The question has arisen more and more. Should I rent or buy? The answer is personal to your situation. While mortgage rates and housing prices are low, there is still a lot to be said for renting an apartment in Charlotte, NC.
Based on your financial situation, your job situation and frankly, how much time you want to spend on home repairs, the answer could be very different for every individual or family.
There is much to be said about renting. Sudden roof leaks or broken appliances can make your wallet take a hit. Unforeseen home expenses cannot really be incorporated into a budget.
If there is any possibility that you will not stay in the Charlotte area or that your job will relocate you, renting may be a better option. Closing costs and fees can really add up, not to mention the first several years of mortgage payments go to the interest alone not the principal.
But there is an even more practical reason for renting. Maybe you just don’t have any interest in home repairs and cutting the lawn. Apartments are the solution to maintenance free living without the condo fees. With so much to do in Charlotte, NC your time off should be your time off to spend however you like.
Talk to a financial advisor and review your expenses first when considering renting, but here is an easy calculator from HGTV to help you determine what you can afford.
Contact Auston Woods Apartment Homes if you want more information on renting in Charlotte, NC.