Is it time to stop renting & to buy a home of your own? While buying a house isn’t right for everyone, there are many benefits to homeownership such as: cost savings, privacy, & remodeling to create your dream space! So, if you are a renter in Charleston, SC, or the surrounding area, & are concerned about the rising prices, now may be the time to consider purchasing a home. According to recent statistics, rental prices have increased by over 8% within the last year & will continue to rise as the months go by. This is causing monthly rents to be higher than a monthly mortgage payment. So when you weigh your options of whether to rent or to buy, here are a few things you should consider!
Lower Monthly Payments
The increase in rent, year over year, undeniably showcases that owning a home can provide not only stable, but predicted, monthly payments. Renters face increasing costs each year! You have no say so over whether the cost of rent goes up or whether the property owner decides to sell your apartment or house. When you purchase a house, your monthly payment is sealed for the duration of your mortgage, meaning that it will always remain the same. This allows you the control to establish a budget that you feel comfortable with & gives you the peace of mind that your home will remain yours.
Your Own Fortress of Solitude
If you appreciate having privacy, homeownership may be a better fit for you! Apartments tend to have thinner walls, & worst case scenario, you could end up with a neighbor who walks heavy upstairs or is constantly blasting music next door! More often than not, a home can offer a greater sense of noise control. Your new home may even have a spacious yard or land that can further act as a buffer between you & your neighbors.
Changing your living environment to reflect your personality can be a lot of fun! As a homeowner, you are given the freedom to paint the walls any color you choose, remodel the bathrooms, redesign the kitchen, build a garden, & more. Your DIY projects are limitless! With renting, it’s not always easy to make the place you live in truly yours. Most renters need permission from the landlord or leasing agent to paint or upgrade the space in any way. With homeownership, those decisions are yours to make as long as they obey local or HOA ordinances.
Put Money Back in Your Pocket With Team Lail-Chambers!
With rents continuing to rise in Charleston, SC call Team Lail-Chambers today & determine if now is the time for you to buy! The staff here at Team Lail-Chambers, led by Bob Chambers & Pheobe Lail-Chambers, are well-acquainted with Charleston & the Lowcountry, & are happy to help you decide on the best neighborhood for you & your family. We work hard to match you with a home you'll love. Contact us today! We are ready & waiting to help you find your perfect Charleston home!