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Old 06-12-2016, 09:18 PM
 
476 posts, read 296,603 times
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I've been comparing rentals throughout SC and they are easily 3 times the amount per month than a mortgage would cost. Sure it's long term but it's way less expensive. It's also hard to find rentals that allow you to have pets.
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Old 06-13-2016, 05:49 AM
 
Location: Charleston, SC
2,901 posts, read 3,063,874 times
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I thought the same thing, but my co-worker explained to me, many people cannot afford a down payment. Many people cannot qualify for a mortgage. Many do not have a large sum of money to use to purchase a home. Consider those of us that have homes to be blessed.
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Old 06-13-2016, 06:08 AM
 
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Mobility. Pick up and move when.ever where ever. Also its nice having someone come to change a light bulvlb for you free
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Old 06-13-2016, 07:13 AM
 
Location: Lake Greenwood
693 posts, read 1,107,055 times
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I rent a home on Lake Greenwood. My landlord pays for pest control, he's quick to perform any needed repairs, and there's no way I could purchase a home on the lake for what I pay in rent.
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Old 06-13-2016, 07:53 AM
 
284 posts, read 165,398 times
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Quote:
Originally Posted by Silver-Fox View Post
I thought the same thing, but my co-worker explained to me, many people cannot afford a down payment. Many people cannot qualify for a mortgage. Many do not have a large sum of money to use to purchase a home. Consider those of us that have homes to be blessed.
There is a new program... well actually it stopped in 2013 and just came back. It's CONVENTIONAL so no PMI, only 3 (or 3.5)% down! All of the big banks are offering it. I wish there was more marketing towards it. Criteria:


680 or above credit score
DTI below 40 something %
You cannot make more than the median area income you're buying in
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Old 06-13-2016, 09:13 AM
 
Location: Murrica
3,149 posts, read 1,799,287 times
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Mobility for me as well. I can get a VA 0% down tomorrow, but I'm waffling.
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Old 06-13-2016, 10:27 AM
 
Location: New York
1,610 posts, read 1,636,552 times
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Quote:
Originally Posted by DC Fairwinds View Post
I've been comparing rentals throughout SC and they are easily 3 times the amount per month than a mortgage would cost. Sure it's long term but it's way less expensive. It's also hard to find rentals that allow you to have pets.

When you add the mortgage, interest, property taxes, homeowners insurance, utilities and maintence in, homes are usually more expensive.
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Old 06-13-2016, 11:05 AM
 
Location: Murrica
3,149 posts, read 1,799,287 times
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Originally Posted by reenzz View Post
When you add the mortgage, interest, property taxes, homeowners insurance, utilities and maintence in, homes are usually more expensive.
Not in SC.
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Old 06-13-2016, 12:02 PM
 
7,945 posts, read 3,193,894 times
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In SC your property taxes go up a lot if it's not your primary home. In many cases that gets passed down to the renter.
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Old 06-13-2016, 12:08 PM
 
476 posts, read 296,603 times
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Originally Posted by reenzz View Post
When you add the mortgage, interest, property taxes, homeowners insurance, utilities and maintence in, homes are usually more expensive.
Actually the mortgage monthly payments I'm seeing include property tax and insurance. Maintenance isn't a big deal for me and my husband. We built our own home here in VT. We are handy. LOL.
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