Best Place to Buy Property in Colorado
In the past decade, the real estate market in Colorado has grown tremendously, and it will continue being a good market to buy and sell, even as the increase settles and the market levels out. Buying a home in Colorado is an excellent investment, but some markets are better for buying than others.
Let’s talk about three of the best places to buy property in Colorado.
1. Denver. The state capital of Colorado is the best place to invest in a home. This booming city is a great place to turn your home purchase into an investment, either for a future sale, for a long-term rental, or even for short-term rentals. Denver’s real estate market is currently favoring buyers, and the average price for home listings is just under $500,000.
2. New Castle. This area has grown over the last few years, and popular activities have been bringing in tourists all year-round. If you’re an active person, buying a home in New Castle puts you close to the White River National Forest and its 225 million acres of land for skiing, camping, hunting, and more. If you’re looking to invest, this is the right time to offer rental properties for residents or frequent travelers. The median home value around here is around $375,000.
3. Boulder. While house prices aren’t low here, Boulder is home to many young professionals and college students because of their excellent schools and work opportunities, making it perfect for both short-term and long-term rental properties. The median home price in Boulder, Colorado is around $800,000. Rent prices in Boulder hover around $2,500 a month.
Buying a home anywhere in Colorado is a solid investment. However, some locations are better than others if you’re looking to offer short-term or long-term rental properties. Denver, New Castle, and Boulder, Colorado all offer great benefits for anyone interested in investing in income property.