Luxury Real Estate for an Aspiring Home Owner in Denver, Colorado
Colorado is a state with something for everyone from mountains to the large cities like Denver. This is a city that has homes the average homeowner can afford the most expensive million dollar properties. Denver Metro area is growing and with it the real estate market, which is perfect for people looking to purchase a home or condo.
Denver Real Estate Market
The real estate market in Denver in 2016 the market sold more homes than the previous year. These homes included single family homes and condos, but there were more homes sold also in the million dollar price range. The market was up 21 percent in April and over 39 percent in May. Due to the higher percentages in the real estate market in a growing city, new homeowners will see their property appreciate in value faster than prior years as long as this trend continues. Increased value is when purchasing a home while selling another home makes sense for people looking to upgrade or empty nesters looking for a smaller home.
Purchasing a Home
The one certain thing about buying a home is that it is an investment. Denver has a booming economy and job market which makes now a good time to purchase a home. The interest rates on mortgage loans are still low and expected to rise within the next few years. This is also a time when more houses are on the market with people purchasing new homes while putting their existing home up for sale.
Construction of new homes is also exploding building luxury homes and condos in Denver. This is happening in all over the city and its suburbs making it possible for a person looking to buy to get into a new home or condo at a reasonable price that has the latest features.
The Time to Buy
The economy is getting stronger and with it, the interest rates will increase. This is something a prospective buyer should consider if they are in the market to buy a home. Due to the growing economy and city houses on the market is that may not have been at any time in the past several years. This is a fluid market since the economy is good the interest rates are still low allowing people to sell and move to a new home. It is also a good time for a first-time buyer to get into a home since this is the right time before interest rates increase.