The Meadows Castle Rock CO | Buying Remains Cheaper Than Renting in 39 States!

The Meadows Castle Rock CO | Buying Remains Cheaper Than Renting in 39 States!

At the local level in Castle Rock, Colorado, buyer confidence remains strong and inventory of homes for sale remains low.

This is particularly true in and around The Meadow’s 80109 zip code.  The addition of the Castle Rock Adventist Hospital, desirable schools, the new I-25 exit/entrance ramp and new stores and businesses make The Meadows one of the busiest areas in Castle Rock.

Today I would like to discuss why Buying Remains Cheaper Than Renting in 39 States!

According to the most recent Rent vs. Buy Report from Trulia, homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas. Colorado is no exception!

The numbers show the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level.  It concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the 2 shades of blue in the map below).  Colorado is considered “A LOT” cheaper to buy than rent.

A big reason owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows.

Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Real Estate Bottom Line

Buying a home makes financial sense. If you are a currently renting and who would like to discuss your ability to buy a home, let’s get together and find you your dream home.

Source: KCM Marcy Ruberto Blog

Buying a home is one of the biggest financial investments you will make.  It’s important you have a knowledgeable agent on your side who is an expert in the local real estate market.  I live and work in Castle Rock.  When do you want to be enjoying your new home in Castle Rock?

I am happy to provide you with the most updated strategic information for your home purchase in Castle Rock, Colorado.

To reach me, please call 303-638-6536 or email marcy@premierdenverhouses.com

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Thinking of Selling Your Home? Let me sell your home with my 10 Proven Strategies. Call or text 303-638-6536 for more information.