Auston Woods Apartment Homes

5301 Roundstone Way, Charlotte, NC 28216
Call: 833-392-5643 (704) 597-7192 Email UsAustonWoods.PropertySite.HHHunt@aptleasing.info View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$883-$1,200

Apartments Charlotte NC Blog

Reasons Renting is Better than Buying – Charlotte, NC

Joseph Coupal - Wednesday, January 25, 2017

Auston Woods, Charlotte, NCWhile both renting and buying have their own sets of financial advantages, renting does appear to have an edge when the economy is poor. There are tremendous financial benefits to renting as opposed to buying a house of your own. Here is a look at 10 reasons why renters have the better financial deal over homeowners.

No Maintenance Costs or Repair Bills
A definite advantage that renters have is that they have no maintenance costs or repair bills to pay off. When you rent, your landlord is responsible for all maintenance and repair costs. If an appliance stops working or your roof starts to leak, you do not have any financial responsibility to have these things fixed.

Access to Amenities
Another financial benefit to renting over buying a house of your own is having access to amenities that would otherwise be a huge expense. Luxuries such as an in-ground pool or a fitness center come standard at many midscale to upscale apartment complexes with no additional charge to tenants.

No Real Estate Taxes
An obvious benefit that renters have over homeowners is that they do not have to pay real estate taxes. Real estate taxes can be a hefty burden for homeowners.

No Big Down Payment
Another area where renters have the better financial deal is upon signing. You do not have to have a huge down payment saved up to move into a rental property. While the exact amount you need to move in varies from case to case, the total amount is significantly less than you would need to buy a house.

Shaky Market Creating More Renters
While many experts claim the U.S. Housing market is making a full recovery, others aren't so sure. An article written by International Business Times claims that the market is just now stabilizing and the word 'recovery' is unwarranted.

Decreasing Property Value
Property values go up and down, and while this may affect homeowners in a big way, it does not affect renters. Home value determines the amount of property taxes you pay, the amount of your mortgage and more. In a rocky housing market, renters are not as adversely affected.

Flexibility to Downsize
In today's economy, many people struggle to make ends meet. By renting, you have the option to downgrade into a more affordable living space at the end of the lease. When you are a homeowner, it is much more difficult to break free of an expensive house because of the fees involved with buying and selling a home.

Fixed Rent Amount
Rent amounts are fixed for the span of the lease agreement. This means you are able to budget more efficiently since you know the amount of rent you are required to pay. Mortgages and the amount of the property tax can fluctuate.

Lower Insurance Costs
While homeowners need to maintain a homeowner's insurance policy, renters would be wise to invest in a renter's insurance policy. Luckily for renters, renter's insurance is much cheaper and it covers quite a lot. The average cost of renter's insurance is just $12 per month.

Lower Utility Costs
It is much more affordable to heat and power an apartment or small rental home as opposed to a larger home. Rentals typically have a more compact floor plan, and renters can expect lower utility costs.

The Bottom Line
While owning a home may be beneficial over a long period of time, for many people renting is the better option. There are plenty of examples that show how renting can save consumers a considerable amount of money. The choice of whether to rent or buy is a personal one. Before making a hasty move, make the financial decision that is right for you and your family.

For more information on apartments in Charlotte, NC, contact Auston Woods.

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Investopedia.com


The Benefits of Renting May be Underrated – Charlotte, NC

Joseph Coupal - Thursday, January 19, 2017

Auston Woods, Charlotte, NCFor 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 Charlotte, NC contact Auston Woods.

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Things to Look for When Renting an Apartment – Charlotte, NC

Joseph Coupal - Thursday, January 12, 2017

Auston Woods, Charlotte, NCFinding a cheap place to rent with a view might be at the top of your list when you start hunting for your next apartment — but there are other, more critical items you should consider. Here are 20 things to watch out for when apartment hunting.

1. A Boring Location

Dreaming of a move? You'll want to scope out the area before ever setting foot in a potential new apartment.

Location is key. If you're moving from out of town, often you take the first apartment you see. But do your research, and make sure it is a good personal fit.

Not sure where to start? Look up city guides to determine whether the area you're moving is near food and entertainment.

2. The Length of Your Lease

As simple as it sounds, some landlords will not clearly state that a lease is six or 12 months, unless you ask. In addition to asking about the length of the lease, ask what happens when it ends, and how and if you can renew it.

If you love your place and your lease ends, you'd hate to have to move because they put it back on the market without asking you first.

3. Regular Rent Increases

As much as your landlord might want you to stick around, your rent price isn't guaranteed if you renew your lease.

Make sure you ask about annual rent increases, which are typically based on property tax increases in your city. You want to be sure that your rent won't be going up by $500 after just one year.

How much your rent can increase and how much advanced notice your landlord is required to give you varies by state, so check your local tenant’s rights before you sign the dotted line.

4. Who Manages General Maintenance

Try to talk to some current residents about maintenance service, timeliness in response to maintenance requests, as well as the overall ease of living in the building. A simple question like, “Does it take five weeks to get your sink unclogged?” can tell you a lot about what it’s like to live there.

5. What Happens If You Break the Lease

It’s critical to know if and how you can break the lease, should the need arise. In many cases, job offers come or personal issues occur that result in a need to move immediately.

6. Unsavory Pet Regulations

Many apartments have rules about pets — if you can have them, what kind, how many, size and even breed. If the apartment allows pets, ask if you need to make an additional deposit, and how cleaning and repairs related to the pet are handled when you move out.

7. A Bad Interview With Your Landlord

Meeting the landlord? Come prepared. Of course, the landlord is interviewing you; but keep in mind that you’re also interviewing the landlord. The interview is a good time to bring questions.

For instance, you can learn about any issues with the property. Keep an eye on how the landlord responds to your queries, too. If they're quick to anger or seem aloof, you'll want to do extra digging to make sure you and the landlord will get along.

8. Damage From Previous Tenants

Protect your security deposit with a thoroughly documented walk-through of the property. Taking photos of the apartment before you move in and the day before you move out can protect you from illegitimate damage charges.

9. Noisy Neighbors

You might find the perfect apartment in an ideal location, but noisy neighbors can ruin the vibe of the place.

Be sure to go by the place you are looking to rent both on the nights and weekends. Some apartments are very quiet during the work week and become party central on nights and weekends.

10. High Crime Rates

Some neighborhoods seem safe, but what happens behind the scenes tells a very different story. Luckily, local crime rates are easy to access.

11. Unfinished Renovations

Sometimes, landlords will start showing an apartment in the middle or near the end of renovations. This can be a huge red flag.

Never sign a lease on a unit until it is move in ready. Once you sign that lease, landlords can sometimes become a little squishy on doing final repairs.” If you’re interested in an apartment with unfinished work, get any promises in writing from the landlord.

12. Dirty Floors and Dingy Paint

A messy apartment could be a warning sign to future tenants. When doing a walk-through, you should make sure the apartment looks like it's been cleaned and painted somewhat recently.

13. Mismatched Knobs

The doorknobs and light switches and little things like that should generally match throughout the apartment. A sign of mismatched light fixtures could be a sign of poor attention to detail and willingness to cut corners.

14. Past Lawsuits With the Landlord

Google the landlord. Many states have court records online so you can see how many times they've been sued to have repairs made or by tenants trying to recover a security deposit.

15. How the Property Looks at Night

After you find an apartment you like, drive by to see what it’s like at different times of the day and night.

Most people tour apartments on the landlord’s schedule, which usually means during the business day. But the place is very different on a Tuesday at 10 a.m. than it is on Tuesday night at 6.

16. An Absent Landlord

Whether it’s the landlord or a property manager, you want to actually meet the person who will be managing the property on a month-to-month basis. You can get a sense for what kind of person they are [and] how committed they are to managing the property well.

If the building owner only hires people to show the unit, that could mean they aren’t invested enough to either manage the property themselves or hire a dedicated property manager.

17. An Unresponsive Landlord

An unresponsive landlord could be a sign of trouble.

If the landlord isn’t great about returning your calls when they’re trying to fill a vacant unit, how responsive will they be when there’s a problem that costs money?

18. Community Events

Some apartment complexes have community events, where management organizes social events for the residents.

This could be a good sign that management is invested in trying to create a positive experience for the residents. You could always ask if the landlord/management does this, or knows of residents who organize events like this, since that usually indicates more camaraderie and goodwill between many of the residents.

For more information on apartments in Charlotte, NC contact Auston Woods.

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New Year 2017 from Auston Woods Apartments in Charlotte, NC!

Joseph Coupal - Thursday, January 05, 2017

Auston Woods in Charlotte, NCA fresh new year has arrived once again. It’s the time to be thankful for everything we have and for everything we have achieved in the past year. But it is also time to start new, start strong, and accomplish everything we want to do this year.

It is also time for us to say “Thank You” for our success last year. If you are an existing associate, we have enjoyed working with you. If we are just embarking on a new relationship with you in 2017, we look forward to the opportunity. We are excited for what we all can achieve in 2017.

The New Year stands before us, like a chapter in a book, waiting to be written. We can help write that story by setting goals. – Melody Beattie

New Year from Auston Woods  Apartments in Charlotte, NC!

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Auston Woods Apartment Homes

5301 Roundstone Way, Charlotte, NC 28216

Call: 833-392-5643
Email UsAustonWoods.PropertySite.HHHunt@aptleasing.info
View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$883-$1,200