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

Financial Freedom For Retirees in Renting – Glen Allen, VA

Joseph Coupal - Tuesday, February 21, 2017

The Gardens at Twin Hickory Apartments, Glen Allen, VAA growing number of homeowners are using the equity in their houses, by selling and moving into an apartment.

One couple sold their home two years ago, but they didn't buy a condo. Instead, like a growing number of people downsizing, they rented.

He often woke up in the middle of the night last month as he often does. This time, though, he rolled over and went back to sleep.

That's when he knew that after more than two years of turmoil, he was finally home. The fact that the roof over his head belongs to someone else only added to his peace of mind.

They are among a growing number of downsizers, who are choosing to rent rather than buy a retirement nest. It is a choice that can be physically, mentally and financially liberating.

The couple is healthy and vibrant. But a couple of years ago, their two-story home of 32 years was "just consuming too much time and it was absorbing huge amounts of energy that we wanted to use in other ways." There were rooms they didn’t even use.

"We wanted to leave while we still could — gracefully."

The emotional and financial decision to rent rather than buy is becoming more common.

Many retirees have had a really good run by owning their own homes for many years. They've accumulated a lot of equity. They have a feeling that the market is going to go back down again and all the benefits of this great market are going to be lost if they don't cash in.

At the same time, these home sellers can't necessarily see spending hundreds of thousands, plus maintenance fees, on a condo.

Many retirees don't want the responsibility of owning a home any longer. With an apartment you can close the door and go away.

Some are open to renting or buying.

"Buying any of the condos we looked at would have consumed a huge percentage of our net worth. You don't want 50-, 60-, 75-, 80 per cent of your net worth in one piece of real estate. It's just too risky.

The couple pays rent every month and they only write just three checks a month — rent, electric/gas and cable. When they lived in their house, there were 15 to 20 regular expenses.

Gone are the bills for a security system, for chimney repairs, sewer connections and maintenance agreements on appliances.

Community is important too. Many can rent in an apartment community where they know and can meet other residents.

Is renting a condo saving them money on a monthly basis?

Maybe not. But it isn't costing more. And  they can take the proceeds from their home sale and invest the money.

Releasing the equity on your house can actually generate enough cash flow to cover rent.

For people rich in equity but cash poor, renting can give them the freedom to pay for some of the extra things they want in life. It's all very well to watch your home's value appreciate, but you can't eat a doorknob.

If the decision to rent or buy a smaller home is a financial wash, then go with the better emotional fit. That frequently depends on whether you are comfortable giving up the control of owning your own place or whether you really need the cash to cover the cost of enjoying retirement.

If you're going to rent and invest your home's equity you need to look carefully at where you're putting that money so you're not seeing your old age security benefits clawed back.

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

#HowYouLive
thestar.com


What's it Like to Live in Richmond, VA?

Joseph Coupal - Monday, February 13, 2017

The Gardens at Twin Hickory, Glen Allen, VAMore than 7 million tourists visit the Greater Richmond region each year to explore its rich American history. Patrick Henry gave his famous "Give Me Liberty or Give Me Death" speech in Richmond's St. John's Church and, as the former capital of the Confederacy, the metro area was at the epicenter of the Civil War. Modern-day interests can easily be found in the region as well, including world-class museums, a vibrant food scene and a wide array of entertainment options from concerts and theater performances to family-friendly festivals.

The only region in America with whitewater rapids running through its downtown district, Richmond is a major financial center with banks like Capital One Financial and SunTrust Banks calling it home. Richmond is also the seat of Virginia's state government. And, with a wide range of housing options and a below-average cost of living, the Richmond metro area – which includes suburban areas in the counties of Chesterfield, Hanover and Henrico – appeals to a varied demographic, from young families to retirees.

Downtown Richmond is anchored by Virginia Commonwealth University, which draws a large crowd of younger part-time residents. But this college town (also home to the University of Richmond) has plenty to offer families and older residents, as well. Each of Richmond's neighborhoods exudes a unique personality, from the historic 19th-century homes in Church Hill to rustic farms and family-friendly suburban communities in the outlying counties.

Rankings

U.S. News analyzed 100 metro areas in the United States to find the best places to live based on quality of life and the job market in each metro area, as well as the value of living there and people's desire to live there. Richmond ranks as #24 with an overall score of 6.9 out of 10.

Richmond, VA - #24 in Best Places to Live

  • 6.9 Overall Score
  • 6.7 Quality of Life
  • 7.1 Value

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

#HowYouLive
US News


Decorating Ideas for Your Apartment in Glen Allen, VA

Joseph Coupal - Monday, February 06, 2017

The Gardens at Twin Hickory, Glen Allen, VARenting is fast becoming the preferred option for everyone from millennials to baby boomers; many cite the flexibility of not being “tied down right now” as their number one reason for sticking to a lease. Thankfully, renting doesn’t have to mean standard-issue ecru walls and sad vinyl floors, either. From quick cosmetic fixes to easy swaps, it’s never been easier to upgrade your apartment in Glen Allen, VA without forgoing your security deposit. Here, a few easy adjustments that will turn your home from fine to fab in no time.

Swap light fixtures

Light fixtures in rentals are usually not the coolest—and sometimes they’re downright depressing. (Ahem, fluorescents.) Luckily, these can easily be swapped out for something that suits your taste. Most swaps are simple enough to do yourself, but be sure to hire a licensed electrician if you want to add anything more complicated, like a ceiling fan.

Switch to dimmers

Low lights add a lot of instant ambiance, but most people don’t realize how easy it is to swap their regular wall switches for dimmers. Just be sure to follow directions from a reliable source—and always cut the fuse before working on a project involving electricity.

Add color

Being tame with color is arguably the most common mistake renters make. Color gives a room life. Try painting one wall for a rich and quick-to-repaint accent, or try removable wallpaper for a dose of pattern. Vendors like Chasing Paper and Tempaper offer excellent options for every taste.

Upgrade window treatments

Swap cheap plastic blinds for something more luxe, like linen roman shades or silk drapes. Pro tip: Hang your window treatments just a few inches above the top of your windows to create the optical illusion that your ceilings are way higher.

Swap hardware

If you’ve ever wished your bathroom looked like a spa, here’s your big moment. Swapping out fixtures like showerheads, drawer pulls, and faucets is a relatively easy trick that can elevate your space and create a cohesive story. Not only do these little details make a big difference, but there are also beautiful options at every price point.

The Gardens at Twin Hickory represents a new style of living in the beautiful and exclusive Twin Hickory Neighborhood in Richmond’s West End. Enjoy unmatched comfort in spacious floor plans with 9’ ceilings and gorgeous crown molding. Get your dream kitchen with two choices of finishes; our classic chef-style kitchen with bright white cabinetry and white appliances or contemporary chic with mocha wood cabinets, black appliances, granite countertops and planked-style flooring.

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

#HowYouLive
Vogue



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