By JIM PARKER
The Post and Courier
A common thread among homeowners and Realtors is that owning property builds up equity for the long term, something rentals can’t do.
That’s indeed the case. When principal is paid down on a mortgage, the owner gains a larger share of financial interest in the home. Keep paying long enough and the home can be yours, a sizable debt free investment.
But there are advantages to renting property, too. And it’s not just about price. In some cases, the monthly rental check can be as much or more than a mortgage bill.
However, leases don’t stipulate a down payment as do many purchases. The heftiest upfront cost likely would be a month’s rent. Rental paperwork usually is less involved than completing documents for a home purchase. And the lease is typically for a short term, commonly a year, so that a tenant who may be in town for a set period of time isn’t locked into a property for years and years or be forced to sell.
An example of a property that can command a hefty monthly rent is 1952 Shields Lane. The traditional, two-story home in Rivertowne on the Wando in Mount Pleasant is for rent for $2,950 a month.
There are reasons for the substantial fee, which works out to nearly $36,000 a year.
The home is situated in an upscale neighborhood that showcases amenities such as a swimming pool and golf course. It is close enough to the Wando River that tenants can enjoy recreational treats such as taking a boat out on the water.
Lindsey Blackburn, property manager for Island Realty, refers to the property as “gorgeous.” The 2,508-square-foot residence includes three bedrooms and three-and-a-half baths. Blackburn says the home features a “fireplace, hardwood floors and decks galore.”
Property landscaping is included in the rent, according to Island Realty.Meanwhile, the lot is on deep water and contains a dock and boat lift.
Another plus are “spacious bedrooms,” Blackburn says, noting that “most (of the sleeping quarters) have views of the water.”
The house is on the southern reaches of Rivertowne on the Wando. Heading north, take U.S. Highway 17 through Mount Pleasant. Turn left on S.C. Highway 41 and travel three or so miles. Make a left on Rivertowne Parkway into the community. Proceed not quite a mile and take a left on Sandy Point Lane. Follow Sandy Point and turn left on Shields Lane. Ahead is 1952 Shields Lane.
For more information, contact Island Realty at 843-886-4041 or visit www.islandrealty.com.
Reach Jim Parker at 937-5542 or firstname.lastname@example.org.