You are looking to buy a piece of the American Dream… your very own home. Maybe this will be your first home so you can tap into the $8000 tax credit. Maybe your lifestyle has changed and warrants a home style change to match.
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First, location is always the number one factor in real estate investment. Location will then also influence your lifestyle.
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So, the question is… What current and future real estate trends will help ensure that the home I purchase will be a good investment?
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Urban/urban-esque and eco features are the two big trends that are taking hold and becoming increasingly important in determining current and future real estate values. Often these two are very complimentary.
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Most homes in Denver's Sloan's Lake Neighborhood meet ALL the location investment requirements!
URBAN/URBAN-ESQUE LOCATIONS
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1. Close to downtown/business district: Within five miles of major downtown or business district (the closer the better)
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2. Walking/biking distance to town center with shops and restaurants.
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3. Walking/biking distance to public transportation: bus, light rail, commuter rail
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4. Easy access to major roads and highways: driving through a neighborhood can really tack on commute time
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5. Walking/biking distance to parks: dog parks, city parks, lakes, trails, etc.
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* Views are a bonus: you’ll pay extra for the views when the market is hot but not when the market is not. So, the best time to buy a home with views is when the market is slower and you can use it to command a higher price when the market returns.
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Future commuter rail will connect Denver and Boulder!
GREEN HOME FEATURES:
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1. . Design and size: Good site design (south facing for solar?) and just large enough, as opposed to larger is better.
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2. Community connectivity: Located close to work, school, recreation and other basics (see location criteria above).
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3. Easy access to alternate transportation: public transportation, sidewalks, bike paths
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4. Energy and water efficiency: At least 15 percent or more efficient than others.
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5. Material selections: Use of some recycled and/or reclaimed products.
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6. Indoor air quality: Limiting use of materials with potential toxic effects and increased ventilation.
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So, when considering a home purchase think…
1. Does this home meet the location criteria for a good investment?
2. Does the home meet the eco green critera or does it have the potential for eco upgrades?
3. How do I currently live my life and what is my budget?
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RESOURCES:
- Best Real Estate Locations for Investment and Quality of Life
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