Tired Of Renting In 2019? So Many Good Reasons To Be!

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Is It Time To Stop Renting In Charlotte And Buy A Home?

 

Are you tired of renting? Is 2019 finally the year to stop renting, to buy your Charlotte area home and stop paying your landlord's mortgage instead of your own? 

 

Is it time to consider how much less expensive it might be to buy versus renting when you see how much of your income goes to rent versus how much goes to paying a mortgage? Will your income go up as quickly as rents might increase? Will it be more or less expensive to buy next year?

 

 

 

Video: Buying Remains Cheaper Than Renting A Home

 

 

 

Video: The Cost of Renting Versus Buying A Home

 

 

 

 

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 nes worth of a home owner is 44x 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 in 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 January 2019 increased 5.4% versus the same period one year ago. We saw rent increases throughout 2018 and it would seem the trend will continue in 2019.

 

It's also worth pointing out that the recent tax valuation of commercial properties in Charlotte/Mecklenburg County increased tax values significantly. You can expect landlords to pass on those tax increases to tenants at some point.... another good reason to fix your monthly housing expense with a mortgage.

 

January 2019: Rental Report For The Charlotte, NC Region

Charlotte Region Rental Report Jan 2019

 

 “Based on information from the Carolina Multiple Listing Services, Inc. "

 

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 37.3% versus the same period one year ago. In Mecklenburg County, rental inventory was down 34.2% year-over-year. In the City of Charlotte, rental inventory was down 31.3% 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 chart below clearly shows just how much with increasing home prices and interest rates.

 

Infographic: Should I Buy A Home Now Or Wait Till Nest Year?

 Cost of Waiting to Buy A Home

 

 

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 ALL CHARLOTTE METRO AREA HOMES HERE

 

 free home listing alerts from greathomesincharlotte.com

 

 

This information about the advantages of buying a home versus renting is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We have 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 how:

 "The Right Broker Makes All The Difference."

 

 

Great Homes In Charlotte

 

 

Originally published at: https://greathomesincharlotte.com/buying/tired-of-renting/ 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2018 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Tags:
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Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joyce Marsh, Luxury Market Specialist hi Joyce... I've often found that many people don't give this subject much thought until their rent increases to a point where they do start thinking about options.

Feb 16, 2019 07:59 AM #13
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders hi Gabe... of course, this is a song I've been singing for some years now... but I'm not stopping so long as there's a reason to buy and same money versus rent.

Feb 16, 2019 08:00 AM #14
Rainmaker
1,116,005
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - you have outlined so many reasons to purchase. Renters in Charlotte...come see Nina - she will get you into a home of your dreams.

Feb 16, 2019 08:26 AM #15
Rainmaker
4,431,073
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

All renters in your area should read this post and call you to be their agent to help buy a house.

Feb 16, 2019 08:59 AM #16
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® thanks, Sheri, for that shout-out to Charlotte renters! Wishing you a lovely weekend!

Feb 16, 2019 11:16 AM #17
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal thanks, Gita. I keep hoping more renters will decide to buy and stop wasting their money as rents in Charlotte keep going up and up.

Feb 16, 2019 11:16 AM #18
Ambassador
3,706,781
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina there are situations where renting is the better option, BUT those are few and very specific.  For most people the benefits of purchasing FAR out weights renting.

Feb 16, 2019 03:50 PM #19
Rainmaker
1,804,659
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Nina - good infographic and it really tells the cost of inaction.

Feb 16, 2019 05:25 PM #20
Ambassador
3,003,939
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Who does your wonderful videos (or is that a trade secret) Nina Hollander 

Feb 16, 2019 05:39 PM #21
Ambassador
1,588,814
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Although I work exclusively with investors buying rental property the more opwner-occupasnts the better. Scarcity brings higher rents and higher appreciation.

Feb 16, 2019 06:01 PM #22
Rainmaker
3,006,788
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  Great blog on renting or buying and more people should be calling you with your great advice.  Make it a good day.

 

Feb 17, 2019 07:45 AM #23
Rainmaker
1,496,546
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Nina, anyone in Charlotte who is thinking about going from renting to owning would be wise to contact you. Your post gives them many excellent reasons why it's a good idea to buy but, when they contact you I know you'll give them personalized reasons to show them what's best for their needs. You're someone they can trust!

Feb 17, 2019 04:21 PM #24
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto good morning, George... no doubt that not everyone can or should be a home owner... but there are still an awful lot of people out there who are wasting their money on rent.

Feb 18, 2019 05:17 AM #25
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider good morning, Grant, and thank you. I've always found that numbers "talk." And often they talk loudly.

Feb 18, 2019 05:17 AM #26
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul. These little videos are done for me by Keeping Current Matters.

Feb 18, 2019 05:18 AM #27
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joe Pryor hi Joe... your assessment is spot-on. More home ownership and limited inventory don't hurt your clients' bottom lines.

Feb 18, 2019 05:20 AM #28
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm good morning, Will. Thank you. Amazing, thought, isn't it that no one has called.

Feb 18, 2019 05:20 AM #29
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Amanda S. Davidson good morning, Amanda... thank you. No doubt that it's always about trust with any of our relationships be they renters who buy, sellers who sell and upgrade.

Feb 18, 2019 05:22 AM #30
Rainmaker
5,177,080
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers are taking advantage of the very attractive mortgage interest rates to purchase a home.

Feb 18, 2019 09:17 AM #31
Rainmaker
2,900,268
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... can't argue with that... and yet so many wait until rates start going up and then try to buy in a panic.

Feb 18, 2019 09:29 AM #32
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