(COLORADO SPRINGS) — Amidst the gorgeous views of Pikes Peak and endless sunshine, an increasing number of people are choosing to make this area their home, including many who have dedicated their lives to serving our country.
“Just in my particular situation with the Space Force, there’s a huge presence here in Colorado Springs, and it’s one of the hubs where if you’re going to spend even just a little time in in the military base in particular, you’ll probably end up in Colorado Springs, if not the beginning of your career, at some point during it,” said United States Space Force Lieutenant, Noah Schuetz.
In neighborhoods throughout the Pikes Peak region, a consistent addition can be found of for sale signs in front of homes of all sizes. The Schuetz family experienced first-hand the many challenges of homeownership, particularly in a high-demand city like Colorado Springs.
“It’s completely dependent on the market and, I believe, with where the housing market was in terms of the supply of homes that people were selling at the time, the demand of especially military folks moving into the area and looking for homes in city limits,” Schuetz said. “Then also just the rates for mortgage loans and things like that, just the calculus of those things compounding for us, it was hard to find a house. That was just the way it was.”
In a recent study by the Veterans United Home Loans, data showed the impact Generation Z Veterans and active service members are having on the housing market. Colorado Springs ranked sixth in the top 10 markets for Generation Z homebuying.
“It’s been so encouraging to see this benefit in making a difference for a new generation, the youngest generation, of Veterans and service members, ” Vice President of Mortgage Insight for Veterans United Home Loans, Chris Birk said. “Colorado Springs had a huge year last year and it was really one of the bright spots in all of VA lending with rising mortgage rates and home prices.”
A significant trend that Birk shared was a growing desire among younger service members to pursue homeownership, with the goal of establishing generational wealth by putting down their roots in a chosen city.
“When we talk to Veterans and service members across the country, it’s that appetite for homeownership,” Birk said. “It hasn’t gone away and so many of them are still intending to make this dream a reality, they’re sort of shifting their timelines in a lot of cases. They’re pushing out when they think they’re going to make that home purchase.”
With Colorado Springs home to multiple military installations, it remains a top choice for those seeking permanent residence after completing their service.
“Colorado Springs has long been a home for so many veterans and service members, active-duty service members who were there, veterans returning to live in a place that they spent time and really started to build roots,” said Birk.
In June, the VA loan program will mark its 80th anniversary, offering essential support to veterans and service members as they navigate the homebuying journey. This lifetime benefit is given to those who dedicate their lives to serving our country, details of benefits can be found here.
“Veteran United Home Loans was a really great thing for us, but really based on just the decisions you have, how long you think you will be at your assigned base, or even at your assigned, really, city, where your base is,” said Birk.
As the Schuetz family enters their next chapter both with a newborn and a new house, they are just a testament to one of many who have found a permanent place in southern Colorado to call home.
“I would just say have a really good plan on what makes the most sense for you off of your financial information and what you really want out of a house,” Schuetz said. “It’s not worth compromising, paying too much for a house for something that’s not really what you want, or vice versa.”
