Time to stop renting and buy a home in Denver and metro areas

One the fence about purchasing a home? There are some things you should consider and why now could be the perfect opportunity for you to buy a home or condo.

1. Rates are truly at a record low. It is very rare that rates dip below 4% but they have in this last week. That is almost free money if you consider inflation. Why wouldn't you borrow money at that rate and then you get to write of the interest too.....even if laws change and you are no longer able to write off the interest, who cares at 4%!

2. Prices are down in most of the Denver Metro area. As a whole Denver metro areas property values are down 1.5% from last year. But Denver as a city property values are up 2%.

3. If you are renting you probably have noticed rental rates increasing. In Denver the rental rates have increased over 5% from last year. And with vacancies being at all time low since 2000, you can expect rents to increase over the next year. It quite possibly could be cheaper to buy then rent.

4. Considering a bank owned home? With the end of the year approaching there are super deals to be had with foreclosures since the banks will be wanting to close out their books and get rid of as much inventory as possible by the end of the year.

5. There are over 50 down payment assistance programs in the Denver metro area. So of these programs will lend up to 10% of the down payment with options of not having to pay the money back if you stay in the home for a certain period of time.

Now is a great time to buy a home. Of course there other things to consider as well. I can set up a time with you to go over the pros and cons and see if purchasing a home now is the right decision for you. If you have any questions about buying a home please feel free to call me anytime. I love helping people buy and sell their homes.