Rocky Mountain High… Rents

Rocky Mountain High… Rents

With rents at an all-time high along the Front Range, it is an ideal time to consider buying. This goes for current renters as well as potential real estate investors. For real estate investors:

  • Vacancies are low
  • The metro Denver area continues to attract new residents
  • Build outs of new rentals are not keeping pace with demand

For renters who want to become homeowners:

  • A mortgage payment could be lower than your rent payment
  • Landlords may let you our of your lease if they can charge someone else higher rent
  • You can avoid a rent increase when it is time to renew
  • FHA down payments can be as low as 3%

Homes are selling briskly as well, with the average Denver area home staying on the market for just under 20-days. Buyers should be prepared to move quickly on homes that meet their criteria.

Steps for buyers to get the best result in shopping in today’s market:

  • Talk to a lender and get pre-qualified
  • Work with a Realtor who understands your specific needs
  • Choose a Realtor with a large network who can alert you to listings before they come on the market
  • View properties as soon as possible – that great house may already be under contract by the weekend