Buy A Condo In Denver, Colorado
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Whether you’re purchasing a home for the first time or have been through a few closings, buying a condo, loft, or townhome is bound to be one of the biggest decisions of your life – and you will want to get it right! Let us help you with your research.
There are thousands of lofts, townhomes, and condos for sale in the Denver metro area, but which one is the perfect place and location for you?
Below are some major factors to consider when comparing condo units and condo buildings or complexes.
Location, Location, Location Of The Condo Or Loft
Most people look for condos for sale in their favorite neighborhoods or areas of Denver, and then it’s a matter of further narrowing down the location. Is the condo near a park, on a one-way street, close to restaurants and bars (maybe too close?), convenient to public transportation (B-Cycles, 16th Street Mall, buses, light rail). Is the condo in a good neighborhood, a bad neighborhood, or an up and coming neighborhood? All of these factors and others are important to consider when buying a condo or pricing a condo for sale.
Price Of The Condo Or Loft
The price of a condo is also a big factor in the decision-making process, not only what price range you can afford, but whether the condo is appropriately priced and will appraise at or above the price you offer the seller. Generally, it’s easier to come up with accurate pricing for condos and lofts than it is for single-family homes, because more accurate comps are available – units that have either sold in the building or a nearby complex.
HOA Fees For Condos And Lofts
While the price of the condo is important because it will determine your monthly payment, so, too, are homeowners association fees, because they can take a big bite out of your budget, and they’re not tax deductible. HOA fees can be steep in some Denver condo and loft projects, depending on the amenities included in the complex, the strength of the HOA, and how many homeowners failed to pay their HOA fees in the past.
HOA Rules and Regulations For Condos And Lofts
It’s important to understand that when you buy a condo, loft, or townhome in Denver, you’re buying into a legal entity. And that entity – the HOA – controls just about everything you do. From whether you can have a bbq grill on your patio to the weight and breed of your dog, from which improvements you can make inside your condo to whether or not you can ever turn your condo into a rental, the HOA rules and regulations tend to be comprehensive and virtually unchangeable for every multi-family complex in Denver.
Amenities In Condos And Lofts
It’s impossible to compare condos for sale without comparing amenities, those that are found inside the individual condo unit, as well as those that are in the building or complex. High ceilings, fireplaces, large windows, and hardwood floors are some of the most popular amenities inside condo units. Fitness centers, pools, and community rooms are some of the most sought-after building amenities. And some of Denver’s newest condo projects have piled on the amenities, including concierge services, guest suites that you can rent nightly for your friends and family, valet parking, dog parks, and more! While amenities are lovely, just remember that you’ll be paying for them in your HOA fees, whether you use them or not.
Elevator Access In Condos And Lofts
If the condo building you’re looking at in Denver is two or three stories tall, there’s a good chance it won’t have elevator access. You’ll be taking the stairs if you live on one of the upper floors, which might not bother you, but could potentially affect your chances to resell your condo.
Views From Condos And Lofts
If the condo or loft building is taller than four stories, chances are you’ll have views. The most common views in lofts and condos in or near downtown Denver are the mountains, cityscapes, and park views (Cheesman Park, Washington Park, or City Park). Before you buy a condo, be sure to compare the views with other condos that might be for sale in the same building. And also, do your due diligence and make sure that nearby zoning won’t permit those views to be blocked sometime in the future by a taller building.
Parking – For You And Your Guests
Over the past few decades, Denver’s urban planning has been less than ideal, and as a result, many of the condo projects in central and downtown Denver have no parking. None. When you’re considering which condo to buy, it’s important to find out if a deeded parking space (meaning it belongs to you) is included with the unit and whether or not that parking space can be sold separately from the unit. In addition, it’s nice to know whether the parking is in a garage, carport, or surface lot. And if there is no parking space, how easy will it be to find on-street parking as close as possible to your condo?
Soundproofing In Condos And Lofts
Condos in and near downtown Denver represent the gamut of construction quality, ranging from poor to top notch. The level of construction quality – particularly soundproofing – can dramatically impact your enjoyment of your condo unit. Hardwood floors, while attractive, can also increase noise levels.
Parks and Trails Close To Condos And Lofts
With most condos and lofts, you won’t get any “dirt.” At best, you’ll get a balcony or terrace. If you love being outdoors, you’ll want to buy a condo or loft that’s near trails and/or parks. The good news is that Denver has more than 200 parks. And then there’s the Cherry Creek Trail, a concrete and asphalt path that extends from Cherry Creek Reservoir to Confluence Park in downtown Denver, running parallel to Cherry Creek river the entire way.
Public Transportation Near Condos And Lofts
If you’re relocating to Denver from Chicago, San Francisco, Boston, New York City, or another major metropolitan area in the U.S., you’ll be sorely disappointed with Denver’s public transportation options. Transportation was an afterthought as most of Denver was developed, and that’s apparent the first time you try to ditch your car. Things are improving, however, and if using public transportation is important to you, check to make sure that your condo or loft is within easy walking distance of: an RTD bus route and stop, light rail, and/or the 16th Street Mall shuttle. If you are really intrepid, you can also check for nearby B-Cycle stations (Denver’s public bike sharing program) and/or Car2Go cars (tiny cars that can be rented by the minute).