Old Mill Townhomes

In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it.

Home ownership is on the decline, and renting is on the rise. But the trend isn't limited to the housing market. Across the board, Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to a Rentership Society.

The unsentimental fact about the American dream is that Americans never really owned it in the first place. For the past three decades, especially, consumers haven't so much bought their quality of life as they've borrowed it from banks and credit card companies.

Now consumers are following the example of corporations, becoming more efficient. And it starts at home.

Housing is the biggest single component of consumption in the U.S. economy and the source of much of our present misery. The typical consumer spends about 32% of his or her budget on shelter. In the last decade, that generally meant borrowing a lot of money to take "ownership" of a home.

During the boom, the homeownership rate grew steadily, peaking at a record 69% in 2006.

Ownership-boosters failed to note that homes purchased in 2005 and 2006 with no-money-down, interest-only mortgages weren't really bought. They were simply rented until the "owner" flipped them or walked away from the mortgage.

In the post-bust climate, renting has emerged as a much more economically efficient way to pay for housing. A one-year lease represents a far less onerous financial obligation than a 30-year mortgage. It's difficult to get into too much financial trouble as a renter. The homeownership rate has fallen from its peak in 2006 to 65.4% today.

For an increasing number of Americans it makes more sense to rent. According to Moody's, by late 2011 it was cheaper to rent than to own in 72% of American metropolitan areas, (such as Lynchburg) up from 54% a decade ago. And the more people who do it, the more socially acceptable and desirable it becomes. The decline in the ownership rate means that about three million more households rent today than did at the height of the bubble.

It's tempting to view the rise of renting as an economic step backward. But many would argue the rise of renting is a sign of a system adapting to new realities.

The U.S. economy needs the dynamism that renting enables as much as, or more than, it needs the stability that ownership engenders.

And the rising popularity of renting is hardly contained to the housing market.

Finally, perhaps, Americans are absorbing a piece of wisdom from Thoreau: "And when the farmer has got his house, he may not be the richer but the poorer for it, and it be the house that has got him."

For information on renting an apartment in Lynchburg, contact Old Mill Townhomes.

Wall Street Journal

Lynchburg is once again in the running for a $100,000 prize in PetSafe's Bark for your Park contest.  Old Mill Townhomes, a community of townhomes in Lynchburg, VA is a pet friendly apartment community. We love our resident dogs and we want you to have a great dog park.

May is going to be a busy month for dog lovers in Lynchburg. The city is going to once again participate in the Bark for Your Park contest, in which money is awarded to the city with the most votes. This year there's also a chance for two runners up to get $25,000. Lynchburg came in second last year.

That money will go toward funding a dog park. The group Friends of the Lynchburg Dog Park has already raised enough money to build phase one, which is just a fence. They're starting work on that in the coming weeks. They will be busy putting up a fence in what will be the new dog park, so they are asking a group in the community to head up the efforts for that competition.

The group still needs money for phase two--benches, water, and other amenities.  You can vote once a day, twice on both the website, http://www.petsafe.net/barkforyourpark/and on Facebook, https://www.facebook.com/PetSafeBrand/app_321086731284099.

Tax day is fast approaching. Do you still need to file yours? There are many benefits to living in a townhouse in Lynchburg, VA, but you may not think that tax deductions are one of them.

As a renter, you often get more for your dollar spent. By renting at Old Mill Town Homes, you can live in a beautiful community full of apartment amenities. You also get to live in an area of Virginia with so much to do.

Now, let’s talk about tax breaks for renters. As you know, this is one of the advantages of owning a home. But, not always. As a homeowner, if your annual mortgage interest payment and your other deductions aren’t greater than your standard tax deductions, you will not receive any tax benefit from owning a house.

However, you can always qualify for some type of tax deduction as a renter.  A large portion of your rent is tax deductible every year. If you rent, you're probably better off taking the standard deduction.

Additionally, if you have a home based business, you can also deduct expenses for the business use of your apartment. These expenses include your monthly rent, renters insurance, and utilities. A home office deduction is available to you as a renter.  

There are two basic requirements for the home based business tax deduction. 1. Regular and Exclusive use - which means this part of your apartment is regularly and exclusively used for business 2. This must be your principal place of business.

Old Mill Town Homes, a community of town homes in Lynchburg, VA would like to remind you to check your outside pets for ticks. This winter, because it is so mild has seen more ticks than normal. Area veterinarians say the tick population is much worse than they typically see in the winter.

On Friday, animal hospitals around Lynchburg treated about a dozen dogs with tick bites.

It is thought that the mild winter is to blame because usually at this time of year, adult ticks are dormant far below the leaves.

As the temperature continues to drop, so will the number of ticks; and, unfortunately, the same thing goes for outdoor fleas, so make sure to check your pets.

Many people are told when they are younger that renting is only for college graduates or people who cannot afford to buy.  Many parents hammer these ideas into their children and tell them that renting is equivalent to throwing money away every month.  Fortunately, today people are beginning to finally think for themselves and challenge these ideas.  Here are 4 reasons to pat yourself on the back for deciding to rent an townhouse in Lynchburg, VA at an HHHunt Community!  

1.  Renting can save money

At the very minimum you’ll be shelling out PITI for your home. That is:

• Principal
• Interest
• Tax
• Insurance

The PITI doesn’t include property maintenance like maintaining the yard, paint, plumbing, repairs, decorating, etc… When you rent an apartment in Lynchburg at an HHHunt community, the monthly payment is almost always quite a bit less than the PITI in your area and there are no maintenance expenses!

2. Homeowners’ tax deductions are overstated

According to research quoted by MSN, “… half of homeowners don’t get a break, because even with mortgage interest and property taxes, their total deductions do not exceed the standard federal tax deduction ($11,900 for couples and $5,450 for singles)”.

For these folks, it’s like spending $100 to save $20. They’re better off saving the difference and investing it.   Even if there is a “break” on your taxes, you typically had to spend more than you would have spent to rent to get back that $20 for every $100 spent in interest payments.

3. Renting gives you flexibility

For the up and coming young professional, you’re better off renting and saving for a few years than to buy a small condo. Who knows how fast you will outgrow it?  When you own a home, you can’t always sell it when you need to sell it at the price you want to sell it in order to accept a new employment opportunity.  If you have owned a home and don’t want the constant maintenance responsibility, renting gives you the opportunity to enjoy your weekends instead of completing that “to do” list.

4.  Our superb service teams!

Most apartment communities offer 24 hour emergency maintenance and technicians who are skilled in HVAC, plumbing, and electrical.  At an HHHunt Community, our service teams take great pride in offering prompt and professional service to you.  Whether you need a light bulb changed or a new compressor for your AC unit, we are there to take care of you as fast and efficient as possible.  We are always a phone call or email away and most service requests are performed on the same day or within 24 hours!

This is the time when college kids come home from school and their town homes in Lynchburg, VA and relax. Many of them have just had a very challenging week, and perhaps the exams didn’t come out as perfectly as they would have liked. Well, here are some study tips to bring back to school with you. 

Stress is part of the college experience, and it’s something we need to learn to deal with in life. We don’t, however, have to let it get the best of us.

No matter how many tests and papers you have, stress does not have to take over. You can do well in school without giving in to the stress.

Tests and finals are a huge part of college life. Here are some top tips for keeping stress at a minimum during exam week:

1. Avoid stressful people.
Stress actually is contagious. During exam week, resist the urge to have a study session with a –tense or stressed out friend. Their stress will add to your stress.

2. Eat healthy and exercise.
This seems like a no-brainer, but it’s a wonder how many people forget it. Skip the sugar, which will make you crash, and go for healthy snacks like granola bars, cereal or fruits and veggies which keep your blood sugar stable. If you’re studying for a long time, eat some protein too. It is definitely important to get some exercise, even a 10 minute walk will leave you calmer and more focused. When you feel the most overwhelmed is a great time to put it away and go for a short walk.

3. Just say NO.
Say no to the people who want to take up your time or who want to spend time doing the wrong things. There will be a friend who needs to talk, or a party some night when some friends are done with exams before you. Resist these urges.

4. Force yourself to take breaks.
For every hour or so that you work, take a 10 minute break. Relax for 10-15 mins, then start again. This gives your brain some rest and helps keep you focused when you are studying.

5. Visualize it all going right.
Imagine yourself taking the test and feeling confident that you know all the information. Picture getting all of the answers right, picture how relaxed you feel, picture the A on your test paper. Professional athletes and successful business people do it, you should too.

6. If you’ve studied all you can, have confidence!
Have confidence when it is time for the test. You have studied and prepared and now you are ready.
 
Original article College Fashion

It is the season for holiday parties. Inevitably you will end up with a stain on the carpet in your townhouse in Lynchburg, VA.  Here are a few hints on how to remove some of the most common stains.

Cigarette burns:

• To mask the damage, snip off the darkened fiber ends.
• Blot the area with a solution of 1 tsp detergent and 1 tsp vinegar in a quart of warm water.

• Gently blot with dry-cleaning solution
• Rinse with a solution of  1 T ammonia in a cup of water.
• Animal Stains & Fruit Juices
• If the stain is stil wet, try repeatedly sponging with lukewarm water.
• Blot dry and treat with a solution of 1 tsp detergent and 1 tsp vinegar in a quart of warm water. After waiting 15 minutes blot again and sponge with clean water.

• Oil-based paints can usually be removed with turpentine
• Water-based paints clean up with water.

• Blot ball-point ink with denatured alcohol as soon as possible
• Permanent ink can’t be remved but you can minimize the damage by blotting with water.
• Have fun at your party, and good luck with the stains!

• Blot the spill with paper towels or a clean cloth.
• Combine 1t carpet shampoo (or dish soap) and 1C hydrogen peroxide. Soak a clean sponge in the mixture, squeeze it halfway dry, then gently blot the stain. Continue until the stain lifts.
• Sponge the stained area with warm water.
• Blot dry with a clean cloth or paper towels.

Happy Holidays from Old Mill Townhomes. Have fun at your party, and good luck with the stains!