Are you planning to rent instead of buy a home in Denver? If so, you might want to reconsider. The most recent real estate market numbers show that the market is now favoring buying in many cities where rent has dominated the past couple of years.
This year, Denver rents are heading higher as more and more people turn to renting due to the downturn in the real estate market. The increase in the number of renters will cause rents to go up about seven percent each year for the next two years.
Denver homes prices are also low enough to create a significant buying opportunity. These two factors create a real estate market where buying now makes more sense than renting.
Although owning a home typically leads to higher annual bills and costs, they can be offset from gains in value. Ultimately, researchers compare these gains against the investments that renters are able to make to determine whether buying or renting is the best option at any given time.
If you are moving to the Denver area or looking to finally purchase a home in this buyers market, give us a call at (303) 778-8222. We will help you navigate the Denver real estate market and find the home that is right for you.
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