Looking for a rental?
Let me make a few suggestions:
Students:
Think about buying vs. renting
- Home ownership is a great investment opportunity. Houses appreciate in value and that is money in your pocket. In fact, in the Triangle, houses have been appreciating at a rate of 5% a year, and in some areas as much as 11%.
- You can't afford to overlook the tax breaks of home ownership. Since mortgage interest and property taxes are deductible, home ownership can save you money each year.
- Renting doesn't protect you against rising prices since landlods pass on increases in their expenses.
- The waiting game is a losing game. Don't put off buying a home, waiting for prices to come down. Interest rates are low and mortgage programs have been specifically designed to help first time homebuyers -- those who have enough income to make a mortgage payment but may not have enough cash to make a 20% down payment.
Are you a student interested in buying a condo?
Find out more about first-time buying.
Parents:
Did you know that if your son or daughter attends undergraduate or graduate school more than 50 miles away from your home, it can be advantageous to buy a kiddie condo instead of renting!
Advantages to buying vs. renting:
- Rental income from roommates can reduce your monthly expenses to the equivalent of your share of an apartment rental.
- At graduation, you will have an investment property to sell that probably will have appreciated.
- Your student's name is on the mortgage and deed, establishing his or her credit-worthiness.
Still not ready to buy?
That's OK... some day you may be. Find out up-to-date information on rental agencies in the area.
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