Abberly Crest Apartment Homes

46850 Abberly Crest Lane, Lexington Park, MD 20653
Call: 833-336-7118 Email View Map

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

Lexington Park, MD Apartments Blog

Apartment Hunting in a City You Don’t Live in Yet

Joseph Coupal - Friday, March 30, 2018

Abberly Crest, Lexington Park, MDAre you facing the prospect of renting an apartment in a city you don’t live in yet? Renting a home without physically seeing it before you move in is not ideal, but it’s not impossible either. It just requires careful planning and a willingness to trust photos. Below are some ways to stay on top of the game and not lose out on your perfect rental—even from afar.

Research the local market

Familiarize yourself with the market you’ll be renting in. The first thing that’s really important is thinking about what area you want to move to and honing in on that. Talk to people who already live in the city of your choice and ask what neighborhoods they recommend. Then figure out what the rental process looks like there. Do listings become available months in advance, or do landlords wait to release them until the last minute? What standard amenities should you expect, and what might you expect to pay a premium for?

Seek out local blogs and real estate websites for up-to-date intel on the market. And, of course, scour online listings in the areas you are considering. By understanding the lay of the land as well as pricing in specific neighborhoods, you can rule out places with asking rents above your budget.

Consider your commute

If you’re moving to a new city with a job lined up, you should consider your commute from the get-go. Ask the following questions: What will the commute time be from any given neighborhood? Beyond miles and distances, what are the traffic dynamics during rush hour?

Understand your commute expectations because knowing what you’re comfortable with can almost create the search. Map the route from various neighborhoods to your future office space using a service like Google Maps, which will take into account walking, biking, driving, and public transit options. Find a reliable agent

If you can’t be there in person for the apartment hunt, you’ll want to make sure you have a solid real estate agent to stand in your place. Referrals are always a safe bet, but also find brokers with consistent listings in neighborhoods you’re interested in—because those will be the neighborhood experts. A neighborhood-focused agent will be on top of their game when it comes to available inventory in that area. They can also provide accurate information regarding pricing, neighborhood amenities, and commute times.

Once you’ve found an agent you feel comfortable with, make sure that they’re willing to work for a client who can’t be physically available. Be sure they are able to send photos of prospective apartments and also take you on video chat tours inside the apartment, through the building, and around the block.

Get all your documents in order

Once you’ve secured an agent, you’ll want find out what information landlords expect from prospective tenants. In competitive rental markets, that list might be long, so get these documents ready in advance and had them over to your agent as soon as you kick off your hunt. A complete renter’s profile may include pay stubs, credit checks, bank statements, and the like.

Research the building and landlord

Let’s say your broker has found a promising rental. There’s still research you can follow-up with online to make sure you’re as informed as possible. Look up details about the building, including when it was built, how many units it holds, and what amenities are included. And if the building is owned by a large management company, you can usually find online reviews about the company.

Be realistic about your apartment hunt

At the end of the day, when you can’t be present for your apartment hunt, there’s no guarantee that the search will go off without a hitch, so prepare to be flexible and willing to put a lot of trust in your agent’s judgment. And if a long-term rental solution isn’t working out, consider a short-term lease. Then once you’re in the new city, the search can begin again—in person.

This arrangement can be the safest best when you arrive without a job—and don’t yet know what your commute will be like. An interim apartment probably gives you the most flexibility. But of course moving twice isn’t fun.

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


Is it Better to Buy or Rent?

Joseph Coupal - Friday, March 23, 2018

Abberly Crest, Lexington Park, MDIs the American dream worth the hassle? Many debate the buy or rent question. Home ownership can eat up not only your free time, but your money as well. To find out, let’s look at it from the angles below.

Do the financial benefits outweigh renting?

The biggest consideration when deciding whether to rent or own is how much of an increase you will face in your monthly costs?

Remember that when you own a home, you also need to pay for homeowners insurance, all your utilities, as well as maintenance and repairs. Average those costs out over the year to figure out how much you will be paying a month on top of your mortgage (after paying routine bills, set aside at least $100 a month for future inevitable repairs).

How will it impact your quality of life?

Finally, we come to real meat. Truly the American dream. Or…

Do you need to devote every weekend to doing all the yard work and fixing things around the house? You could have someone cut that lawn, but all he does is mow the lawn, blow the cuttings and leaves around, and dig out your favorite plants to make you crazy. You still have to do the big things like trimming the growing trees and bushes, replanting the bulbs and plants, and fixing the sprinkler heads the gardener’s mower broke.

And of course, there’s the honey-do list. And with over 67% of U.S. states facing drought, water rates are rising. Then there is the painting and roofing to do, as the winds and erratic rains wear away layers of your paint, siding and roof. When you rent, the landlord takes care of that: You can leave for the weekend and forget about it.

Of course, when you own a home, you may have a community association’s covenants, conditions and restrictions (or CC&Rs) to deal with. You can’t paint your door that color; your Christmas decorations are too bold; your lawn needs tending; too many cars are parked out front. Things like that don’t seem to matter as much when you’re renting.

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


Market Watch

Reasons Why Military Should Not Buy A House

Joseph Coupal - Thursday, March 15, 2018

Abberly Crest, Lexington Park, MDRenting can be less expensive outright: Depending on the market trends on your area, you might be able to find a great rental for significantly less than a mortgage payment.

Houses cost more than they seem: Sure, there is the purchase price of the house -- and you're probably smart enough to calculate insurance and taxes into the total mortgage price. What is hard to calculate are all the other costs: window coverings, and extra insulation, grass seed, new furnaces, decorations, and all the other expenses that come with owning a home. You can say that you'll skip all that stuff, but you won't.

Things break, and housing won't come fix them: Keeping up with broken stuff can be tiring and expensive. And it is the last thing you need when dealing with extra stressors like deployments.

Orders are never written in stone: You know it's true. Those three year orders that actually last six months - not an urban myth. You never, ever know how long you are going to live somewhere. And knowing how long you will live somewhere is an important part of knowing whether a home purchase makes financial sense.

Sometimes houses don't rent or sell, even when they should: It is true that you can always find someone to rent or buy your house if the price is low enough. However, usually you are hoping that the price is at least enough to cover your costs. There are no guarantees, even for the most perfect house in the best school district around.

House prices don't always go up: Most have probably figured that out after the last few years. However, it can still be surprising for a generation who has experienced amazing increases in real estate values. Having an underwater house is a nightmare - you can't sell it because you owe more than it is worth, and you are stuck. Stuck is bad.

It is no fun to pay for a house in which you don't even get to live: There are more than a few people paying for empty houses back in the States. Their budgets are not fun. There's no eating out, no traveling, no souvenir shopping.

Tenants don't care for your house the way that you would: First, there is the economic side to this. Messed up houses cost money to fix. Then, there are the emotions. If you've gotten attached to a house, it can be physically painful to see that someone has not cared for it. And, the truth is, a tenant is almost never going to take as good care of a house as you would.

You can't always get leave to go deal with problems, and even if you can, who wants to use their leave dealing with a house? Flying 3,000 miles to go sell a house is not a good vacation. Neither is flying 3,000 miles to put in a new kitchen floor. In theory, a good property manager will make owning a rental property easy. The reality is that sometimes stuff is going to happen and it is going to need your personal attention.

Economic issues are the number one cause of marital problems: Maintaining a marriage in the military is hard enough. Who needs the stress of financial problems, too. Marriage is more important than owning a house.

Security clearances are affected by financial issues: While the security clearance folks have been stressing that a single real-estate related issue should not be enough to affect your security clearance, it sure doesn't help. If your job in the military requires a security clearance, you have extra incentive to make sure that your financial records stay neat and tidy.

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


Rates Are Low, But Houses Are Still Not Affordable

Joseph Coupal - Friday, March 02, 2018

Abberly Crest, Lexington Park, MDHomes for sale inventories are historically low, but the real issue is that home price growth and property taxes (based on your purchase price) makes buying a home unaffordable.

Even with historically low mortgage rates, the mortgage is only one component of home buying. Owners must:

  • pay closing costs
  • buy insurance
  • pay property taxes
  • maintain property (usually owners also modify home to meet their desires - renters do not)

Property taxes are a big deal. In most parts of the country, the longer you stay in your home - the property taxes remain moderate. But go out and buy a new home, and you will get a surprise with the increase in property taxes (even if you buy your new home for the same price you sold your previous one).

For first time buyers, not only are they surprised with the insurance and property taxes cost - but now they are faced with the time and expense of maintaining the property.

In 1972 Although interest rates were high, the home prices were about 2 times gross income. Closing costs were around $99. The median family today has income around $50,000 which would put the purchase price a little over $100,000 if the 1972 conditions could be teleported to 2017. Do you think the home ownership rate would skyrocket if $100,000 homes were available in 2018?

The home price / income ratio constrains more than half of the population from home ownership. The Federal Reserve’s Board of Governors recently released a report showing that, if confronted with an unanticipated $400 expense, nearly half (44 percent) of Americans would have to sell something, borrow or simply not pay at all. There goes the possibility of down payment and closing costs to buy a home.

What happened since 1972? The cost of a home has gone up 10 times. Construction material costs have gone up 5 times - but so has family income gone up 5 times. Construction labor has gone up 5 times. Property taxes have gone up 5 times. That leaves the cost of land and development as the bogeyman.

Home ownership is likely now out of reach for over half the population. And many who could afford housing do not want the headaches or the expense.

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


Abberly Crest Apartment Homes

46850 Abberly Crest Lane, Lexington Park, MD 20653

Call: 833-336-7118
(301) 863-0446 Email
View Map

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