September 9th, 2011 7:23 AM by
We get asked all the time, is it better to rent or buy? Well…..that depends in some cases….but with the current Charleston AFB real estate market; it often makes more sense to buy! Let me explain why.
As you know, cost is largely based on supply and demand. Right now, the demand for rental properties in the Charleston AFB area is huge! Many homeowners, who were forced to short sale or foreclose, are now unable to buy…..so we have an influx of ‘new’ renters fighting over a rapidly decreasing supply of rental properties.
Think back to your economics class, and you’ll remember that when supply goes down and demand goes up…..PRICES GO UP! And this is what is happening with rental prices in the Charleston AFB area.
In Summary……If you’re able to buy, then now is a GREAT time to do so! Right now, you can take advantage of tremendously low home prices, PLUS get a mortgage at a historically low interest rate.
On the other hand, the cost to rent is on the rise, and shows no signs of slowing down…..
About Military Homes of CharlestonMilitary Homes of Charleston is part is a full-service real estate team based in Charleston, SC. We understand the appeal of living in Charleston and the challenges that come with moving to a new neighborhood or state. So whether you’re looking to buy a dream property or sell one, we can help.
Torri Jacobsen, Military Homes of CharlestonBuying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. You’ll feel right at home with me. Email Torri
Jodie Hurt, Military Homes of CharlestonI specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet! Email Jodie
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