What Denver’s Real Estate Market Means for You

Man and woman talking to their real estate attorneyThere are more renters than homeowners in Denver, as stated in a report analyzing census data for the largest cities in the U.S. According to the Colorado Micro Market Report, there’s no problem with the economy, but Colorado is below where it needs to be in terms of houses being built and the inventory available on the market. What this also says is that you can have a good thing going if you’re willing to invest.

Renting Economy

In a big city like Denver, people should have options when it comes to housing, right? However, there’s the question of whether people prefer to buy houses or to rent, or if they can afford to buy a house in the first place. Whatever the reason is, there’s emphasis on rented properties. For you, as an investor, this means looking for multifamily properties you can purchase and put up for rent.

A Healthy Economy

The number of homeowners in Denver increased, but so did the number of renters — and at a faster rate at that. This means you should contact your real estate attorney in Denver, CO to come up with investment opportunities that make the most of the current market (without breaking any law) in Denver. It doesn’t seem like the tide will change anytime soon, so you’re bound to get some good profit from offering housing options for renters.

A Fallback Option

Even homeowners can make the most of the preference for renting, especially if they meant to downsize anyway. Instead of selling the house, they can offer it up for rent while they find a smaller house to buy. You may need to discuss with your attorney how the profits and taxes will be determined. You’ll also need to advertise your house, but that won’t be hard considering the number of interested renters.

With the current real estate climate in Denver, you have to think about your priorities. Set your eyes on rental properties if you want to get good profit.