Ashton Pointe Apartment Homes

100 Ashton Pointe Boulevard, Beaufort, SC 29906
Call: (877) 873-4774 Email UsAshtonPointe001@myLTSMail.com View Map

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

$963-$1233

Apartment Homes Beaufort SC Blog

Signs That It Makes Sense to Keep Renting an Apartment in Beaufort, SC

Joseph Coupal - Tuesday, May 24, 2016

Are you ready for a mortgage?

Even if you’ve been paying rent like a champ for years, taking on a mortgage is a whole different beast. Here are some warning signs that you should probably keep renting—at least for a while.

1. You recently switched jobs

If you’ve just started a new job, switched career paths, or been working sporadically for a while now, your employment history might set off some very loud warning bells with any potential lender.

2. You’re still building your savings

Saving for a down payment is tough. Nowadays you may not have to put down 20% of the home purchase price. But you’ll still pay private mortgage insurance. And while you may be eligible for down payment assistance, you’ll need to show you’ve got some savings in the bank—and then some.

If you’re emptying your bank account to make a down payment, you can be sure lenders are going to raise an eyebrow. And who can blame them?

3. Your bills are high

If you’re carrying a boatload of credit card debt, paying off a personal loan, or still trying to work down car payments, you may very well have trouble qualifying for a decent home loan. Lenders look at your debt-to-income ratio when deciding whether to approve your loan and how much you qualify for—and trust us, everything adds up.

Say, for example, each month you have a $400 car payment and $250 student loan payment, and you pay $100 toward credit card debt. If you’re looking at a $1,500 monthly mortgage payment on top of all that, your monthly debt is sitting at $2,250. So if you’re banking $4,500 a month, your debt-to-income ratio is 50%.

4. Your credit isn’t great

The credit scores you see online will be a bit different from what lenders sees (they use their own credit scoring system), but they will give you a good idea of where you’re at. Reality No. 1: You don’t need a perfect 850 to get a mortgage. Reality No. 2: The higher your score, the better off you are.

Still, different loan programs and lenders will take lower credit scores—as low as 580 to qualify for an FHA loan and 640 to qualify for conventional.

The most powerful way consumers can boost their credit score is to improve how they use their credit cards. That means the following:

  • Pay down your credit card debt
  • Pay all your bills on time
  • Keep your oldest accounts open and in good standing
  • Don’t take on new debt

Plan on working that program for several months to see a significant boost.

5. The timing just isn’t right

Wanting a house is one thing—a great thing, in fact! But being ready for a house is another. Even if you’re financially ready, there may be things in your life that need sorting first.

Not only do home buyers have to look for whether or not they can qualify for a loan, they need to look at other areas of their personal and financial life to determine if buying now is the right decision for them. If making mortgage payments is going to take away a lifestyle they enjoy, cause too much stress to stay in a job they hate, or further stress an unstable relationship with a co-signee, perhaps it is better to come up with a homeownership strategy now to find the balance in the future.

Ask yourself if a mortgage is going to change your life for the better. Because, after all, that’s the whole idea. For more information on renting apartments in Beaufort, SC contact Ashton Pointe.

#HowYouLive
realtor.com


Retirees: Should They Rent or Own? - Beaufort, SC

Joseph Coupal - Tuesday, May 17, 2016

Rent or own? It’s a question many young adults face as they try to find the right balance between their housing needs and financial situations.

These days, many older homeowners are grappling with it, too.

Home-sales data and anecdotal evidence suggest that more baby boomers are putting for-sale signs on their homes this year, seeking to unlock the equity they have regained since the housing

The median age of home sellers has risen to 54 from 46 since 2009, an indication that empty nesters who were waiting for a housing-market recovery are starting to list their properties.

Of course, planting a for-sale sign in the yard raises the question, “Where to next?” And for baby boomers—especially those with oversize houses and inadequate savings—it is a decision that could have a major impact on how they fare financially in retirement.

Unlocking equity

Although investors have been told for years not to think of their primary homes as investments, having a healthy chunk of home equity can make a big difference when it comes to planning retirement finances.

If retirement savings present the risk of a shortfall, one of the best things you can do is liquidate real-estate assets. That’s more palatable than hearing you need to keep working until you’re 72.

It is important for older consumers to consider their needs not just for the next few decades, but for the final one-third of retirement.

We know that the boomers haven’t saved enough for retirement. What they do have is equity in their homes; but do they know how to spend it? Most of them haven’t thought about the last five to seven years of their retirement, which will be the most expensive.

Asset or albatross?

Renting has advantages for older consumers. On the plus side, renters typically enjoy a wider range of housing options, flexibility (a one-year lease is a short-term commitment) and the fact that building managers handle repairs, landscaping and snow shoveling.

If a rental starts out at 30% to 40% below the prior mortgage payment, it may be worth considering. But seniors not spend more than 15% of their annual retirement income on housing—rented or owned—because as the years progress, medical expenses typically rise. (Other financial planners say seniors should spend no more than 25% on housing, and less if they own a home outright.)

The goal is to find a home that is simpler. They want a home that gives them more freedom—maybe it has no yard, or a smaller footprint.

For more information on renting an apartment in Beaufort, SC contact Ashton Pointe.

#HowYouLive
Wall Street Journal


Beaufort, SC: A Small Town To Love

Joseph Coupal - Wednesday, May 11, 2016

Beaufort, South Carolina boasts terrific saltwater bluffs and sea island culture.
Population: 12,788

Why We'd Move There

The curving, tidal Beaufort River wraps around the 303-year-old downtown and offers up terrific scenery in most directions. And then there’s the leafy historic district itself, filled with 18th-, 19th-, and 20th-century architecture, from tiny cottages and fish shacks to indigo-planters’ mansions with wide piazzas. It’s a Lowcountry town where characters abound. And the river’s pristine waters surrender such high-quality seafood that it seems folks are always gathering for a shrimp or crab boil or an oyster roast.

The Community

This isn’t Savannah or Charleston, but it’s close in flavor and geography—within 90 minutes of each. The smaller size and slower pace draw everyone from artists, retirees, and young families to live-aboard-sailboat types, fishermen, literati, and moviemakers. And Beaufort’s population skews toward the youthful side—the median age is 34.

Don't Miss

Pedal or walk along the new Spanish Moss Trail(spanishmosstrail.com), which opened last year and will one day span some 14 miles. The rail-trail greenway project gives terrific water views and already connects downtown Beaufort with neighboring Port Royal.

For more information on apartments in Beaufort, SC contact Ashton Pointe.

southernliving.com


Advantages of Living in an Apartment in Beaufort, SC

Joseph Coupal - Tuesday, May 03, 2016

When you’re making the decision whether to rent or buy, it’s important to consider the pros and cons of each. Depending on your situation and your lifestyle, there may be a clear choice. Other times, however, the decision isn’t so cut and dried. Here are some advantages of apartment living you may not have considered.

  1. No repairs. A tenant doesn’t have to worry when the dishwasher breaks or the toilet backs up or the air-conditioning no longer works. Finding someone to make the repairs – and paying for them – is the responsibility of the landlord.
  2. Amenities. Things like a swimming pool, a tennis court, or a fitness room are things that many people would like in their homes, but may not be able to afford. They’re available in many apartment complexes – particularly larger ones.
  3. Location. The location of a home or apartment is crucial. Location is also one of the factors that most directly affects the price of a building. It’s easier for an apartment complex to afford a desirable location than for a single homeowner.
  4. Security. Another of the advantages of living in an apartment is the availability of several layers of security. There are gated apartment complexes as well as complexes with security at the entrance to keep an eye on the people who enter and leave the complex. It’s also common to have alarms on individual apartments. Some of these features could be too costly for homeowners.
  5. Short-term commitment. If you are only looking for a place to live for a short period of time – for whatever reason – an apartment is usually the best choice. You can negotiate a lease that fits the amount of time you plan to live in the apartment complex in advance, or you may be able to get a month-to-month lease if you are only looking for an apartment for a few months.
  6. Cost. Because of many of the other advantages of living in an apartment, the cost for rent is usually quite a bit lower than the monthly mortgage cost for a homeowner.

As you can see, there are many advantages to apartment living. It can also be a great stepping stone to later home ownership. It isn’t unusual for people to choose an apartment in order to save money for the down payment to purchase a home. On the flip side, there are plenty of people who choose to live in an apartment even when they have the resources to live in a house, simply because they like it better.

For more information on apartments in Beaufort, SC, contact Ashton Pointe.

#HowYouLive

enlightenme.com



Ashton Pointe Apartment Homes

100 Ashton Pointe Boulevard, Beaufort, SC 29906

Call: 877-873-4774
Email UsAshtonPointe001@myLTSMail.com
View Map

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

$963-$1233