Folly of Renting Wilmington NC Real Estate

http://wilmington-real-estate.com So what I want to talk about briefly is whether or not you should rent a home in Wilmington, North Carolina given prices, interest rates what it costs to rent a home these days, etc. Decidedly, without a doubt, in most price brackets, the answer definitely is, “No Way, José.” Why do I say that? Because to rent a home costs more than it does to own a home. If you put everything else aside the benefits of homeownership such as you completely control your home, you can make it however you want. There’s just a different ambience when you live in your own home that you own in your name versus a landlord’s home–many other factors–if you put all that aside and just look at the money, follow the money, it costs much less to own a home in many different niches of real estate in Wilmington North Carolina.

So if I am very conservative my clients home actually would rent for about $1400. Meanwhile they’re paying $1000 a month for their mortgage instead, so you know you do the math, it cost them much less money to own their home. Even if they only put 5% down it’s costing much less money to OWN THE HOME. So why in the world would you rent? You save $300/month. Not to mention prices are going up so there is perhaps 3% increase in value to your home next year. Same applies to Leland NC real estate market values and rents as well. You can also check Kure Beach and Carolina Beach.

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