Denver Housing & Realestate

The Home Builders Association (HBA) of Metro Denver is a good source of information about buying a new home and custom home building. The following information is provided by the organization. For more information, visit www.hbadenver.com.

New and Resale Homes

Broad spectrums of new housing options are available in metro Denver, ranging from executive housing to entry-level homes. Housing costs have stabilized in recent years in metro Denver. Some of the best housing values of any major metropolitan area are offered in metro Denver.

The metro Denver median sales price of single-family homes was $245,400 in 2007, according to the Denver Board of Realtors.

Many communities, employers and organizations in metro Denver provide programs ranging from down payment assistance to community advocacy programs to increase the availability of affordably priced homes. For example, a coalition of metro Denver housing organizations announced the formation of the Home Ownership Transformation (HOT) Initiative. The HOT Initiative will provide counseling and access to low down-payment mortgages.

Your next home can be more than just a great place to live; it can be an outstanding investment as well. Homes generally increase steadily in value and can provide substantial return over time. Unique tax benefits also apply. Both mortgage interest and property taxes remain deductible.

Leveraging is another benefit. A buyer can purchase a home with a cash down payment that is only a small fraction—as little as 10 percent or less—of the total purchase price. However, the return is based on the total value of the property. This is called leveraging an investment.