Renters, Who Do You Think Pays For Repairs?

Financial commitments are often the biggest factors that come between aspiring homeowners and the homes of their dreams. Many would-be potential buyers let the assumption that they can't afford homes of their own deter them from researching the topic thoroughly, and as a result, they fail to recognize that owning a home is actually much more affordable than they previously thought. As your trusted real estate agent in Colorado Springs, I'm here to help make you aware of why renting may not always be the most cost-effective solution.

Rent Costs Are Expected To Increase


People typically choose to rent when they think they can't afford to own, but the fact remains that rent prices consistently rank significantly higher than mortgage costs for comparable properties. By renting out their properties, landlords and/or property management companies aim to cover their own mortgage payments while managing to bring in some extra income at the same time.

Thanks to inflation, rent prices have consistently risen over the last few years - and are expected to increase significantly in 2016. If you have been on the fence about buying a house in Colorado Springs, I strongly encourage you to talk with a REALTOR® sooner than later - you don't want to risk getting locked into higher rent payments!

Rent Prices Cover The Cost Of Repairs


In addition to being "cheaper," the fact that renters are responsible for necessary repairs is often touted as a major advantage to renting. However, what most people fail to realize is that while renters may not be required to supply additional out-of-pocket money to pay for repairs as the need arises, the funds required to cover these repairs still comes out of their monthly rent checks. Rather than only paying for needed repairs as they present, renters instead have to spend extra money every month so they can build up the funds to cover repairs when the need arises.

Are you tired of being required to pay extra every month? If you would like more information about becoming a homeowner in Colorado Springs, please don't hesitate to reach out to me and my team. We would love the opportunity to help you find your dream Colorado Springs home!
Mike MacGuire
Colorado Springs Real Estate Agent


The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919


719-536-4324 or 719-660-6793
Mike@BuyWithMike.com
Location: Colorado Springs, CO 80919, USA

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