Are you considering purchasing Denver real estate? The new year may just be your perfect year to make a next step in your investment future. Going into 2019, the market is shifting in a way more favorable to buyers.
For the last few years, Denver has experienced a large boom in people moving to the area or looking to buy a new home. Rebounding from the market crash in 2009, since 2014, the area has been consistently a seller’s market. This made it the perfect opportunity for those looking to rent as homes sold quickly due to demand. As a seller, this demand was profitable. Thanks to bidding wars and such an interest from prospective homeowners, homes and investment properties were selling at record rates. Just within the span of four years, the average home price doubled.
For 2019, Denver’s housing market is showing signs of cooling off—making it a little easier for those looking to buy or invest. While prices are staying somewhat consistent, adding more inventory to Denver and surrounding neighborhoods gives buyers more flexibility in their search. It is also projected that mortgage interest rates will increase, which has caused people to postpone their search and possibly pursue more rental opportunities. As people wait to see how the latest fed rate decision affects rates on credit cards, mortgages, saving accounts
and more, an increase in people choosing to rent is a go-to opportunity for those looking to invest. It helps those who would love to buy but unable—giving them the ability to have a quality home in the Denver area.
Benefits of Investment Properties
As the market makes a switch, it’s a premier time to invest in Denver rental properties. Owning a home to rent out is a great way to bring in additional income without the work required in a normal job. And for those new to investing, there is much information for Denver property owners
available to make the process easier. One of those resources are property managers. Property management companies take over any or all responsibilities, which fills gaps an owner is not sure about or needs assistance with. Some of the top ways a property manager will help Denver investors includes:
- Serving as the face of your rental and doing routine communications
- Researching ways to make your investment more profitable
- Handling transactions and taking necessary precautions for those who do not pay on time
- On-call maintenance for repairs
- Assistance remodeling or upgrading a property in between tenants
- Help with bookkeeping and taxes
Are you looking to invest in a Denver residential property? Now is the time to make a consideration and DenCo Property Management and Sales is here to ease any of the process for you. As your local property manager, we will aid in as many ways you need to make your rental a success. The best way to get started is by calling us at 303-722-9688. From helping you find a property to getting started, our team of experts will help you take advantage of benefits to come in the new year.