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Abberly Waterstone Blog

Should You Rent or Buy?

Joseph Coupal - Wednesday, October 11, 2017

Abberly Waterstone Apartments, Stafford, VAMost of us grew up hearing adults tell us what a great investment owning a home is.

But is it really always a good choice to buy a home? Are there any conditions when it is better to rent instead of purchasing a home? The answer is yes, owning your own home can be a solid investment, but it is also true that purchasing a home is not always the best plan. When deciding whether to buy or rent, you should consider multiple factors, because there are pros and cons to both buying and renting.

There are several financial benefits to renting temporarily or even long-term. If you rent, you will never have to pay property taxes. You should purchase renter’s insurance, but you won’t have to buy homeowner’s insurance, which is more expensive. Also, while owning a home can be financially beneficial, it isn’t necessarily the best way to invest your money. You could choose to invest in stocks, and you might end up with more money than you would by simply owning a home for a long time.

If you do buy a home, you will have to take care of it if you want to keep your investment. You would also most likely have to hire someone to fix issues like the roof, plumbing, or other repairs. If you consider yourself handy at fixing things, then you also could choose to make the necessary changes yourself. However, if you already have a busy life or simply prefer not to tinker with household issues on your time off, then you will have to pay someone.

These are things that potential homebuyers often don’t consider: All of these issues cost money if you own your own home. If you prefer to have someone else handle most problems, escape yard care, and also avoid additional costs, you may consider long-term renting.

For more information on apartments in Stafford, VA, contact Abberly Waterstone.


Renting is a Good Option for Many

Joseph Coupal - Tuesday, October 03, 2017

Abberly Waterstone Apartments, Stafford, VAGenerations of Americans have considered owning their own home a key aspect of achieving the American Dream. But the lingering aftermath of the housing crash has caused many people to rethink that belief. Many are opting to rent an apartment in Stafford, VA rather than buy.

Long gone are the days when Americans assumed home ownership could only have a positive impact on their finances, and that renting was equivalent to throwing money away.

Like any debate, the question of renting versus buying has pros and cons on both sides. Buying a house creates the potential to build equity and provides a sense of stability, while renting affords a level of mobility. In many areas of the country, the gap between lease costs and monthly mortgage payments has narrowed, making both options equally affordable.

While the decision to rent or buy will depend on your personal circumstances, when you're considering the question some facts are universal. Among them: What impact might your credit have on your decision to buy or rent, and what impact will either option have on your credit score? How long do you plan on staying in this particular location, do you have job security and how much do you like home repairs and yard-work?

When you're evaluating whether buying a home or continuing to rent makes sense for you, consider all the facts as well as your lifestyle.

For information on renting in Stafford, VA contact Abberly Waterstone Apartments.


Buying a Home vs. Renting: Key Factors to Consider

Joseph Coupal - Wednesday, September 27, 2017

Abberly Waterstone Apartments, Stafford, VAAs Millennials age and start families, many are compelled to own a home instead of rent, but this should not be an automatic response. There are a seemingly overwhelming number of variables at play in making an informed decision on renting versus buying.

Common factors that influence whether you should rent or buy include the length of time before your next move, the difference in cost per square foot between renting and owning comparable properties in your area, mortgage rates, access to credit, and the affordability of a down payment for a home purchase.

Of course, anticipated repairs and maintenance costs are a serious consideration. But there also are smaller factors that can wind up playing a large role in the decision to own a home. What are the neighbors like? Are there homeowners association fees? What has the crime rate been in the neighborhood?

First-time homebuyers often make the dangerous assumption that they will make money on their home when they eventually sell it. The reality is that after all of the costs of home ownership have been factored in, many homeowners do not make out like a bandit. Increasing property taxes are a big reason why. Before committing, always know the annual taxes for your nest, and do not assume that they will remain static.

When it comes to renting, other questions come up, including how often and by how much the rent will increase and whether there is a pet policy. How many parking spots are included in the lease? Proponents of home ownership say renting is like throwing money away, whereas renters will say they have more flexibility and financial independence. Renting often can give individuals an opportunity to live in an area where either they would not be able to afford a home purchase or they wouldn’t want to take on the maintenance required of older neighborhoods.

A soaring housing market the past few years has functioned as a double-edged sword – a good investment for those whose homes have appreciated in value and a barrier for those who cannot buy homes with skyrocketing values. One of the main reasons housing prices have climbed so rapidly is the limited supply of homes available for purchase. Since the recovery from the housing crisis, there has been a historically tight supply of homes available for purchase, including existing homes or new construction. This has left the homes available for sale priced at a premium. It’s a seller’s market.

Yes, home ownership is exciting and fulfilling, but it should be considered very seriously. It should never be entered into lightly. It can become a nightmare that wrecks your credit or hurts your relationship with your partner.

For more information on apartments in Stafford, VA contact Abberly Waterstone.


Apartment Living in a Gorgeous Community

Joseph Coupal - Friday, September 22, 2017

Abberly Waterston, Stafford, VAAre you apartment hunting in Virginia? If so, a one bedroom apartment in Stafford, VA may be something to consider. Located near historic Fredericksburg and Washington, DC, this apartment community offers residents many community amenities as well as proximity to VRE, Quantico, several government agencies. Abberly Waterstone offers 1-bedroom apartments that range from 806 square feet to 1199 square feet. But that is not the only thing that sets us apart. Each luxurious apartment offers:

  • One, Two, and Three Bedroom, Open Floor Plan Options
  • Private Entry Cottage Style Apartments*
  • Nine and Ten Foot Ceilings
  • Granite Countertops
  • Mocha Wood Cabinets and Brushed Nickel Hardware
  • Black Appliances
  • Island Designed Kitchens*
  • Wood Plank Style Flooring in Kitchen and Baths
  • Glass Enclosed Showers*
  • Oversized Garden Tubs
  • Valet Trash Removal

Abberly Waterstone offers you a wonderful place to live, relax and make friends and we take care of the rest. This is a luxury apartment community that offers the best in apartment amenities, including:

  • Dual Sink Vanities*
  • Oversized Closets
  • Expansive Windows
  • Washer and Dryer in Every Apartment Home
  • Vibrant Clubhouse With 4K Ultra HD Smart TVs Throughout
  • Demo Kitchen for Socials
  • Lounge with Billiards, Foosball and Vintage Arcade Games
  • Invigorating Pool With Sun Deck
  • Outdoor Gathering Pavilion With, TV Viewing Area, Gas Fireplace, and Grilling Kitchen
  • Adrenaline Cardio and Strength Studio
  • Detached Garages Available

Our apartments in Stafford, VA have floor plans that have what you need in order to call your apartment a home. In addition to the community we offer, our location is premier because of its quick access to major roads and highways. Stop your apartment search here, contact us.


Signs You May Not Be Ready to Buy a Home

Joseph Coupal - Wednesday, September 13, 2017

Abberly Waterstone Apartments, Stafford, VABuying a home can be a good investment. It can be a rewarding experience for you and your family.

But the fact is, it isn't right in every situation and it only works if the buyer is financially prepared. As we saw during the housing crisis, buying a house when you aren't ready can lead to disastrous results.

How can you tell if you're ready? Ask yourself some questions.

The first has to do with income. Does your household earn enough money to make the monthly payment on a home, pay for insurance, pay the taxes, and cover maintenance and repairs?

When you rent your home, all of those costs are baked into the monthly rent. If the water heater goes bad, that's the landlord's problem, not yours. It's true that, with low interest rates, a mortgage might be the same, or even less than rent in some markets. But you can't overlook the other costs of owning a home.

Debt-to-income ratio

What about your debt? If you have outstanding student loans and rising credit card balances, you might not be ready to take on a mortgage. In fact, that could be one thing that might disqualify you.

Lenders look at a borrower's debt-to-income ratio. If the ratio is too high, it reduces the amount you can borrow. In most cases, a lender will want your debt to be no more than 36% of gross income.

When looking at your savings, don't just think about how much you need for a down payment. If the down payment takes all your ready cash, you'll have nothing left to cover those expenses that almost always crop up in the first year of home ownership.

Two important factors

Before considering a home purchase, you also need to make sure you will qualify for a mortgage. Two factors could keep that from happening.

First, you need to have been on the job, or employed in the same industry, for at least two years. Lenders want to see that employment consistency before they'll consider funding your home purchase.

Second, you need a reasonably good credit score. While it is true you might qualify for a subprime mortgage with a marginal credit score, there could be some real disadvantages to being lumped into the subprime sector.

Having a better credit score -- 720 or better -- will get you a better interest rate, in most cases. So it might be wise to spend some time trying to raise your credit score before considering a home purchase, and the easiest way to get started on that is to simply pay all of your bills on time.

Finally, give some thought to the future. If you purchase a home, you'll need to live in it for a while before you can sell it without losing money. The experts at Trulia suggest three to five years is the minimum length of time you'll need to live in it before selling.

If you think there's a good chance you'll be relocating in a couple of years, the prudent thing to do is keep renting.

For more information on apartments in Stafford, VA, contact Abberly Waterstone.


Why Renting is Better Than Owning

Joseph Coupal - Thursday, September 07, 2017

Abberly Waterstone, Stafford, VAMany people have said “What do you think of the idea of me buying a home?” Here is some advice.

There are many reasons to not buy a home:


Cash Gone. You have to write a big fat check for a down payment. “But its an investment,” you might say. Historically this isn’t true. Housing returned 0.4% per year from 1890 to 2004. And that’s just housing prices. It forgets all the other stuff mentioned below. Suffice to say, when you write that check, you’re never going to see that money again. Because even when you sell the house later you’re just going to take that money and put it into another down payment. So if you buy a $400,000 home, just say goodbye to $100,000 that you worked hard for.

Closing costs. This is about another 2-3% out the window. Lawyers, title insurance, moving costs, antidepressant medicine. It adds up. 2-3%.

Maintenance. No matter what, you’re going to fix things. Lots of things. In the lifespan of your house, everything is going to break. Thrice. Get down on your hands and knees and fix it! And then open up your checkbook again. Spend some more money. When you rent and the dishwasher doesn’t work, call the landlord and he fixes it.

Taxes. There’s this myth that you can deduct mortgage payment interest from your taxes. Whatever. That’s a microscopic dot on your tax returns. What’s worse is the taxes you pay. So your kids can get a great education. Whatever.

You’re trapped. Let’s spell out very clearly why the myth of homeownership became religion in the United States. It’s because corporations didn’t want their employees to have many job choices. So they encouraged them to own homes. So they can’t move away and get new jobs. Job salaries are a function of supply and demand. If you can’t move, then your supply of jobs is low. You can’t argue the reverse, since new adults are always competing with you.

Ugly. Saying “my house is an investment” forgets the fact that a house has all the qualities of the ugliest type of investment:

Illiquidity. You can’t cash out whenever you want.

High leverage. You have to borrow a lot of money in most cases.

No diversification. For most people, a house is by far the largest part of their portfolio and greatly exceeds the 10% of net worth that any other investment should be.

Personal reasons to not own a house.

Trapped, Some people like to have roots. But others like things to change every once in a while. You can pick up and move anytime when you rent.

Rent. People will argue that the price of the mortgage, maintenance taxes, etc is all baked into the price of rent. Sometimes this is true. But usually not.

Psychology. Look at your personal reasons for wanting to own. Do you feel like you can’t accomplish something in life until you own a house? Do you feel like it’s part of getting married and “Settling down”, i.e. creating a nest for your future children? For you, is it a part of becoming an adult. Is this what your parents taught you? Examine the real reasons you want to own and make sure they are coming from a good spot in your heart.

Your time. Do you really want to spend all that time working on your house? Is this where your time is best spent towards creating a happy and fulfilled life for yourself?

Choices. When you rent you always have the choice to leave. To live wherever in the world you want whenever you want. Adventure becomes a possibility even if you never take advantage of it.

Stress. For some, owning a home equals stress.

Cash is king. If you like cash in the bank and like having access to it, rent. Owning means it is all tied up in one illiquid investment.

For more information on renting apartments in Stafford, VA, contact Abberly Waterstone.


Virginia is a "Best State to Retire"

Joseph Coupal - Tuesday, August 29, 2017

Abberly Waterstone, Stafford, VAYou’re really going to do it. You worked your last day, you ate the cake and you decided to move to the best retirement spot in America. Next question: Where is that?

Bankrate looked at costs, weather, health care, crime, taxes, cultural amenities and a few other things important to seniors and have determined the best 10 places to retire.

Before you start packing, find out if you’ll need snowsuits or swimming suits.

Virginia is for lovers of affordable prices, communities where you can feel safe and relatively pleasant weather year-round. The fall foliage in the Shenandoah Valley is an annual treat, spring brings cherry blossoms, and in summer you can hit the state’s Atlantic beaches.

#6 Virginia Scores highest for:

  • Cost of living
  • Relatively low crime rates
  • Weather

For more information on apartments in Stafford, VA, contact Abberly Waterstone.


Apartment Hunting? 4 Things to do Before Signing a Lease

Joseph Coupal - Monday, August 21, 2017

Abberly Waterston, Stafford, VAMoving is stressful. And not just because of the cost.

Perhaps you're new in town. Ready to switch neighborhoods. Trying to escape a roommate who moonlights as a hoarder.

Whatever's uprooting you, finding a new place can get expensive.

First, there are the upfront costs to prepare for. Many landlords will ask for two months’ rent and a security deposit before you move in.

Then there are the sneaky add-ons. Fees tucked in leases, unforeseen building issues and landlords who cling to your last security deposit can quickly make the process even pricier.

Here's how to survive the transition while keeping your budget, and your sanity, intact.

1. The internet is your best friend

One of the great things about the internet is if somebody's upset with a service, they tend to write about it.

Once you find a building you like, vet everything. What do units typically cost? Have there been issues with bedbugs? Is the leasing company prompt about repairs?

It's better to know in advance if the landlord will charge you hundreds to fix the fridge.

2. Recognize warning signs

Online listings are a great springboard for your search. But always go and check things out in person.

Make sure you can tour the place. An alarm should go off in your head if the landlord is shady about touring and says you can just wire over a deposit.

The application process is pretty systematic. If a company or an agent is asking you to pay cash up front or there isn't a credit check ... that's a red flag. The cardinal rule: If something seems too good to be true, it probably is.

3. Ask Questions

When you do tour an apartment, ask questions. Turn on all the faucets. Check the water pressure. Test the outlets.

Take your time in the apartment, take your time asking the broker questions and make sure you are doing everything that would make you comfortable.

Brokers often make you feel like you're under a lot of time pressure. But you have a right to due diligence. The same goes for when you actually move in.

Take pictures of everything -- the stove, the doors, the corners -- to document any scratches or scuffing. Put the photos in a folder on your computer.

You'll need to prove you didn't do any damage to get your full security deposit back when you move out.

Do a walk-through of your apartment when you sign your lease to check the condition of things. Do the same walk-through with your landlord at the end of your lease.

4. Read the lease (really)

They're lengthy and full of legalese. But the lease is where rental companies stick terms that can really bite.

Access to amenities in the building can have an added fee -- things like a gym and a rooftop deck.

The same could go for trash collection, use of common space and even access to the elevator. Owning a pet, too.

Take the time to comb through every section. And again, don't let the property manager make you feel rushed.

It's so important to read the lease, as long as it may be. Word by word and page by page. For more information on apartments in Stafford, VA contact Abberly Waterstone.


Virginia is a Great Place to Retire

Joseph Coupal - Tuesday, August 15, 2017

Abberly Waterstone Apartments, Stafford, VAWhen the time comes to pick a place to retire, you want to make it a good one. After all, retirement is the prize at the end of a lot of long years of hard work. So what are the factors that go into picking that magical place?

The perfect place will be a little different for everyone depending on finances, family and, of course, preferences. But for the most common factors – cost of living, safety, healthcare, activities and climate – Virginia comes out on top time and again., a financial analysis website, made a list of their 10 Best States for Retire, ranking Virginia as #5 in the nation.

Whether you’re looking to be closer to the grand kids or just want a certain lifestyle, Virginia has more than enough options. If you’re retired, or thinking about retiring soon, and would like more information on apartments in Stafford, VA contact Abberly Waterstone.


Millennials Love Living in Apartments in Stafford, VA

Joseph Coupal - Tuesday, August 08, 2017

Abberly Waterstone, Stafford, VAMillennials are born between the early 1980s to the early 2000s. If there is one hot trend among them, it is their love for apartment living!

According to Forbes, only 11% of consumers ages 20 to 29 have a mortgage, compared to 30% of all consumers nationwide. Since a hefty down payment and solid credit is harder to achieve (especially with outstanding student loans) many young adults are opting for the flexibility of apartment living.

Why do Millennials love the lifestyle associated with renting? Below are four reasons why apartment living is so great!


Let’s face it. Millennials aren't 100% certain what they want to do with their lives right after graduation. Having the flexibility of 6-month and 12-month lease allows for renters to either renew their lease or move on. Whether a millennial wants to move to the city for a job or move from the suburban setting to a downtown environment, the freedom of apartment living provides renters with both options.

Great Company:

With the trend of moving into apartments, apartment living can be fun! If your community is fortunate enough to have a pool, you can meet new friends at your apartment and forge friendships that will last a lifetime. Moving into an apartment provides you with an ideal living situation; it can drastically improve your social situation!

Financial Freedom:

Raise your hand if you are under 30 years old and can put a down payment of $20,000 for a home?

The month-to-month payment options on rent means Millennials don't have the burden of taking out even more loans. Instead, they can actually save money while renting and establish good credit. This will set them up for financial freedom in the future!

Ideal Living Situation:

With the boom in rental developments, builders and developers are listening to what Generation Y is seeking in terms of their living situation. The result? Apartments nowadays are decked with the finest apartment amenities in the perfect locations. Imagine living in a community with a workout facility, Wi-FI business center, pool and dog part. This is what Millennials can expect from their apartment, which is why they’ll consider apartments as the idea living situation!

It is no coincidence that Millennials moving into rental communities have skyrocketed over the past several years. Developers are catering to the needs of Generation Y and in return, Millenialls love everything associated with apartment living!

For more information on apartments in Stafford, VA contact Abberly Waterstone.


Abberly Waterstone Apartment Homes

140 Abberly Drive, Stafford, VA 22554
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