The old rent versus own argument is coming up a lot lately in the media and news outlets. It really just depends on where you live that will dictate which is cheaper.
In Parker, Colorado it appears that it is less expensive to buy and own a home than it is to rent one.
I looked around at several different rental sites including Craigslist and Rentals.com and 3-4 bedroom homes in the Parker area seem to be renting really quickly. When I visited the rental sites last week a saw several homes in very good neighborhoods in Parker that are not listed for rent this week w so I have to assume that they were rented. The rents being asked for the 3-4 bedroom homes were anywhere from $1,650 to $2,100 per month. That is a lot of money to throw away each and every month for rent. Once you pay that money out in rent you will never ever see it again. You worked your butt off for a month to earn that money and now it;s gone forever. You get no long term benefit other than a roof over your head for 30 days. Sad and a bad financial decision.
People who buy homes now will look like geniuses in a few years.
For that same amount of money per month you can easily own a very nice home in Parker, Colorado. If you have a 20% down payment saved you can probably live in a much nicer home than the one you are renting for the same or less in as a monthly payment.
I know many people have had their credit dinged over the past few years and probably cannot qualify for a loan even if they wanted one right now. Some of you might be surprised to find out that yes you can now be approved for loans to get back into the housing market.
I’ve sold several homes recently and have a few buyers under contract right now that lost their jobs and homes just 3 years ago but are now back on their feet and moving forward again with home ownership. We all know that living in a home of your own is so much better and financially rewarding in the long run than renting. So why not get back into the game? Buy a home.
Some of the lending restrictions have been relaxed from the early days of the recession so many people are happily getting loans for homes when they would have been denied just 18 months ago.
Give me a call 303-941-4663 if you would like to explore your options for getting out of the rental home and back into home ownership.