Auston Chase Apartment Homes

59 Summerlake Circle, Ridgeland, SC 29936
Auston Chase Apartment Homes Phone Number Call: 888-705-4749 Auston Chase Apartment Homes Email Address Email UsAustonChase001@myLTSMail.com Auston Chase Apartment Homes Google Map View Map
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Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$930-$1,495

Apartment Homes Bluffton SC

Apartment Living if You Are Moving Within 5 Years – Ridgeland, Bluffton, SC

Joseph Coupal - Friday, July 24, 2015

If you're planning on moving in the next five years, rent an apartment instead of buying a home.

If you think you want to buy a home, you should first consider how long you plan to stay in the area. If you think you might move again in the next few years, it's a better plan financially to simply rent an apartment near Bluffton, SC, as the first five years are the hardest for building up equity.

Why is that? There are several reasons why renting is better than buying.

First, the first five years of the mortgage are the worst years for building equity. The large majority of each mortgage payment goes straight toward interest. On a thirty year mortgage, you build approximately 5% of your home’s value in equity during the first five years of the mortgage.

Second, much of that small amount that you do build in equity will be eaten by realtors when you sell. The FSBO route has challenges and expenses involved as well.

Third, what equity isn’t devoured by the realtors will be devoured by the bank. Closing costs can add up to be a large portion of your mortgage, particularly when you’re really only concerned about the small amount of equity you’d build during that time.

Finally, the housing market isn’t the same as it was seven or eight years ago. At best, home prices are stable. In some markets they are drifting up, but lending is more difficult and the down payment required is larger than it used to be. You’re not going to make a mint by buying a house and then flipping it.

If you are interested in renting a 1-bedroom apartment around Bluffton, SC contact Auston Chase Apartment Homes.

#HowYouLive

The Christian Science Monitor


Auston Chase Apartment Homes

59 Summerlake Circle, Ridgeland, SC 29936

Auston Chase Apartment Homes Phone Number Call: 888-705-4749
Auston Chase Apartment Homes Email Address Email UsAustonChase001@myLTSMail.com
Auston Chase Apartment Homes Google Map View Map
Auston Chase Apartment Homes Facebook Auston Chase Apartment Homes Twitter Auston Chase Apartment Homes Google+ Auston Chase Apartment Homes Instagram Auston Chase Apartment Homes RSS Feed
Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$930-$1,495