To Rent or To Buy?

The New Year oftentimes brings big changes.  If you’re planning on a new baby to make its arrival, a job change, a relocation, or maybe just hoping to put the past in the past, then you might be wondering whether renting or buying a home is your best option.  Let’s break down the advantages that both owning or renting a home could bring.


  • Build equity: as a renter, you’re building someone else’s equity, but as a homeowner you are helping yourself out
  • Tax benefits: your mortgage interest is tax deductible
  • Put down roots: owning a home often gives a certain sense of pride that can help create stronger ties within your community
  • Stable mortgage payments: with a fixed-rate mortgage, you can enjoy predictable monthly payments that make financial planning easier
  • Personalize home decor and landscaping: when you tire of the baby blue walls in the bathroom, you don’t have to ask anyone’s permission to change the color
  • Freedom: pets are your call when you own your own home


  • Landlord handles all repairs: but it might be on their own timeline
  • Access to pool, fitness center, etc: having the ability to use these amenities is better than not, but you’re likely to share with everyone else in your community
  • No HOA fees (if applicable, usually included in rent cost)
  • Lower cost renters insurance (when compared to homeowners insurance) and no interest on monthly rent
  • Flexibility: if you have noncommittal tendencies, renting might be your best option.  It is far easier to break your lease than it is to sell a home.

As of December 2017, the average rent of a 2 bedroom apartment in Denver will cost you $1,567 a month. The median home value in Denver, CO is $392,500.  The national median home value is $185,800.  Approximately 46.4% of Denver homes are owned, while 46.87% are rented and 6.73% are vacant.