Jason Roshek

Still Renting? It may be cheaper to buy that Colorado Springs Home! | Colorado Relocation Group

Still Renting? It may be cheaper to buy that Colorado Springs Home! | Colorado Relocation Group

Traditionally, we think of buying a Colorado Springs home as an expensive dream and we don’t often consider this as a viable housing option if our finances are tight.  Instead, we stick to renting a home and dream of the day we can buy our own piece of paradise.  In today’s market, however, that time may be now.  In fact, buying a home is less expensive than renting one in many areas of the country.  According to Trulia’s quarterly rent vs. buy index, the cost of buying was lower in 74 percent of the country’s most populous cities.  With the continuing decline in home prices, low interest rates and tax benefits, many people may actually save money by buying a home.  However, is buying a home the right choice for you?
If you’re unsure, whether it is more cost effective for you to rent or buy, you should ask yourself several questions.  The answers to these questions will help you decide which option is best for you:

1. How long do you plan to stay in the home-  It is still true that it will take some time to reap the benefits of buying a Colorado Springs home.  If you plan to stay in the home for just a few years, closing costs such as mortgage points, surveys and commissions, may wipe out any savings you would gain from buying a home.  However, if you plan to stay in the home for a longer period, chances are good that purchasing is a better option.
2. Do you have cash for closing-  While home prices and interest rates have dropped, so have banks’ willingness to lend money.  In today’s economy, many banks want at least 20% down before they will consider underwriting a loan.  In addition, closing costs can add up to a few thousand dollars in additional up-front expenses.  Yes, there are some first-time homeowner programs and some types of loans for less money down such as VHA Loans and VA Loans, but there will be costs associated with them (mortgage insurance, service fees, and higher interest rates).
3. Additional costs of homeownership- While your budget may allow for the mortgage on your Colorado home, don’t forget all the other costs of owning a home.  Unlike a rental, you are responsible for paying for repairs to a broken air conditioner, replacing appliances that don’t work, and maintaining your property.  In addition, you will need homeowner’s insurance, utilities, and of course, you will need to pay property taxes.  As you look at purchasing your home, be sure to create a realistic budget for all of the costs associated with owning a home—and when in doubt, budget high!
4. Can you claim the tax advantages-  In order to claim the interest and property taxes paid on your home, you will need to itemize your deductions on your tax return.  If you are considering purchasing a home, you should take a look at your taxes and see if this is a better deal than taking standard deductions.

While the housing market continues to change, the process of buying a home has remained the same.  In order to find the best home for you and your family, you still need to do your research.  When you are ready to find your dream Colorado Springs or Woodland Park home, contact us and we will help you through the home buying process.

Summer Is Here In Woodland Park….And So Are Warm Weather Dangers | Colorado Relocation Group

The grass is growing, the bees are buzzing around the wildflowers, the lakes are full of boats and the kids have been out of school for a while……the hallmarks of summer in Woodland Park. With all of the great weather and additional outdoor activity come risks. A recent article by Leah Culler on MSN defined some of the largest summer dangers and gave tips on ways to avoid them. Here are some of the most common:

1. The Lawn Mower: With the metal blade spinning over 160 mph just inches from our feet, lawn mowers cause more than 80,000 injuries each year. The majority of these injuries come from flying debris, such as rocks and twigs, which the spinning blades send into the air. To minimize the risk of injury, wear long pants, closed-toed shoes, and goggles. Also, be sure to survey the area before you mow and remove any loose rocks, twigs, toys, or other items on the ground.
2. Ladders: Summer is a great time to trim trees and complete those routine repairs and maintenance on your Pikes Peak area home. Unfortunately, falls from ladders send 164,000 people to the hospital each year. Before you climb up the rungs to fix that loose shingle, be sure your ladder is steady (preferable with a second person holding it from the ground). Never climb onto that unsteady top rung, and always keep your weight centered over the middle of the ladder.
3. Digging holes: From putting up a new fence to landscaping, holes are often a necessary part of the process. However, below the dirt and grass lie some very big dangers—lines, wires, and pipes. Before digging, be sure to call 811 and have the service come mark your lines. This will prevent you from accidentally cutting a line and losing cable, water, phone service, and may keep you from getting the shock of your life.
4. Heat: Did you know that pale skin and nausea are signs of heat exhaustion? That hot pavement and sidewalks are a leading cause of burns on feet? That people have actually baked cookies in hot cars in Arizona and Texas? That children are burned every year on hot playground equipment? Prevention is easy: drink plenty of fluids and pay attention to warning signs for heat exhaustion and heat stroke. Always wear shoes, and check the temperature of metal or plastic surfaces before letting children touch them. In addition, of course, never leave pets or children in cars.
5. Power tools: Chainsaws, hedge trimmers, and gas powered edgers are responsible for tens of thousands of ER visits each year. Before you tackle that tree in the backyard, the bush blocking the view of the Rocky Mountains, or the grass overgrowing from the edge of the driveway, take a few moments to be safe. Long pants, closed-in shoes and eye protection are a must. Make sure you are in a stable position (not hanging over a ladder or with the trimmer over your head), and NEVER use power tools after a few cocktails.
6. Insects: The warm weather brings out many of life’s little pests. Fleas, which can carry Lyme Disease, mosquitoes (which are carriers for West Nile and various other viruses), and even spiders. It is always a good idea to wear long sleeves and pants if hiking or visiting an area with a high volume of insects. Bug repellant with DEET is another popular, and effective, option to keep most flying pests away. In regards to spiders, the Black Widow is the only common venomous spider in the Pikes Peak Area, so be aware before sticking your hand into those dark corners!

via coloradorelocationgroup.com