Moving to Beaufort...To Rent or To Buy is the Question?

So, you are moving to the Beaufort, SC area, and you are unsure of whether you can afford to buy a home. Maybe you feel that renting is the best option for you and your family right now.

While renting may sound more economical on the surface, you may actually be able to buy a home for less than it costs to rent.

Just recently, one of the top real estate observers in the country released it's "Rent vs. Buy" index for the first quarter of 2011, and the report reveals that in 72 percent of America's largest cities, it is actually more affordable to buy than it is to rent!

Historically low interest rates coupled with declining prices in many markets have combined to create super home-buying conditions. As in other parts of the country, Beaufort has seen declining median home prices in recent years, which has opened up a world of opportunity for home buyers.

Before you make your next move, we strongly recommend you consult a knowledgeable Realtor, and a good lender, and determine if buying or renting is the best option for you. You may be surprised to find that your monthly payments may be less for a purchase than it is for a rental.