The Gardens at Twin Hickory

4700 The Gardens Drive, Glen Allen, VA 23059
Call: 888-621-8872 (804) 364-3649 Email UsTheGardens.CommunityWebsite.HHHunt@aptleasing.info View Map

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

The Gardens at Twin Hickory Blog

High Home Prices Makes Renting Look Better

Joseph Coupal - Tuesday, March 27, 2018

The Gardens at Twin Hickory Apartments, Glen Allen, VMillennials locked out of the housing market have this consolation: House prices have shot up so quickly that the financial advantage of being a homeowner is fast eroding in many cities.

While it’s still a better deal to buy in some cities, the economic benefit has narrowed to the point that in some places, for some households, the decision to rent or buy a home may be too close to call.

The shift has come because home prices and interest rates have risen recently, while rents have largely stagnated.

The difference between owning and renting has narrowed sharply from last year, when owners were paying roughly 41% less than renters. Add in that many apartment communities have additional amenities that you would pay for if you owned a home as well as eliminating the time spent on home maintenance.

In some popular cities, moreover, the homeowner advantage is close to being erased.

While mortgage rates have remained low since the 2008 financial crisis, rates around 7% are much closer to the historical norm. Federal Reserve officials, whose control of short-term interest rates gives them some sway over mortgage prices, expect those short-term rates to rise roughly two to three percentage points over the next few years.

It is absolutely cheaper to rent than buy when you plan to stay in a home for just a couple of years.

For more information on apartments in Glen Allen, VA contact The Gardens.

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Time- Money


The Rent or Buy Debate Doesn't Make Sense

Joseph Coupal - Monday, March 19, 2018

The Gardens at Twin Hickory Apartments, Glen Allen, VAWhen you buy a home, you pay for things you don’t have to pay for as a renter: loan interest, property taxes, insurance, and even maintenance and repair costs. That’s part of the argument in favor of renting: there are so many additional costs and factors that get overlooked. That goes for both sides, though, and the details vary depending on the situation. Here are a few commonly overlooked factors that make up the specifics.

  • How long you’ll live in the home: This varies depending on the market, but in general, the longer you’re in the home, the better, because your costs are spread out over time.
  • The cost of housing in your area: In most cases, people rent because houses are just too expensive, but it all depends on the market in your area. If renting is extremely costly in your area, it might be more affordable to buy a home.
  • The opportunity cost of your taxes and insurance: What kind of long-term return could you get if you invested this money instead, in the stock market, a CD, or even a “high interest” savings account?
  • The opportunity cost of your down payment: Similarly, how much of a return could you get if you invested that lump sum instead?

It’s impossible to say renting or buying is a better decision because each one of these factors (and more) depends on your unique situation. You have to consider where you live, what kind of house you’re looking for, how much you pay in rent, how much you’ll pay in the future...the list goes on and on.

A Rent vs. Buy calculator is a great tool for simplifying these complexities, depending on your own individual specifics. Still, a calculator can only do so much. It might tell you the better long-term decision on paper, but that still doesn’t mean it’s the best decision for you.

Your Home is a Purchase, Not an Investment

Most experts agree that you shouldn’t think of your primary home as an investment. Contrary to popular belief, real estate barely outpaces inflation over time. Sure, you could time the market, flip a house, or buy a rental, but that’s different from expecting your primary home to earn you a sweet return. The investing myth is another valid argument against buying. Many people buy homes they can’t afford or stretch their finances to pay for expensive home projects because they buy into this myth.

The bottom line is: sometimes it’s smarter to rent, and sometimes buying can work in your favor. Rather than giving in to one side or another, it’s more helpful to learn the rules, crunch the numbers, then do what works—and feels right—for you.

For more information on apartments in Glen Allen, VA, contact The Gardens.

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Excerpts: twocents.lifehacker.com


Virginia, On the List of 10 Best States To Live for 2018

Joseph Coupal - Monday, March 12, 2018

The Gardens at Twin Hickory Apartments, Glen Allen, VAWe used science and data to determine which U.S. states have it made.

Do you live in one of the best states in America?

You might think people across the nation like to think they live in the best place in the country. After all, you wouldn’t spend your lives somewhere that you truly didn’t love. Right? Not always. In fact, according to a Pew Research Center study not too long ago determined that almost half of Americans would rather live somewhere else than they do now.

Well, if you’re in one of the states we’re about to highlight, odds are you don’t want to go anywhere.

The purpose of this study is to use science to determine which of our great American states are the absolute best. While unbiased, this research does take into account factors that almost all Americans would agree are desirable. Therefore, while you may have strong opinions either way, you can’t argue against the methodology.

After analyzing all 50 U.S. states, we came up with this list as the 10 best states in our nation for 2018:

  1. New Hampshire
  2. Massachusetts
  3. Connecticut
  4. New Jersey
  5. Virginia
  6. Vermont
  7. Hawaii
  8. Minnesota
  9. Maryland
  10. Rhode Island

How we crunched the numbers for the best states of 2018

We threw a lot of criteria at this one in order to get the best, most complete results possible. Using FBI crime data and the most recent ACS 2012-2016, this is the criteria we used:

  • Population Density (The higher the better)
  • Lowest Unemployment Rates
  • High Median Income
  • High Home Values
  • Levels of College Education
  • A lot of insured people
  • Low Crime
  • No poverty

We then ranked each state from 1 to 50 for the criteria with a #1 ranking being the best for the particular criteria.

Next, we averaged the rankings into one “Best Place To Live Index”.

Finally, we ranked every state on the “Best Place To Live Index” with the lowest index being the Best State To Live in America for 2018.

For more information on apartments in Glen Allen, VA contact The Gardens.

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homesnacks.net


Richmond, VA: Retirement is Affordable, Healthcare is Excellent, and Life is Good

Joseph Coupal - Monday, March 05, 2018
  • Retirement is something to think about years before you get there.
  • Choosing the best place to retire in the US means weighing affordability, quality of life, activities, and healthcare.
  • WalletHub ranked the best US cities to live in retirement.
  • Many of the top cities are in states with warm weather.

The Gardens at Twin Hickory Apartments, Glen Allen, VADeciding where to live in retirement may be one of the last major financial decisions you'll make, and picking the right spot is important.

WalletHub set out to put worried minds at ease. The site used available data for the 150 largest US cities to find the best and worst places to lay your hat. We already looked at the worst cities for retirement, so let's take a look at the opposite: the best urban areas to live in your post-working life.

How people spend time when they don't have to go to the office every day tends to be a little different. Many dream of hours full of painting and golf, but there are more practical considerations to keep in mind too.

Along with the weather and nearby museums and tennis courts, reliable, accessible healthcare and affordable housing are important benchmarks when determining where to live in retirement.

WalletHub found that the cities below offered a great quality of life, good healthcare, and plentiful activities — all at an affordable cost.

WalletHub scored each city based on affordability, activities, quality of life, and healthcare. The four categories were weighted equally, and each city was given a total score and then ranked, with the highest overall score designating the best city. WalletHub used data for only the city, not the surrounding metro area.

We've included the total score (out of a possible 100), with a higher score denoting a better place to live, as well as its ranking out of 150 cities for each of the four categories, with a lower number being better.

27. Richmond, VA

  • Total score (out of 100): 52.80

Rankings (out of 150 cities):

  • Affordability: 38
  • Activities: 22
  • Quality of life: 139
  • Healthcare: 33

For more information on apartments in Richmond, VA contact The Gardens.

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The Gardens at Twin Hickory

4700 The Gardens Drive, Glen Allen, VA 23059

Call: 888-621-8872
Email UsTheGardens.CommunityWebsite.HHHunt@aptleasing.info
View Map

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

$1,049-$1,481