Reasons To Rent

December 21, 2011

Reasons to rent instead of buy in Jacksonville, NC.

Whether you’re relocating to Jacksonville, NC or just looking for a new living arrangement, there are a number of real estate opportunities available to you. Your initial decision will come down to renting or buying. Both options have their pros and cons. Here are a few reasons why residents in Jacksonville choose to rent homes, apartments and townhouses.

Short-Term Housing Needs

Everyone knows that Onslow County is home to Marine Corps Base Camp Lejeune and Marine Corps Air Station New River. With these bases comes a military population of over 115,000. Many military families live off base either by choice or out of necessity. They can be hesitant to purchase homes because they have no local ties to the area and are not expecting to live in Jacksonville long-term. Camp Lejeune homes for rent is a smart choice for people who might have to move within 2 to 3 years since a property will typically have to appreciate by at least 10% to cover the costs of selling.

Less Responsibility

Renting can involve little to no responsibility for various aspects of home ownership that can be both time-consuming and costly. Expenses like property taxes, maintenance costs, repairs, insurance and utilities can really start to add up. It basically boils down to having more fixed costs for the term of the lease which can be much easier on a family budget.

No Debt or Financing Hassles

Renting a home or apartment requires less up front money. Sure there are 100% financing options out there but that forces the home owner to stay in the home a longer time to build up equity. Most 100% financing options these days are variable rate mortgages. The economic instability over the past 5 years has also weighed heavily on the minds of Jacksonville residents and their families. Many are more focused on reducing their debt instead of building long-term equity.
If you are looking for the perfect Jacksonville, NC rental property or are a home owner hoping to connect with a qualified renter, contact me today at michael@michaelbanksrealty.com or at the office at 910.219.1717.