IS IT TIME TO STOP RENTING IN CHARLOTTE AND BUY A HOME?
Have You Been Asking Yourself These Questions?
◊ Am I tired of rising rents?
◊ Will it be less expensive for me to buy versus renting?
◊ Will my income increase as quickly as my rent?
◊ Will it be more or less expensive to buy next year?
◊ Is 2021 finally the year to stop renting, to buy my Charlotte area home and stop paying my landlord's mortgage instead of my own?
Video: Are You Tired Of Rising Rents?
More Reasons To Own A Home & To Stop Renting
And then there are the other benefits of owning a home -- such as building net worth for your family (the net worth of a home owner is 40x that of a renter). Then there's the fact that a mortgage locks in your monthly housing cost for decades. No doubt that every market is different, but before you renew your lease, find out if you can put your housing costs to work by buying this year!
Rental Outlook For The Charlotte, NC Region
What's the rental outlook in Charlotte, North Carolina region right now? As the chart below shows, the cost of renting in July 2021 increased 7.8% versus the same period one year ago. We've seen consistent rent increases for at least three years now and throughout 2021. Year-to-date rents have increased 9.5%.
July 2021: Rental Report For The Charlotte, NC Region
Rents have risen consistently over the last 30 years, and they're not showing signs of stopping. Let's connect today if you're ready to purchase a home and move on from renting.
Part of the cause of increasing rental prices stems from a lack of rental inventory in high-demand areas. For the Charlotte region the number of active rentals was down 54.3% in July 2021 versus the same period one year ago. In Mecklenburg County, rental inventory was down 55.6% year-over-year. In the City of Charlotte, rental inventory was down 53.9% year-over-year.
Are renters are seeing income increases at levels sufficient to cover off the increasing cost of housing month after month? It's doubtful.
Will waiting to buy also cost more as time goes on? Yes, it will. The infographic below clearly shows just how much it might based on current projections for home appreciation and interest rate increases.
So is it time to buy your Charlotte metro area home and stop renting?
It would appear the answer to this question is a definite YES!
If you're a renter who wants to stop paying your landlord's mortgage and lock in your housing costs, build wealth, and become a homeowner, you can search for homes on my website:
SEARCH ALL CHARLOTTE METRO AREA HOMES
This information about the advantages of buying a home versus renting is provided by Nina Hollander with Coldwell Banker Realty, your Charlotte region residential real estate expert. We've been opening doors to homeownership for Charlotte region renters for 20+ years. We can open the door to your dream home, too!
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
"The Right Broker Makes All The Difference."
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