All That You Need To Know About Relocating to Denver, Colorado

Are you planning a move to Denver, Colorado? Then you are going to be in very good company. The Metro Denver region has bagged the 2^nd spot in the U.S. News Best Places to Live list in the country. Parameters considered were the amenities available, an expanding job market, and net migration.

Check out our video that details popular home styles here in beautiful Colorado! Please enjoy, then book a consultation so we can get you ready to own a piece of Colorado real estate.

But that is not all you will be looking for when relocating to Denver with family. Your focus will be on the quality of life in Denver. Just imagine that a majority (90%) of the residents live within a 10-minute walk from a park where you can have a morning jog. Then there is the famous Rocky Mountains with international standard ski resorts and magnificent scenery, all within minutes of the heart of the city.

Denver has all the attractions expected from a thriving metropolitan city, from museums to sports stadiums and a zoo. The Denver Performing Arts Complex is the largest such facility in the country.

So, are you having second thoughts about residential moving to Denver? Presumably not. Hence let us get down to how top-class can help you make the move regardless of whether you are looking to rent or get new homes in Denver on outright purchase.

Choosing New Homes in Denver

Before relocating to Colorado, you should have a clear idea about the type of residential accommodation you need. Fortunately, whatever your choice, the real estate market in Denver will deliver. Or better still, get in touch with us at Just Livin Realty. We have years of experience in helping people move to Denver, Colorado, and will get you the ideal home that will match your requirements.

So what are the options before you when selecting new houses in Denver Colorado?

Selecting the type of home you need in Denver, Colorado

Single-family homes

These are standalone homes that do not share a boundary wall with other houses. It has a dedicated garage within the premises.  

Duplexes

These are two houses in a building but each has its entrance. Both the houses share a common wall if the houses are built side-by-side or a ceiling and a floor if the structure has two stories. 

Condominiums

These are several privately owned units in a single structure or building. The interior unit rights are with the buyer but not the exterior of the structure. Owners or renters share common spaces like parking, hallways, gardens, and pools. However, a monthly charge is payable for maintenance and utilities such as electricity in the common spaces.

Townhomes

If you are looking for new townhomes in Denver, CO, you will find plenty of them, whether to rent or buy. These are multi-story living units constructed side-by-side. Both the exterior and the interior of the units are owned by the owner, even though there might be one or two shared walls with other units depending on the plan of the building. As in the case of condominiums, monthly fees are collected from the residents for any shared amenities.

Before relocating to Denver, finalize the type of home you want and the space that meets your requirements. When deciding on the budget, consider the maintenance charges per month too. For example, a condo with monthly fees might be cheaper than a single-family home.

Work out your needs and budget and talk to us at Just Livin Realty. You can be assured of a fair deal.

Selecting the location where you would like to stay in Denver

Check out the neighborhood you would like to stay after deciding on the type of home. To have a peaceful and happy life, the two should sync with each other. Here are some of the amenities to consider.

Distance from basic amenities

Playgrounds, grocery stores, and shopping malls should be available within walking distance or at the minimum, be connected through public transport. Your savings on forgoing car trips will be substantial.

Schools

If you have school-going children, choose an area where top-rated schools are located. But so will many others and this is why houses near good schools have a high price tag or high rent.

Parking

If you have selected a home without dedicated parking, check out the availability of street parking. Visit the area at night or over weekends when most cars are parked to verify the availability of space for your car.

Property taxes

Property taxes differ between neighborhoods, a factor that should especially alert you if you wish for new homes in Colorado to buy. For accurate information, give our experts at Just Livin Realty a call.

It is always advisable that you visit the neighborhood several times at various times of the day to get an idea of the quality of life that you will go through.

House Moving to Colorado – Buying or Renting Homes

Let us now go through the various formalities in two cases when you are moving to the Denver area. The first is looking for affordable homes near Denver, CO to buy and the second is to rent and move-in-ready homes in Denver.

In both cases, contact us at Just Living Realty and our experts will walk you through the whole process, from finding a house to drawing up the contracts to putting the key in your hand.

Here are the details that you will face in either of the two instances.

Move-in Ready Homes in Denver for Rent

Rental residential properties are dwelling units that earn income for the owner from payments of rent paid by the tenant.

Rental properties can include houses, condos, apartments, duplexes, townhomes, basement suites, and even mobile homes. 

Regardless of what type of properties a tenant might rent, the most critical step is to sign a lease agreement with the owner.

What is a rental lease agreement?

A rental lease agreement is also called a tenancy agreement, a rental contract, or simply, a lease agreement.

A lease agreement describes the rights and obligations during the rental term of both the landlord and the tenant. It clearly explains the fees and payments, home improvements, property use, and maintenance of the property during the rental period.

What information is contained in the lease agreement?  

The information in a lease agreement is as follows:

• Complete details of both the landlord and the tenant and the length of the rental contract.
• Amount of security deposit, rent, and frequency of rent increase if any. All additional costs such as utilities will be spelled out in the agreement.
• Details of the property such as the total and carpet area, and provision for parking, storage, and other amenities.
• Whether having pets or any form of home business is permitted.
• If options are available to sublet, renew the lease, or purchase the property at a later date.
• The rules for late payments, termination of lease, and entering the property.

While every lease agreement has a contract or rental period, there are options to end the lease early.

A landlord can issue a Notice to Quit if the tenant has violated any terms of the agreement or failed to pay rent. A tenant can issue a Termination Notice if the landlord has violated any clauses of the landlord-tenant agreement or laws.

Outright Purchase of New Homes in Denver

As we have seen before, Denver is one of the best places to live in the USA. Hence, if you have decided to relocate to Denver, buying a home and settling down in the city or any place near it is one of the best decisions you can make. To arrive at your goal, we will take you through the steps till you finally get the keys to your dream home.

Contact a real estate agent

Get your finances in order, arrange for a mortgage, and have a pre-approved letter in hand before you contact a real estate agent. (Mortgage rates and details are given in the next section). It will help the salesperson to know what your budget is and the ideal house to look for.

The reason why you should go through an agent is because you are new to the area and do not know about the prevailing market conditions. A salesperson will know if a house is priced right as per Denver’s local real estate trends and whether there are any issues with a house. You will be guided about the suitability of a home in a neighborhood that you will not be aware of.

Further, you do not have to pay anything to a real estate agent. Commissions payable to agents are a percentage of the sale price and are borne by the seller and split between the agents of the seller and the buyer.

Finalize a contract

Your real estate agent will take care of all the formalities and negotiate with the seller to secure a fair deal for you. However, ensure that the contract drawn up by your agent has a clause where you can walk away from the deal. This is necessary in case your mortgage sanction falls through or you find that the selected house in Denver requires costly repairs and renovations beyond your budget.

Alternatively, you can get estimates for repairs from licensed contractors in the area in Denver. Research these expenses and ask the seller to adjust the amount from the asking price. Your real estate agent will help you through the entire process. Make sure that the repairs are finished before you move in to avoid any nasty surprises later.  

Mortgage Rates For Home Buyers

This section is very important if you are a first-time home buyer and looking for new homes for sale in the Denver area. Fix the financial side before residential moving to Denver and buying a home. 

Most home buyers prefer to pay a small down payment but that will only benefit the lender and cost you thousands of dollars in the long run.

So, what are the types of mortgages that you can choose from?

• Adjustable-Rate Mortgage (ARM): To start with, ARMs have a lower interest rate initially than other forms of mortgages. Later, the rates start to rise leading to higher mortgage payments.
• Federal Housing Administration (FHA) loans: If you have a low credit score, FHA loans with a 3.5% down payment might look attractive to you. But then you have to pay upfront, a mortgage insurance premium of 1.75%, an annual premium of 0.15%, and an extra 0.75% during the tenure of the loan. All these can add up to substantial sums in the long run.
• Veteran Affairs (VA) loans: Veterans have the chance to buy a home at zero down payment. However, there is a fee of 3.3% of the cost of the house and the interest rates are quite high.
• Down Payment Assistance (DPA) loans: There are many cities and states in the USA that offer low-or-no-interest loans. The downside is that you will be stuck with a house that you can hardly afford and one that has little or no equity. It makes selling a home very difficult later. 

All these types of mortgages have some drawbacks or the other. Then, what should be the ideal mortgage if you are looking for new townhomes in Denver or any other type of home?  

The best option for you is the 15-year fixed-rate conventional loan. This loan is amortized over 15 years with fixed interest rates and monthly payments during its tenure. Your monthly payments might be a bit higher than a 30-year amortized loan with similar features but you pay off and free your home from mortgage much faster.

Summing up, if you are relocating to Denver, Colorado, and need expert, get in touch with us at Just Living Reality now!