Renting or Buying When Relocating To a New City in Colorado
Are you considering a move to a new part of Colorado? How do you know if you should buy a home there or rent one? There’s no “easy” or right answer, but there are a lot of factors to consider before you decide.
Colorado Housing Market
Colorado is a hot market right now. There aren’t enough homes on the market to meet the demand and prices are soaring. Sellers are receiving multiple bids in short order, and many are for over the asking price. This is especially true in the Denver area and Front Range. You’ll want to talk to a Realtor about the city or town you’re relocating to, in order to understand if the market is friendly to you.
Are you moving to Cherry Creek or Boulder? How long do you think you’ll live there? If you can’t commit to staying in your new city for 3-5 years, buying might not be the right option for you. Moving for a new job? What if it doesn’t work out? Would you still want to live there? If you’ve got doubts, renting might be the right choice.
Know Your Neighborhoods
Are you moving to The Highlands or moving to Broomfield? The neighborhood you move to can be just as important as finding the right home to fit your needs and wants. When choosing a neighborhood in Denver, Louisville, Greeley or Littleton, you need to consider crime rates, schools, traffic patterns, walkability, safety levels and more. If you aren’t familiar with the city you’re moving to, it might make sense to rent a home first so you can test-drive the neighborhood before you buy.
Moving to Fort Collins or another city in Colorado can be an emotional and stressful experience. You’re saying goodbye to friends, coordinating a move, possibly selling your home and a million other details. Buying a home is a huge undertaking. If you don’t think you have the bandwidth, don’t rush into purchasing a home. Renting could be a better option.
You’ll also want to evaluate where you are at this point in your life. Do you want to pay off some debt? Save for a down payment? Get your kids into a good school? Your decision to rent or buy when relocation will depend on your personal goals and reasons for relocation.
The Recommended Mover in Colorado
Whether you decide to buy or rent a home, you’ll want to choose a mover you can trust with your possessions. Cowboy Moving & Storage has more than 2,200 five-star reviews on ReviewBuzz. They’ve been helping Coloradans move since 1968. Family owned and operated, Cowboy Moving & Storage never uses contractors or day laborers. Every team member is drug and alcohol tested and receives a thorough background check. You can trust your move to Cowboy Moving & Storage. Call 303-789-2200.