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Homes being built specifically for renters, not buyers

Posted at 5:28 PM, Feb 13, 2020

Buying a home has been part of the American dream for as long as we can remember, but as home prices rise and competition grows, that dream can be difficult to make a reality.

However, things might be changing as new homes are being built specifically for renters, like Carole Goemans.

Goemans made the decision to move back to Colorado from San Antonio to be close to family.

“We lived there for 14 years and then my husband passed 2 and a half years ago and we have to make decisions,” said Goemans. “Colorado has changed a lot. I’ve lived here for many, many years, since I was 5 years old and I taught for 38 years. At that time, homes were a lot cheaper.”

Enter Avilla Homes, a community full of homes built for renters, not for home buyers.

"These are renters by choice," said Reed Ruck with Avilla.

Ruck says folks like Goemans have all of the benefits of owning a house without the mortgage.

"Helping individuals find obtainable housing and not as expensive as a mortgage, but still provides a single family feel and living space," said Ruck.

The struggle to afford a home is growing in America, especially in a fast growing state like Colorado where the average rent is $1,300 a month, according to SmartAsset.

When it comes to the monthly rent for Avilla Homes, Ruck says you can expect to pay slightly less or comparable to a mortgage in the same area.

In Colorado, the average home costs $376,000, making a mortgage around $1,500 a month, SmartAsset says.

For someone like Goemans, who isn't in the market to buy a home, communities like Avilla provide the chance to live the American dream.

“It’s luxury without a lot of bucks and that’s hard to find,” said Goemans. “As long as I can stay vertical and keep smiling, this is it.”

Ruck says these communities are a growing trend across the country and there's another one in Phoenix.