Looking to rent townhome in Ayrsley (Charlotte: for sale, apartment complexes, rental)

[whit5ney]

Hello all! We are a young couple looking to RENT a townhome in Ayrsley. We went and chatted with Ryan Homes about buying one, but with the economy and the fact that we are young and don't know if we'll be in Charlotte for the long run, we decided it wasn't right for us right now. We do have great credit though. Looking for a 3 bedroom for no more than $1600/mo and our current lease will be up in April. Any information or tips would be greatly appreciated. Thanks!

[rxdiva]

Across from the Ryan homes are the Lennar ones. A lot of those are either up for sale or rent, so that could be an option. I'm not sure how much they are running. I'm surprised if you want to pay $1600/mo that you wouldn't go with Ryan. I own one and my mortgage and everything is about $1500 (less than my student loans ).

[cbfrommass]

$1600 a month for something you don't own is a complete waste of money. Buy a townhome and rent it out if you don't stick around.

[Tober138]

Originally Posted by rxdiva

Across from the Ryan homes are the Lennar ones. A lot of those are either up for sale or rent, so that could be an option. I'm not sure how much they are running. I'm surprised if you want to pay $1600/mo that you wouldn't go with Ryan. I own one and my mortgage and everything is about $1500 (less than my student loans ).

And several of the Lennar ones that are up for sale have been on the market for several months, so the sellers may be open to taking a rental because they have been unable to sell.

I agree with the other posters that, for your budget, you may want to reconsider buying as opposed to having a rent payment equal to what a mortgage payment would be. Even if you're only here for several years; the market will eventually turn around, and once building is completed in the development, that should also give you a nice bump in equity once there is no longer any new construction to compete with sales of existing homes (which is likely one of the main reason none of those Lennar homes are selling). I'm not sure what your definition of the "long run" is, but if you're talking even maybe 5 years, owning would probably benefit you more than renting. If nothing else, you should have enough equity that, in leaving CLT, you would have a nice-sized chunk of $ for a downpayment on a house somewhere else.

If you are interested in renting in Ayrsley, there are two apartment complexes. One has been open for a bit and the others look to be completed in the next few months. Both have 3 bedroom units that fall within your budget.

www.cgayrsleyapts.com
www.rentayrsley.com