Must Haves For Buying A House: Denver Real Estate Market Facts
Must haves for buying a house in the Denver metro area continue to raise the bar for home builders, remodels, and homeowners making updates prior to selling a current home and buying their next home. Real estate market facts for the Denver area confirm that the market remains competitive.
A special program for homes with a market value of $750,000 and lower makes it possible to buy and move into your next home before selling your current home. Contact Sam Wilson for information about this program.
This article shares the top ten must haves for buying a house plus Denver real estate market facts from the National Association of Realtors March 2021 report (download the full report here). Let’s being with three must haves for buying a house and look at the latest home sale trends for the Denver area:
1 – Open Floor Plans, Natural Light, and Windows
Gone are the days of dark home interiors and walls dividing kitchens, dining, and living areas. Open floor plans that offer natural light and windows to view the outdoors are more popular must haves for buying a house today. Families and individuals who entertain can enjoy being together while in the kitchen or the living area at the same time. Walk-out features like a raised deck, outdoor patio and a sitting area make indoor and outdoor entertaining a breeze.
2 – Outdoor Kitchen, Fireplace, Hot Tub or Pool
Must haves for buying a house are the luxury features of an outdoor kitchen, fireplace or fire pit, and a hot tub or pool. In Colorado, where residents enjoy the four seasons, summer evenings can be cool. Even in the winter, on sunny days when snow is on the ground, basking in the sun by a fireplace or fire pit can be a pleasurable and relaxing activity.
The luxury of soaking in a hot tub or taking a dip in a pool after a heavy day of hiking or skiing may be the perfect end to the day. Learn why Lakewood Colorado and Jefferson County Colorado are two of the best places to live in Colorado.
3 – King and Queen Bedroom
Bedrooms fit for a king or queen are another item on the list of must haves for buying a house in the Denver metro area. A seating area or window nook for reading can add to the attractiveness of a bedroom where so many hours of life are spent.
Built-in lighting, remote control window shades, and other types of technology are becoming top interests for home buyers. A bedroom suite can become a quiet haven in a busy household.
Denver Real Estate Market Facts: The March 2021 Report
Let’s look at facts from the March 2021 National Association of Realtor report for real estate sales in Denver, Colorado.
- The number of residential homes listed for sale as of February 28, 2021, was 2024, a decrease of 12.61% versus January 2021.
- 3641 homes closed during February 2021, an increase of 13.4% versus January 2021
The median days on the market in the MLS (multiple listing service) is 5—with average days on the market at 23.
What is the average home sales price in the Denver metro area? The average closed price in the Denver metro area is $553,774 a one percent increase versus January 2021 and a 19.44% increase versus the prior year.
What Do Denver Real Estate Market Facts Mean for Home Sellers and Home Buyers?
To avoid becoming frustrated with a realtor who doesn’t appear to be doing his or her job, it’s crucial to hire a realtor who can educate you about the competitive Denver real estate market. Homebuyers in competitive markets can feel unprepared for the rapid wild ride of houses coming on the market, attending a showing, and making an offer all in the same day.
While some realtors may have gained a reputation for pressuring buyers to make offers, if the realtor you hired doesn’t prepare you for what it takes to buy the house you want—you hired the wrong realtor. Understanding the components of a competitive offer that wins the purchase or the sale is a unique skill of knowledgeable and experienced realtors.
Rather than being continually disappointed by not getting the home of your dreams, working with your realtor to create a winning strategy for buying a home is essential in today’s Denver real estate market. The national news confirms the struggles of home buyers. The top reason people who have been searching for longer than three months for a home is that they have been outbid by other offers.
Sam Wilson Realtor in Lakewood, Colorado, has a program and a strategy to help home buyers get the home they want without the worry of owning two houses at the same time, bridge loans, or placing contingencies into real estate offers. Contact Sam today at 303-770-1250 to learn more.
Let’s continue with the next three must haves for buying a home in the Denver metro area.
4 – Walk-in Closet and Dressing Area
A walk-in closet with a dressing area is another popular remodel or addition to a home. Areas to store shoes, belts, purses, neckties, hats, and other accessories make these items easily accessible. Rather than changing out summer and winter clothing, all items can be stored year-round in the same closet.
Imagine cedar shelves to place folded sweaters and other clothing in addition to areas to hang clothing. Lighting and a floor-to-ceiling mirror make a walk-in closet with a dressing area a great addition to a king and queen bedroom.
5 – Spa Bathroom
Spa bathrooms are becoming another of the features most home buyers want. Dual sinks with ample storage make it easy for couples to occupy the bathroom at the same time.
Walk-in showers with seats, shower jets, and steam are favorite features. Add to this radiant heated floors, heated towel racks, and a soaking tub that recreates the experience of going to a local spa. Automatic faucets and hand dryers are features in newer energy-efficient homes.
A toilet with a side-by-side bidet represents the future of cleaner living and a more pleasant bathroom experience. Bidets have common in Europe since the 1700s and are perceived as more sanitary than using toilet paper. Some bidets offer heated water features and drying features
6 – Warming Drawers and Wine Cellar in the Kitchen
Commercial grade kitchens have become more prevalent in homes over one million dollars. Kitchens featuring warming drawers, a wine refrigerator, walk-in pantries, and other amenities are must haves for buying a house when cooking and entertaining are priorities.
Homes in the mid-price ranges also feature kitchens suited for entertaining guests. Whether cooking is an interest or a necessary part of life, having a kitchen with up-to-date appliances and ample counter space makes living easier.
Showing Times and Time to Make an Offer In the Denver Market Are Tight
Due to demand for homes, showing times that used to be 30 minutes are more are decreasing to 15-minute windows. This means that virtual showings, homes featuring interior and exterior videos, and photo reels are becoming more important so that buyers are confident of interest in a home before scheduling a showing.
After viewing a home, the time-pressure to make an offer that is accepted is real. Homes are going under contract in a matter of 4-5 days. If you are a home buyer, it’s critical to dedicate time to work with a knowledgeable and experienced realtor to make an offer within 24 to 48 hours.
While this time frame to identify, tour a home and decide seems ridiculous, this is the race for time situation that home buyers face today. All the more reason to make sure you have the right real estate team who knows how to frame a winning offer and negotiate to get the home you want.
Once you buy your next home, it’s time to plan your move and enjoy all the must haves for buying a home. If you can take advantage of the Sam Wilson Home Selling Team’s program to buy and move into your next home before selling your current home, you will be able to manage the stress associated with Denver’s tight real estate market.
Must Haves for Buying a House in the Denver Area
Create your list of must haves for buying a house and make sure your realtor knows your top priorities. Priorities for home buyers differ by personal preferences and lifestyle. Location or a large yard may be a priority for a family, while a cook’s kitchen may be important to a couple who enjoys entertaining. When you know what you want in a home and can focus on the part of town where you want to live, finding your next home in the Denver Area will be easier because you know exactly what you want.
7 – The Man or Woman Cave: A Game, Theatre,or Craft Room
Game, theatre, and craft rooms are another of the features home buyers want most. COVID restrictions and stay-at-home orders may have more families staying in than going out today and in the future. Sports bars with liquor storage, mini-kitchens with refrigerators, and sinks are newer additions that add comfort to a home and make entertaining easy. Craft rooms for sewing, pottery, and art projects are popular woman caves. Some homeowners are creating outdoor spaces for pottery and craft sheds. Create or design your get-a-way man or woman cave in your next home.
8 – Dedicated Laundry Room
A separate laundry room, rather than combining a laundry area with a kitchen or closet area, is becoming another of the must haves for buying a house. Space to wash, fold, and hang dry laundry makes this task more efficient and comfortable.
9 – Exercise Room
Having an exercise room in the home is a top priority for homeowners who want the convenience of working out in the morning or after work, minus large crowds that may be at a fitness center. Space for a treadmill, bicycle, and elliptical equipment plus weight equipment, weights, and an area for stretching can mimic the effects of going to a gym.
Some homeowners create a total workout experience by adding a television or sound system to make working out more pleasurable. Luxury homes may include an indoor ice bath or cold water plunge tub for an after-workout recovery easily accessible to an outside area with a hot tub or pool.
10 – Technology and Home Offices
Technology is becoming more critical as working from home becomes more popular. High-speed Internet access is no longer on a wish list, but a must have. Homes with climate control, alarm systems, special lighting, electric window shades, and wireless home automation systems—that allow control of the home even when homeowners are miles away are becoming popular.
Home offices that accommodate desks and a meeting area are the new must haves for buying a home. A suite in the home with the technology and wiring to host computers, printers, scanners, video cameras, green or background screens, audio equipment, large screens, servers and other equipment make it easy to work from home or operate a business from home.
If You Are Thinking of Buying or Selling – The Knowledgeable and Experienced Sam Wilson Home Selling Team Is Here for You
Are you thinking about buying a home in Lakewood Colorado? Get expert real estate advice when house hunting for homes for sale in Lakewood, CO, Jefferson County, and the Denver metro area. Work with a buyer’s agent on the Sam Wilson Home Selling Team. If you are thinking of buying or selling a home, we make you a priority and share our expertise to make the home buying or selling process as stress-free as possible.
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The Sam Wilson Home Selling Team specializes in homes in Lakewood CO, and Jefferson County Colorado, including Arvada, Aspen Park, Conifer, Edgewater, Evergreen, Genesee, Golden, Idledale, Indian Hills, Ken Caryl, Kittredge, Lakeside, Lakewood, Littleton, Morrison, Mountain View, West Pleasant View, and Wheat Ridge.
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