Denver Rents are Unaffordable!
We hear it constantly, rental costs are going up! In the Denver Metro market, most people are spending over 30% of their income on rent. The worst part? That money is not building the renter equity. That money is making the landlord richer. Make the smarter move and buy your own place. There are lots of townhouses, condos and detached homes available in the Denver area looking for new owners.
A recent report released by Zillow shows that buying is a better deal because the median home price will cost less than 20% of the average person’s income. That’s a lot of money saved per month. You can also deduct the interest paid on your mortgage – something you cannot do with your rent.
Many renters have roommates to afford the rent. Imagine buying a home and having a roommate pay half your mortgage. Win win! This is a great way to gain equity using other people’s money. So find an interested party that wants to live with you and start the home buying process.
With rents being higher than mortgages, now is the time to buy. As far as the down payment goes, you just need to buckle down and save. Many people also qualify for down-payment assistance. Call us and we can discuss great lenders with you to get your pre-qualified. Having a great lender in the competitive market is very important.
Denver Rents are unaffordable and The Strange Team would love to help you! Our aggressive buyer’s agents are getting buyers under contract UNDER asking price resulting in saving the average buyer over $8,000. Call us today!
Stop paying into someone else’s equity, become a proud homeowner and keep all that equity for yourself. Homeownership is a great investment and worth the efforts it takes.