N
orth Carolina is a hotspot for a growing trend in the real estate market: building new homes specifically to rent them out. In fact, the state ranks second in the nation for this type of development, with Charlotte being a major hub.

    For some, like Sheryl De Sa and her family, renting a built-to-rent home is a temporary solution that allows them to wait until they find the perfect house to buy. They're currently renting a three-bedroom house in the University City area for $1,875 a month, which is comparable to what they'd pay for a mortgage.

    However, not everyone sees this trend as beneficial. Charlotte real estate agent Trev Swint argues that more rental properties mean fewer homes available for sale, which can make it harder for people who want to own their own home. He notes that the city's inventory has increased by 24% in recent months, but still lags behind a balanced market.

    Swint also points out that renting a house versus buying one may not be as cost-effective as it seems, especially when considering the long-term costs of maintenance and property taxes. On the other hand, some renters appreciate the extra space and amenities that come with living in a built-to-rent community without the added expenses of homeownership.

    While downpayment assistance programs are available for first-time buyers, Swint believes that these options aren't enough to offset the lack of inventory in the market. As he puts it, "We're taking land away from people who want to own and have ownership."