Everyone's paying a mortgage -- either yours or someone else's.
Maybe you've been renting in Denver because you think home prices are just too high. (They are high, I'll give you that.) We have record high demand for homes and record low supply. Basic economics tells us that that dynamic pushes up prices, and that's not reversing until something else changes. At some point, you can't afford not to buy.
Here are some things to consider.
Mortgage rates are on the rise. For every 1% increase in mortgage rates, you lose 8% in buying power. (That's due to the higher cost of borrowing.)
Homes prices are projected to increase by 8-10% this year.
According to an October 2016 report by Trulia's chief economist, it is 45% cheaper to buy a home in Denver than it is to rent an apartment. If you want to buy in the Mile High City, there's no better time than the present.
No matter how much you rent you will never gain any equity. It's lost money. When you buy, that money goes toward an asset that you own. Once you own a property, you can leverage it to buy another. The compounding effect of home ownership is huge, and it can set you up for financial security.
Contact me today to take that first step.
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