🏘️ The Hidden Costs of Renting in Hampton Roads (And How Buying Can Save You Big)

Still renting in Hampton Roads? You’re not alone—but you might be paying more than you think.

At Virginia 1st Realty Group, we talk to folks every week who are surprised to learn how much money they’re losing over time by staying in a rental. Between rising rent prices, lack of equity, and no tax benefits, it adds up fast.

Here’s the real breakdown:

• The average rent in Hampton Roads has climbed 7% year-over-year.

• Renters have no control over price increases or lease changes.

• There’s zero return on investment—you’re helping your landlord build wealth, not yourself.

• Most renters could own for less than their current monthly rent, especially with seller concessions and first-time buyer programs.

Buying a home might seem intimidating, but it’s not something you have to do alone. The agents at Virginia 1st Realty Group are here to walk you through every step—pre-approval, home tours, offers, inspections, and closing. No pressure. Just guidance.

📍Call us at 757-371-7011 or stop by our Smithfield office at 915 S Church St. Let’s run the numbers together and see if owning is within your reach—it might surprise you!