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 Charleston, SC.
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 Charleston, SC area or that you will relocate, 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 Charleston, SC your time off should be your time off to spend however you like.
Talk to a financial adviser, consider your long term financial goals, and review your expenses first when considering renting or buying.
Contact Abberly at West Ashley Apartment Homes if you want more information on renting in Charleston, SC.