Should I rent or buy a home?

Our parents’ generation considered this question a “no-brainer”!
OF COURSE, you should buy a home!
However, as Bob Dylan sang, “The times they are a-Changing . . . “ 

It is a personal choice and can be the most expensive purchase you’ll make in your lifetime. So, we have listed below just a few of the many factors to help determine what is the right choice for you.

Rent vs Buy

Financial Situation/Liquidity

Can you afford to buy a home? Approximately one in three American households rent their home, according to the most recent U.S. Census Report data. This is the highest it’s been since the early 1960s! Renting an apartment typically involves few costs other than paying the rent and utilities. Purchasing a home typically requires money for a down payment, closing costs, and maintenance.

Age and/or Stage of Life

Data shows that those just starting out and those at the end of their working years prefer to rent. They prefer to invest their money, use it for other purposes and generally desire less responsibility for yard work and repairs.

Flexibility

Today’s world has changed dramatically in just one generation. We have replaced our roots with wings and become a global civilization. It is now common for young adults to leave their hometown to pursue a career or educational opportunity far from home. Technology and flexibility in the workplace allow for employees to work from “virtually anywhere” so proximity to a business center is not important. People often don’t want to be “tied down” by home ownership.

Winning Your Dream House

Benefits to Buying a Home

Investment

Purchasing a home allows you to develop equity. Hopefully, over time, your home will not only maintain it’s value but increase in value. Real Estate will always hold some value. By owning your home, you would be able to profit from the property’s appreciation in value.

Stability

Most homeowners get a mortgage to purchase that property. Rent can fluctuate at the landlord’s discretion but the common fixed rate mortgage will remain the same over time. Also, most leases last just one year so the turnover of tenants is high, but homeowners typically stay in their home for years allowing for a more stable community.

Personalization

In a rented home, you will have to live by the landlord’s rules and regulations. This might prevent you from customizing the place to your personal liking. Owning a home allows you the freedom to decorate and design your home to a place you really wanted to live in. And the more you customize it, the more it feels like home, and the more you won’t want to leave.

What is Best for You?

What is best for me?

There is no easy answer. This is just a brief overview as everyone’s situation is different. Our local Real Estate market is constantly in motion which also has an effect on the actual costs and benefits of renting vs owning. 
Please email us at inquiries@logpondrealty.com for more information.

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

Serving the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Family Fun Around the Triangle

June is right around the corner and that means that summer is almost here! Now is the time to make plans for some summer activities.

Raleigh is filled with great family-friendly activities and is a great getaway for the entire family! From outdoor parks to kids’ museums, annual festivals to adventure courses, the Raleigh area has it all!!

Marbles Kids Museum

Your Guide to a Great Time

All of the activities outlined below are very affordable and includes both indoor and outdoor activities and are sure to entertain even the most discriminating kid!

Marble Kids Museum – At Marbles Kids Museum in downtown Raleigh, play is the name of game. The museum includes many hands-on exhibits and award-winning programs. This museum knows exactly how to bring the fun.

North Carolina Museum of History – North Carolina has a fascinating history, and if you want to discover all of it in a dynamic and immersive setting, then the North Carolina Museum of History is the place to go.

North Carolina Museum of Natural Sciences – Appeal to the museum buffs in your family with a trip to the largest natural history museum in the Southeast.

Pullen Park – Pullen features a miniature train that visitors can ride, a kiddie boat ride for youngsters and paddle boats for relaxing trips around the park’s lake.

Triangle Rock Club – Boasting the highest indoor rock wall in a five-state radius, TRC features a state-of-the-art indoor climbing facility with indoor rope climbing, bouldering, and fitness classes.

Triangle Rock Club

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

Serving the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

The Simple Truths of Real Estate: Part 1

There are certain things in life that are always true. It always rains the day that you forget your umbrella. The sun rises in the east and sets in the west. Every day. The New England Patriots win the AFC East every year. Sorry New York Jets fans.

Just like in life, there are some things in real estate that are always true; no matter the geography or the market condition. Beginning this week, we will look at a few simple truths of real estate.

It doesn’t matter what the neighbors’ home sold for in the past

Home values are dynamic. They rise and fall with market conditions, just like a company stock on an exchange. What a house was worth five years ago, last month or even last week has no bearing on the value of a house today. This can be a difficult pill to swallow.

If you didn’t sell your home two years ago or even last year when the market was at it’s highest, there is nothing that you can do about it now. Thinking, “I shoulda sold last year” or “I coulda gotten more money for my house” is a waste of energy. As I always say to my kids, “with a woulda, a coulda and a shoulda and a dollar, you still can’t buy a cup of coffee at Starbucks!

Or more simply put, “you can’t go back in time, so stop worrying about it.”

Home Prices are Dynamic

How to Maximize the Value of Your Home

Even if you didn’t sell when the market was at it’s highest, there are some things that you can do today to maximize the value of your home. Here are some simple steps:

  1. Catch up on any deferred maintenance around the house. Guys, its time to pull out that “honey do” list and get caught up on some of those projects you’ve been delaying around the house.
  2. Make sure the major systems; HVAC, electrical, plumbing, etc. are in good working order.
  3. Curb appeal counts. Keep things clean and tidy.  Plant some flowers in the front years. Cut back the hedges. Rake up the yard. Remember, you don’t have a second chance to make a first impression.
  4. If your house is living in the ’90s, it may be time for an update. Focus on your kitchens & baths: These are the areas of your home that will generate the most return. You can always change a kitchen, but you can’t pick up a property and move it.
  5. Work with an agent that understands your neighborhood to determine the best way to market your home.

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Wednesday Wind Down

Checking out some great places around the Triangle to enjoy a wind down on a Wednesday

If you are looking for some great places to “wind down” midweek, there are lots of great options around the Triangle. From wine to wellness to watching movies, there is something sure to please.

Wine Down @ Peak of the Vine 

We recently stopped by Peak of the Vine at its new location in Historic Downtown Apex. The Peak of the Vine is a unique combination of a wine lounge and wine shop. Enjoy the warm and friendly atmosphere of our lounge as you sip on exceptional wines from around the world; or choose your favorite bottles to take home.

On our visit, Kelly enjoyed the daily sangria special while I enjoyed a Chardonnay from Slovakia. Both were great and were a perfect way to enjoy “Wine Down Wednesday.”

The Peak also features live music, karaoke and open mic nights. If you are looking for a great place to meet with friends in Historic Downtown Apex, you should consider a visit to the Peak of the Vine.

Cheers! Wine Down Wednesday at Peak of the Vine

If wine isn’t your thing here are some other great ways to enjoy your Wednesday wind down.

Wind Down Wednesday Concert Series @ Waverly Place 

Get ready to turn up the volume on Wednesdays this summer! The Wind Down Wednesday summer concert series returns to Waverly Place.
The whole family is invited to relax and soak up the summer sun, all while listening to summertime tunes from one of the areas local bands.

Arrive early to take advantage of special offers from select Waverly Place retailers and restaurants. Then head to the Park to enjoy a variety of food and beverage options available for purchase during each performance. The Waverly Place Playground, sponsored by WakeMed, will be open and ready for action for younger visitors.

Concerts start at 6:00 PM & Admission is free. Stop by the Waverly Place website for more information.

Wind Down Wednesday Concert Series @ Waverly Place

Wellness Wednesdays

The lawn on the Coastal Credit Union Midtown Park at North Hills is transformed into an outdoor fitness studio. These events encourage participants to “Get Your Fit On” by promoting whole-body wellness through a wide variety of fitness concepts.  

Sessions run from April to June and begin at 5:30 PM. Visit the North Hills website for more information

Wellness Wednesdays at North Hills

Wednesday Movie Night

On the first Wednesday night of the month, the Halle Cultural Arts Center in downtown Apex hosts a Wednesday Movie Night. The movies include recently released movies geared towards teens and adults.

Contact the Halle Arts Center for a complete list of movies at halleculturalartscenter@apexnc.org.

The Halle Arts Center in Historic Downtown Apex

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Triangle Market Stats Q1 2019

Triangle Market Report Q1 2019

Q1 2019 is in the books but the real estate market in the Triangle NC region is looking like a repeat of 2018. Many of the trends in Q1 mimicked those from the same period last year. 

What increased? Inventory growth, sale prices & days on market, while inventory within the resale market < $300,000 decreased. Historically March is the hottest month of the year in the resale market and this was true in 2019 in the below $300,000 market. 

While new home construction has helped relieve the lack of inventory in other submarkets, due to the cost of land and development costs, there are very few new construction options in the $300,000 and under market across the Triangle. 

Quarter1 also saw a welcome decrease in mortgage rates. Current buyers have a stable mortgage rate environment and this is projected to continue throughout 2019.

New Listing: Spectacular North Raleigh Condo

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.