Luczak Group - The Blog

Information for happenings in the Real Estate Market in the Pikes Peak Region... and some things we just find interesting!

Tips for Home Buyers

Buying or Renting in Colorado Springs- What's your best bet?

COLORADO SPRINGS, COLO. -- If you're looking to buy a house or rent in Colorado Springs, doing your homework first on the housing market is what's recommended.

According to Realtor Sandra Lehmann, deciding whether to become a homeowner or a renter all depends on how long you're looking to stay in the area.

"For folks not choosing to plant down in any given location, that's the beauty of any rental option," added Greg Bachelor, Co-owner of Real Property Management.

Both Greg and Sandra say choosing the right home for you also depends on the type of lifestyle you want to live.

"In this day in age, a lot of folks are choosing to rent. They don't know if they want to be in the same job, same market, and be in the same place."

So if you decide to go down the homeowner's path or renter's path, keep in mind the housing market is constantly changing.

"Average home prices, according to the Pikes Peak Association of Realtors, in January the average home price was approaching $235,000 here," Greg added.

Knowing what you can afford, Sandra reiterates, is what is key in buying or renting a property.

"You should really talk to a knowledgeable lender to see if you're okay with the payment and not just the purchase price."

By Kristyn Leon