Moving To Colorado Blog

The choice between renting a home and buying a home is not just a simple financial calculation. There are many other factors and questions.

The stereotypes surrounding buying versus renting a home are rapidly changing along with changes in the Colorado real estate market.

During the housing boom of the late '90s and early 2000s, renting a home was widely considered an inferior alternative to buying a home with rapidly increasing values. After 30 years of stability in home ownership rates, the United States tallied 12 million new homeowners between 1994 and 2004, according to Census Bureau data. In 1994, nearly 63 percent of Colorado residents owned homes. By 2004, more than 71 percent were homeowners. At that point, home ownership peaked and many people reconsidered renting.

In the Colorado real estate market, renting and buying each bring significant advantages and disadvantages. While buying a home may be attractive from a financial standpoint, there are other considerations.

Finances

Buying a home is a major investment that creates equity and brings significant tax breaks. A home also could turn a tidy profit. National real estate expert Barbara Corcoran recently predicted the Denver area will be the first housing market to recover from the housing slump. Moreover, Castle Rock home values have seen a lower rate of decrease than surrounding cities, according to Zillow. This translates to good deals in a relatively healthy market poised for an increase in values.

On the other hand, a Wall Street Journal financial expert argues for the financial advantages of renting a home. He suggests the stock market will increase faster than home values, so if rental costs are lower than mortgage payments, investing the extra money in stocks will result in better returns.

There are other financial downsides to buying a home. An exciting relocation to Colorado could be delayed by difficulty in selling a previous home. Also, a change in income or family budget could make it difficult to pay the mortgage. Renters can more easily trade up or down to meet their budget. They also won't face the threat of foreclosure.

Flexibility

Renting a home offers flexibility. Many are moving to Colorado for the outdoor lifestyle and natural beauty even if relocating means settling for a less-than-ideal job. These new residents may later find a lucrative job in the Denver Tech Center but are stuck with a long commute if they own a home. Those who are renting a home could easily move to a closer neighborhood, such as the Meadows in Castle Rock. They might also move to Castle Rock from a rental in Aurora or another eastern suburb for greater proximity to hiking trails and Rocky Mountains recreation.

Renters can also turn in their keys, move the furniture into storage and spend a month hiking the Colorado Trail or six months traveling through Europe. The responsibilities and costs of owning a home could make a spontaneous adventure prohibitive.

At the same time, homeowners have the flexibility to paint the walls, hammer in picture hooks or plant a vegetable garden without fear of losing a security deposit.

Upkeep

Some refer to renting a home as paying someone else's mortgage, but the monthly bill also includes a form of maintenance insurance. Rental contracts generally include provisions for the landlord to pay for many types of repairs. A homeowner is on the hook for all repairs and upkeep.

Stability

Many homeowners report pride and emotional satisfaction in buying a home. They may also feel like a more permanent part of a community if they own a home. 

Finally, to help make a smart decision, Bankrate.com has a simple questionnaire that helps recommend either buying or renting a home.

Written by Steve Graham

Whatever the reason for your move or relocation, you can make a confident - and fun - move to Colorado by taking the time to research your best options beforehand.

Planning a move to Colorado should be an exciting adventure. You're headed to a state filled with unrivaled mountain views, a culture that strongly values nature and keeping the land open, and with enough outdoor sports to keep the most action-hungry satisfied.

For many people, the decision to move to Colorado starts with the longing for a mountain atmosphere and then grows into a desire to experience the life to be found in friendly neighborhoods with low crime rates. Still others are drawn by the economy; Moody's Economy.com predicted that Colorado will be one of the first states to pull out of the recession because of the concentration of high-tech industry in the state.

Location, Location, Location

From the lush green timberline town of Telluride to the elite slopes of Aspen, there are many areas in Colorado to consider. Each area offers its own advantages, represents a slightly different culture, and affords a variety of employment and educational opportunities.

By far, the most popular area to move in Colorado is the Denver metro area, which has the highest employment rate, highest average earnings, and some of the most reasonable housing prices in the entire state. In addition, there are several small towns outside Denver where education standards are the highest in the state and crime rates are the lowest. Among these towns are Evergreen, Conifer, Winter Park and Larkspur.

If you want country living that's close to city amenities, though, look at Castle Rock.

Castle Rock is right between Denver and Colorado Springs, doubling your opportunities for employment and plenty of entertainment. Despite its proximity to the cities, though, Castle Rock boasts a friendly small-town atmosphere. This is where you will find abundant parks, lots of open space for outdoor adventure and views of the Rockies.

Recently, Castle Rock was recognized as "one of the best places in the country to live" by both Family Circle magazine and RelocateAmerica.com. From a strong belief in open government to one of the nation's best climates (averaging more than 300 days of sunshine per year, with low humidity), you are practically guaranteed to find exactly what you're looking for in Colorado life in Castle Rock.

Your Perfect Colorado Home

To find your Colorado dream home, you should pay special attention to a tenet that will help you find the Colorado way of life at its most fulfilling:

The best homes have been designed to preserve the natural open spaces and views of Colorado. These homes have been designed and built by professionals who both understand the needs of a quality home in Colorado as well as the values that the culture holds dear.

Of all the communities in Colorado, The Meadows in Castle Rock stands out vividly. Wide open views of untouched nature, foothill ridgelines to explore, spectacular views of the Rocky Mountains and quick access to Denver are paired with the charm of events that bring the community together. The Denver Tech Center is just 14 miles away from The Meadows, leaving you with a short commute to city life and great jobs while experiencing small-town values at home.

Whatever region in Colorado you choose to move to, you should take the time to consider the following questions:

1. What are my housing needs? Your home should fit the way you live. Make a list of priorities like size, amenities and ideal lot types.

2.  Are the homes I'm looking at in a good climate? A short 30-minute drive from one town on the outskirts of Denver to another can mean a huge difference in altitude, snowfall and temperature extremes.

3. Have I got clear needs to communicate to my real estate agent? On average, home buyers see 15 houses before choosing the right one. Clearly communicating your needs and wishes will help you save time.

4. When looking at homes, have I considered maintenance issues? Areas north of Denver and south of Grand Junction often experience extreme weather, requiring special home maintenance. Around the metro area, maintenance concerns can focus more on quality-of-life issues because the climate is more temperate.

5. Are there neighborhood restrictions or covenants? This is an important question to ask, because it can be a deal-breaker if you find covenants that you're not willing or able to live up to.

SOURCES

HUD

The Meadows

Town of Castle Rock

MSNBC

Written by Lolaness

Low prices, low interest rates and attractive tax credits will drive a healthy Colorado real estate market for the rest of the year, according to analysts' reports.

The Denver metro area has avoided the deep housing market slump that has plagued other cities across the country. The growing metropolitan area remains an attractive area for a home purchase. Experts say the current market is a prime time to buy, and that housing values will increase significantly in coming years.

In particular, the northern and southern Denver suburbs are hot markets. Both Fort Collins and Colorado Springs are growing, and some expect to see one large metropolitan corridor of population and development stretching across much of the state within decades.

Such growth will put Castle Rock at the heart of the action, along with other upscale neighborhoods in Castle Pines and Larkspur. Castle Rock is already a gem in an attractive metro area. The city is close to both the Denver Tech Center and downtown Denver. It is growing while maintaining an individual small-town feel, great open space and excellent schools.

As some of Denver's older central suburbs grow more dense, they are losing an individual feel and becoming faceless bedroom communities. While they enjoy the mild climate and beautiful views of the Front Range mountains, some are encroaching on their open space opportunities.

Meanwhile, Castle Rock enjoys 140 years of history, but only recent and controlled population growth. The town was first settled as a railroad stop and small mining center in the 1870s.

Today, the Castle Rock area is booming, with an estimated 93 percent population growth since 2000, according to City-Data.com. In that time, the median home value has increased from $184,000 to $262,000. The market in this mid-priced range is moving quickly, according to area real estate agents, particularly in towns in the south metro area.

Castle Rock is drawing new residents with open space, trails and parks. The new centerpiece of Castle Rock open space is the Hidden Mesa open space, where four miles of trails opened in 2006. Home to pronghorn, deer and elk, the park preserves wildlife corridors. It also preserves the boundaries of Castle Rock's southern edge. It provides a buffer from nearby Franktown and promises a beautiful expansive natural area for decades to come. For home-buyers, it also ensures increasing home values in Castle Rock as it limits potential southern sprawl.

The Meadows community is another outdoors-focused gem in Castle Rock. The community covers 4,000 acres, and more than 1,000 are preserved as open space. Plenty of animals can wander through the neighborhood as all the open space maintains critical wildlife corridors.

Between the parks, trails and paths separate homes and provide access to community centers and schools. A medical center and shopping area are also coming to The Meadows, which will also increase home values in coming years.

Schools are another key attraction in Castle Rock. The city is in the growing, highly rated Douglas County School District, where students consistently score above the state average in every subject at every grade level on state assessment tests. Five new schools opened in the 2008-09 school year, and the district maintains strong funding.

Written by: Steve Graham

Unlike many other American states, in Colorado real estate has continued to boom despite the nationwide real estate bust.

Colorado real estate has continued to boom despite the real estate bust and the subsequent economic downturn nationwide. Job availability is still strong and many investors are using real estate in Colorado to bolster their investments. According to AutomatedHomeFinder.com, now is a great time to move to Colorado if you are relocating or looking for a change of scenery.

Castle Rock Real Estate

Bedroom communities outside of Denver are thriving. If you'd like to live within driving distance of Denver but want to avoid some of the chaos, Castle Rock real estate is definitively a great choice. Trulia.com boasts diverse Colorado real estate listings in this area, from small bungalows in the low 100s to beautiful scenic villas in the high 500s.

Towns like Castle Rock are an ideal location for raising families, or for just finding a peaceful oasis in today's 24/7 world. Shopping is only a short car ride away at the Outlets at Castle Rock shopping center, and jaw-dropping views of the Rocky Mountains are always available to soothe the soul. Best of all, if you opt for a community such as The Meadows, you can enjoy the best of luxury home living in a setting that has been expertly crafted to complement Colorado's own natural beauty.

Denver Real Estate

Of course, many people enjoy the hustle and bustle of the big city. Like much of the real estate in Colorado, Denver offers both diversity and affordability, with distinct advantages for the average buyer.

Home options in Denver real estate range from modest single-family residences to apartment penthouses to quaint cottages. There are also numerous opportunities to buy real estate around the outskirts of Denver, providing a scenic backdrop of the Rocky Mountains.

Colorado Homes

Colorado real estate is rich in diversity, offering a wide selection of Colorado homes from which to choose. One story or two story, Victorian or French colonial, large backyards and easy-to-maintain town homes. You'll find a little of everything when you research real estate in Colorado.

Numerous Colorado Realtors ensure you have plenty of options, and it helps to see several houses in different price ranges and sizes to get a feel for the selection. Above all, searching for real estate in Colorado is a pleasure, and gives you an opportunity to explore the rich history of Colorado. Whether you intend to buy an existing home or build a new one, Colorado real estate continues to flourish.

Written by Steve Thompson