New Listings September 2024

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521 Cornell Avenue is located right in the center of Mid-Town Ft Collins in desirable South College Heights. You’ll appreciate the proximity to the neighborhood pool, schools, parks, shopping, dining, CSU and Downtown. Inside you’ll find immaculate hardwood flooring on the main level and upstairs bedrooms. The lower level includes a rec room and soundproofed 4th bedroom both with new vinyl flooring. This home provides the comfort of radiant heating and forced A/C. Access the fully fenced backyard through the oversized sliding glass door to enjoy the mature landscaping and outdoor living!

Brandon Bidwell  | MLS #1017926

8021 N Louden Crossing Court, priced to sell! Come take a look at this spacious Country Farms home on almost 1/2 acre! Fantastic location close to Windsor, Fort Collins, Loveland, & Timnath. This home has so much to offer; 5 bedrooms plus an office, 5 bathrooms, lovely, large kitchen, multiple living spaces and storage opportunities! Half of the basement is set up apartment-style with a small kitchenette. New HVAC in 2023. Mature landscaping and a fully fenced backyard add to the charm.

Katie Robinson | MLS #1017922

Discover your dream home perfectly situated at the end of a tranquil cul-de-sac, this beautiful ranch-style home presents an exceptional opportunity for home buyers. Backing onto an association green belt, 552 Mount Rainier Court, boasts a large quarter-acre lot and charming curb appeal. The open floorplan features 5″ plank wood flooring throughout most of the main level and stairs, giving the space an air of elegance. The living room, with its vaulted ceiling, plantation shutters, and cozy gas fireplace with a custom-built mantel and wood accent, serves as a visually stunning focal point. The kitchen is a chef’s dream with timeless white soft-close cabinets, quartz countertops, and stainless-steel appliances, including a gas stove, a tile backsplash, a pantry, and a large island perfect for cooking and entertaining. The dining area seamlessly connects to the kitchen and living room. The primary bedroom includes a luxurious 5-piece bath, brand-new carpet, and a large walk-in closet, while two additional bedrooms and a full bath complete the main level. Enjoy mountain views from the front bedroom and convenient main-level laundry. The finished basement offers a large family/rec room, two more bedrooms, a full bathroom, and storage space. The front yard is beautifully landscaped with updated light fixtures and concrete curbing. In the backyard, an extended Pennsylvania Blue flagstone patio and walkway, rocks and boulders from Long’s Peak, gate access to green space, 3 raised garden beds, and a cosmos flower garden create a private oasis. OWNED SOLAR PANELS add to the home’s efficiency. The neighborhood includes an outdoor pool, 3 playgrounds, trails, schools, and a rec center, and is close to downtown Berthoud with its shops and restaurants, Hillsdale Nature Area, and the championship golf course at TPC Colorado. Welcome home! Call (970) 310-6999 to schedule a tour or click here for more information.

Alexis Foster | MLS #1017922

Stunning home priced to sell! 1072 Little Grove Court, is a gorgeous West Grange home is located near parks, within walking distance to trails, Lagerman Reservoir, and schools. Outdoor opportunities galore! Home has a beautiful outdoor entertainment area, large upgraded kitchen with spacious countertops and cabinets. A tandem 3-car garage will hold your toys. Upstairs there is an open loft flex space, laundry room and large bedrooms. Beautiful office space on the main floor and a great room that radiates the natural light flowing through. Unfinished basement allows for room to grow. A must see property! Motivated Seller, quick close possible. Call (970) 430-9630 to schedule a tour or click here for more information.

Katie Robinson | MLS #1017915

Come build your dream home with award winning Apex Developments, on one of the last remaining custom home sites in the desirable WildWing Neighborhood. 6359 WIldview Lane is host to a beautiful walkout site and is just over a half an acre and backs to a tree filled open space for additional privacy. Whether you are looking to enjoy water view or mountain views this location has it all! Water tap has been secured allowing you start building your dream home! Call (970) 402-7509 to schedule a tour or click here for more information.

Jaqueline Feil | MLS #1018295

Location, Location, Location! Welcome to 1304 Westridge Drive, a thoughtfully-designed, well-crafted four-bedroom, three-bath, two-story home in Loveland. Enjoy the serenity of a private setting, walking distance from Devil’s Backbone, and a short drive to Estes Park. Mountain views from both the front of the house and the master bedroom, adding a scenic backdrop to everyday life. This home is an open canvas to personalize and make it truly yours. With spacious living areas and a versatile layout, this home is ready for your creative touch. Don’t miss the opportunity to create your dream space in a prime location! This home has been priced to sell as-is. Comparable sales support $800K+ when fully updated. Call (970) 232-4844 to schedule a tour or click here for more information.

Philip Cooper | MLS #1018436

Welcome to 5620 Janna Drive! This completely remodeled ranch home with a fully finished basement, situated on a spacious .35-acre parcel near Horseshoe Lake. The property features mature landscaping for privacy, while still offering wonderful views. The spacious lot includes perks such as RV PARKING, a detached 15×21′ SHOP, and a shed. Enjoy outdoor living with a covered patio and garden boxes. Inside, the remodel boasts a brand-new kitchen with stainless steel appliances, quartz countertops, a double oven, and all-new cabinets. The entire house has been retextured and painted, with new hard surface flooring throughout the main level. The front yard has been professionally landscaped, including a new sprinkler system and a new concrete walkway in the front and back. Additional features include a new front door, acid-washed bricks, three fully remodeled bathrooms with new tile, a new banister and railing, and all-new backyard fencing. This home is ready to welcome its new owners with modern updates and classic charm. Call (970) 310-6999 to schedule a tour or click here for more information.

Alexis Foster | MLS #1019028 

Welcome to this meticulously maintained, one-owner all-brick ranch patio home, perfectly nestled in the desirable community of The Enclave at Golden Meadows. 1367 Iva Court has large windows that fill the living and dining space with natural light, creating a warm atmosphere. Enjoy a spacious main level layout also featuring a primary suite, guest bedroom and bathroom, office, and main floor laundry-perfect for comfort and convenience. The basement provides extra living space, including a versatile rec room, bathroom and storage. Outside, is perfect for enjoying Colorado’s sunny days, with a charming deck, bonus patio and lush greenery which is maintained by the HOA. Just minutes from shopping, parks, restaurants, golf courses, and schools-everything you need is at your fingertips! This home is a true gem in a prime location – homes do not come on the market often. Don’t miss your chance to make it yours! Call (970) 215-1013 or (970) 214-9479 to schedule a tour or click here for more information.

Maria Dellota & Heather Patel | MLS #1019069

Welcome to your beautiful home in Water Valley, 238 Cattail Bay Court! The main level opens to an updated dining or living room, showcasing custom built-ins. The newly renovated kitchen features new self-closing cabinets, marble countertops, a butcher block center island, new appliances, and a custom hood. The adjacent flex space can be tailored to your needs-be it a den, office, or play area. Cozy up by the gas fireplace, complete with a new stone surround and wood mantel. The updated laundry/mudroom serves as a handy drop zone from the oversized three-car garage. On the second level, the primary suite has vaulted ceilings, a newly remodeled bathroom, and an attached walk-in closet. The unfinished basement offers endless possibilities for future expansion. Step outside to your fully fenced backyard retreat, with a pergola-covered patio and lush, mature landscaping. Recent updates include a renovated primary bath (2024), a new radon system (2024), a renovated kitchen (2023), and fresh interior and exterior paint (2022), just to name a few. Living in Water Valley means enjoying a resort-style lifestyle, with access to multiple lakes, paved trails, tennis and pickleball courts, golf courses, plus membership opportunities at the pools at Pelican Lakes Country Club and Raindance. Call (970) 297-8262 to schedule a tour or click here for more information.

Madelyn Backhaus | MLS #1019322

 

The post New Listings September 2024 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings September 2024

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521 Cornell Avenue is located right in the center of Mid-Town Ft Collins in desirable South College Heights. You’ll appreciate the proximity to the neighborhood pool, schools, parks, shopping, dining, CSU and Downtown. Inside you’ll find immaculate hardwood flooring on the main level and upstairs bedrooms. The lower level includes a rec room and soundproofed 4th bedroom both with new vinyl flooring. This home provides the comfort of radiant heating and forced A/C. Access the fully fenced backyard through the oversized sliding glass door to enjoy the mature landscaping and outdoor living!

Brandon Bidwell  | MLS #1017926

8021 N Louden Crossing Court, priced to sell! Come take a look at this spacious Country Farms home on almost 1/2 acre! Fantastic location close to Windsor, Fort Collins, Loveland, & Timnath. This home has so much to offer; 5 bedrooms plus an office, 5 bathrooms, lovely, large kitchen, multiple living spaces and storage opportunities! Half of the basement is set up apartment-style with a small kitchenette. New HVAC in 2023. Mature landscaping and a fully fenced backyard add to the charm.

Katie Robinson | MLS #1017922

Discover your dream home perfectly situated at the end of a tranquil cul-de-sac, this beautiful ranch-style home presents an exceptional opportunity for home buyers. Backing onto an association green belt, 552 Mount Rainier Court, boasts a large quarter-acre lot and charming curb appeal. The open floorplan features 5″ plank wood flooring throughout most of the main level and stairs, giving the space an air of elegance. The living room, with its vaulted ceiling, plantation shutters, and cozy gas fireplace with a custom-built mantel and wood accent, serves as a visually stunning focal point. The kitchen is a chef’s dream with timeless white soft-close cabinets, quartz countertops, and stainless-steel appliances, including a gas stove, a tile backsplash, a pantry, and a large island perfect for cooking and entertaining. The dining area seamlessly connects to the kitchen and living room. The primary bedroom includes a luxurious 5-piece bath, brand-new carpet, and a large walk-in closet, while two additional bedrooms and a full bath complete the main level. Enjoy mountain views from the front bedroom and convenient main-level laundry. The finished basement offers a large family/rec room, two more bedrooms, a full bathroom, and storage space. The front yard is beautifully landscaped with updated light fixtures and concrete curbing. In the backyard, an extended Pennsylvania Blue flagstone patio and walkway, rocks and boulders from Long’s Peak, gate access to green space, 3 raised garden beds, and a cosmos flower garden create a private oasis. OWNED SOLAR PANELS add to the home’s efficiency. The neighborhood includes an outdoor pool, 3 playgrounds, trails, schools, and a rec center, and is close to downtown Berthoud with its shops and restaurants, Hillsdale Nature Area, and the championship golf course at TPC Colorado. Welcome home! Call (970) 310-6999 to schedule a tour or click here for more information.

Alexis Foster | MLS #1017922

Stunning home priced to sell! 1072 Little Grove Court, is a gorgeous West Grange home is located near parks, within walking distance to trails, Lagerman Reservoir, and schools. Outdoor opportunities galore! Home has a beautiful outdoor entertainment area, large upgraded kitchen with spacious countertops and cabinets. A tandem 3-car garage will hold your toys. Upstairs there is an open loft flex space, laundry room and large bedrooms. Beautiful office space on the main floor and a great room that radiates the natural light flowing through. Unfinished basement allows for room to grow. A must see property! Motivated Seller, quick close possible. Call (970) 430-9630 to schedule a tour or click here for more information.

Katie Robinson | MLS #1017915

Come build your dream home with award winning Apex Developments, on one of the last remaining custom home sites in the desirable WildWing Neighborhood. 6359 WIldview Lane is host to a beautiful walkout site and is just over a half an acre and backs to a tree filled open space for additional privacy. Whether you are looking to enjoy water view or mountain views this location has it all! Water tap has been secured allowing you start building your dream home! Call (970) 402-7509 to schedule a tour or click here for more information.

Jaqueline Feil | MLS #1018295

Location, Location, Location! Welcome to 1304 Westridge Drive, a thoughtfully-designed, well-crafted four-bedroom, three-bath, two-story home in Loveland. Enjoy the serenity of a private setting, walking distance from Devil’s Backbone, and a short drive to Estes Park. Mountain views from both the front of the house and the master bedroom, adding a scenic backdrop to everyday life. This home is an open canvas to personalize and make it truly yours. With spacious living areas and a versatile layout, this home is ready for your creative touch. Don’t miss the opportunity to create your dream space in a prime location! This home has been priced to sell as-is. Comparable sales support $800K+ when fully updated. Call (970) 232-4844 to schedule a tour or click here for more information.

Philip Cooper | MLS #1018436

Welcome to 5620 Janna Drive! This completely remodeled ranch home with a fully finished basement, situated on a spacious .35-acre parcel near Horseshoe Lake. The property features mature landscaping for privacy, while still offering wonderful views. The spacious lot includes perks such as RV PARKING, a detached 15×21′ SHOP, and a shed. Enjoy outdoor living with a covered patio and garden boxes. Inside, the remodel boasts a brand-new kitchen with stainless steel appliances, quartz countertops, a double oven, and all-new cabinets. The entire house has been retextured and painted, with new hard surface flooring throughout the main level. The front yard has been professionally landscaped, including a new sprinkler system and a new concrete walkway in the front and back. Additional features include a new front door, acid-washed bricks, three fully remodeled bathrooms with new tile, a new banister and railing, and all-new backyard fencing. This home is ready to welcome its new owners with modern updates and classic charm. Call (970) 310-6999 to schedule a tour or click here for more information.

Alexis Foster | MLS #1019028 

Welcome to this meticulously maintained, one-owner all-brick ranch patio home, perfectly nestled in the desirable community of The Enclave at Golden Meadows. 1367 Iva Court has large windows that fill the living and dining space with natural light, creating a warm atmosphere. Enjoy a spacious main level layout also featuring a primary suite, guest bedroom and bathroom, office, and main floor laundry-perfect for comfort and convenience. The basement provides extra living space, including a versatile rec room, bathroom and storage. Outside, is perfect for enjoying Colorado’s sunny days, with a charming deck, bonus patio and lush greenery which is maintained by the HOA. Just minutes from shopping, parks, restaurants, golf courses, and schools-everything you need is at your fingertips! This home is a true gem in a prime location – homes do not come on the market often. Don’t miss your chance to make it yours! Call (970) 215-1013 or (970) 214-9479 to schedule a tour or click here for more information.

Maria Dellota & Heather Patel | MLS #1019069

Welcome to your beautiful home in Water Valley, 238 Cattail Bay Court! The main level opens to an updated dining or living room, showcasing custom built-ins. The newly renovated kitchen features new self-closing cabinets, marble countertops, a butcher block center island, new appliances, and a custom hood. The adjacent flex space can be tailored to your needs-be it a den, office, or play area. Cozy up by the gas fireplace, complete with a new stone surround and wood mantel. The updated laundry/mudroom serves as a handy drop zone from the oversized three-car garage. On the second level, the primary suite has vaulted ceilings, a newly remodeled bathroom, and an attached walk-in closet. The unfinished basement offers endless possibilities for future expansion. Step outside to your fully fenced backyard retreat, with a pergola-covered patio and lush, mature landscaping. Recent updates include a renovated primary bath (2024), a new radon system (2024), a renovated kitchen (2023), and fresh interior and exterior paint (2022), just to name a few. Living in Water Valley means enjoying a resort-style lifestyle, with access to multiple lakes, paved trails, tennis and pickleball courts, golf courses, plus membership opportunities at the pools at Pelican Lakes Country Club and Raindance. Call (970) 297-8262 to schedule a tour or click here for more information.

Madelyn Backhaus | MLS #1019322

 

The post New Listings September 2024 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

FRIDAY FUN FACTS – Transitioning into Fall

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As we transition from September to October, the real estate market is showing signs of stability and balance. Inventory levels are beginning to flatten out, providing buyers with more options to choose from. Sellers are becoming more flexible, willing to negotiate, make repairs, and offer concessions to close deals.

  • Active Listings: The number of active listings has remained consistent compared to the previous week, although inventory levels are notably higher than this time last year.
  • New Listings: There has been an increase in new listings both week over week and year over year, indicating growing seller confidence.
  • Pending Transactions: The number of pending transactions has remained relatively flat, and the market’s supply of inventory has held steady.
  • Odds of Selling: While the Odds of Selling have risen slightly, they remain below historical averages, reflecting the ongoing dynamics of the market.
  • Showings: Showings have seen a minor decline from the previous week but are higher compared to the same period last year. Homes are staying on the market longer, giving buyers more time to consider their options.
  • Price Reductions: The prevalence of price reductions has increased, with a larger percentage of homes adjusting their prices before entering into contracts. Additionally, the size of these price reductions has also shown an uptick.

Buyers currently have increased negotiating power, as sellers are more willing to engage in negotiations and make concessions. With a stable inventory and a market that offers more time for decision-making, now may be an opportune time for buyers to explore their options.

 

For personalized insights and guidance tailored to your specific real estate goals, feel free to reach out to our team at Windermere Real Estate.  We are here to help you make informed decisions and seize the opportunities presented by the current market conditions.

The post FRIDAY FUN FACTS – Transitioning into Fall appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

FRIDAY FUN FACTS – Transitioning into Fall

/in , , , , , , , , , , , , , , , , , /by

As we transition from September to October, the real estate market is showing signs of stability and balance. Inventory levels are beginning to flatten out, providing buyers with more options to choose from. Sellers are becoming more flexible, willing to negotiate, make repairs, and offer concessions to close deals.

  • Active Listings: The number of active listings has remained consistent compared to the previous week, although inventory levels are notably higher than this time last year.
  • New Listings: There has been an increase in new listings both week over week and year over year, indicating growing seller confidence.
  • Pending Transactions: The number of pending transactions has remained relatively flat, and the market’s supply of inventory has held steady.
  • Odds of Selling: While the Odds of Selling have risen slightly, they remain below historical averages, reflecting the ongoing dynamics of the market.
  • Showings: Showings have seen a minor decline from the previous week but are higher compared to the same period last year. Homes are staying on the market longer, giving buyers more time to consider their options.
  • Price Reductions: The prevalence of price reductions has increased, with a larger percentage of homes adjusting their prices before entering into contracts. Additionally, the size of these price reductions has also shown an uptick.

Buyers currently have increased negotiating power, as sellers are more willing to engage in negotiations and make concessions. With a stable inventory and a market that offers more time for decision-making, now may be an opportune time for buyers to explore their options.

 

For personalized insights and guidance tailored to your specific real estate goals, feel free to reach out to our team at Windermere Real Estate.  We are here to help you make informed decisions and seize the opportunities presented by the current market conditions.

The post FRIDAY FUN FACTS – Transitioning into Fall appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Friday Fun Facts – It’s All About the FED

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You may have heard that the Federal Reserve Board (FED) is meeting next week – so what does that mean? Think of the Fed lowering interest rates like a store putting items on sale. When prices drop, people are more likely to buy things. Similarly, when the Fed reduces interest rates, borrowing money becomes less expensive. This encourages people to take out loans for homes, cars, or businesses, and helps boost the economy by making it easier and more appealing to spend and invest. It’s like making the cost of borrowing money more affordable, which gets things moving!

The post Friday Fun Facts – It’s All About the FED appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Best Time to be a Buyer in 10 Years

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As we move into the fall, the real estate market is providing a rare opportunity for buyers who have been waiting on the sidelines for years. Inventory levels are higher than they’ve been in a decade, and sellers are increasingly open to negotiations, making repairs, offering concessions, and even accepting contingent offers to close deals. This presents an exceptional chance for buyers to leverage their negotiating power before potential rate drops lead to increased competition in the marketplace.

The post Best Time to be a Buyer in 10 Years appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Halfway Check

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This is a market which is changing quickly.  We are studying the numbers every day so we can be clear about where the market is heading.

Here is a check on the market halfway through October.

Compared to last October…

  • Available inventory is up 73% in Northern Colorado and up 112% in Metro Denver.  This is significant for buyers who, for years, were challenged with limited selection.
  • Number of closed transactions is down 50% in Northern Colorado and 41% in Metro Denver.  This reflects the fact that fewer buyers are active right now given higher interest rates.

Prices continue to be higher than last year.  They are up 12% in Northern Colorado and 13% in Metro Denver.  We don’t expect double-digit increases to continue, but don’t expect anything like a price crash.

The post Halfway Check appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Renting vs Buying: Which is better for you?

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Deciding whether to rent or buy can be a difficult decision, but with the right analysis, you can determine which is best for you. Knowing whether it’s the right time to rent or buy depends on your buying power, what you’re looking for in a home, your local market conditions, your plans for you and your household, and the responsibilities you’re prepared to take on at your residence.

Renting vs. Buying: Which is Better for You?

Renting gives you greater flexibility to relocate, fewer home maintenance responsibilities, and can often be more the more affordable option, depending on where you live. The extra costs associated with owning a home—interest payments, taxes, repairs—may be too much for some renters to handle. Becoming a homeowner has its respective advantages. You’ll have stable monthly payments and greater freedom to customize your living space. Advocates of buying will contend that purchasing a home is an investment in equity, which can increase in value every year you live in the home, whereas if you rent a property, you’re essentially paying for someone else’s mortgage. 

Ultimately, the right decision depends on your situation. If you don’t plan to be living in the same place for at least five years, renting might be more logical, as it allows you more flexibility when it comes time to move again. If you’re looking to settle down for the better part of a decade or longer and can afford to buy a home, becoming a homeowner may be the better option. Here are a few additional considerations to guide your renting-versus-buying decision making process.

What are the local real estate market conditions?

Investigate the local sales and rental markets. Industry groups put out reports every quarter stating the average national sales price for a home and the average monthly payment for a rental. These reports are typically based on an average of all the cities in the U.S. But what really matters is what the numbers show when you dig into them on a local level. When looking at these reports, you’ll see there are some cities that fall below that average, while others rise above it. When comparing housing costs, be sure to base your evaluation on what’s happening in your city and neighborhood, not the nationwide averages.

For a quarterly breakdown of local market conditions, explore our Market Updates page. With data analyzed by our Chief Economist Matthew Gardner, each report breaks down the latest figures in home sales, home prices, and days on market for regions throughout Windermere’s footprint. Gardner also provides his estimation of where each market sits on the buyer’s-market-to-seller’s-market spectrum.

What can you afford?

Making the jump from renter to homeowner is often a question of affordability. Your mortgage rate will depend on your financial strength, your credit score, and other factors, so make sure to talk to a loan officer before you start looking for a home. Getting pre-approved for a mortgage will identify what you’re able to afford and helps strengthen your offer when the time comes.

To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price. By using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

 

Will you need to make repairs to your new home?

Buying a fixer-upper may seem like a great way to get a deal on a house, but if the money you spend on the repairs is too great, your profit could be diminished when it comes time to sell. The same is true for remodeling and improvement projects. There are various renovation financing loans available to you that can help with the costs of home repairs, though extra consultations, inspections, and appraisals are often required in the process of securing these loans. Ultimately, if you can only afford a home that demands major improvements, and you don’t have the skills to do much of the work yourself, you may be better off renting.

Can you rent part of the house you’re buying?

If you buy a house with rental-capable space (extra bedroom, mother-in-law unit, etc.), you could use the rental income to pay off your mortgage faster and contribute more to your savings. But, of course, you need to be willing to share your home with a tenant and take on the responsibilities of being a landlord or working with a professional property manager to help you with those duties. Renting out a space in your home will also require you to purchase landlord insurance on top of your existing homeowners insurance policy.

Making Your Decision to Rent or Buy

At the end of the day, the decision is up to you. Based on the conditions laid out above, it simply may not be the right time for you to buy. Fortunately, when it comes to being a homeowner, it’s not now or never. A real estate agent will be your ultimate resource in gauging whether it’s the right time to buy and guiding you through the process toward homeownership.

The post Renting vs Buying: Which is better for you? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Renting vs Buying: Which is better for you?

/in , , , , , , , , , , , , /by

Deciding whether to rent or buy can be a difficult decision, but with the right analysis, you can determine which is best for you. Knowing whether it’s the right time to rent or buy depends on your buying power, what you’re looking for in a home, your local market conditions, your plans for you and your household, and the responsibilities you’re prepared to take on at your residence.

Renting vs. Buying: Which is Better for You?

Renting gives you greater flexibility to relocate, fewer home maintenance responsibilities, and can often be more the more affordable option, depending on where you live. The extra costs associated with owning a home—interest payments, taxes, repairs—may be too much for some renters to handle. Becoming a homeowner has its respective advantages. You’ll have stable monthly payments and greater freedom to customize your living space. Advocates of buying will contend that purchasing a home is an investment in equity, which can increase in value every year you live in the home, whereas if you rent a property, you’re essentially paying for someone else’s mortgage. 

Ultimately, the right decision depends on your situation. If you don’t plan to be living in the same place for at least five years, renting might be more logical, as it allows you more flexibility when it comes time to move again. If you’re looking to settle down for the better part of a decade or longer and can afford to buy a home, becoming a homeowner may be the better option. Here are a few additional considerations to guide your renting-versus-buying decision making process.

What are the local real estate market conditions?

Investigate the local sales and rental markets. Industry groups put out reports every quarter stating the average national sales price for a home and the average monthly payment for a rental. These reports are typically based on an average of all the cities in the U.S. But what really matters is what the numbers show when you dig into them on a local level. When looking at these reports, you’ll see there are some cities that fall below that average, while others rise above it. When comparing housing costs, be sure to base your evaluation on what’s happening in your city and neighborhood, not the nationwide averages.

For a quarterly breakdown of local market conditions, explore our Market Updates page. With data analyzed by our Chief Economist Matthew Gardner, each report breaks down the latest figures in home sales, home prices, and days on market for regions throughout Windermere’s footprint. Gardner also provides his estimation of where each market sits on the buyer’s-market-to-seller’s-market spectrum.

What can you afford?

Making the jump from renter to homeowner is often a question of affordability. Your mortgage rate will depend on your financial strength, your credit score, and other factors, so make sure to talk to a loan officer before you start looking for a home. Getting pre-approved for a mortgage will identify what you’re able to afford and helps strengthen your offer when the time comes.

To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price. By using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

 

Will you need to make repairs to your new home?

Buying a fixer-upper may seem like a great way to get a deal on a house, but if the money you spend on the repairs is too great, your profit could be diminished when it comes time to sell. The same is true for remodeling and improvement projects. There are various renovation financing loans available to you that can help with the costs of home repairs, though extra consultations, inspections, and appraisals are often required in the process of securing these loans. Ultimately, if you can only afford a home that demands major improvements, and you don’t have the skills to do much of the work yourself, you may be better off renting.

Can you rent part of the house you’re buying?

If you buy a house with rental-capable space (extra bedroom, mother-in-law unit, etc.), you could use the rental income to pay off your mortgage faster and contribute more to your savings. But, of course, you need to be willing to share your home with a tenant and take on the responsibilities of being a landlord or working with a professional property manager to help you with those duties. Renting out a space in your home will also require you to purchase landlord insurance on top of your existing homeowners insurance policy.

Making Your Decision to Rent or Buy

At the end of the day, the decision is up to you. Based on the conditions laid out above, it simply may not be the right time for you to buy. Fortunately, when it comes to being a homeowner, it’s not now or never. A real estate agent will be your ultimate resource in gauging whether it’s the right time to buy and guiding you through the process toward homeownership.

The post Renting vs Buying: Which is better for you? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Buy Before 5

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30-year mortgage rates just exceeded 4% for the first time in three years according to Freddie Mac.

We have new advice for anyone considering a home purchase in the next couple of years.

Buy before 5.  This means buy before rates go to 5%.

Even though rates have been ticking up over the last several weeks, we believe that in a few years we will look back on this time and realize what a tremendous opportunity it was to have a mortgage under 5%.

So, don’t be discouraged by recent uptick in rates.  Instead, feel great that you were able to buy before rates hit 5%.

The post Buy Before 5 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.