Should You Rent or Buy at Smith Mountain Lake, VA

If you’re familiar with Smith Mountain Lake, VA, it may be because you’ve visited before, have family here or maybe you grew up in the area and always dreamed about a Smith Mountain Lake waterfront property. If this is you, then you don’t need to be convinced that SML as a perfect place to put down roots. What you so need is help choosing whether to rent your first Smith Mountain Lake home or become a Smith Mountain Lake homeowner. 

Is Renting at Smith Mountain Lake, VA for You?

Across the nation, there is a trend toward renting, especially with the millennial generation. Concerned about another recession and preferring flexibility, today’s potential homebuyers are extra cautious. Renting might be for you if you want to learn the community better, save for a down payment or put some time into planning the custom waterfront property you’ve waited years to have. However, the economy is stabilizing and home values the best they’ve been in a long time. So don’t settle for renting when buying a home may be the best choice. 

Buying at Smith Mountain Lake May Be a Better Option Than You Think

Homeownership is a smart investment and the SML real estate market is always strong, which means your money is likely to go much further than renting. With more than thirty years of experience as a real estate agent at Smith Mountain Lake, Deb Beran has witnessed the market ride the highs and lows of the economy extremely well. 

The financial comparison between renting and owning alone is a convincing reason to choose homeownership. Rent costs are escalating across the nation, meaning your monthly payment could get you more in a mortgage, not to mention be invested in your own pocket instead of your landlord’s.

What’s more, Smith Mountain Lake is a thriving, growing area and you’ll love being able to customize your own property for the lifestyle you want.

In summary, Smith Mountain Lake is a resort-like location that offers much more than your average waterfront community, meaning there will always be plenty of investment interest to keep it moving forward. Consider buying a home of your own instead of paying someone else’s mortgage. 

Want more information on renting or buying at Smith Mountain Lake, VA? 

Contact Deb Beran Properties. We’d be glad to help!