Renting is extremely expensive in this climate. If you live in the Denver metro area, getting into an apartment can be upwards of $2,000. You have to consider your deposit, first month’s rent, pet deposits, and possibly the last months’ rent. If an apartment is $1200 a month that means with deposit and first month’s rent is $2,400. There are loan options available that allow people with that kind of cash to buy a home and TCR can help you find them so that you can buy a home in the Denver Real Estate market, today!
Free from the landlord
One of the biggest things we believe in here at TCR is that owning your own home is part of your financial freedom. TCR has been fighting for people’s freedom for decades and we’ll fight for yours. Once you own a home, you can make some real decisions about where you are going to live and how long you are able to stay there. There is added responsibility but you are free from paying someone else’s mortgage or having to deal with inspections and other parts of renting. A home can be an asset when it is kept up. Over time, it becomes as asset and is the foundation of your family’s wealth. Buying a home builds your wealth, not someone else’s wealth. If you choose to move and want to rent out your house, you can do that as well and continue to build your wealth.
Freedom and Financial Health
Think about your freedom but also think about your financial health. Most people aren’t rich enough to rent. The wealthy can rent because they have high enough income that they can afford to borrow something. For those of us with less of a high-net worth or income, it is simply cheaper to own and build wealth with the home as an asset. Homes are tremendous assets. Often people can buy a home but might need help with it’s expenses and bills. Here at TCR, we’re always looking for ways to help our clients make their house work for them and not the other way around. A home can be an asset, with a little tweaks. Often, our clients have created lofts that they rent out for side income or to help meet the mortgage. A finished basement (if done to code) can also serve as a place to have some roommates that will help turn a home into an income-generating asset. Some people even rent out rooms on AirBnB to help turn their home into a business!
Don’t be Afraid of Homeownership
There have been many think-pieces on home-ownership and why younger people aren’t entering the market. Many young people in their mid-to-late 20s, who would ordinarily be getting ready to buy homes came of age during the Great Recession. That has scared a lot of younger buyers away. Here at TCR, we think that’s crazy! The Great Recession is over and now is a great time to buy a house. We understand that the freedom of renting has some appeal but it’s just too costly over the long term! The agents here at Town and Country Realty can help alleviate the fears of renting. If you are scared of buying a home in Denver, call and talk to us! We’ll help you find great reasons to buy!
It might seem weird that if you can afford rent in your current situation, you can buy, but it is true! You can build your personal wealth and build a future and use your home as a tremendous asset.
Don’t worry about rising rents and the ever higher costs of getting into places to rent. Now is the time to buy a home in the Denver area! Town and Country Realty is here to help you do just that!
Town and Country Realty strives to make responsible homeowners out of people from all walks of life. Young, old, multiethnic, multiracial, immigrants and families alike, can be confident that our team will do our best to set you up to succeed. Because a stronger YOU means a stronger WE.