Joint Base Charleston Real Estate

Charleston AFB - To Rent or Buy?

June 22nd, 2011 8:20 PM by Jodie Ford

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.

  • While home prices may still continue to drop, the COST of owning a home will most likely increase
  • Mortgage rates are slowly on the rise, and experts predict that this trend will continue
  • Right now, it is less expensive to own than rent in 72% of major U.S. cities (*information provided by the KCM group)
  • Rental costs are continuing to rise

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 Charleston
Military Homes of Charleston is part of the Exit Realty Charleston Group and 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 Charleston
Buying 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. Call (843-475-9313) or email today, and let’s make this your best move yet! You’ll feel right at home with me.   Email Torri or Visit Me On Facebook!

 

Jodie Hurt, Military Homes of Charleston
I 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 

 

Charleston AFB Real Estate, Charleston AFB Real Estate For Sale, Charleston AFB SC, Joint Base Charleston, Joint Base Charleston Real Estate

Posted in:General
Posted by Jodie Ford on June 22nd, 2011 8:20 PM

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