Relocating to North Carolina
Looking to relocate to the Triangle? Can't say we blame ya, and you’re not alone either. Each day, 85 people are moving to Wake County for a multitude of reasons. The Triangle constantly finds its communities on top ten lists ranging from “Best Place to do Business” to “Best Place to Raise a Family”. Whether you are drawn to our genuine southern charm or our idyllic weather, we tend to agree with all the publications that the Raleigh area is a phenomenal place to call home.
At The Logan Group, our goal is to help you understand which part of the Triangle is right for you. We will work together to understand your needs and desires not only for what you want in a home but what you want in a community. TLG strives to provide the boots-on-the-ground insight and expertise that you just can't find online and at a time where you need it the most.
Advantages of Buying
- There are instances in which the cost of ownership can be less than renting.
- The buyer has control of the property and realizes that the acquisition of the home is a capital gain.
- The buyer has “forced” savings, which can be important when the buyer pays down the balance by a substantial amount.
- The buyer experiences tax advantages. Up to $10,000 in property taxes and interest on up to $750,000 of mortgage debt can be itemized for tax deductions.
- The buyer experiences personal freedom by being able to redecorate, remodel, or make improvements as they see fit.
- The buyer experiences fewer restrictions. There are a fewer number of rules that the homebuyer must abide by, which includes restrictions as far as pets, children, and noise goes.
- When mortgage payments are made on time, the homeowner can achieve a better credit rating.
Advantages of Leasing
- The upfront cost to lease is less money. The funds that would normally be used toward a down payment or higher mortgage payments can be invested into savings accounts that may give higher returns.
- Renters have a limited responsibility because they do not have to take care of home repairs. The landlord is responsible for most repair costs.
- The renter has less of a tax impact on their financial situation. The renter is not impacted by such items as property taxes that can fluctuate.
- The renter may be able to budget easier. Rent is an amount that is fixed and may even include utilities in the rental amount. A fixed amount can allow the renter to set a budget easier because the renting cost is set.
- The renter has more mobility and flexibility to move since leases tend to be short-term, 3-15 months.
- Insurance costs are lower for renters because the renter only needs to insure the contents of the rental property and not the structure itself.