Southport Oak Island Realty Group, Inc

Realtors On Oak Island NC Explain The Perks of Buying over Renting At North Carolina Beaches

Thinking about buying a home in Southport North Carolina or at the beach on Oak Island North Carolina? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own beach house in Brunswick County North Carolina.

1. Home Values Typically Go Up Over Time, Especially At The North Carolina Coast!

There’s been some confusion over the past year or so about which way home prices are headed in Oak Island and Southport NC. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up:

Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years in Brunswick County North Carolina. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising in Southport NC and Oak Island NC.

This is a big reason why buying a home in Southport North Carolina can be better than renting. As prices go up and you pay down your mortgage, you build equity in your North Carolina Beach Home. Over time, this growing equity can really increase your net worth. The Urban Institute says:

“Homeownership is critical for wealth building and financial stability.”

2. Rent Keeps Rising in Southport NC and Oak Island NC in the Long Run

Here’s another reason you may want to think about buying a home instead of renting in Oak Island North Carolina and the Southport North Carolina area is rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher or even worse the owners want to sell. According to data from iProperty Management, rent has been going up pretty consistently for the last 60 years in Southport North Carolina:

So how do you escape the cycle of rising rents at the North Carolina coast? Buying a home with a fixed-rate mortgage helps you stabilize your housing costs and say goodbye to those annoying rent increases, while still enjoying the life of living at the beach in Oak Island North Carolina or around the Southport North Carolina area. That kind of stability is a big deal.

Your housing payments are like an investment, and you’ve got a decision to make. Do you want to invest in yourself or keep paying your landlord?

When you own your North Carolina home, you’re investing in your own future. And even when renting is cheaper, that money you pay every month is gone for good.

As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), says:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

If you’re tired of your rent going up at the beach in North Carolina and want to explore the many benefits of homeownership in Oak Island, let’s talk to explore your options.

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Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

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