Are you looking to invest in luxury homes in Denver? But you just have not taken the big step due to their high prices? Well, if that is the case, now might be your chance to enter the luxury real estate Colorado market.
Denver is easily one of the hottest real estate markets in the country at the moment. And it has been for the past couple of years. Denver is one of the best cities in the US, in general. This is true for investing in high-end real estate, especially the greater Denver area.
It’s rapidly growing in both size and population. The Denver metro area is expanding quickly to accommodate everyone. You will find many luxury homes for sale in Colorado. The Denver real estate market is certainly among the best places to invest in luxury real estate.
Low inventory and high prices in Denver dominated headlines last year. But, we can expect to see a softening market in 2019.
Denver is the biggest city in Colorado. The city is also being called one of the best markets to watch in 2019.
Are you looking to add new assets to your investment portfolio? You should turn your attention to luxury homes in Denver, Colorado. Below are some great reasons to invest in Denver luxury homes.
1. Appreciation Rates are Incredible in Denver, Colorado
Greater Denver area continues to enjoy a very strong and impressive real estate appreciation rate. This is higher than the national rate as property values in the area rarely fall.
Denver luxury real estate increased in value by about 103.25% over the past ten years. This is an annual increase of 7.35%.
It places the city in the top ten nationally in terms of real estate growth! One of the main reasons for this trend is there has been little inventory. As a result, luxury homes for sale in Denver, Colorado, are almost always increasing in value.
2. Strong Tourism
Around 30 million tourists visit Denver every year. It is well known for being located near the Rockies. Some other attractions in the city include the Denver Botanic Gardens and Denver Zoo.
Also, Denver hosts about 80 conventions every year. This is why the tourism industry in the city is an excellent motivator for Denver luxury real estate investors. These investors can participate in the short-term rental business.
You can see how profitable Airbnb rentals can be in the Denver luxury real estate market in 2019.
If you decide to rent out your mansion in Colorado on Airbnb, make sure you get a business license. Also, research any other relevant laws and regulations that apply to the area.
3. Denver is Landlord-Friendly
Compared to the West Coast, the state of Colorado is quite landlord-friendly. And that is not all as there is no limit on late fees. And you could quickly begin evictions in case your tenants have not paid the rent.
Moreover, there are no state laws in Colorado that prevent homeowners from rekeying the locks after evicting tenants. All of these factors will help protect your luxury real estate investment in Denver.
4. Presence of Large Businesses
Another reason to invest in luxury homes in Denver, Colorado, is that more companies are establishing themselves in the city. These include startups to tech giants and everything in between.
A couple of examples include Google and Amazon. By having these firms establish themselves in Denver, people can benefit from thousands of lucrative jobs in the amazing Denver market. This can increase the demand for rental homes in Denver.
5. It is a Smart Decision
You may have invested in other kinds of residential real estate in Denver. In that case, you probably know how smart and profitable real estate investment is. These investments could be vacation rentals and single-family homes, etc.
In Denver, real estate investment is an excellent way to build your wealth.
Are you looking to make some serious cash? Investing in the Denver luxury real estate market is the best way to go. Although it often comes with higher costs, right now you could easily find luxury homes in Colorado for less. And the best part is that you can offset the risk of higher costs with high returns.
6. The Rental Market in Greater Denver Area is Growing
Greater Denver area is seeing a rapid increase in its rental market. It is worth mentioning that the property prices are higher in Denver. This makes the younger population more comfortable and secure renting than owning.
You can take advantage of appreciation and tax deductions. Also, the population in the area is increasing and for several reasons.
Every year, the US News and World Report ranks the suitability of the top 125 biggest metro areas in the country. And, for the 3rd year in a row, the city of Denver is in the top three! Also, the city has a much lower cost of living than the national average.
This represents a great chance for luxury real estate investors in Denver. This is because there is a constant stream of people who only want to rent. It explains why Denver, Colorado, is one of the best cities to purchase a rental home in a college town.
7. Skiing and Hiking
Colorado is well known for its top-rated ski resorts. These include Aspen, Beaver Creek, Vail, Keystone, and Breckenridge. In winter, people travel from all parts of the world to experience and enjoy these resorts and the powdery mountains.
This is why vacation properties in Colorado are very popular. Also, Colorado is known as a hiker’s paradise. Note that the state’s best treasures are the iconic Rocky Mountains which practically engulf the whole of it. So, your Denver luxury homes can pay for themselves as you can expect visitors throughout the year.
Best High-end Investment Areas
Think the tourist traps of Vail, Aspen, and Telluride are your few options? Think again.
One of the best things about purchasing homes for sales in Denver, Colorado, is the fact that there are many facilities. These include transportation, shopping, and “civilization.” This is unlike many other affluent cities.
Luxury Colorado real estate is often in the eye of the beholder.
This is why it is all about high-end customized homes in secure gated communities. Or luxury suburbs, such as Greenwood Village or Cherry Hills Village.
For many others, high-end condos downtown and in the suburbs tend to fill the bill. Also, some Denver buyers think only about the nearby breathtaking mountain suburbs for luxury homes.
Keep in mind that many Denver suburbs offer the great ambiance of a Colorado ski town. They also offer plenty of amazing options for luxury real estate, Colorado. These suburbs are Colorado or Castle Pines Village and Evergreen.
Belcaro certainly has a lot that works in its favor: new customized builds, mansions, as well as luxurious ranch-style houses. This spectacular area features some of the priciest real estate properties for sale in Denver. Home price is $1,029,850 (average).
Recently, many new properties have popped up in this area. This has created a great combo of residences which attract both young professionals and families. The home sale price is about $521,686 (average).
The historic Country Club neighborhood of Denver is probably the most prestigious and grand residential area in the city. This extremely sought-after neighborhood in the city is
often broken out by Country Club South and Country Club North. It features beautiful luxury homes designed by many of Denver’s leading architects.
Bonnie Brae is another charming and appealing little neighborhood. It has mature trees and winding streets. It also has a small park at its center.
There is a small public library in the area. The neighborhood is home to an old-fashioned district of shops and restaurants. These include Bonnie Brae Ice Cream, which is a favorite among locals.
Colorado consistently ranks as one of the healthiest and happiest states in the country. This state offers investors a terrific selection of high-end properties. These properties make it very compelling as a luxury real estate destination. You will find ultra-modern urban condos and luxury villas to graceful, secluded ranches in the area.
The housing market in Denver is one of the strongest in the Colorado luxury real estate market. This is a growing real estate market that you cannot ignore. There are several reasons to invest now in Denver luxury real estate. So, you should start the search for investment property in Denver right now!