Millennials: From Renting to Buying

Posted by West + Main Homes on July 18th, 2017

Where are millennials living?

More of them are Buying homes instead of paying rent.

So many people are moving to Denver nowadays; especially Millennials. It used to be that Millennials could only afford to rent, but times have changed and buying is now the preferable option. Young adults in Denver own homes at a higher rate than their peers in the rest of the country — 34.2% versus 32.1%, according to a study from Abodo. 

Among the 45 largest metro areas, Denver ranked 15th for the most Millennial homeowners.

After trending downward over the past decade, the homeownership rate among young adults in Denver appears to have hit a bottom in 2014 at 32.8%. In 2006, before the housing bust, 43.8% of adults ages 18-35 lived in homes or condos…

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The Cost of Waiting to Buy a Colorado Home

Posted by West + Main Homes on May 25th, 2017

We hear it all the time - homeowners and renters who are "waiting for the Colorado market to cool down because prices are too crazy right now."

Makes sense, except we have been hearing folks say this for about five years now, and prices have continued to go nowhere but up. This is a quick analysis of what could happen if current sales trends continue in the Denver Metro area, with both average prices and interest rates on the rise. (Calculations include principal and interest only.)

As you can see, prices ARE rising at a fast pace...jumping almost $200,000 in just two years. So, does it make sense to wait? It depends on your situation and your financial and Real Estate goals.

If you thinking about Selling a Colorado property, it might seem…

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