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 homeownership 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 Roanoke) 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."
The time is quickly approaching for WestWind Relay For Life. In June our apartments in Roanoke, VA will be participating!
We have raised almost $705 so far, but our goal is $1500 and there are so many ways you can help, so don’t forget to donate to this wonderful cause. We need everyone’s help. We want to make a difference by teaming up to participate in the American Cancer Society Relay for Life. Don’t wait, June is right around the corner. This is your opportunity to honor cancer survivors as well as to raise funds and awareness to help save lives.
On June 15, 2012 at the Reserve Avenue Athletic Fields, our team will camp out overnight and take turns walking around the track to raise money and awareness to help the American Cancer Society find a cure.
There is a place for you at Relay. Each dollar raised will help save lives. At WestWind we will be hosting events, selling Luminaries’, footsteps and suns. Click 'HHHunt Relay for life' for the link to easily donate from the comforts of your apartment home or come to our office!
Low mortgage rates and more affordable home prices in the Roanoke Valley are creating an interest in home ownership 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 home ownership 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 Roanoke, VA. 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 leaf blower and other yard tools, 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 home ownership 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 West Wind Apartment Homes.
The weather is gorgeous and most of us have some desire to lose weight. Luckily at our apartments in Roanoke, VA, we have a state-of-the-art fitness center along with so many other apartment amenities.
During the winter, many of us tend to overindulge, and now it is time for spring clothes and bathing suits. West Wind Apartments has a cutting edge fitness center that can help trim off those winter pounds. Make sure you stop by.
Here are some exercises you can do in our fitness center.
Are you searching for a new apartment in the Roanoke Valley? It is not easy. Before you begin, consider if you want a small apartment community or a larger one? What type of apartment floor plan would work best for you? Think about which apartment amenities are important to you in an apartment community.
Here are some suggestions on making your apartment search easier.
Consider location
Try pinpointing an area in or around Roanoke that you want to live near such as your workplace or your favorite neighborhood, and search within a 1-mile or 5-mile radius of that location for apartment communities. Apartments in Roanoke, VA offer an easy commute and a wonderful community setting.
Use tools on online listings
Many apartment communities post apartment floor plansand photos online. Looking at images of floor plans and apartment amenities and features may help you decide what communities you want to visit.
What don’t you like about where you live now
When you make a list of what you don’t like about your apartment now, this will help you keep priorities top of mind. Don’t look at apartments that have those same features. Do you need more space? A larger kitchen? Do you need a community that allows pets? Do you need extra storage space? Or a pool? A well-kept fitness center?
Keep track of what you have seen
Make a spreadsheet that lists each community’s name, rent, amount of space, most important amenities, and any other important facts or notes.
Want to win ‘lease free living’ from an HHHuntapartment in Roanoke, VA? Plus furniture, food, phone, cable, and internet all free for a year? Be part of the K92 Reality Show.
K92 is locking 6 strangers in a Pebble Creek apartment home for 7 days with no communication with family, friends or the world.
The entire apartment will be wired with microphones and video cameras which can be seen on the Internet 24 hours a day.
Contestants will be voted off by their peers ...until only 2 remain.
Apartment fully furnished by Virginia Furniture Market. The Winner get to keep all the furniture, $7,000 WORTH!!!
Cable TV and Internet Service for 12 months from Cox Communications
New TV courtesy of Fox 21/27
$100.00 Kroger gift card each month for one year.
Free phone and phone service for 12 months
The Contest requires contestants to stay in the apartment April 13th through April 20th 2012, and to be audio/video recorded for dissemination on the Internet and on air. Contestants cannot leave for work, school, or family reasons in order to remain eligible to win the prize. They must be willing and able to stay in the apartment up to 24 hours a day for the specified days along with up to five (5) other contestants and have their voices and images recorded and broadcasted on air and/or posted on the Internet.
Applications must be submitted by Thursday April 12, at 9:00 a.m. and while it is not required, it is strongly encouraged that the applicants attach a creative youtube video of themselves with their application.
You have probably heard by now that gas prices will only be going up and as we approach summer prices may be as high as $5.00/gallon! If you live in an apartment in Roanoke, VA and you like to drive around the Virginia 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?
Don’t neglect 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.
Returning this year to start the 2012 Roanoke St. Patrick’s Day Celebration, the largest St. Pat's Celebrations in the entire mid-Atlantic region, is Celtic Crossroads. This group has been heralded as “The most exhilarating and authentic show from Ireland in decades…” Friday night, March 16th Celtic Crossroads kicks off the 2012 Roanoke St. Patrick’s Day Celebration.
As residents of apartments in Roanoke, VA, don’t miss this fantastic, authentic and fun St. Patrick’s Day event, one of the largest St. Patrick’s Day festivals around. Southwest Virginia's premiere St. Patrick's Day events, the Roanoke St. Patrick's Day Celebration is now in its 23rd year. The Luck of the Irish is with us, and St. Patty’s is on Saturday this year. March 17 the festivities are from 10 - 5pm, with largest and favorite parade, the McDonald's St. Pat's Parade, starting at 11:00am.
The Celtic Festival and the parade take place right in heart of downtownRoanoke. It’s all part of the 2012 Roanoke St. Patrick’s Day Celebration, so break out the green and get ready to have some fun.
Don’t forget to donate to this wonderful cause. We need everyone’s help. We want to make a difference by teaming up to participate in the American Cancer Society Relay for Life. There are so many ways that you can help us reach our team goal. Monetarily, our team goal is to raise $1,500. Don’t wait. This is your opportunity to not only honor cancer survivors but also to raise funds and awareness to help save lives.
On June 15, 2012 at the Reserve Avenue Athletic Fields, our team will camp out overnight and take turns walking around the track to raise both money and awareness to help the American Cancer Society create a world with less cancer.
No matter who you are, there's a place for you at Relay. Each dollar raised will help save lives. How far will you go to make a difference in the fight against cancer? We will be hosting events on the property of WestWind Apartments, selling Luminaries’, foot steps and suns. Click 'HHHunt Relay for Life' for the link to easily donate from the comforts of your apartment home or office!
So you have finally have your own place. You have moved into your apartment in Roanoke, VA and now have to turn it into a home. How? Through decorating. Your home is beautiful, with all of the apartment amenities, but if you have empty corners, it is time to decorate. You don’t want empty spaces to be all that you see.
Decorate with plants. This is one of the easiest ways to bring life and color to your home. Plants also act to clean the air. If you have never cared for plants before, get those that are easy to care for. You want to add cheer and color to your home, and dead plants won’t do the trick.
Colorful toss pillows or throw rugs are another way to add life and design. When buying toss pillows, bean bag chairs or throw rugs, be sure to choose those that will accentuate a color already in the room.
Fish tanks are fun decorations, and add a nice focal point to any room. However, they can be an some trouble if you don’t think you will keep them clean. A dirty fish tank will have the opposite effect than what you are looking for, so be sure you are committed to cleaning it.
Are you or any of your friends artistic? If so, decorating with photos or “real art” makes quite a statement. See if you can purchase or swap for some artwork from one of your artistic friends. Original art always looks beautiful when used right. There are plenty of eclectic art shops, antique stores and thrift shops around Roanoke where you can find some fun trinkets and ideas as well.
Use your personality to decorate and have fun with your new apartment home. Make it feel comfortable and welcoming; a place that shows off you, and where you would like to come home.
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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. 
The time is quickly approaching for WestWind Relay For Life. In June our 
Inspection and Appraisal Fees
Here are some suggestions on making your apartment search easier.
Want to win ‘lease free living’ from an HHHunt 
You have probably heard by now that gas prices will only be going up and as we approach summer prices may be as high as $5.00/gallon! If you live in an 
Returning this year to start the 2012 Roanoke St. Patrick’s Day Celebration, the largest St. Pat's Celebrations in the entire mid-Atlantic region, is Celtic Crossroads. This group has been heralded as “The most exhilarating and authentic show from Ireland in decades…” Friday night, March 16th Celtic Crossroads kicks off the 2012 
So you have finally have your own place. You have moved into your 
