If you’re renting an apartment, a condo, or a house, you might be thinking about where your money is really going.
And if you are, you’re not alone.
Thousands of people in the Grand Junction area are becoming owners instead of renters – but is it the right choice for you?
Is Buying a House Better Than Renting?
There’s no one-size-fits-all answer to the question of whether buying is better than renting. For many people, renting just makes more sense; there’s no maintenance involved (and if you have a maintenance issue, you make one phone call and you’re done), you don’t have to worry about equity, and in some cases, your rent payments are lower than a mortgage payment would be.
But for others, it makes more sense to pay for something you’re eventually going to own outright. Many people also experience a certain sense of pride in ownership, as well.
Are You Ready to Buy a Home?
If you’re kicking around the idea of buying a home instead of renting, ask yourself:
- How are your finances? Do you have good enough credit to get a competitive interest rate?
- Do you have enough money for a down payment? You’ll need a significant amount unless you’re buying with a certain type of mortgage, such as a VA loan or an FHA loan.
- Can you afford house payments? Remember that you’ll be paying for homeowner’s insurance, stashing away cash for repairs, and other expenses that you don’t have when you’re a renter.
- Can you perform basic home maintenance? You’ll save a lot of money if you can fix a leak and otherwise do minor jobs around the house.
If you can answer “yes” to these questions, you just might be ready to buy a home. If not, now’s the perfect time to start saving for a down payment, improving your credit score, and learning how to tighten a dripping faucet.
Are You Looking for a New Home in Grand Junction or the Surrounding Communities?
If you’re looking for a new home in Grand Junction, Fruita, or any of the surrounding communities, we’d love to help you find it.
Call us at 970-765-4135 or get in touch with us online. Tell us what you want from your next home and we’ll start looking right away.
In the meantime, please feel free to explore our Grand Junction real estate listings by price:
- Grand Junction, Colorado homes for sale from $100k to $200k
- Grand Junction, CO real estate from $200k to $300k
- Homes for sale in Grand Junction between $300k and $400k
- Grand Junction real estate listings between $400k and $500k
- Grand Junction, Colorado homes for sale from $500k to $600k
- Grand Junction, CO real estate from $600k to $700k
- Homes for sale in Grand Junction between $700k and $800k
- Grand Junction homes for sale from $800k to $900k
- Grand Junction, Colorado homes for sale from $900k to $1 million
- Grand Junction, CO real estate listings over $1 million