East Charlotte is a great place to live, work, and play but is it better to rent or buy a home in East Charlotte? Recent reports indicate that the cost of rent is rising in Charlotte. The cost of rent and continuing low mortgage rates mean that many people find that this is a good time to buy a home. East Charlotte is fortunate to have many established neighborhoods. Other neighborhoods are seeing rapid change as new development and population increases drive the demand for housing. Anyone watching East Charlotte real estate will see that many homes are under contract in just a few days – many with multiple full price offers. Yet, the diverse housing options in East Charlotte keep our area affordable for many.
Trying to decide if renting or buying is right for you? Check out this Rent/Buy Calculator from the New York Times. I think it’s the best online resource to help you decide which option may be right for you financially.
If buying a home doesn’t fit your lifestyle or life stage, there are many rental options in East Charlotte. New apartment developments are being built in our area. There are also classic apartment communities. Many real estate firms also list rental homes in East Charlotte.