If you’re considering moving to Evergreen Colorado, you may wonder what is the best route to take – should you test the waters by renting first, or jump straight into homeownership?
Evergreen, with its stunning landscapes and vibrant community, offers a unique mountain lifestyle that may be entirely different from what you’re used to. You’ll likely have a thousand questions like: What if I don’t fit in? Is there too much snow? What if my commute to work is too much?
Let’s explore some pros and cons of both renting and buying in Evergreen, equipping you with valuable insights from an experienced resident to help you make an informed decision that suits your needs and preferences!
Pros and Cons of Renting in Evergreen
Pros:
- Flexibility
- Landlords manage maintenance and repairs
Cons:
- Limited customization
- More expensive overall and high monthly rent
- You’re paying someone else’s mortgage and not building any equity yourself
The major benefit of renting is the flexibility it provides. It allows you to “test drive” an area and get a feel for the community before committing to a property. You also don’t have to worry about property maintenance or repairs, as those responsibilities fall on the landlord, but you also can’t customize your living space or make major improvements.
The biggest con is that renting is often significantly more expensive in the long run. Depending on what you’re looking for, the average monthly rent in Evergreen is typically between $3,000/month to $5,000+/month. You’re paying someone else’s mortgage and not building any equity yourself.
If you’re looking for property types in Evergreen such as houses for rent or apartments for rent, it’s essential to act fast. The rental market in this charming area can be competitive, with limited options available.
Pros and Cons of Buying in Evergreen
Pros:
- Building equity over time
- Freedom of customization
- Gives a sense of stability and security
Cons:
- High upfront costs: down payment, closing costs, property taxes, etc.
- Responsible for all maintenance repairs
- No profit guarantee in a future sale
Buying a property in Evergreen is a significant investment that can provide long-term benefits. One of the biggest advantages of buying is the ability to build equity in the property. You also have the freedom to customize the property to your liking and truly make it your own–upgrading, refreshing, or remodeling the home as you see fit.
Buying a property can provide a sense of stability and security. Some may consider high upfront costs including a down payment, closing costs, and property taxes as a downside. You are also responsible for all property maintenance repairs which might be costly. Last, if you decide to sell the property in the future, there is no guarantee you will make a profit.
Current Real Estate Market in Evergreen
Evergreen homes have been appreciating at high rates in recent years. It’s likely the price — and potentially interest rates — will go up while you’re renting a home or apartment.
Evergreen is a small real estate market, and most of the area is built out. Generally speaking, for one person to come in, one person has to leave the town. The market is competitive, and properties sell quickly, especially desirable neighborhoods like Hiwan Golf Course, Hiwan Hills, The Ridge at Hiwan, or the gated North Evergreen communities like The Island.
The average price of homes in Evergreen, Colorado, is relatively high compared to other areas in the state. The picturesque mountain town offers a peaceful escape from the busyness of city life, making it a desirable location for homeowners.
It’s important to find an Evergreen real estate agent who knows the area and can help you find the right home in the right area of Evergreen and advocate for you throughout the buying process.
The Invaluable Evergreen Lifestyle
Understanding and researching the quality of life in this picturesque town is an important step to taking the leap and buying a home. By doing enough research, you can calm your mind about your future move and get excited about living in a new town without overcomplicating things.
Evergreen has stolen our hearts! We took a leap of faith moving here, and boy, were we pleasantly surprised. It’s safe to say it’s the best decision we could have made. The people are friendly and active and the sense of community is unbeatable. The art and music scene is delightful, the Jefferson County Public Schools are highly ranked, outdoor activities are nonstop, and we’re just a 30-minute drive to Denver when we’re looking for some city action.
Browse through this blog that’s dedicated to sharing my personal experience of living in Evergreen, Colorado, for any other information you’re looking for.
The Takeaway
If you’re looking to become part of this amazing mountain community immersed in nature, buying is your best option. Plus, Evergreen is a fantastic location for you and your family to plant roots. The real estate market in Evergreen is thriving, making it a wise investment with high appreciation rates.
By purchasing your own home, you’ll not only be saving money in the long run compared to renting, but you’ll also be building equity.
As always, reach out if you have questions about buying in Evergreen or need help with the moving process. We specialize in mountain properties, and are here to help make your transition to the charming mountain community of Evergreen as smooth as possible!
