Auston Woods Apartment Homes 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 home ownership 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 Charlotte) 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 Charlotte, NC, contact Auston Woods.

Wall Street Journal

It is that time of year again for residents of apartments in Charlotte. Alive after Five is back to Thursdays at the EpiCentre.

Charlotte starts it’s weekend on Thursdays beginning in May with Alive After Five. Around here, this is considered the largest weekly happy hour and free entertainment celebration which provides a destination for friends to gather and unwind, while enjoying great live music, tasty beverages and a fun, casual atmosphere.

To top it off, the EpiCentre is close to great restaurants, bars and shopping, so you can begin your night at Alive After Five and continue on for more nightlife and entertainment.

Official after parties are held at Whisky River, Suite, Vida, Strike City and BlackFinn. Wristbands from Alive After Five will allow guests free entry into after parties.

Can't get enough live entertainment? Then check out "MetLive: Music on the Greenway" each Thursday or NC Music Factory's "Friday LIVE! at the Factory" and Piedmont Town Center's "Concerts in the Round" each Friday.

More info on live entertainment and Alive After Five at Charlottesgottalot.com

It is May, and if you live in an apartment in Charlotte, NC you know what that means. May is NASCAR month in our city.
 
Each May, NASCAR takes the stage in Charlotte and all things involving speed and racing rule.  The action takes place at Charlotte Motor Speedway for the NASCAR Sprint All-Star Race on May 19. This race is the best of the racers, and is 100 laps for $1 million. The All-Star Race regularly produces some of NASCAR’s most exciting moments.

Before the race, don’t miss the concert in the infield between turns 1 and 2. Blake Shelton, three-time GRAMMY nominee, CMA’s reigning Male Vocalist of the Year and a coach on NBC’s “The Voice,” will perform prior to the NASCAR Sprint All-Star Race!

The Sprint All-Star Race is followed by the Coca-Cola 600 on May 27.  This is NASCAR’s only 600-mile event. With a patriotic salute to the U.S. armed forces, the 53nd running of the Coca-Cola 600 is a Memorial Day Tradition. Also head to Center City for the Food Lion Speed Street 600 Festival May 24 – 26 celebrating 18 years of NASCAR-themed, family-friendly fun, Food Lion Speed Street itself is an experience with live entertainment, access to NASCAR’s brightest stars, and vendor displays.
 
Enjoy NASCAR in May in Charlotte.

There is more information on NASCAR events in May on www.charlottesgotalot.com

Low mortgage rates and more affordable home prices  in Charlotte are creating an interest in homeownership 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 homeownership 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 Charlotte, NC. 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 snow blower or a leaf blower, 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 homeownership 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 Auston Woods Apartments.

SF Gate

It is fun to live in an apartment in Charlotte, NC? However, sometimes when you live in a city you forget to play tourist. Take some time out of your busy schedule to get back in touch with this charming and cultural city. Charlotte is filled with all types of cultural attractions. Whatever type museum you are looking for, you will find in our Southern city.

Charlotte has some amazing museums located within walking distance in the downtown area. Make a day or a weekend of it, and visit them all. Three museums in particular are located just a few blocks from each other with plenty of interesting artwork, memorabilia and history.

The Mint Museum Uptown is sure to be a favorite. You will find some amazing American Art, Contemporary Art, European Art and Craft/Design pieces. Allow plenty of time to explore the Fairytales, Fantasy and Fear exhibit. It is filled with some unique and interesting artwork. The museum also has a café and museum shop, which features crafts from across North Carolina.

Located next door is the Bechtler Museum of Modern Art, which features mid-20th century European and Modern Art. Before you enter the museum, take a look at the 17-foot tall terra cotta-tiled piece of artwork located outside at the entrance of the museum. It’s filled with gems by many notable artists, including Picasso and Warhol. A free audio guide is offered which gives a history of the collection, including information on the Bechtler family that donated the items.

Just a short walk away is Levine Museum of the New South. The exhibit, “Cotton Fields to Skyscrapers,” provides a look at the American South from the end of the Civil War to modern times. There are plenty of interactive displays, including opportunities for visitors to step inside a tenant farmer’s house, wander along a 1920s main street and try on a hat in an early department store. The museum also features changing exhibits.

Bank News Today

The Great Taste Music Series is a music contest held in Charlotte between local bands, and the next event will be held at Whisky River tomorrow.  Get there  early with your friends from your apartment in Charlotte, NC because doors open at 8 PM. Best of all, there is no cover charge. Three bands are competing for a live performance at Speed Street in May on the Miller Lite stage. These bands are Spencer, the Gal Friday Band and The Wiggle Wagons.

Band Spotlight: Spencer

Spencer has been together since October 2011, and the band covers a wide range of genres -- from rock, country, funk, pop, the top 40, rap, blues, and dance/party music. “When we cover another artist’s song, we try to give the song our own twist, while still trying to stay true to the original songs ‘backbone.’ We want to make it our own sound, but do not want to completely take away from what made the song a hit in the first place,” said band member, Troy Spencer.

The band Spencer is made up mainly of family members. Their pure, yet dynamic chemistry is extremely unique. Add the funk, jazz, and gospel styles of Mike Lowe on drums, and Derrick Bartell on keys, to the mix, and Spencer is a force to be reckoned with.

Whiskey River, 210 East Trade Street, Charlotte.

Examiner.com

Have you heard of the Envision Charlotte initiative? The city of Charlotte, N.C. is continuing to grow its and reach its goal of a 20% reduction in energy usage by 2012.

The program was announced in 2010. It’s intent is to bring sustainability and efficiency to the city's uptown business district and make green buildings a reality for all companies.

But you can make a difference in your homes in an effort to support the business initiative in Charlotte. Do you want green living? Auston Woods, a community of apartments in Charlotte, pride ourselves on our well-built homes for our residents but also in the fact that we act as a leader in Green initiatives in our market areas.  

Built and managed by the full service development company HHHunt, Auston Woods has made every effort to adapt to the environment in which we reside. We save as many well-established trees as possible and then exceed local standards for the size and number of trees re-planted within the community.  Auston Woods Apartments strives to exceed government standards for energy efficiency and water conservation during the development process and beyond.

Want to be part of the Envision Charlotte initiative and promote green living? Contact Auston Woods.

You have probably heard by now that gas prices will only be going up and as we approach summer they may be as high as $5.00/gallon! If you live in an apartment in Charlotte, NC and you like to drive around the North Carolina countryside on your summer weekend, gas mileage is very important.

You can improve your car’s gas mileage. If you do them all, you can increase your gas mileage by 50%. When you bought your car you had a specified number of miles per gallon, but you may not be seeing that mileage today. Why?

Stop neglecting regular car maintenance.  If it has been awhile since you have had a tune up on your car, schedule one! Be sure to keep up on your car’s regular maintenance. Regularly maintained cars get the best gas mileage. You will be pleasantly surprised.

Check your tire air pressure. Your tires can directly affect your gas mileage. As the temperature changes, so does the pressure in your tires. Regularly check that your tires have the required PSI. When the pressure in your tires is too low, your tires no longer work efficiently, they work like water balloons. With too much surface on the road, there is too much friction causing your car to work harder. Your gas mileage can be dramatically affected by poor tire pressure.

Believe it or not, changing your driving habits can affect your gas mileage. The way you drive affects how much gas you burn. Not planning to stop, revving up and slowing down and driving over the speed limit all use too much gas.  By changing your behavior behind the wheel, you can increase the gas mileage in your car.

Enjoy the summer and enjoy the ride. Keep money in your pocket as gas prices rise, follow these tips to increase your gas mileage.

Over 60,000 spectators watched Charlotte’s St. Patrick’s Day Parade last year as it marched through Charlotte. Between the bag pipes and the cheers of the spectators lining the streets along with the flags, floats, kids, and pipe band music, everyone was happy to be Irish for a day. This year, the 16th  Annual Parade promises to be even bigger and better! Get out of your apartment in Charlotte and join the festivities.

This year’s parade Grand Marshal will be Bill Duffy, Executive Vice President, Chief Financial and Administrative Officer for Bobcat Sports & Entertainment.

The Charlotte Goes Green Festival, on S. Tryon St. between 1st St & 3rd is from 10am – 6:30pm and features Irish music, Irish dancers, bagpipers, food, vendors and plenty of beverages. There is no admission fee to attend.

Enjoy Irish music, performances by Irish dancers, the Celtic Kids Zone, and have lots to eat while perusing the great Irish/Celtic vendors that attend the festival from around the U.S. It is expected that the 2012 Charlotte Goes Green Festival will be the biggest and most attended yet.

Charlottepatsday.com

Charlotte Wine and Food Weekend is coming, April 18-22. The Queen City's best purveyors of fine foods are pairing with some of the country's top wineries for The Largest Dinner Party in Charlotte. Here is one of 20 dinners all across the city Thursday, April 19.

The Terra Vintner Dinner is pairing with Alexander Valley Vineyards. Dinners sell out quickly, so make your reservation now.

Then there is this dinner with a little different spirit. New Tequila Dinner at Paco's Tacos & Tequila on Wednesday April 18.

For more information on this culinary experience, contact www.charlottewineandfood.org or watch the video below.

Charlotte Wine & Food Weekend Kick Off from Burke Communications on Vimeo.