Charlotte, NC - Everywhere you turn, new rental apartment buildings are popping up left and right. But some experts worry this influx of rentals could affect the inventory and willingness to buy and invest Uptown.
Lisa Wilfong is a real estate agent for HM Properties. She says the growth in uptown is a good thing, but is concerned that the uptown market could get saturated with rental properties.
Wilfong says it's a sellers market in the sense that interest rates are low, and if you are in the position to purchase, you may end up paying less than if you were to rent.
But for some, moving to charlotte right away means adjusting to the area and finding your niche. Which is why she said renting could be a transition point to eventually owning your own condo.
And like all real estate trends, Wilfong said the market is cyclical. Likely what is a rental property now, could flip and turn into a condo for sale years down the road. Much like many uptown high rises did a few years ago.