Which is better, to rent or buy? A lot of people consider renting as an easier option, but I have to say that right now would be a fantastic time to buy a home in the Boulder area. If you are on the fence and debating between renting or buying, or just deciding if buying is right for you, let me help. I can help you understand why Buying A Home In Boulder Right Now Is Good For You. I can guide you through this process and figure out what is best for you and your specific situation!
Low-Interest Rates Equals A Higher Purchasing Power
Buying now is a good idea and one great reason is the incredibly low-interest rates we are experiencing right now. Interest rates are at incredible lows which is fantastic for buyers as it increases their purchasing power. How does that work? A low-interest rate reduces the total cost of borrowing and increases a buyer’s purchasing power by making higher-priced homes available at lower monthly payments. This is a great time to talk to your lender and start the process of getting preapproved before you start looking. You can reach out to me if you don’t have a preferred mortgage expert and I can suggest a few.
Why Buying A Home In Boulder Right Now Is Good For You – Financial Benefits Of Buying
There are some big benefits to you purchasing your home instead of renting. Some say that renting is really paying someone else’s mortgage when you could be earning equity on your own property. Purchasing your home is investing in your own future. It is also very helpful in building credit and can help you years down the line. This investment will continue to grow with you the longer that you are in your home. However, sometimes people think that buying a home is too expensive because of the large upfront costs in the form of a down payment. Unless you are eligible for a VA loan, you will need to save up for the down payment you will owe at closing, but it is a myth that down payments are always 20%. You can purchase a home with as low as 3% of the purchase price of the home and for those that qualify, there are down-payment assistance programs. In the end, buying a home might be more financially possible than you think. There are also several other financial benefits when you own your home. Most mortgage interests and certain closing costs are generally tax-deductible. This will be helpful during those early years when you’re paying the bulk of your mortgage interest. These tax benefits can help buyers keep more of their hard-earned money in their own pocket.
Making It Your Own
Pride in owning your own home is probably one of the number one reasons my clients enjoy purchasing their home. It helps them have a sense of stability and security. Owning your own home also gives you the opportunity to make your home completely yours! This can be anything from paint colors, to light fixtures, to better appliances, and so much more. When you think of what your dream home will look like, is there outdoor space for grilling or family get-togethers? These things could be hard to find in a rental home, but when buying a home you can make this a priority. Even if the home doesn’t have some of the things you desperately want, you have the freedom to renovate. Having the power to make any and all modifications that your heart desires is amazing. Kitchen, bathroom, and office remodels are very popular ways to truly make your home feel uniquely yours. If you want to find out what renovating your Boulder area home might be like, read this blog post.
Putting Down Roots
Another reason why buying a home in Boulder right now is good for you is that it gives you the opportunity to put down roots. I believe this past year has taught us that community and the people around us are very important. Buying a home that you will be staying in for several years will help you build those ties to your community and neighbors. This also allows you to have a financial impact because your taxes are benefiting local infrastructure and organizations. You can also choose to get more involved in how things are run and contribute to improving your community. I am proud to say that I’m a member of the Superior Chamber of Commerce because I love being involved in my community and helping local businesses thrive.
How Can I Help?
If you have any further questions about Why Buying A Home In Boulder Right Now Is Good For You? Please reach out to me! I want my clients to know I am here for them. I am still keeping social distancing guidelines in check when it comes to showings for my listed properties as well as taking the utmost care when showing my buyers homes. If you have any questions or concerns, please feel free to reach out and contact me! I will continue to provide my clients with interesting and up-to-date information so they can make informed decisions. If you are planning on buying or selling a home in the near future and you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me!
If you would you like more information about the Boulder area or the real estate market specifically, click here to download my current market report on the area or visit this link – http://elisabethnelsonrealestate.com/market-report-newsletter/
Luxury Home Specialist & New Home Specialist
Coldwell Banker Realty
(303) 916 5859