Denver – A Smoking Hot Millennial Real Estate Market
The Denver Real Esate Market is fertile ground for Millennial home buyers and their real estate investing is expected to continue rising well beyond 2016.
Millennials also referred to as Gen Y ranging in age from around 22-34 are America’s future. Inaccurate reports state this particular generation does not desire to own a place of their own. Contrary to the naysayers, recent reports and surveys show a good portion of Millennials truly desire to be homeowners. Research found that Millennial’s real estate investing is escalating and will continue to rise; as 42% are more interested in home ownership than generations before them.
The Mile High city of Denver located in Colorado is a smoking hot real estate market for this group for many reasons. Denver is the state Capital, and home to seven professional sports teams, including the Broncos, one of the top NFL teams in the nation. The Greater Denver area is a convenient gateway to the Rocky Mountains providing unlimited outdoor adventure opportunities including the most exceptional ski resorts. Colorado as a whole is environmentally friendly and one of the healthiest GREEN states in the country.
The Denver metro area has long been a preferred location for many generations; yet now it is fast becoming a desirable place for single and family oriented Millennials. Denver caters to those who wish to live within an easy commute to work, has a huge selection of top restaurants, gourmet food trucks that crawl through downtown with fresh, organic food and hosts yearly events like the Taste of Colorado where you can sample unusual food from all over the state while enjoying live music and entertainment. Denver boasts having the most breweries in one city, high-end boutiques, gyms, spas, salons and trendy clubs. What’s not to love in this cultural event packed city alongside the Rocky Mountains with four beautiful seasons and welcomes many diverse and alternative lifestyles?
Denver features a number of awesome neighborhoods; as well as wide-ranging housing choices with creeks, lakeside greenspaces, and baseball and soccer fields. It has the largest city park system in the country; making it especially attractive for those who prefer the urban lifestyle but also needs a daily dose of nature.
If you are a bicycle enthusiast, you can keep up your exercise efforts with the Denver B Cycle share program as well as the endless pedestrian/bicycle paths, like Cherry Creek’s 40-mile bike route and historic public urban Washington Park.
You can hop from shop to shop on the free 16th street mall shuttle or ride the convenient light rail and bus system that stretches into many of the nearby suburban malls. You can also take advantage of the affordable Uber or Lyft car service; allowing you to sit back and relax, making commuting without driving for pleasure or work a breeze.
Denver residents enjoy multifaceted cultural and educational attractions for singles and families alike. On any given day, you can delight in the Denver Zoo, expand your education at the Museum of Nature and Science, relish in amazing exhibits at the Museum of Art, and absorb the magnificent colorful displays at the Botanical Gardens to name a few.
For music lovers there is the world famous Red Rocks Park and Amphitheater and many clubs featuring outstanding local talent, the Pepsi Center for larger indoor shows and seasonal concerts at Fiddlers Green. Six Flags, Pirates Cove and Water World are easily accessible for even more excitement and fun.
Denver is a city that most definitely appeals to and satisfies the needs and wants of young adults. It is a mile high millennial winning solution with its pleasing weather, community friendly amenities, and varied indoor and outdoor activities.
You can find your perfect home in some of the most trending neighborhoods in the country, with great attractions, fabulous shops and restaurants, and award-winning schools; making Denver your top priority for a place to own a home.
Best reasons why many especially the Millennials can afford to live in Denver!
Although Denver homes are currently in great demand and the area is often referred to as a seller’s market, there are still smoking hot real estate deals for Millennials who wish to follow the generations before them by pursuing the American dream of owning a home. Fortunately, Denver offers young homebuyer’s awesome opportunities with affordable loan programs and money in your pocket cash back incentives.
If you wish to invest in Real Estate to get out from under parent’s roof or escape the other alternative of living in uncomfortable overcrowded conditions just to pay an overpriced rent; now is the time to make your long desired move. You can still get your foot in the door of a property within your budget.
Greater Denver consists of many desired neighborhoods or trendy districts like the upscale downtown apartment area, LoDo, Wash Park, RiNo, and Baker make the mile high city a great choice to live as a professional single, start a family, build a better career, and make homeownership a reality!
For example, a 2 + 2 condo or a nice studio apartment in some of the Denver neighborhoods can start around $100,000. You can also choose from other property styles with a great walkability score. If you do not mind living within a 25 to 30 minute radius of the city you can benefit by getting considerably more square footage with a yard for outdoor entertainment, space for your pets to roam and personal garden for the same price you pay in the city central area.
The city and greater Denver offers higher wages and specialty programs that can help make it possible for younger house hunters to purchase a home that fits their needs. Help and home buying solutions for the Millennial borrowers are provided through mortgage assistance programs, lower mortgage interest rates and changes in mortgage rules. These accompanied by a homebuyers purchase rebate offer great assistance for Gen Y buyers.
Depending upon your personal details there are programs like the Metro Mortgage Assistance Program providing down payment assistance with a FICO score as low as 640, the Metro Credit Certificate Program where you can get you additional tax credit, and another buyers assistance program entitled NSP2 Home Buyers Loan; all were developed to help you realize your dream.
Home Ownership benefits the Millennial-Gen Y’ers as well as the entire community!
Renting is nothing more than wasting your hard-earned money to pay someone else’s mortgage. With a little help from some of the local programs combined with a cash back incentive you can realize your dream of home ownership and contribute to your community as well.
Research supports the view that homeownership brings substantial social benefits. Homeownership boosts the educational performance of children, induces higher participation in civic and volunteering activity, improves health care outcomes and lowers crime rates.
One Millennial buyer, Aaron Franks, purchased a home through a Denver company and he received $1,510 through the homebuyer’s cash-back rebate program.
“I recently closed on my first home. My realty company was a great help with buying my first place. They made me feel safe about my purchase and allowed me to get into something I could afford,” he said.
Another young couple Tom and Yvette received $3,000 cash back.
“As new residents of Colorado, Tom and I were worried we weren’t going to find the right home in this booming real estate market. We have been looking on our own for a few months and could not believe how quickly home values were rising. We knew in order to find our home, we needed to find an aggressive real estate agent who had our best interest at heart and was clear on our budget as well as our wish list. And we got $3000. back at closing to boot.“
You do not have to be of the X, Y or Z generations in order to benefit from some of the loan or cash back programs.
You can begin making your dream a reality by searching for your perfect Millennial Home in Denver’s Real Estate market and get cash back when you purchase!