When you’re a first-time homebuyer in Denver, knowing where to focus your home search can be challenging. That’s why we asked our real estate professional to tell us what neighborhoods they view as most desirable for first-time homebuyers. Keeping in mind that most first-time homebuyers don’t have a huge budget, here’s what they recommended.
Consider Affordable Neighborhoods
For most Denver first time homebuyers the big obstacle in our crazy market is price. If you’re looking at a lower price point I’m a big fan of North Aurora. There are affordable starter homes, and there is a definite hipster appeal in the old town area with some of the new businesses moving in (Stanley Marketplace, etc). The area is developing rapidly and is super convenient to downtown; the new rail line makes a downtown commute easy. There are also still quite affordable condos and single family homes along the 1-225 light rail corridor. That line won’t start running until the end of 2016, so if you are thinking a bit ahead of the crowd you can still find a deal. If you’re a first time homebuyer who is at all entrepreneurial or has an investment mindset you might look into a first home that has some income potential – duplex or a house with an accessory unit that you could rent out. If you find the right lender you will be able to use some of the potential rental income to qualify for a mortgage!
Team Zen – Brokers Guild
Look for Future Equity
The challenge for the typical first-time buyer lies in the price range. Strategically, future equity can be found in many places. I like Edgewater, University Hills, Harvey Park, Lakewood, and Sunnyside.
REMax – GJ Gardner
Popular Affordable Areas
Something that is affordable for them. Alta Vista seems to be popular currently, but Highlands, Washington Park, and Downtown still are popular with buyers!
Cherry Creek Properties LLC
Leisure Time and Activities
Neighborhoods that they would like to come home to and spend time in after work. Think about what you enjoy doing, sports, bars, theater, etc. and do you want to be able to walk to these activities or have them nearby?
Your Castle Realty
Family Friendly Neighborhoods
My first choice would be Fort Logan. Though it is further south than my other choices, it’s perfect for first time buyers with a family or the intention to create a family. Houses are still reasonable just under the $300s. Kaiser Elementary School is high ranking. And crime is low.
Next would be the understated Globeville – they are revitalizing this old historic neighborhood. For houses with classic charm or easy renovating you can’t lose for the average house is in the $150s perfect for first time buyers on a budget. And is in the downtown area.
Burnum west would be my next suggestion. Though it is higher in crime than the others, it is close to Federal and gives you easy access to down town, has great restaurants and the houses are in the $170s.
The Highlands lead me to my next choice the neighborhood of Regis this is the most expensive of my suggestions houses starting around the $300s but when you tour the neighborhood you will see why, Regis is a beautiful campus it’s close to I-70 and there are charming places to shop and eat it’s close to Sloans Lake and will be adjacent to the Highlands soon!!!
Sellstate ACE Realty
If you’re in the market for a new home, we encourage you to contact one of these experienced professionals. If you like what you read, like us on Facebook so you can always stay ahead of curve with expert, timely insights to help you buy or sell your home.