Abberly West Ashley Apartment Homes

3100 Ashley Town Center Drive, Charleston, SC 29414
Call: 844-502-5938 Email UsAbberlyWestAshley.PropertySite.HHHunt@aptleasing.info View Map

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

$$

Apartments Charleston SC Blog

How Much More it Costs to Own Than Rent In Your State – Charleston, SC

How Much More it Costs to Own Than Rent In Your State – Charleston, SC

Joseph Coupal - Tuesday, March 28, 2017

Abberly at West Ashley, Charleston, SCOwning 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: South Carolina
Homeownership Premium: 43%
Median Monthly Cost to Own: $1168
Median Monthly Cost to Rent: $819
Difference: $349

For more information on apartments in Charleston, SC, contact Abberly at West Ashley.

#HowYouLive
NerdWallet


South Carolina is a Great Place to Retire – Charleston, SC

South Carolina is a Great Place to Retire – Charleston, SC

Joseph Coupal - Thursday, March 16, 2017

Abberly at West Ashley, Charleston, SCWhere to retire is a deeply personal decision that no one else can make for you. However, if you haven't already settled on a destination, a comprehensive analysis of your options can help narrow your search.

We rated all 50 states based on quantifiable factors that are important to many retirees. Our rankings favored states that are affordable—especially in terms of lower taxes on retirees and lower health care costs. Then we took health into account—both the economic health of each state and the overall health of the population. Finally, we rewarded states with relatively prosperous populations of residents age 65 and up.

We ranked 10 states in the top rankings for retirement destinations. They offer a wide diversity of climates and lifestyles, so you're likely to find one that suits your tastes. Of course, states are big places, so we narrowed the search even more for you. Within each, we identified a city or two that should hold particular appeal to retirees.

#6 South Carolina

Population: 4.7 million
Share of population 65+: 14.7%
Cost of living: 12% below the U.S. average
Average income for 65+ households: $39,985
Average health care costs for a retired couple: Below average at $373,631
South Carolina's tax rating for retirees: Tax Friendly

If the mild weather and southern charm of the Palmetto State isn't enough of a retirement draw for you, surely the affordability can tempt you. On top of well-below-average living costs, the tax situation goes easy on a fixed income, too. South Carolina doesn't tax Social Security benefits and offers generous exemptions on other types of retirement income. It also does not levy an inheritance or estate tax. Property taxes tend to be very low.

For more information on apartments in Charleston, SC, contact Abberly at West Ashley.

#HowYouLive
Kiplinger


Best Places to Live in America – Charleston, SC

Best Places to Live in America – Charleston, SC

Joseph Coupal - Wednesday, March 08, 2017

Abberly at West Ashley, Charleston, SCWhen deciding where to put down roots, many factors are in the eye of the beholder, such as climate, politics, or proximity to extended family.

Other aspects are coveted by nearly everybody: affordable housing, access to well-paying jobs, a low cost of living, good schools, and quality healthcare. In its recently released ranking of the best places to live in America, U.S. News & World Report gathered data on these crucial components for the 100 most populous US cities.

They then categorized the data into five indexes for each city — job market, value, quality of life, desirability, and net migration — to definitively rank these major metro areas.

Scores for "value," a blend of annual household income and cost of living, and "quality of life," which accounts for crime, college readiness, commute, and other factors, are included below on a 10-point scale, as well as the city’s population and median annual salary.

19. Charleston, South Carolina

Population: 697,281
Median annual salary: $42,770
Quality of life: 6
Overall value: 6.5

Charleston’s charming, historic, and sophisticated ambiance is exemplary of southern culture. “Not only is the area overflowing with entertainment and good food, but this low country locale is also gorgeous,” said a local expert.

Tourism is booming in Charleston, creating plenty of jobs, especially in the summer months. Year-round, jobs in tech, sales, marketing, and advertising keep the city’s economy strong.

For more information on apartments in Charleston, SC contact Abberly at West Ashley.

#HowYouLive
businessinsider.com


Should I Rent or Should I Buy? - Charleston, SC

Should I Rent or Should I Buy? - Charleston, SC

Joseph Coupal - Wednesday, March 01, 2017

Abberly at West Ashley, Charleston, SCWhen relocating, one of the first questions you should ask yourself is if you are going to rent or buy. The answer is not always so straightforward.

If you’re just passing through, renting may be a better option.

When Renting a Home Makes More Sense:

You Plan on Relocating

While it’s true many people stick around for the long term, many are just passing through Charleston. If you know you’re not going to be around for the long-term, renting is an easier option with less commitment.

Your Income Is Unpredictable

Self-employed professionals, new graduates, start-up employees, and contractors don’t always know what their income will be in the long-term. While contractors can expect a predictable paycheck while on contract, once the term ends you’ll be stuck with a mortgage payment no matter what. If cash flow is an issue, owning a home will make it harder for you to downsize when times get hard.

Retirement is Close

Even if you have a pretty hefty retirement fund, a high cost of living can wipe that out quick. If you can buy for cash and still have plenty to live on, then owning may be for you. Otherwise, renting is a better option. The fixed costs will make it easy to budget. Renting also provides you with the flexibility to downsize or move into your RV and travel.

Mortgage Rates Are High

The past few years have seen some of the lowest rates for a long time, but lately rates have begun to rise slightly. Because of the high sticker price of many homes, try to buy when rates are at a low and rent in the meantime.

There’s no one perfect answer for the rent vs. buy question. It all depends on your situation. Take your time to explore your goals and your financial picture before making the decision.

For more information on apartments in Charleston, SC contact Abberly at West Ashley.

#HowYouLive
ARLnow



Abberly West Ashley Apartment Homes

3100 Ashley Town Center Drive, Charleston, SC 29414

Call or Text: 844-502-5938
Email UsAbberlyWestAshley.PropertySite.HHHunt@aptleasing.info
View Map

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

$$