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Single family home in Wilmington NC
Are you thinking about moving to WIlmington NC and trying to decide if you want to rent or buy?
Think about the following:
It is almost the same price to buy a house as rent when looking at monthly expenses.
Rentals prices are going up. In our market currently we have major movie productions coming into town. Everyone wants to rent furnished homes. At the same time we have the summer beach rental market ready to take off. This creates huge demand and demand drives up prices,
In some beach markets you can’t find a rental.
At Wrightsville Beach it is almost impossible to find a yearly rental. I have seen people advertise week after week looking for a rental with no success. I have helped owners rent condos at WB and we have had 4 calls in the 1st 2 hours the condo is available for rent. Rents are expected to rise 5% this year according to Steve Harney a realty expert who analyzes national trends.
Also you will be missing out on the mortgage deduction if you rent.
Since homes prices are so low currently and will be for the rest of the year along with mortgage interest rates it is the perfect time to consider a purchase rather than a rental.
Even movie people expected to be here for a short time might consider the purchase of a condo or townhome to sell when their movie wraps up. Our company has buyers doing that right now. By next year although the appreciation is not expected to be huge, it will be an investment with a write-off that would not be a total loss to rental payments.
Call me and I will show you how to convert your rental payment to an investment….
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