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 2023 finally the year to stop renting, to buy my Charlotte area home and stop paying my landlord's mortgage instead of my own? Should I lock in my monthly housing cost for years to … (30 comments)
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 2022 finally the year to stop renting, to buy my Charlotte area home and stop paying my landlord's mortgage instead of my own? Should I lock in my monthly housing cost for years to come while … (34 comments)
DID YOU KNOW THAT HOMEOWNERS HAVE 40 TIMES MORE NETWORTH THAN RENTERS?
MORE GREAT REASONS TO OWN YOUR OWN HOME AND TO STOP RENTING
If you're a Charlotte area renter, who's tired of renting and would like to declare your independence this Independence Day and make that transition from renter to homeowner, contact Nina Hollander with Coldwell Banker Realty. I can help you turn your rent payments into mortgage payments. We've been opening doors for Charlotte region home buyers for 20+ years!
We already know many of the reasons it makes sense to stop renting and to buy a home: To have a hedge against inflation and to fix your housing costs for years to come To stop paying your landlord's mortgage To take advantage of tax benefits To build wealth long-term To have control over the space you live in Owning a home remains a cornerstone of the American Dream As if these reasons aren't enough, ApartmentList.com's recent Charlotte Rent Report ranked Charlotte #10 for the Fastest Increases in Rents … (22 comments)
Is it time to buy your Charlotte metro area home and stop renting and paying your landlord's mortgage instead of your own? Is it time to consider how much less expensive it could be to buy versus renting when you see how much of your income goes to rent versus how much goes to paying a mortgage? The answer was YES in January, February, March, and April... and it's still YES in May!
Cost of Renting Vs. Buying The graph below which shows that, on average, renting "eats up" almost twice as much of your income as … (20 comments)
renting vs buying a home: Is It Time To Buy Your Charlotte, NC Area Home And Stop Renting?
- 02/18/17 05:37 AM
Have you wondered if it's time to buy your Charlotte metro area home and to stop renting and paying your landlord's mortgage instead of your own? And have you given any thought to how much less expensive it could be to buy versus renting when you consider how much of your income goes to rent versus how much to paying a mortgage? Take a look at the graph below, which shows that, on average, renting "eats up" twice as much of your income as owning does.
Also noteworthy is ATTOM Data Solutions’ 2017 Rental Affordability Report, which showed that “making monthly house payments on … (20 comments)
The two charts below show why it just might be a good time to think about buying a home. The first chart shows how much more income is needed today to afford a median priced home versus renting a median priced rental property. It's getting less expensive to own and more expensive to rent. While historically the difference between renting and buying … (23 comments)
Buying a home is 23% cheaper than renting for millenials. The top places where you can buy a home much more cheaply than renting are Texas, Florida and Louisiana so long as you plan to live in the home for at least 5 years and are putting down less than 10%. Nationally, interest rates would … (38 comments)
Rental rates continue to increase in the Charlotte metro area, while the number of available rental properties decrease. (With a strong housing market in Charlotte, home owners no longer need to rent their homes while waiting for the market to stabilize and home prices to increase.) Year-to-date, rent rates in the Charlotte area have increased 7.8%, while the number of properties rented have decreased by 3.4%, as compared with the same time frame one year ago.
In November 2015, the number active rentals in … (18 comments)
renting vs buying a home: Owning A Home Builds Your Family's Wealth: Why You Should Buy Not Rent
- 10/28/15 06:46 AM
Owning a home has a significant impact on building your family's wealth. In fact, according to a recent study by Forbes, people who own their homes will have a net worth 45 times greater than those who rent. Just a few months ago, in June, during National Homeownership Month I wrote about how homeowners have a net worth that was 36 times greater than that of renters! The latest statistics shows that the gap between homeowners and renters is projected to be 45 times greater as 2016 rolls around.
The chart below clearly shows this increasing gap in wealth between homeowners and … (17 comments)
Average monthly lease prices increased in August 2015 by 3.3% versus August 2014. Average monthly lease prices have increased 8.3% on a year-to-date basis. With the number of active rentals decreasing over 37% in August 2015 alone, it's probably a safe bet that average lease prices will continue to increase in the forseeable future.
5 Reasons It May Be Time To Stop Renting And To Buy A Home In Charlotte:
“the national apartment market’s annual effective rent growth rate of 5.1% in June 2015 represented a 47-month high, and continued a streak of 5.0%-plus rent growth that is now the longest in at least six years, according to apartment market research. The effective rent growth in June 2014 was 3.7%, putting June 2015’s exceptional performance into perspective. This is the highest rate since the … (22 comments)
YOU, NOT YOUR LANDLORD, DECIDE HOW TO DECORATE YOUR HOME
When you rent, your landlord has a lot to say about how you decorate your home... not you. So even though your home might be your "castle," when it's a rented property it's not a personalized "castle" by any means. There are very few rental/lease agreements (maybe, even none) which allow a renter to do anything to alter a home, even cosmetically, without the landlord's advance permission. And if a landlord does give permission, it's often only … (12 comments)
IT GIVES YOU SOMETHING TO BORROW AGAINST, IF NEEDED
The equity you build in owning your own home can provide financial resources for important or significant expenses when you might not have the needed cash on hand. Such expenses could include a child's college education, medical costs, necessary addition to your home, etc. While it's never a great idea to borrow against your home's equity for frivolous items, when it is necessary to do so, it's an avenue of funding via a home equity loan that can … (34 comments)
Homeowners Have More Retirement Assets Than Renters: Did you know that experts are now predicting that by the end of the year, a homeowners' wealth will be more than 40+ times greater than that of a renter? And besides...
You Are Paying A Mortgage Whether You Rent Or Buy: it's just a question of whether you want to continue to pay your landlord's mortgage and have nothing to show for it at the end, unlike with your own mortgage where … (46 comments)
Last week I wrote about how quickly rents are rising and how much greater a percentage of your income it takes to pay rent versus a mortgage. But did you know that experts are now predicting that by the end of the year, homeowners' wealth will be about 40 times greater than that of a renter? These are not "small potatoes" we are talking about here.
Combine the cost … (42 comments)
renting vs buying a home: The Cost Of Renting Versus Buying A Home & How Charlotte, NC Stacks Up
- 05/08/15 02:18 AM
The cost of renting a home versus buying one continues to increase and renting is increasingly half as affordable as buying a home. The chart below from Keeping Current Matters clearly illustrates: That the percentage of your income needed to buy is half that of what you need to rent. The percentage of income need to pay for median rent is going up, while... The percentage of income needed to afford a median home is going down. And let's not forget that home owners have a net worth that is some 30X greater than renters on average. So owning your home … (38 comments)
renting vs buying a home: Rent Or Buy Your Charlotte Home? Either Way You Are Paying A Mortgage!
- 02/26/15 10:10 PM
Should you rent or buy your Charlotte, North Carolina metro area home? Either way you are paying a mortgage--yours or your landlord's! How often do I hear from someone the following "I don't want to be in debt and owe on a home loan?" More often than many would think. Yet, when you are renting you are, in fact, paying on a home loan (your landlord's), even if the obligation is not in your name! … (14 comments)
renting vs buying a home: What's The Best Way To Build Your Wealth In Charlotte, NC?
- 12/15/14 06:16 AM
It's official! The best way to build wealth in Charlotte, NC (or most anywhere, for that matter) is through home ownership! Did you know that the average home owner has a net worth that is 36 TIMES GREATER than that of someone who rents?
Rents have increased dramatically since 1988 (see chart) and will continue to do so in the foreseeable future. These days, buying a home can be 38% cheaper in many areas of the United States than paying rent.
The average home owner spends 13.1% of his/her income on a mortgage. A first-time buyer spends a bit more at an average … (13 comments)
IS YOUR INCOME KEEPING PACE WITH RISING RENTS IN 2023?
;)
;)
;)
