It may not be good for his business, but Joshua Hunt, the co-founder and CEO of the local real estate brokerage Trelora, says that for a significant number of people in Denver, including many of those who’ve just moved to the Mile High City, renting makes more sense than buying.
“If you think there’s a chance you’re moving inside of two to five years, you need to be very cautious when buying a home in order to recover the costs of getting in and getting out of it,” says Hunt, a longtime veteran of metro-area real estate whose brokerage charges a flat fee of $2,500 for each purchase or sale, as opposed to a commission based on percentages.
These days, the cost of housing in general remains sky-high in Denver; we’ve documented the current scenario in recent posts looking at the city’s ten most-expensive neighborhoods for rent and exploring how the red-hot housing market has spawned “coming soon” signs. But as we’ve also reported, 13,000 new apartment units are expected to come online in Denver by the end of 2017, and Hunt thinks this increase in inventory will have a positive effect on rent affordability.
