A Few Ways to Get to Know New Neighbors

What’s the best way to get to know your neighbor? We’ve got a list of a few tips for you to try.

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Getting to know new neighbors isn’t always easy, and a lot of the advice out there doesn’t exactly make it any more simple. Thankfully, there are a few tips we at the Anderson Group like to recommend for new homeowners to try. We know that everyone likes to socialize differently, so we’ve split our list of tips into two categories: practical and non-traditional.

Without further adieu, here’s a quick countdown of our favorite practical tips:

1. Ask for a simple favor. Approaching your new neighbor to ask if you could borrow some hedge clippers, for example, is a great excuse to spark up a conversation.

2. Say hi when you’re out walking your dog. If you happen to catch your neighbor out in their front yard while you’re walking your dog, or (if you don’t have a pet) when you’re just out for a jog, don’t be shy. If you wear a smile, the world will smile back.

3. Get digital. These days, there are a lot of online social platforms available for people to get to know the people in your neighborhood. Finding and joining one where you live is a great way to connect.

4. Throw a block party. Whether you stick to the traditional definition of this kind of event and invite everyone on the block or you just ask a few people on your street to come over and mingle, getting to know everyone in a group setting can take some of the pressure off as you all make your introductions.  

If you wear a smile, the world will smile back.

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Now, let’s move on to the remaining seven tips on our list. Each of these, while not traditional (and, in some cases, not advisable) are sure to catch your neighbor’s attention:

5. Throw a rager. If a block party is a little tame for your tastes, why not go a little more extreme? Make sure you’re loud enough for the cops to join the fun.

6. Set off fireworks. What better way to catch the attention of your neighbors than with a literal fireworks display?

7. Start a fire in your back yard. Stacking up logs and pine needles and then setting the whole thing ablaze will surely get your new neighbors to take notice of you.

8. Mow your lawn late at night or early in the morning. Your early-bird neighbors will appreciate the wake-up call, and your night-owl neighbors will be happy to hear that you’re someone they can depend on to keep the neighborhood looking sharp.

9. Let your dog “do its business” on your neighbor’s lawn. Like taking your dog for a walk, letting your dog out to “do its thing” in your neighbor’s yard is a surefire way to start a conversation.

10. Park in their parking spot. There’s no better conversation-starter than one that comes as a necessity. If your neighbor parks in the same place every day, why not mix things up and claim their spot for your own? When they ask you to move it, you’ll have the perfect opening to introduce yourself.

11. Hook up your hose to their hydrant when you water your lawn. After all, if neighbors can borrow a cup of sugar, why not basic utilities, too?

As you probably guessed, these last seven tips were just a bit of tongue-in-cheek humor. While these “non-traditional” tips will definitely make an impression, they probably won’t create the kind of impression you want to leave. We know we don’t have to tell you twice, but please stick to the first four tips on today’s list—that is, unless your idea of a party is an angry mob on your lawn.

If you have any other questions or would like to learn more about our (real) advice on how to get to know your neighbors, feel free to give us a call or send us an email. We look forward to hearing from you soon.

How to Fix Radon and Mold Problems in Your Home

Radon and mold are two big problems that homebuyers and sellers have to deal with. Here’s how we can help.

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I just got off the phone with someone and a large portion of our conversation was about radon and mold. Unfortunately, they are pretty common in Colorado, so I just wanted to give you a quick insight about what happens when either of these problems come up in a home you own or a home that you’re trying to buy.

We once worked with a seller who had a sealed-off basement crawlspace. They never went down there. But once we had a full-priced offer on the home and had the inspection done, they found that the crawl space was full of water and we had no idea how long it had been there.  

Our high elevation causes problems with radon.

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They opened it up and we found the sump pump wasn't working. We had to pump all the water out, find the leak, and test for mold and radon. We ended up finding some mold and the radon levels were fairly high as well. We had to put a vapor barrier over the dirt and install a radon mitigation system to make the house sellable and inhabitable.

The reason why problems like this aren’t at all that rare here in Colorado is because of our high elevation. Radon can cause lung cancer, so you’ll have to install something to fix it if there are elevated levels in your home.

As for mold, some of it is very harmful to breathe in, while some is not. Make sure you do your research if you ever have mold in your home. We had four bids for mold cleanup that ranged from $1,500 to $10,000. Not only do you have to be aware of mold, you have to be aware of hiring the right company too.

If you have any questions for me about radon, mold testing, or anything else related to buying or selling a home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

6 Things That Turn Buyers Off

If you want to make sure buyers don’t turn up their nose at your home, make sure to steer clear of these six buyer turnoffs.

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When buyers walk into properties, there are a number of things that might make them decide against submitting an offer. Today, we’ll discuss six of the most common and most serious buyer turnoffs.

1. Stains. Especially if you have pets or children, avoiding stains can be nearly impossible. However, as you prepare to put your home on the market, it’s crucial that you remove all traces of such blemishes before buyers set foot through your door.

2. Unpleasant odors. Again, children and pets can make it hard to keep a home smelling fresh, but sellers must always thoroughly deodorize their properties before listing them. A good deep cleaning and some lightly scented candles should do the trick.

3. Harsh or unattractive lighting. Listings must be shown in their literal best light to succeed, so if your lighting fixtures are dim, open your blinds to compensate. 

Some tasteful accents can make a house feel more like home to potential buyers, but tacky design choices are sure to have the opposite effect.

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4. Outdated bathrooms. Kitchens and bathrooms are some of the most important rooms in any home, so if your bathroom looks like it came straight from the 1960s, it’s time to make some simple aesthetic changes to fix that.

5. Clutter. Clutter doesn’t just make rooms look smaller, it also makes them look dirtier, as well. Decluttering is essential when it’s time to sell.

6. Over-the-top decor. The phrase “too much of a good thing” definitely applies here. Some tasteful accents can make a house feel more like home to potential buyers, but tacky design choices are sure to have the opposite effect. So keep things neutral, modern, and subtle.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

6 Things for Millennial Homebuyers to Consider

Millennials: there are six steps you need to think about before you start the process to purchase a home. Learn more here.

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As a millennial homebuyer, here are the six steps you need to consider before you begin the home buying process:

1. Commitment. Commit to the fact that you’ll no longer be a renter—you will not throw away your money by giving it to a landlord so they can profit while you get nothing in return. This mindset will better prepare you for the homeowner mentality.

2. Finances. Consult with a professional to help you better understand your finances. What does it mean to buy a house? How much will you need to put down? What will that look like, tax-wise? What will your monthly payment be like? And how does that all help you grow your home’s equity?

3. Credit score. Similarly to the above point, figure out your credit situation. Make sure you understand what credit really means, how important it is in terms of your loan payment, and how it will affect your down payment.

Commit to the fact that you’ll no longer be a renter—you will not throw away your money by giving it to a landlord so they can profit while you get nothing in return.

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4. Lender. Should you just go with your bank, your friend who’s been in the lending business for a year, or someone your Realtor recommends? Do your research to find a skilled lender you can trust to help you.

5. Real estate agent. Finding the right agent to help you in the process of purchasing a home is vital. Consider the value of a real estate agent by assessing how much you personally know about the process.

6. Interview potential agents. It may take interviewing multiple agents before you settle on the one, but it’s worth it if you find someone who understands you, listens to you, and really cares about your wants and needs. A great agent should take the time to teach you about the market and negotiate on your behalf once you go under contract on a home.

If you think you’re ready to begin the process of becoming a homeowner or are even thinking about making this transition, reach out to me. I want to be one of the agents you interview, and I can show you what we’ll do to cover you during the process and to make your life better because of real estate. I hope to hear from you soon!

What Do Fishing and Your Pricing Strategy Have in Common?

Believe it or not, fishing is a great analogy for the way in which you price your home. Here’s what I mean.

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Have you ever been out fishing and thought about how the principles of it very much apply to the way you price your home?

My guess is probably not, but I’m here to tell you that the art of fishing is a lot like the art of correctly pricing your home. Allow me to explain.

If you’ve ever made the mistake of pricing your home too high, you probably know what it’s like to receive little interest from buyers and be left with no other choice than to make price reductions. Conversely, if you’ve listed your home slightly below its market value, you’ve probably received lots of attention and maybe even sparked a multiple-offer situation.

Your success as a seller has a lot to do with your pricing strategy, and given this hot seller’s market we’re in, pricing your home right is all the more important. We at The Anderson Group see fishing as an appropriate analogy for how we help our sellers set their home’s price: When you put good bait in the water, you get multiple fish swimming toward it and biting down on the bait. As you reel in your catch, you know you’ve used irresistible bait because you’ve captured the fish hook, line, and sinker.

We advise our sellers to price their home meaningfully and enticingly right from the beginning, so that when buyers see it, they won’t hesitate to offer full price or even above your asking price. And you could have a multiple-offer situation on your hands.

When you put good bait in the water, you get multiple fish swimming toward it and biting down on the bait.

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We’ve found that the key to proper pricing is to set your asking price slightly under market value. That way, buyers see it as good bait and immediately bite down, instead of nibbling at it before swimming away because your price is too high.

If you have any questions or would like to learn how our pricing strategy works in greater detail, please reach out to me and my team. We look forward to talking with you soon!

4 Neighborhoods That Combine Great Living & Great Food

Looking to move to an area with a great restaurant and bar scene? These areas should be on your short list.

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If you’re looking to move someplace in Denver that’s nice and close to some foodie hotspots, here are the four areas I recommend:

1. Washington Park. This is always a classic choice. A number of great restaurants have been in this area for a long time, and it’s within reasonable walking distance to Downtown Denver.

2. LoHi (aka Lower Highlands). Located in downtown Denver right next to Sloan Lake, this area has so many new restaurants pop up, I can’t even keep track of all of them. But that’s the beauty of it—living here means you can walk to Downtown Denver for work and walk to all these great restaurants without ever seeing all of them.

If you know of any awesome restaurants I should be aware of, don’t hesitate to reach out to me.

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3. RiNo (aka River North Art District). This is a sprawling district on the east side of I-25 that features a slew of cool dive bars and restaurants.

4. Littleton. If you’d rather be further removed from the downtown scene, Littleton has some great restaurants as well. Old Littleton, specifically, has staples like The Melting Pot, Kate’s Wine Bar, and Jake’s to choose from. It’s an amazing location that also allows you easy access to Santa Fe Drive.

If you know of any awesome restaurants I should be aware of, don’t hesitate to reach out to me. I’d love to feature them in a future video, and if I do feature a restaurant you tell me about, you’ll receive a gift card to that same venue.

As always, if you have any real estate questions, feel free to give me a call or send me an email as well. I look forward to hearing from you.

Heritage Eagle Bend: A Premier 55+ Community

Today I want to share with you a little-known gem of a place here in Colorado called Heritage Eagle Bend.

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Heritage Eagle Bend is a community that has an age restriction, meaning that only people of a certain age will be allowed to live there. Located on the southeast side of Centennial, this community offers a ton of benefits to people who live there:

• Residents get to play golf and drive their own golf carts. For Floridians thinking of making a move, you at least won’t have to sacrifice that by moving here! This is one of the only places in Colorado, besides some private clubs in Denver, that allow that. Additionally, there’s a golf tournament for every season and multiple leagues to join.  

Heritage Eagle Bend is one of the premier communities in Denver.

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• All the homes in Heritage Eagle Bend are ranch-style homes that range from 1,300 to 5,000 square feet. There’s a nice assortment of homes there to choose from.

• Everyone I've worked with here loves the amenities, including the clubhouse, game nights, clubs, dance lessons, and the big pool. That’s in addition to the golf club!

All in all, Heritage Eagle Bend is one of the premier communities in Denver that allows for all sorts of social interactions. If you’re looking for a great place like this to live in Colorado, reach out to me. I can give you more details about the community or about any others you’re interested in. Hope to hear from you soon!

Showcasing a Beautiful Littleton Home

One of Colorado’s premier properties has just hit the market, and you won’t want to miss this video tour of it.

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Today I’m going to take you along for a virtual tour of 426 McArthur Drive: one of Colorado’s most incredible properties. This 6-bedroom, 4.5-bathroom home boasts an 8,000-square foot floor plan and is the perfect blend of comfort and elegance, with incredible views both indoors and out.

Whether it's preparing a meal for loved ones in the massive, modern kitchen, enjoying the mountain scenery from one of the property’s several walk-out decks, perusing your very own wine cellar, or entertaining at the full bar in the basement, there is no shortage of ways to enjoy this marvelous home.

The property even comes with its own driving range. In short: This house just may be the perfect place for you to call home.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Benefits of Living in Castle Pines Village

If you’re looking to buy a home in a gated community that offers plenty of great benefits, Castle Pines Village may be the place for you.

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Today I want to tell you about one of my favorite neighborhoods in all of Denver: Castle Pines Village.

If you’ve never heard of Castle Pines Village and you’re a homebuyer, there are plenty of benefits to living there. Over the past few years, my team and I have done a lot of business in this area. In fact, it’s where my family and I call home.

Castle Pines Village is one of the only gated communities in Denver that has a lot of pine trees, which are great for privacy and create an escape from the otherwise open landscape of Colorado. I moved here from California, and it really reminds me of the coastline forests of that region. Since it’s a protected area, you’ll also find a lot of neat wildlife roaming about.

If you’re an avid golfer, there are two executive courses within Castle Pines Village that offer full-package memberships that include the use of a variety of top-notch facilities.  

Over the past few years, my team and I have done a lot of business in this area.

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Every house in this community offers amazing views, but you still have quick access to the highway. There are also a ton of amenities located right outside the gate, including shopping centers and quick routes to the mountains.

Unless you’re a resident, you can’t get inside Castle Pines Village without a real estate agent, so if you’d like to take a tour of the neighborhood, give me a call and I’d be happy to be your guide. 

As always, if you have any other real estate questions, don’t hesitate to reach out to me as well. I look forward to speaking with you.

Why Sellers Are Losing Offers When They Should Be Winning Them

We’re in a hot seller’s market, but sellers are still finding ways to lose out on deals—here’s why.

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Despite the fact that we’re in a hot seller’s market, sellers are actually losing offers when they should be winning them. They could be entertaining multiple offers and still find a way to botch the deal.

How is this possible? There are three primary reasons:

1. Waiting too long to respond. In other words, they take their time and, if they’re not satisfied with one offer, they assume they’ll get multiple offers.

2. Not knowing what to do when they do get multiple offers. They don’t know which offer to choose, so they make different demands to different buyers in order to escalate each offer, but all that does is turn buyers off. They’ll start to feel used, decide you’re too unreasonable, and drop out of the running.  

A lot of sellers are missing out on some great offers, so remember why and make sure you’re not one of them.

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3. Not allowing the negotiation process to happen correctly. They’ll get a buyer under contract, but if that buyer then asks them to fix some items during the inspection process (a damaged roof, broken water heater, etc.), they won’t agree to fix any of them. Again, they just assume they’ll get another offer, but once that buyer walks away, there aren’t any more.

Whether they’re screwing up the deal in the beginning or near the end, a lot of sellers are missing out on some great offers, so remember these mistakes and avoid them to keep yourself from falling into that same fate.

If you have any questions about this topic or how to strategically align yourself to sell quickly and for top dollar in our Denver market, don’t hesitate to reach out to me. I’d love to help you.

Why Our Market Is More of a Mountain Than a Bubble

Our market is more like a mountain than a bubble. Here’s what I mean by that.

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Is our real estate market in a bubble that’s eventually going to burst just like it did a decade ago?

Fortunately, no. Instead of a bubble, imagine that our market is more like a mountain. Home values have been steadily increasing for a while now, but once they get to the top of the mountain, they’ll drop off a bit before rising again.

In my view, this is because buyers don’t get qualified for mortgage loans as easily anymore. In fact, one of the most challenging parts of buying a home is first getting qualified for a loan. Everything else about the home buying process is fun, but getting a loan isn’t easy. This means buyers who get approved for loans aren’t defaulting, foreclosing, or short-selling anymore. 

If you’re thinking of buying real estate, don’t let the rumors of an impending crash hold you back.

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Our market is a mountain, and that mountain is growing. Will prices eventually drop off in a few years? Yes—inventory will increase to the point where buyers will have more than enough homes to choose from and we’ll transition into more of a buyer’s market.

So if you’re thinking of buying real estate, don’t let the rumors of an impending crash hold you back. As I always say, it’s better to buy real estate and wait rather than wait to buy real estate.

If you have any more questions about this topic or you’d like to start your home buying journey, don’t hesitate to reach out to me. I’d love to help you.

What Motivates You to Sell Your Home?

Today I want to discuss a question I often pose to home sellers: Why do you want to sell your home?

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Many clients come to us saying that they need to move because their family has grown,  they got a new job, or they’re simply not happy in their current neighborhood. But we know that there are often deeper reasons for moving, which, in our experience, often boil down to three things: lifestyle, relationships, and cost.

Can you afford to go somewhere new? Do you really like the neighborhood? If you move, will your daily lifestyle match your ideals? These questions are all things to consider before making a move. 

What if there was a way that you could borrow the money you have in your current home to go out and buy a new home, and then turn your current home into a rental?

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And as you’re thinking of selling your house, also consider whether now is the right time. Could you buy a new home without selling your current one? What if there was a way that you could borrow the money you have in your current home to go out and buy a new home, and then turn your current home into a rental? This way, you could still achieve the lifestyle you want, you could still maintain relationships with your friends and family, and what’s more is that you could still afford it. If there was a way to do that, would it make financial sense to do so, and if it did make sense, would that option interest you?

Surprisingly, people don’t often think about the option of holding onto their current home when they’re deciding whether or not to purchase another. But in many cases, not only is doing this possible, but it’s also a great play: By turning your current home into a rental, you create equity, passive income, and real estate holdings.

If any of this sounds intriguing and you’d like to learn more, feel free to give me a call or send me an email. I’d be happy to sit down with you and discuss all the options you have.

How Real Estate Can Help You Beef Up Your 401(k)

You don’t just have to let your 401(k) sit there. You can actually put it to work for you through real estate, and you might even be able to double its growth.

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Today I want to talk to you about your 401(k). Maybe you've spent the last 20 to 30 years building up this pretty nest egg, but did you know that you can actually self-direct that 401(k) wherever you want it to go or take your IRA and move it to a self-directed platform? Did you know that you can buy real estate with your 401(k) and have tremendous tax savings as a result?

Imagine being able to take your 401(k) and double its growth.

”

I’m no tax attorney or CPA, but I have seen a number of my colleagues use this amazing tool to save money on their taxes by buying property within their 401(k). There are two companies that I’m familiar with that specialize in handling this type of transaction. Much like a 1031 exchange helps you transition from one investment property to another, Advanta IRA and New Direction IRA are wonderful businesses that act as custodians in the self-directed world of retirement.

Imagine being able to not just make 4% per year on your traditional IRA. Imagine being able to take that money to buy a piece of real estate instead. You’ll also be able to contribute to your 401(k) every year and be able to make money on that every month as you collect rent.

With a regular 401(k), it’s not appreciating based on the values around it, but it can if you use it to buy real estate. If you leave it in there for 20 years, it’s going to double. It’s very possible you could be seeing regular double-digit growth on your investment in your property.

If you have any questions about how this process works or how you can get started, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How to Find the Best Schools in Denver for Your Kids

I work with a lot of clients who are relocating to Denver with their families and want to find the perfect school for their children. Here’s what I recommend that they do.

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If you are thinking about relocating to Denver from another area in Colorado or another area in the country, you likely have a lot on your mind. If you also have kids, you’re probably also wondering about the school system and wondering about where your child should go.

There are a lot of options. Public schools, charter schools, private schools, specialty schools, religious-based schools, wilderness schools, and more.

When I’ve been asked this question from my relocation clients, I often point them to schooldigger.com or greatschools.com so they can do their own research. In addition, I wanted to introduce you to a really cool company: Emerging Consulting.

You can find them right around DU, which is right in central Denver, and they take a really cool, holistic approach to figuring out what kind of education you want your child to have. I highly recommend it and I’ve had clients rave about it in the past. If you’re interested, send them an email to info@emergingconsulting.com.

I’ve had clients rave about Emerging Consulting in the past.

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If you have any other relocation or real estate-related questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How Real Estate Improves Your Life, Part 3: Your Commute

Today, let’s talk about your daily commute.

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How is your daily commute going?

If you work from home, then it doesn’t matter.

But suppose you work downtown every day: Do you commute across town, fighting the Denver traffic on a daily basis? If you have to travel hours each day to get to work, I bet you’ve been thinking about how you can change your commute: “How can I relocate? How can I find a better way, short of getting a different job, that allows me to work from (or closer to) home?

For those who want to keep their current job but fix their daily commute, I encourage you to think about the benefits of owning real estate closer to work—it can make your life better.

We always ask our clients how owning real estate could make their life better. How will buying a house help your life, and in what ways? Is it going to increase your quality of life?

It’s not even just your money that your long commute is eating up—it’s also consuming quality time with those you love.

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If you’re commuting 45 minutes to an hour (sometimes even two hours) every day just to go to work, purchasing a home closer to work is something to consider. Think about other areas in town that might shorten your commute and save you a ton of money in the process. Imagine all the money you’re spending on gas or public transportation every single day.

And it’s not even just your money that your long commute is eating up—it’s also consuming quality time with those you love, whether it’s with your kids, your spouse, your family, or your friends. If you could have more time to spend with your loved ones AND live in a great property from which the commute to work would save you money, wouldn’t it be worth it?

You have all sorts of options. Yes, it may mean a sacrifice in some areas, but I encourage you to take some time to reflect on what’s most important to you and how real estate could help improve your quality of life.

If you’ve thought about finding a way to shorten your commute to work, reach out to me. We can discuss whether that’s even possible, what areas would be beneficial to look into if it is, and how we could go about finding the right property for you. I hope to hear from you soon.

The Value of Real Estate, Part 2: Homeownership

Today I wanted to share another way that real estate can make your life better.

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How does real estate make your life better? The obvious answer is that it allows you to stop paying rent—something that people the world over would love to be able to do—so that you can build equity and to establish a nest egg.

Think about it: No more landlords, no more rent hikes, no more waiting on someone else to make repairs, and no more worrying about whether or not your life is ever going to change.

When you buy a home, it’s yours. You get to explore and design the home to make it what you want it to be, no questions asked. The exception here is if you buy a home in an HOA (homeowners association) because they regulate what can or can’t be done to the outside of the home. But, for the most part, you have complete control over your home.

Owning a house can make your life better because it’s an extension of who you are and who you want to be.

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One thing that my wife and I have been pondering recently is whether our identity right now as homeowners is who we want to be—does our home resemble us? We’ve already done a lot to it already, but now we’re wondering, “What’s the next step to make our home embody who we are as a family?”

For example, maybe it’s more land. I would love to have our house back up to open space with a view of the mountains in the background. I’d love a fourth garage where I could park an RV or a boat someday. I’d also love to have more space for dogs—it’s a crazy idea, but I’d love to have 12 dogs and, with open land, we’d have the space to accommodate them.

Owning a house can make your life better because it’s an extension of who you are and who you want to be. Homeownership is a vehicle for self-expression.

If you’ve thought about owning your own home, or upgrading to another home, give me a call. We’d love to chat with you more about your dream and what your home needs to look and feel like for you.

How to Build Wealth Through Real Estate With the “Two-Year Live and Move” Method

Buying multiple properties may seem like an out-of-reach goal, but today I’d like to share how accruing several houses through the “Two-Year Live and Move” method can help you earn wealth through real estate.

Buying a home? Click here to perform a full home search
Selling your home? Click here for a FREE Home Price Evaluation 

Call me at 303-974-9471 for a FREE home buying or selling consultation to answer any of your real estate questions.

At the Anderson Group, the idea that your life can be made better through real estate is the foundation of our company.

There are a few different ways this philosophy can manifest. For one thing, homeownership in and of itself can massively improve your quality of life. But what about buying multiple houses? If buying one house is beneficial, is buying several even more so?

Owning a lot of property is, of course, a dream many people share. It boosts your net worth and can even open up opportunities for earning passive income. That said, not everyone has the funds to buy and own more than one home at a time. If you’re on a fixed income, purchasing multiple properties might not seem like an attainable goal.

With all of this in mind, I’d like to share a method that can put this aspiration back within reach: The “Two-Year Live and Move” option. Here’s how it works:

The more investment properties you accrue, the more passive income you gain over time.

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The first step is, of course, to buy a home. The next step is to live in the property for two years, building up equity as you do, and then to move on to your next home. Because your first home will likely have appreciated in the two years you lived there, you will be able to borrow from this equity to facilitate this move. Instead of needing to put 25% down, you’ll be able to buy your second home for just 3% or 5% down.

The catch is that, instead of selling your first home, you maintain ownership but turn it into a rental property. This passive income will allow you to continue paying off the property without dipping into your own personal funds.

The best part is that you can continue this process as many times as you want, accruing more and more investment properties (and, therefore, more and more passive income) over time.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

What Kind of Return Can You Expect From Upgrading Your Home’s Decks and Doors?

Decks and front doors can both bring a high return on investment when properly upgraded.

Buying a home? Click here to perform a full home search
Selling your home? Click here for a FREE Home Price Evaluation 

Call me at 303-974-9471 for a FREE home buying or selling consultation to answer any of your real estate questions.

As we’ve discussed in previous messages, the relationship between cost and value when it comes to home upgrades is hugely important to buyers, sellers, and homeowners alike. Today, we’ll be talking about two home features—decks and doors—as they relate to this concept.

To illustrate why these features matter, allow me to share the story of my last home purchase.

A few years ago, my family and I were in the middle of buying our current home. At the time, the back yard was an absolute mess. The deck, in particular, was in need of a major upgrade. It had this unsightly square paneling, was poorly designed, and was far too small. The moment my family moved in, I knew that this deck was the first thing I wanted to change.

We ripped out the deck and replaced it entirely. The new deck we installed was a massive improvement. It was much larger, much more durable, and much better looking. We receive compliments on it all the time. It really is a showpiece. But what about its cost-to-value ratio?

Buying a second home and opening it up for short-term rent when you’re not there is a great way to pay the mortgage and even receive cash flow.

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All told, this deck would bring a 91% return on investment if, or when, we sell this home. 

Moving on, upgraded front doors can also bring a return in the 90% range. I still haven’t upgraded my own front door, but I would definitely like to. A front door plays a massive role in your home’s exterior appearance. It often serves as a first impression, so it needs to look good and have a lot of character.

The thing to remember about making these or any other upgrades is that they should enhance, not overwhelm, the rest of your home. Everything you do to a given property should work toward a cohesive overall look and feel.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

3 Questions to Consider When Thinking About Buying a Second Home

If buying a second home has been on your mind, there are three questions that’ll help you determine if it’s the right move for you.

Buying a home? Click here to perform a full home search
Selling your home? Click here for a FREE Home Price Evaluation 

Call me at 303-974-9471 for a FREE home buying or selling consultation to answer any of your real estate questions.

Buying a second home, for some, would be a dream come true—another home away from home. For others, it makes little sense. Those folks wonder, “Where is the value in buying a second home when I could Airbnb wherever I’d like to travel to in the world?” That question is fair, and they’re equally legitimate thoughts on the subject. 

If you’re someone who is leaning toward making this purchase, there are three questions you and your family should consider:

1. Is it going to be fun? A perk of buying a second home here in Colorado is that you’ll never be far from the mountains, and access to skiing, water, and hiking trails could make for long-term enjoyment for you and your family. 

Buying a second home and opening it up for short-term rent when you’re not there is a great way to pay the mortgage and even receive cash flow.

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2. Could it make money for us? I’m speaking from experience, as my family and I bought a cabin for vacation stays and with the intention of renting it out when it wasn’t in use. Following the purchase, it didn’t take long before we had renters coming through, helping us shoulder the mortgage cost. This way, we can make visits when we like (Christmastime, the summer months, etc.) and allow renters to stay short-term for the rest of the year. Buying a second home and opening it up for short-term rent when you’re not there is a great way to pay the mortgage and even receive cash flow.

3. Can it grow? Don’t be dissuaded by the fact that growth may not be as rapid as it would be in, say, Denver. Instead, look at this purchase as a long-term investment that you can one day pass along to your children—putting the property in their name, creating an LLC, or buying it with your 401(k) are viable options. 

If you have any questions about buying a second home or if you need any help whatsoever with your real estate needs, please give me a call. I’d love to chat with you!

Check Out These Expert Market Predictions

What’s happening now in our local real estate market, and how will things play out through the rest of this year? Find out in today’s message.

Buying a home? Click here to perform a full home search
Selling your home? Click here for a FREE Home Price Evaluation 

Call me at 303-974-9471 for a FREE home buying or selling consultation to answer any of your real estate questions.

Now that we’ve entered the new year, we’d like to take a moment and share our predictions for what lies ahead. Will our market cool off? Will it stay hot? Let’s discuss these points and more.

First of all, our team doesn’t anticipate a market slowdown as we progress into 2019. There may be periods of cooling, but we believe conditions will remain hot in general. Why? Well, there’s still not enough inventory to sustain current demand. Builders are selling out more quickly than they can build, and there are fewer resale homes on the market, as well.

I don’t have a crystal ball, but these predictions are my best estimation of what the future of local real estate will hold.

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Beyond the low inventory, interest rates are still historically low. This, along with currently high rental rates, serves as a strong incentive for people to get out in the market and buy.

Of course, I don’t have a crystal ball, but these predictions are my best estimation of what the future of local real estate will hold.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.