When you think about buying a Denver home, does it scare you because of the financial risk? Right now, you need to consider if it is a safer investment than the stock market. It’s possible you really haven’t thought about the “risk” of not buying.
For the majority of people, owning a home is the most reliable way to achieve financial security. Without it, you may find that in the future you will not have access to the capital necessary to pay for your children’s education, retire when you want or even start a new business.
Equity is the solution. When you make a monthly mortgage payment you are putting your money into a type of savings plan. Over time, you build “equity” in your property that can be converted into cash when you sell or used as collateral if you should want to remodel, send kids to college, etc. However, think twice about using your home to buy cars, pay off credit card debt or take vacations. You don’t want to think of your home as an ATM. It is a long-term investment.
Tax advantages are for homeowners, not renters. As a renter, you are being deprived of tax breaks. Homeownership is one of the last remaining tax shelters. You can save a substantial amount each year on your federal income taxes. There could also be tax advantages when you make your home more energy efficient with new appliances, solar systems, etc. Check out the federal government websites for more information, or talk to your tax adviser.
Investing for the near future makes good sense. Over time, your house could significantly increase in value, making it one of your best investments. It can also make it possible for you to “move up” to a larger home in the future.
Security is a wonderful feeling. Owning your own home gives you a sense of security. You can plan on your housing costs staying the same over time, with the exception of taxes, insurance and, if applicable, home owners association dues. When you finance your home with a 30 year fixed mortgage, your principal and interest payments never change. Financial experts generally suggest that to retire, you will need to build up enough in savings and investments to generate a yearly income of 70% of your pre-retirement income. For that reason alone, now is a good time to buy a home!
The home buying process is simple and straightforward. You will be making two purchases, a home and a loan. I will help you through both processes to ensure that you have access to all the information I can provide so that you make a smart decision and have a position experience.
In the State of Colorado you have the right to full representation when purchasing a home. I firmly believe that the smart way to buy a home is with a Buyer’s Agent.
The seller’s agent will never give you that type of representation. The seller’s agent can treat you as a “customer”, which means that the relationship is only between the seller and the seller’s agent. Or, the agent can become a Transaction Broker that means the agent will represent both parties in reaching an agreement, but a Transaction Broker cannot counsel either party on what or what not to do.
Buyer’s Best Choice Brokers only act as Buyer’s Brokers. We believe in you! It’s a smart way to go!
For starters, make sure furniture is doing double duty. Invest in ottomans with hidden storage to stash remote controls and blankets and a coffee table with drawers or a bottom shelf to hold magazines. Consider putting a chest in the foyer to store sports equipment and shoes or installing coat hooks on the wall to free up more hall closet space.
