Looking for Great Real Estate in Colorado
Colorado is a beautiful state that offers something for everyone. Gorgeous mountains are just part of the landscape, and Colorado offers up a full four seasons; changing leaves in the fall, snow in the winter, mild weather during the spring and hot summers. It’s a wonderful state to purchase land and real estate, but there are some things potential home buyers or real estate investors should know before purchasing Colorado real estate.
Finding Cheaper Real Estate
One of the best ways to find affordable real estate in Colorado is to check just outside the major cities and tourist areas. For instance, rather than looking for a home located in Denver, try finding a home in the nearby Littleton or Idaho Springs. Real estate is cheaper in these areas, but the drive to Denver is very short so it’s easy to enjoy all the draws of the city. With location being one of the most important aspects of finding real estate, looking just outside your target area can help you save thousands of dollars on a home or real estate property.
Foreclosures
Looking for low-priced foreclosures in Colorado is a great idea, especially considering that this state is often at the top of the list for highest number of foreclosures in a state. Investing in a home or property in the middle of a foreclosure can save you thousands of dollars. There are a few things you’ll want to keep in mind, though. Foreclosed Colorado homes may be damaged homes, and it could take money to make them habitable or “flip” them into a property that is going to sell for a profit. Make sure you understand the full condition of a property before committing. Looking for foreclosed homes in Colorado is a great way to find affordable real estate.
The Colorado Water Real Estate Issue
One thing you should know about before purchasing real estate in Colorado is that many pieces of Colorado property are simply no good because the owners cannot get running water to the property. Because Colorado is naturally a dry state, and because nearby large cities have purchased up most of the Colorado water supply, there are many pieces of property where adequate water supply is simply out of the question. In fact, those who sell property in Colorado are required under the Colorado House Bill 07-1156 to supply buyers with information regarding how the water is supplied to the property and what condition the water supply is in. It is recommended that you contact the company or individual supplying the water to find out the condition of the water supply before buying or committing to Colorado real estate properties.
Consider Hiring an Agent
While you can certainly find great real estate in Colorado on your own, hiring an agent may be a good move. Agents familiar with the area can help you secure a great piece of real estate that is promising, whether you plan to live there or sell it for profit. Be sure to research the agent and agency to ensure that they’re trustworthy, and you can really save a lot of money on Colorado real estate.
Overall, Colorado is a great place to invest in, but it’s important to do your research first and be sure you know what you’re getting into.
