Depending on your budget, financial situation, family situation and future plans, renting may be a better option at the current moment than buying. However, buying a home also have positive benefits. We're going to outline a couple of differences in renting versus buying in Carteret County. Regardless of which option you're leaning towards, we can help! Our real estate agents have been helping families in eastern North Carolina since 1925 and we would love to help you!
- When your mortgage is paid off, the home is yours
- You'll have equity in your home
- You're free to paint, renovate, etc. to your liking
- Tax credits can offset cost
- Issues with appliances and home systems are the landlord's responsibility
- No homeowner's insurance or taxes to pay
- Flexibility if you don't plan on living in the area long-term
- Renting in Carteret County can be expensive
Generally, if you're planning to buy a home, the longer you plan to stay in that home, the better. This means that you'll have more time to pay on the mortgage, therefore when it's time to sell, you'll have a better chance of breaking even or even making money. Housing markets change from year to year. However, we've seen a pretty difficult rental market on the Crystal Coast the past several years. Being that our area is popular for seasonal rentals, long term rentals can be very expensive, especially in highly desirable and popular areas.
To set up a meeting with one of our real estate agents at Chalk & Gibbs, contact us at (252) 726-3167!