Rent or Buy a Columbia SC Home?

With both Columbia SC home prices still at attractive levels and interest rates at all-time lows, now may be the time to buy your dream home. The question renters are always asking is, "is it cheaper to own or to buy a Columbia SC home?" Stacy Johnson looks at owning versus renting in this short video…

In some markets, the break even point is 4 to 5 years, but in other areas, buying a home wins out in less than 2 years. There are wild markets where residents must wait up to 14 years for buying to make more sense than renting.

There are a host of factors potential buyers should think about when considering the leap, including the down payment, mortgage and rental payments, buying and selling costs, property taxes, utilities, maintenance costs and tax deductions. The analysis adjusts for inflation and forecasts home value and rental price appreciation.make more sense than renting.

For more tips on buying a Columbia SC home, check out our Columbia SC Home Buying Tips under the Columbia SC Real Estate Categories in the column to the right.

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