roommate is late on rent, the difference must be made up elsewhere. Apartment complexes, on the other hand, are experienced working with multiple tenants in one location and offer options for individual leases.

10. You have more access to amenities

Yes, you might enjoy the peace and quiet of a home in the country or a friendly neighborhood environment in the ‘burbs, but you’ll miss other amenities. Renting in a community allows you access to things, such as a community pool, fitness center, dog parks, and Wi-Fi. If you still want access to these perks after leaving the comfy confines of rental agreements, you’ll need to shell out serious dough.

11. You can grab cash bonuses

Many rental communities offer additional cash bonuses if you work for local companies. If you’re a local employee, you might be eligible for rental stipends or bonuses just for working close to home. Check to see whether your employer is on the list of nearby companies to max out every discount and money-saving trick in the book.

12. Urban living at a cheaper price

It’s been said millennials prefer city living over driveways and acreage, but they are unable to afford the fees that accompany urban life. Living near universities and vivacious night life is not cheap, and purchasing an Instagram-worthy loft is a merely a pipe dream for some. Depending on where you want to live, trendy areas, such as warehouse or arts districts, major cities, and beach communities, are typically more renter friendly. Finding affordable homes to buy might require moving into less popular areas.

13. There’s better security

Gated communities come at a high price, but most rental complexes have security features already included in their agreements. This is a welcomed benefit for women, single renters, or tenants living in urban environments. Homeowners will find neighborhoods with these extra precautions come at a price.

14. You remain adverse to risk

Financial advisers might say we must “risk it to get the biscuit,” but that’s easier said than done in a housing market that’s seen so much variation lately. Therefore, many are choosing the safer option to rent rather than investing in real estate. In addition to affordable prices, renters are also adverse to potentially debilitating changes in the housing market. Although experts are showing a recovery, a better, more accurate description is stabilizing. Words, such as “foreclosure” and “mortgage rates,” are still often paired with phrases of uncertainty. And that’s worrisome to fiscally conservative Americans.

15. You have the ability to invest elsewhere

It’s recommended home buyers put 20% down on a home to avoid being house poor. Even when considering upfront rental fees and deposits, it’s still cheaper than the tens of thousands of dollars it takes to buy a home. Some renters might already have potential savings stacked away for this very purpose, but with other uncertainties and future questions, it might be best to invest that money elsewhere. A few grand could do wonders for your future retirement or help hack away at those student loans that still burden you.

For more information on apartments in Lexington Park, MD, contact Abberly Crest.

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cheatsheet.com


Baby Boomers Are Renting and Living Like Millennials - Lexington Park MD

Joseph Coupal - Friday, April 07, 2017

Abberly Crest, Lexington Park, MDBaby boomers and millennials — could they be more different? The former are in or nearing retirement, while the other group is ambitiously rising in the workforce. Many millennials are waiting to marry and have kids, while their dear old boomer parents, quite possibly divorced by now, were comparatively eager to settle down in their twenties.

Is there any common ground between these two demographics who, rivaling in size, are so often pitted against one another? Research shows that in fact, yes, in many ways millennials and boomers are similar, not only in values but in other matters including finance, living situations, and even online presence.

Renting — and Getting Roommates

Last year, home ownership rates in the U.S fell to a historic low, and while millennials — who are less likely to buy than previous generations — are partly to blame, the surging interest among boomers to rent rather than own mustn't be discounted.

A 2015 study by the Joint Center for Housing Studies at Harvard University found that families or married couples ages 45-64 accounted for roughly twice the share of renter growth as households under the age of 35.

Like millennials, boomers are affected by increasing rents in "hot housing markets. With renters paying increasingly higher rents than ever before, both millennials and boomers are having to adjust their definition of affordability. For example, boomers who grew up with 'the 30 percent rule,' find the new standards of rental prices to be especially unaffordable.

To manage high rent, baby boomers are increasingly open to living with roommates.

Interestingly, it's not just money concerns that motivate boomers to take on a roomie or two. Sometimes, social factors are at play.

Like millennials who choose to live with others for social reason, boomers do the same. In fact, we found that many boomers choose to share living accommodations even though they can afford to live alone.

For more information on apartments in Lexington Park MD, contact Abberly Crest.

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NBC News


It is Cheaper to Rent than Own in Every State, Including Yours - Lexington Park, MD

Joseph Coupal - Friday, March 31, 2017

Abberly Crest, Lexington Park, MDOwning a home is often considered the American dream — and it’s an expensive one. Homeowners in all 50 states and Washington, D.C., pay from 33% to 93% more for housing each month than do renters living in the same state, according to a new NerdWallet analysis.

But many homeowners reap benefits that you can’t get from renting. The equity you build can be leveraged for loans that can be used to improve the home and boost its value or be used in financial emergencies.

While renting can’t offer thosefinancial benefits, it’s cheaper to rent on a month-to-month basis. If you’re wondering how to save money for a down payment, renting can help you build that nest egg — but in extremely expensive or competitive markets, renting might be better for the long haul.

To determine the monthly homeownership premium — the additional cost of owning instead of renting, expressed as a percentage — NerdWallet compared 2015 American Community Survey data from the U.S. Census Bureau for the median gross rent and median homeownership cost in each state and Washington, D.C. Median gross rent includes the costs of monthly rent and utilities for all kinds of rental properties, and median homeownership cost includes monthly mortgage payments, real estate taxes, insurance and utilities. This comparison doesn’t include the down payment required to buy a home, which is traditionally 20% of the home price for conventional mortgages, but is lower for FHA or VA loans.

Key takeaways

  • Owning is more expensive everywhere. Across all 50 states and Washington, D.C., it costs more each month to own a home than to rent. The median cost people pay nationwide to own a home is 54% more than the median cost to rent each month.
  • The smallest difference is still a third more to own.
  • In some states, the cost of owning far eclipses renting.

State: Maryland
Homeownership Premium: 49%
Median Monthly Cost to Own: $1909
Median Monthly Cost to Rent: $1278
Difference: $631

For more information on apartments in Lexington Park, MD, contact Abberly Crest.

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NerdWallet


Apartment Hunting Mistakes to Avoid – Lexington Park, MD

Joseph Coupal - Thursday, March 16, 2017

Abberly Crest Apartments, Lexington Park, MDHere are a few common mistakes you can avoid when looking for a new apartment. Avoid these mistakes you will be able to choose the right apartment. Are you searching for a new apartment? If you don’t know the tricks to buy or rent an apartment let us help you. Here’re a few common mistakes you can avoid when looking for a new apartment. Avoid these mistakes and you will be able to choose the right apartment at your desired location at an affordable price.

Never fall for an apartment that looks good in appearance. If it is an older apartment, then look for wood. Even if the locality is impressive, you should first have a look at minor things such as the kitchen, walls, etc. Anybody can make their apartment to look good when people come to see it. They can easily hide the flaws. But, you should investigate the place properly instead of falling for it in a second.

When looking for an apartment, whether for purchase or rent, you should consider your neighborhood and neighbors as well. After all, your neighbors will be sharing the same place with you. You do not want to feel uncomfortable in the neighborhood and with the neighbors. In most cases, neighbors tend to stay in contact frequently. In this situation, you would wish for good neighbors.

Once you have set out for this hunt, you first must make sure what your budget is. You might not be able to choose the right apartment for yourself without budgeting. What if you could pay the rent later? It will create more difficulty in moving in and out frequently. Therefore, it is better to know how much money you should keep for this purpose.

Make sure you check the reviews regarding the place or apartment itself. You may check the reviews online. Or in other cases, you may have a chat with some existing neighbors who are willing to share their knowledge. Get histories regarding the place and who used to live there. Make sure you go into every detail.

Look over the place for signs of damage. For example, you would want to check out all plumbing areas, taps, sewerage system, bathrooms, kitchens, gas line pipes, water pipes, etc. There are going to be many things on the list that should be viewed. A person purchasing or renting an apartment should inspect these areas so that they have no difficulty once they are living in there.

You should determine the purpose for moving to a new apartment. It might be for you and members of your family or for some other reason. Identify the purpose and then choose the place.

Believe in your instincts while choosing an apartment so the place is going to be right for you in the future. If you follow these tips, you will certainly have a good experience in your new apartment.

For more information on apartments in Lexington Park, MD, contact Abberly Crest.

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newswire.net


Advantages of Living in an Apartment – Lexington Park, MD

Joseph Coupal - Friday, March 10, 2017

Abberly Crest, Lexington Park, MDAn apartment is a great home option, whether you have just started a graduate job, moved to a big city, or just want to downsize your property. When making the decision to live in an apartment, it’s important to take into consideration all the pros and cons. It may be that your lifestyle and situation point clearly to the best option in terms of a house or apartment. Sometimes the decision isn’t that easy, so if you are still trying to work out which option is best consider these advantages of living in an apartment:

Location

If you don’t have a car then the location of your home could be crucial. If you are starting a new job or need to be in the city center, then an apartment is likely to suit you better than a house.

It’s much easier for an apartment complex to afford to be in a desirable city location, whereas houses are much more expensive. Living in an apartment can be very beneficial if you want to walk to work, and is great if you want to experience a city’s nightlife just a short way from your home.

Amenities

Many people would love to have a home with a swimming pool, gym, and tennis court, but the reality is most wouldn’t be able to afford it. The great thing about an apartment complex, especially a big one, is that they often come with all these things.

Owners of large apartment complexes will often reinvest some of their rent money into creating these luxury amenities, in order to retain existing clients and attract new ones.

Security

When moving into a new property it is important to feel secure. One big advantage of living in a flat or apartment is the availability of several layers of added security, especially in a gated complex.

There is a usually a code to get into the building, CCTV cameras around the entrance, and apartments off the ground floor. Most houses just have an alarm and a lock on the front door.

Commitment

If you are just starting your career or moving to a new city, you may not know exactly where you want to live. The great thing about apartments is that you can usually get relatively short-term contracts.

Many landlords offer yearly contracts, and once they are up you can sometimes ask to keep them rolling – this gives you the freedom to move out with just one month’s notice if you want to change location.

Costs

There are usually less costs involved when living in a flat. You don’t have to worry about the structure of the building, as the owner of the complex is responsible for that, and many other repairs are usually not up to you to pay for, especially if you are renting.

The rent of an apartment is usually cheaper than the mortgage in a house too, and if the square footage is smaller you will have cheaper living costs, such as gas, water, and electricity.

For more information on apartments in Lexington Park, MD, contact Abberly Crest.

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Hunters



Abberly Crest Apartment Homes

46850 Abberly Crest Lane, Lexington Park, MD 20653

Call: (888) 767-5280
(301) 863-0446 Email UsAbberlyCrest016@myLTSMail.com
View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 12P-4P

$1,268-$1,699