The S&P/Case-Shiller national home index rose 12.2% in May compared to a year ago. This is the biggest annual increase in prices that we’ve seen since March 2006, right before the peak of the housing bubble. While this might be good news for current homeowners, it doesn’t help those who are looking for a new home. When national home prices and mortgage rates rise, it pushes home affordability beyond the reach of many.

Prices have been steadily increasing every month since June 2012, and with plenty of room for growth, they’re expected to keep rising. Some economists believe that this is the sign of a strengthening economy. Others think that this might actually pose a threat to the housing market. They fear that rising prices might lead us to another housing bubble, ending all of our progress.

Either way, renters will be able to benefit from an improving economy without feeling the sting of rising prices and rates. And, if there is another housing bubble in our outlook, renters will be saved from the woes of owning a home. This alone is a great reason why it makes sense to rent instead of buy in today’s market. Renters can pay their monthly rent at a predictable rate, and continue to save money for their future.

Those who choose to rent are also spared from the awful realities of foreclosures and high taxes on homeowners. With the market making changes everyday, it pays to have the added security by renting.

One factor that is contributing to the rise in home prices is the limited inventory of homes on the market. This drives prices up and makes finding a new home very competitive. Limited inventory is not a problem for renters right now. There is such a huge supply of apartments and rental properties that tenants have the luxury of choosing the perfect place. This also lets renters lease in an area where owning a home might be impractical, like a city.

Arcadia Run is the best choice for renters near the Washington D.C. area. Located in the beautifully historic town of Manassas, our apartments are all completely new with nine-foot ceilings, granite countertops, and balconies – and reasonably priced too. Find your next apartment in Arcadia Run!

Source:

http://money.cnn.com/2013/07/30/news/economy/home-prices/index.html?iid=H_E_News

Whether to rent or buy a home has been a highly debated topic in 2013. While many economists are claiming that this is the perfect time to buy a house, this might not be the smartest option for some. Aside from being considerably cheaper than buying, here are a few advantages to renting your apartment, and why Arcadia Run could be perfect for you:
Nicer Features

Arcadia Run apartment homes are some of the nicest in the area. Each apartment features a spacious finished kitchen with granite countertops and brand new cabinets, extended windows, and incredible nine-foot ceilings. Select apartments even have walk-in closets.

Better Amenities

Having access to nice amenities is a wonderful perk to living in an apartment community. Arcadia Run will soon have a fitness center, a playground, ball courts, a jogging trail, and a resort-style swimming pool – all for the convenience of their residents.

Ideal Location

The Washington Metro area is one of the best places to live. You get all of the great aspects D.C. has to offer, without actually living in D.C. In Manassas, not only is there easy access to the Capital, but there are also plenty of things to do in town. Arcadia Run residents have multiple dining, recreation, shopping, and entertainment options right in their own back yard.

No Repair Bills/Maintenance Costs

Maintaining an entire house can be costly. Homes are only getting bigger and repairs can be a huge unexpected expense. When renting, all repair bills and maintenance costs are the responsibility of the landlord, allowing you to spend your extra money elsewhere.

Lower Utility Costs

Arcadia Run apartments are roomy and spacious, but they’ll still have considerably lower utility costs compared to a two-story house. This is another excessive expense that residents can avoid by renting.

Flexibility

Renting an apartment gives you flexibility that you won’t find when buying a house. Whether you decide to expand your family or are looking to downsize, renting allows you to change your living accommodations accordingly. Arcadia Run offers many different style apartments, certain to have something that’s perfect for everyone.

Renting a luxury Arcadia Run apartment is the absolute best option for renters in the D.C. Metro area. With an array of different floor plans, everyone is bound to find something that fits. You won’t find these convenient and modern apartment homes matched by anyone else. For more information on the Arcadia Run apartment homes, visit www.arcadiarun.com.