How Much Does Holding A Property Cost in Colorado Springs?

Holding costs can add up quickly and take a big chunk out of your pocket. If you plan to sell, these costs can be factored into the price of your home and reduce the amount you get from the sale.

Now is the time to start calling around for open houses in Colorado Springs . It’s hard to believe what people are willing to pay for properties in this city! We’d love to call your property “home” in no time flat! Are you looking for an investment property in Colorado Springs ? The market is moving quickly in this city, so make sure you can close on it before someone else does! You’ll need to figure out how much you could make off of it when selling it later down the road.

If you are searching for a reputable real estate investor, someone who is professional and easy to work with, look no further! We buy houses in Colorado Springs  and the surrounding areas. It doesn’t matter if you live in this house or not. No matter what your situation is, we will help you get out of it!

We buy houses for cash so that they can be re-sold quickly and easily, hassle-free. If you are looking at this site it means that you probably don’t have enough time to fix up or sell your house on your own. When searching for “we buy houses” online, there are thousands of listings all over the world. Our name might show up when doing an internet search for “sell my house fast” to HBR Colorado because we have put a lot of effort into becoming a trustworthy brand in the local Colorado Springs marketplace.

Costs of Holding A Property In Colorado Springs

Property Taxes

When you are constantly paying a mortgage, you are indirectly paying all of your property taxes from the interest from the loan. When you no longer have a mortgage, you have to foot that bill yourself. This can be substantial.

In addition, if your home is worth more than when you bought it, you will not get a break on future capital gains tax should you decide to sell. If housing prices increase over time and your home is worth more than what it originally cost you upon purchase, there is no way for this extra value to offset any gains in wealth elsewhere like in your 401k or IRA accounts.


When you start paying these bills you might be tempted to simply stop paying them until the house sells. While this works in a perfect world, it sets up a situation in which your bank will eventually notice and start calling you about not paying your utilities. This could potentially lead to eviction if the problem isn’t resolved quickly.

For this reason, you need to make sure that there is enough money left in the account when your home goes on the market for someone else to pay these bills while they are looking at the property. Most of these companies keep track of who owes how much and can shut off service right away.

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Maintenance & Repairs

When performing this action it’s important to keep in mind that it doesn’t include home insurance, property taxes, or capital improvements.

The one percent rule is not an exact figure but a good approximation to follow. Other considerations like the age and cost of the house as well as the location will also impact your maintenance costs on a monthly and yearly basis. For example, you should plan for more costs on older homes located near the ocean because they’re more likely to be affected by harsh weather conditions such as hurricanes and floods. On the other hand, newer homes may need less maintenance over time depending on various factors such as location and quality of materials used during construction (e.g. new vs old windows).

Homeowners Insurance

Homeowner’s insurance costs can add up quickly, especially if you live in a flood-risk area.

If the house is located in Colorado Springs, expect to pay an average of $1557 for a homeowners insurance policy with a $500 deductible. The national average cost for a similar plan is currently around $938. Your premium will be different depending on your insurer and other factors such as construction materials and the age of the house. Here are some additional factors that drive up the cost:

* Taking care of dead trees on your property can save money because it reduces the chances of wind damage from fallen limbs. * Investing in home security systems or smoke detectors could lower premiums by reducing the risk of fires or break-ins. *

Mortgage Payments

When paying your monthly mortgage is more expensive than the alternative, there is a problem. Sometimes it may be best to avoid foreclosure by renting out your home if you are having problems paying for it each month.

That being said, you do not necessarily want to rent your home back from your lender either as those arrangements can come with their own financial complications. You will need to consider all of the options available before making a decision about what to do with your property. If you need money fast and cannot afford to sell your house, giving up ownership and avoiding foreclosure altogether might be the only option that makes sense. There could also be other factors that play into this such as inheritance or divorce that can lead people into abandoning properties they once owned and paid mortgages on every month.

Opportunity Costs

Hiring a maintenance man can help, but they can still be costly!

You don’t have to live in your home forever. At some point, you may start thinking about selling it and buying another one with more land or a better school district for example. But if you’ve recently gone through a divorce, remarried, suffered the loss of a loved one, or just want to simplify your life, now might be the time to sell your house so you can enjoy life again!

As always, I’m happy to help! Please feel free to email me with any questions you may have regarding this article at I’ll see you next month with yet another topic that is relevant during these uncertain times! Stay tuned….

Are you holding onto a property you aren’t using? We can help! Send us a message or give us a call today! (719) 286-0053


Entrepreneur, online marketer, real estate investor, and owner of the Sell Your House To Tactical Investing Inc. franchise

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