When we decided we were going to relocate to Mt Pleasant we had a long argument over buying vs renting. I was all about buying a house sight unseen but my husband ( the practical one) wanted to rent. He won the argument. Honestly, the thought of unpacking then packing up again sounded daunting but I trusted what he suggested. There are both positive and negatives for both from my experience.
Renting first was great because we really got to learn the lay of the land, traffic flow, distance wise from our kids daycare, downtown, the beach and our favorite take out places. I am actually glad we did rent first because I got to know the different subdivisions in Mount Pleasant and what each one has to offer. Each subdivision to me has its unique flavor and amenities.
For us personally, the downside to renting was how expensive rent was! Depending on if you are renting a condo, townhome or house the prices can vary. I quickly realized how much more rent was than what we were used to back home in Waltham, Ma. This really made us look for a home that much sooner! On the buying side, Charleston is booming the median sales price is up 4.4% to an all time high of $250k. On the renting side, according to rent café, “The average rent for an apartment in Mount Pleasant is $1,363, a 4% increase compared to the previous year, when the average rent was $1,308.” For more information on rental market trends check it out here- rental market trends
Whether you are buying or renting, really look at the market and see what makes sense financially and long term goal/investment. Right now, there are some great deals out there for those either buying or selling.
In the end whatever you decide is a win win because you are living in Charleston! I would love to hear your thoughts on this, what you think on renting vs owning?!