The question I’m asked is if it’s a good time to buy now here in the Broomfield and Denver market. Yes. Some of the reasons you already know if you live here and love the lifestyle too. Along with that reality you have to live somewhere and buying is generally more affordable and less expensive than renting. The Federal Reserve found that home owners accumulate 35x more net worth than renters over their lifetime. It’s still a very good idea to buy vs. rent.
Now if you live in your folks basement you are saving cash of course and yet at some point living at home does get old…for you and the folks. FOMO is the Fear Of Missing Out and no need for that. The market is still hot here and will remain a “sellers” market for some time IMO. I’ll write about that another time. Did you know that Denver real estate prices have been at all time highs for about 40 out of the last 45 years? When you hear prices are high you know yes that’s true, for 40 years! With knowledge like this you should with confidence get out in the market and buy that home to build your net worth.
While it’s difficult to buy, do it now if you can as around Broomfield it will only continue to be difficult. We have jobs and population growth that drives the demand side and a supply side that I forecast as being tight for a few more years. The awesome thing is that interest rates are still hovering around 4% and that creates home affordability. That $60k job at these rates gives buying power for around a $300k home and we can find that home.
When your ready to leave the nest or move from being a renter we can help. Total market knowledge to help you make wise decisions is what you should expect and I’m your Realtor for that task. Let’s make your plans for 2016 come out for that win-win.