SECOND HOMES COULD BE A GREAT BUY IN DENVER

With sales prices dropping, and the buyer’s market in Denver extending indefinitely, now could be a great time to consider purchasing a second home in the Denver area. Whether you’re interested in purchasing a getaway for yourself, or a home to rent to vacationers, there’s no time like now to investigate the possibility of securing an additional property.

More and more Americans are being lured by the perks of a mountain retreat. After working long hours during the week and juggling the stresses of a major city, a second home can be a great opportunity to get away (and build equity) rather than spending money on multiple, expense-laden vacations. Last year, studies showed that the purchase of second homes rose 4.7 percent to a record 1.07 million in 2006, up from 1.02 million in 2005, in contrast to the decline of primary home sales.

As Denver’s baby boomer population rises, a huge segment of the second home buyer market, and tourism continues to grow, vacation and second homes in the area could be poised to become one of the area’s hottest commodities. In addition to the serenity the area offers, Denver has lots of affordable options. A charming second or vacation home with a mountain view could be well within your reach.

If you decide to purchase a vacation home to rent to tourists, make sure you outfit the home with lots of amenities. Vacation renters are drawn to homes with pools, plasma screens, high speed internet and washer/dryer combos. Additionally, extras that make vacationers feel like kings and queens for the week such as sheets with a high thread count, or a well-stocked wine refrigerator are even better. Additionally, be sure to pencil in the costs of maintenance and upkeep, real estate taxes, utility bills and upgrades if needed.

If you’ve been wondering if you can afford to purchase a second or vacation home, we can help you evaluate your finances and explore your options. Call us today and make your dreams of a second or vacation home come true!