Real estate has proven to be the go-to investment asset for many people over the years. It is a source of consistent passive income, offers several tax advantages, appreciates over time, and can serve as a good hedge against inflation. These benefits, however, are only accruable to you as a property investor when you put your money in the right real estate market.
Denver encapsulates the characteristics stated above. For starters, the Denver metropolitan region, which also includes Lakewood and Aurora, hosts close to 3 million people. And this number is projected to rise over the next few years given the migration rate. As a property investor, such news should be like music to your ears.
The increase in population can be attributed to the employment opportunities in the region. The unemployment rate in the area is down to single digits. Professionals from outside Denver are also being lured in to take advantage of the vibrant economy and job sector.
You can also choose to invest in student housing due to the number of quality universities in the area. The University of Denver, MSU Denver, and the University of Colorado Denver ensure that there are thousands of students streaming into the region all year long.
So, with all these investment opportunities, the question still remains, where should you invest in Denver? Keep reading and find out!
Rosedale
One of the highly rated neighborhoods to purchase real estate in south Denver has to be Rosedale. The neighborhood is known for its serenity, quality public schools, and well-planned walkways. It’s a target for both families and professionals looking for residential properties.
Rosedale is located a few minutes from downtown Denver in the city of Greeley, offering fast and easy access for regular commuters to the city. Should a resident choose to leave the car one day, they can make use of the buses that circulate regularly in the neighborhood.
In terms of real estate, there are several options to choose from. You can invest in single-family homes for renters who want or need more space. If you are targeting professionals and business-oriented renters, you can purchase some of the new apartments in the area.
Chaffee Park
Located on the other side of Denver, we have Chaffee Park. This is yet another great neighborhood offering residents easy access to the city, vibrant nightlife, and great value. Chaffee Park has easy access to Highway 287 or the I-70. The two highways are located on the neighborhood’s edge making commenting to work a breeze.
Due to the proximity to the highway and the vibrant neighborhood, the demographic in Chaffee Park is quite young, with a large of number recent graduates and young couples. While there are single-family residences in the area, the more common property options are apartments and condominiums.
Compared to the other neighborhoods in the region, Chaffee Park is one of the more affordable options. If you are looking to get value for every dollar spent on your investment, Chaffee Park is the neighborhood to consider.
Glenwood Springs
If you are tired of options close to the city, we recommend investing in Glenwood Springs. The neighborhood is in the western region on the I-70. Residents of the area are assured of some peace and quiet, away from the hustle and bustle of the city.
Without a doubt, Denver, CO is a lucrative market for any property investor. The initial cost of purchasing a property is the one obstacle in your way if you’re a first-time investor. Therefore, you might choose options that are more affordable but can still guarantee you some good income.
As the name suggests, Glenwood Springs is home to a number of hot springs that are quite a tourist attraction. If investing here, you might want to consider a short-term rental. The area is peppered with natural springs and lakes as well as spas. In addition to this, the Colorado River is located close by. Visitors to the area are spoilt for choice with activities in nature all year round.
With good advertising on vacation rental platforms such as Airbnb and Booking.com, you can earn consistent income thanks to the steady stream of visitors to Colorado and especially Glenwood Springs.
What’s more, Glenwood Springs property values have been appreciating steadily. It might be time that you entered the market to take advantage of this.
Villa Park
An affordable option close to the Denver downtown area is Villa Park. It’s located three miles to the west. The area is quite hilly thanks to the presence of three creeks, the Lakewood Gulch, Weir Gulch, and Dry Gulch which offer beautiful landscapes.
In addition to its proximity to downtown Denver, residents have a number of shopping establishments and entertainment hubs to visit. Investment options in Villa Park are mostly in the form of condos and apartments. Due to Villa Park’s youthful population, most rental units are one to two-bedrooms.
Bottom Line
Real estate is a sure way of growing wealth and diversifying your portfolio. That said, you need to invest in a property market that has demand for rentals and the potential for growth. Denver and its surrounding areas are such a market.
If you are convinced that Denver is the right place for you to invest, consider the neighborhoods of Chaffee Park, Glenwood Springs, Villa Park, and Rosedale.
When investing in real estate, you need the right team by your side to help you make the right decisions. Rely on the expertise of the local real estate professionals at Keyrenter Property Management Denver. We have years of practical experience advising investors and helping them manage their rentals.
Get in touch with us today. Our property experts are looking forward to hearing from you!