The Decision to Own or Rent involves so many variables.
Here’s some pros and cons of buying or renting a home in Colorado
Advantages of buying a home:
Building equity over time
Tax benefits
Creative freedom
Putting down roots
Costs associated with buying a home:
Earnest money
down payment
appraisal/inspection fees
property taxes
insurance
closing costs
Loan payments
Utilities and monthly expenses
Maintenance and upkeep (generally 1% of your home’s value annually)
Furnishing, repairs, renovations
Advantages of renting a home
Predictable expenses
Flexibility
Less risk
Easier to qualify with credit
Costs associated with renting a home
Security deposit
First month’s rent
Nonrefundable deposits
Laundry
Monthly expenses like utilities or internet
My rule of thumb is whenever you’re not sure what decision to make, gather more information…One of the ways to gather more information is to talk with a realtor to answer your questions about the real estate market and the possibility of buying a home.
Read more details here
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – [email protected]
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
Also….check these out??
Search Homes for Sale in Cherry Creek School District
