As we all know, we live in an exceptional state and enjoy many opportunities for both work and entertainment. Whether or not you bike, ski, or just love art and coffee, Colorado will satisfy your needs. The availability of all four seasons offers a never-ending list of activities to participate in year-round. In Denver, the job market is hot with diverse industries like telecommunications, high-tech, healthcare, bioscience, wind power and renewables, oil and gas, financial services and advanced manufacturing. Not to mention a vibrant start-up community in Denver and Boulder! Wondering what the best cities in Colorado are?
Recently, Money Magazine recognized Highlands Ranch, Centennial, and Broomfield as three of the best places to live in the country. These communities are safe, have great schools, and house employers, which means commuting is at a minimum for many. These cities were rated on criteria evaluating rates of predicted job growth, crime rates, and median household incomes. Read more about it.
The downside of such a robust economy is the high demand for housing has caused the price of housing to rise over the last couple of years. According to the Denver Metro Area Association of Realtors (DMAR), between July 2015 and July 2016, the median home price in the Denver Metro Area increased 11.4% to $389,900. See full report here
While this is great news for homeowners who can take advantage of the increased equity to either restructure their debt or remodel, it makes finding the right starter home more difficult. Affordability is a real issue for homebuyers and higher prices can mean additional hurdles to overcome. There are many great loan programs that still allow for minimal down payments and low-cost mortgage insurance. Low rates incentivize buyers to purchase sooner because their buying power is increased with the lower payments.
Go forth and enjoy living in Colorado!