Making the Case to Buy vs Rent in WIlmington NC and local Beaches

By
Real Estate Agent with Intracoastal Realty Corp

….

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….

Posted by

Kathy Knight, Broker/REALTOR, ABR,GRI, CRS, SRF

Intracoastal Realty Corp, Wilmington NC

Let's talk about      THE BEACH!!!

Comments (6)

Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!
Great insight on making a buy or renting in Wilmington NC and local Beaches. Thank you for the information Kathy and keep up the good work!
Apr 12, 2013 07:03 PM
Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist
Hello Kathy, this article is very helpful in deciding whether to buy or rent in Wilmington NC. I will surely recommend you as the point of contact to potential clients wanting to relocate in your area. All the best!
Apr 16, 2013 09:34 PM
Petra Norris
Lakeland Real Estate Group, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale
Great article Kathy. Informative post that deals with the PROS and CONS of renting or buying a property. Thank you for sharing.
Apr 16, 2013 09:47 PM
Melissa Muse Wiggans
Real Estate Muses - San Antonio, TX
CRS, GRI, ABR - Real Estate Muses
Wilmington NC and it's  surrounding beaches sure is a good place to settle in. Regardless of whether you are renting or buying, the owner or tenant is surely a winner! All the best Kathy.
Apr 16, 2013 09:57 PM
Waynette Hoover Araj
Keller Williams Realty - Asheboro, NC
Connecting your Dreams with the Right Real Estate
Informative stuff Kathy. Clear, precise and easy to understand. Hope may of your avid readers and followers were able to find this article useful. Thank you for the post and best of luck with your listings.
May 02, 2013 01:58 AM
Pat and Ed Okenica
DRAKE REALTY Lake Oconee Ga - Greensboro, GA
Lake Oconee Ga Real Estate
Well presented article you have here Kathy. This Single family home in Wilmington NC sure looks cozy. All the best and stay the most reliable Wilmington NC agent of choice.
May 07, 2013 07:39 PM