Making the leap from renter to homeowner isn’t as treacherous as you think. Homeownership offers many benefits that renting doesn’t.

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Why buy instead of rent? Here are a few facts that demonstrate why it’s much wiser to buy and own your own home. 

First, rent prices in Colorado Springs rose more than 11% in 2016 and continue to rise in 2017. In fact, the latest Colorado Springs Gazette article states that prices have risen 10.5% in the first quarter alone. The average rent for an apartment is slightly more than $1,100 per month, while the average mortgage payment for a house is also $1,100.

When you own a home, you have more freedom to do what you want. There are also considerable financial gains to owning a home. For example, you will get a tax benefit for your mortgage interest deduction, and your mortgage payment will stay the same over a long period of time instead of rise as rents are prone to do. 

"Wouldn’t you rather own a home with your own yard instead of rent an apartment?"

Lastly, studies have shown that the average homeowner is worth 45 times more than the average renter. The only caveat to purchasing a home is you must make sure you will live in that home for at least three to five years so the purchase makes sense.

Why not get started by building equity in your home and building your wealth?

If you have any questions about the benefits of owning a home or you’re thinking about buying or selling a home, don’t hesitate to reach out to me. I look forward to speaking with you. ‚Äč