As home prices continue to increase in Denver, a single family home with the features a buyer is looking for is becoming increasing out of reach financially. Due to the cost of land and infrastructure costs for builders, building afforable homes in the Denver Metro area has become difficult. It is much more cost effective to build attached homes. This is especially true in the most desireable locations where land costs are the highest.
Builders indicate that condo building had been down the last few years due to the high risk of litagation but under new legislation this risk has been reduced and new condo home developments are on the increase.
The Denver Post recently published an article "Denver buyers developing an attachment to townhomes as fewer new homes list under $400K" denverpost-townhomes-increase-popularity. The increase in attached homes being built is discussed
"Nearly three in 10 of the new homes hitting the market are attached, up from a low of 15.8 percent of the mix in 2012. Attached homes now hold the highest share of new-home activity since 2008, Covert said. What makes the comeback of attached housing noteworthy is that townhomes single-handedly are driving the surge, with a minimal assist from condos."
Whether you would like to find a resale townhome or condo or find a new build, we can assist you. Visit our website Downsizing-in-Denver or contact me today.
Dee Maas, Broker Associate