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Millennials Are Renting Around Virginia

Joseph Coupal - Thursday, September 27, 2018

Abberly at Southpoint, Fredericksburg, VAThe so-called Millennial generation is all about bucking tradition. They’re marrying later. They’re all in favor of nap rooms and ping pong tables in the office.

And they’re renting apartments instead of buying.

That’s not to say they don’t want to purchase a single-family home eventually:

A survey report showed that as many as 75 percent of those young Americans born into Generation Y do want to own their own home, and most (66 percent) want to do so in the bucolic (Virginia) suburbs.

They just don’t want to do it yet:

Another recent report found that a full half of Millennials rent their homes, a figure up markedly from the 37 percent of renters surveyed just five years ago.

But why?

Why are Millennials choosing to rent, and not buy?

Purchasing a home means acquiring more debt. The most obvious reason millennials are opting to rent is the crippling debt many find themselves with in their early 20s. According to the Institute for College Access & Success, 7 in 10 college students who graduated in 2012 have student loan debt. The average amount: a staggering $29,400 – and many others graduate even deeper in the hole. The amount of student loan debt has increased an average of 6 percent per year since 2008, and there is no sign of the trend stopping.

With student debt looming, it’s no wonder millennials favor a monthly rental check over additional mortgage debt. While mortgage payments can be more affordable than rent in some cities, recent graduates likely don’t have the funds necessary to make a down payment. Beyond having money for a down payment on a home, some millennials simply don’t qualify for a mortgage. Whether they are saving up for a down payment or choose to rent as a long-term housing decision, renting allows millennials to move out quickly without the immediate financial squeeze that comes with homeownership.

Apartment life is more affordable than owning a home. In addition to the upfront cost of a down payment and a mortgage, managing a house comes with a lot of additional costs: Homeowners must pay property tax, maintenance and repairs, utilities and perhaps even association fees on top of their mortgage. An apartment requires rent and utilities, which is much more manageable for a millennial on a tight budget.

To take advantage of apartment amenities. Many apartment complexes offer amenities such as fitness centers, pools, a concierge and on-site maintenance – perks that don’t usually come with your first home purchase. Though renting an apartment in a building that has luxury amenities can come with a bigger price tag, the features cut down on other bills. Instead of paying for a gym membership and rent, renters in these buildings can pay one price and get both. In fact, the idea of having access to amenities is so appealing to some young people that they plan to rent for a while.

To enjoy city life. Many young people choose to live in urban areas because they like the atmosphere. They can walk to grocery stores, take public transportation, find night spots easily, see live concerts and access great restaurants. Millennials drawn to the energy of metropolitan areas likely can’t afford to own a home there. If city living is a priority, they’ll sacrifice homeownership to get the location, and that means renting.

To maintain flexibility and freedom. Recent college graduates want to have the freedom to move around. They’re just beginning their careers and haven’t decided when and where to settle. For this reason, renting an apartment instead of moving right into homeownership is often the smarter choice. Young people can move for a new job or to simply try out another city without being tied down to a mortgage. Rather than settling down immediately after college, millennials are focused on finding the right job, a city that fits their personality and trying new things.

For more information on apartments in Fredericksburg, VA contact Abberly at Southpoint.

#HowYouLive

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Celebrating Fall in Fredericksburg, VA

Joseph Coupal - Thursday, September 13, 2018

Abberly at Southpoint, Fredericksburg, VAWhen the crisp air of autumn arrives, there’s nothing better than fall at our apartments in Fredericksburg, VA. In Fredericksburg, you don’t have to travel far to take a major departure from the daily grind, with fall festivals, scenic destinations and heart-warming good times at every turn. Grab a sweater and go – the season is best enjoyed in the Fredericksburg Area!

1.Parks and Trails

Whether you take an urban hike along the historic Rappahannock Canal Walk in downtown Fredericksburg, venture out to Aquia Landing Park for stunning views of the Potomac River and fall wildlife, or follow one of beautiful Belmont’s Nature Trails, now’s the time to head outdoors for full fall color immersion therapy.

2. Fall Festivals

You have plenty of fall festival fun to choose from in Fredericksburg, with pumpkin patches in every direction. Pick your own future jack-o-lanterns, master a corn maze and go on a hayride at ongoing Harvest Festivals at Belvedere Plantation and Braehead Farm. Pay a visit to Miller Farms Market for local foods, garden goods and free hayrides. Head to the Stafford County Agricultural & Homemaking Fair for homemade food, craft exhibits, animal competitions and more – carnival rides, the tractor pull and demolition derby promise classic fall thrills!

3. Ghosts of the Fredericksburg Area

The countdown to Halloween is on, making fall’s deliciously spooky appeal undeniable. Where so much history fills the air, the Fredericksburg Area is said to have more ghosts than any other area in America. Locals tell tales of whispers heard in historic halls, tavern objects moving on their own, ghostly girls and apparitions of soldiers. Visit Kenmore Plantation, Chatham Manor, join a Ghosts of Fredericksburg Tour or Olde Town Carriage Ghost Tour to decide for yourself – it might be more than the brisk fall weather giving you that chill.

4. Craft Breweries

Raise a pint to fall with the complex flavors of a fine craft beer at a Fredericksburg brewery. Start your tap tour in Downtown Fredericksburg, where a new dining experience awaits at Spencer Devon Brewing. Nearby Adventure Brewing South is famous for classic lagers, seasonal stouts and ales. Maltese Brewing honors the heritage of firefighting with handcrafted brews, live music and food truck events. Head out to Stafford County to sample a flight at Adventure Brewing North and find out what’s on tap at Wild Run Brewing Co. No matter where you stop, you’ll find high quality and a friendly atmosphere – it’s no wonder the Fredericksburg Area’s beer scene is growing every year!

5. Riverside Dinner Theater

Dinner and a show is the perfect way to be part of Fredericksburg’s thriving cultural arts scene. The fall schedule of Broadway at the Riverside Center Dinner Theater was designed to entertain all season long, staging professional musical productions Thursday through Saturday evenings, along with matinees on Wednesday and Sunday. Whether you catch Sister Act before it closes in early November, or the opening of Mame that follows, you’re in for a gourmet theater experience at a top-notch venue.

6. A Smith Bowman

From its earliest Colonial days, the Fredericksburg Area has been home to talented makers of fine spirits. The tradition continues at A. Smith Bowman Distillery, where premium whiskey, rum, vodka and gin are handcrafted in small batches from the finest ingredients. Take a tour and try a tasting for a new appreciation of complex flavors and a rich heritage. Make your visit part of a journey through Stafford and Spotsylvania to discover four wineries and a brewery along the Grapes and Grains Trail.

7. Historic Museums 

Few places in America rival Fredericksburg’s history experience, having played host to the significant people and events of so many eras. Explore the past this fall at area museums to learn more about familiar themes (we’re talking about you, George Washington) – and be surprised at what you don’t know. For early American history, visit the James Monroe Museum and Historic Kenmore Plantation. Explore Civil War life at the White Oak Museum. Span the centuries in the halls and gardens of Belmont. Learn about the struggle for African American education at the John J. Wright Educational & Cultural Center Museum. Your brush with authentic American history definitely begins in Fredericksburg.

8. Downtown Finds 

Fall color rules in Downtown Fredericksburg this time of year, as harvest gold, brilliant orange and crimson red show up on everything from Main Street maple trees to gift shop windows. On a walking tour filled with interesting shops, classic Americana and tasty fare, you may wonder if you’ve crossed into another dimension – a timeless one. Order your favorite 20th century treat at the oldest continuously operating soda fountain in America, Goolrick’s Modern Pharmacy. Raise a mug to 1792 at the Rising Sun Tavern. Duck into Hugh Mercer’s Apothecary Shop to learn about the herbal remedies that kept colonial moms on top of their game.

9. Artisan Shopping

A creative renaissance is underway in the Fredericksburg area, bringing an indie vibe to local galleries and shops. Artisan creations range from handmade ceramics, jewelry, woodcrafts and clothing to contemporary fine art and sculpture at Ponshop Studio and Gallery. You’ll find all things gourmet at Whittingham. Brilliant mosaics and unique jewelry make Bluebird Glass Studio a must. Recycled wood adds rustic beauty to the handcrafted home wares of Fraser Wood Elements. There’s always something new, so let us know what you find!

10. Culinary Delights

Dining in the Fredericksburg area is always a foodie’s delight, but there’s something about the flavors of fall that make the experience even more satisfying. Breakfast at Mercantile is a local favorite, featuring doughnuts from Paul’s Bakery and pour-over coffees. Expertly made confections make breakfast, lunch and dinner irresistible at Butternut & Blue Bistro & Bakery. Careful crafting and farm-sourced ingredients make Kybecca a stellar choice. Visit Stafford for light appetizers at Zibibbo 73 – you’ll soon know why it’s earned accolades as one of Northern Virginia’s best restaurants.

#HowYouLive

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This Apartment Community in Fredericksburg has a Dog Park

Joseph Coupal - Wednesday, September 05, 2018

Abberly at Southpoint, Fredericksburg, VAThe nice weather isn’t just good news for humans, but also comes as a relief to our four-legged friends who like to spend time enjoying the outdoors. We consider ourselves animal lovers at HHHunt and can’t get enough of our adorable pets because they’re a part of our family!

Dog parks at apartment communities have evolved in recent years as residents are increasingly looking for this amenity during their apartment home search. Dog parks offer a secure location to enjoy time with your pup and let him or her play with friends. They boast lush grassy areas, play features and cleanup stations. Many of our apartment communities like Abberly Southpoint in Fredericksburg, VA, include a welcoming and spacious dog park for our residents and their four-legged friends. Teams at our apartment living communities have even noted that their dog parks are among the top amenities prospective residents inquire about when touring the community. According to an Apartments.com survey, over 70% of apartment renters owned pets.

We’re a nation that loves our pets and for many of us, our pets are an important part of our lives. Dogs and other pets offer a variety of health benefits for their owners by encouraging longevity and healthier lifestyles. Pets can even make us more social. An added bonus of the dog parks at our apartment communities is that they’re popular gathering places to spend time with neighbors and friends. At HHHunt, we believe it’s how you live that matters. Discovering innovative ways to deliver amenities that serve our residents and their pets, such as our dog parks, ensures that we’re delivering on our brand promise to be a provider of quality products and services.

For more information on pet-friendly apartments in Fredericksburg, VA, contact Abberly Southpoint.

#HowYouLive

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Abberly at Southpoint Apartment Homes

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