Apartments For Rent

Three Questions To Ask Before Getting Your First Apartment

Renting your first apartment is a big deal. It is exciting to finally move out on your own, away from your parents. However, it is also a big responsibility. You have to make sure that you are ready to live on your own.

Here are some things to think about when you are starting to look at apartments.

How much can you afford? Not only do you have to worry about the monthly rental fee, you have to think about electricity, water, sewer, and more. Sometimes that is included but it does not have to be. Then, you have to think about groceries, your car, and other expenses. Can you afford to move out?

Do you have a steady job? Have you had the same job for several months? Do you plan on staying there? Are you really happy working there?

Do you like where you live? Many rentals require you to sign a lease for at least a year. Are you content to live in the same area for the next year or even more?

Renting your first apartment can be exciting and scary at the same time. However, you need to be sure that you can afford one. Don’t overspend on an apartment because you forgot about all of your other expenses.

You have to remember that you may have to pay for electricity, water, and other things. Those expenses are not always included in your rent. Also, don’t forget about your car payments, groceries, and other expenses.

Then, make sure that you are happy with the apartment because you will probably have to sign a yearly lease.

Rentals buy time in seller’s market

Sometimes it makes sense to purchase a home rather than rent. When you own a home, you get a sizable tax break and you have a good chance of your property gaining value and offering you a return on your investment over time.

However, right now in Colorado, it may be a good time to consider rentals. Housing prices in Colorado have skyrocketed in the last six months. This is great news for homeowners who were trying to wait out the downturn of the early 2000s. Property values are now as high as they have been in a decade.

Unfortunately this may not be welcome news for people looking to enter the housing market in Colorado for the first time. When home values raise this quickly, it takes time to know if the demand for housing will continue at this rate, stabilizing or even raising housing prices, or if prices will settle back down by winter, when home prices tend to decrease a little naturally.

Rental prices follow the housing market, so they are high now as well, but it might be prudent to spend a year in a rental as you watch the housing market to see if these higher prices are here to stay, or if there will be bargains to be found in the next six to twelve months.

Living in a rental gives you the time you need to analyze the housing market and purchase at the perfect time

Only time will tell whether the high prices now are a small bubble of inflated prices that will burst, or a new trend that will continue to rise. Colorado will always be a great place to own property, but timing is everything when you enter a housing market with this much demand. Living in a rental gives you the time you need to analyze the housing market and purchase at the perfect time

 

Colorado Rentals                   Boulder Rentals

 

Read more about the Boulder Rental Market

Read more about the Boulder Real Estate Market    

 

 

Family Member Hospitalized Away from Home? Consider Corporate Housing

In the fast paced world of specialized medical care it is within the realm of possibility for a family to have to seek or find themselves being treated for a medical condition far from home.  There is nothing more stressful than having to deal with the traumatic illness or injury of a family member, especially one that takes you away from home because of the care needed at a specialized hospital, trauma center or rehabilitation center.  Spending weeks away from home is stressful enough without also living out of a suitcase in some impersonal hotel room.

In a situation like this there is another alternative for short-term residency;  you might want to consider Corporate Housing as an option.  Corporate apartments or suites are fully furnished, including kitchen ware, and offer all the comforts of home in a city away from home.  Corporate units are well maintained and provide more privacy and space than a hotel room.

If you are one of those people who prefers a more homey atmosphere, and more privacy when you are away from home, corporate housing in this situation will meet your needs.  Corporate housing also offers you a respite from the hectic pace of the hospital.  Your safety, security and peace of mind are available and your insurance company will reimburse the cost of the stay; check your policy.

Before you consider spending weeks living in a hotel room while your family member is in the hospital or rehabilitation, look into corporate housing as an alternative.  Alleviating the stress on yourself during your family member’s stay away from home will assist in their recovery.

 

Boulder Corporate Housing                     Broomfield Corporate Housing

Colorado Real Estate Market

Buying A Home In Colorado’s Red-Hot Real Estate Market

Are you considering buying a home in Colorado? If so, you’ll want to act fast. Colorado has one of the hottest housing markets in the country. A growing job market, coupled with other factors, such as low numbers of new homes being built, have made the state’s real estate market go red-hot.

For instance, in Denver, home prices are up 11 percent since last year, according to data from Live Urban. Meanwhile, the number of homes available, however, has dropped 15 percent. What does that mean for a prospective buyer? Good credit and available funds may not be enough to get you into the home you want.

Here are a few things to expect:

Rising Prices

Prices are climbing quickly throughout the state, and this isn’t expected to slow down any time soon. What that means for buyers is that waiting can prove costly.

Fast Sales

Are you debating on a home you recently viewed? Don’t wait too long, or the house may no longer be available. Some houses are selling after just days on the market.

Bidding Wars

With Colorado’s current market conditions, demand for houses is very high, but the number of available houses is very low. This translates into heavy competition for sellers. If you’re looking for a home, that means you’ll need to be prepared to face bidding wars.

Pre-Approval

With a red-hot market, you’ll want to get pre-approved for a mortgage before you even view a home. You may have to make an offer on the spot, and if so, you’ll want to be sure that you are ready and able to complete the purchase. Otherwise, there’s a good chance that a home will sell to another buyer while you’re going through the approval process.

When beginning your search for homes in Colorado you will want to be prepared for this market.  In addition to these tips, the real estate agents here at Housing Helpers are tapped into this fast paced market on a daily basis.  Utilize our experience and expertise to help guide you through this challenging real estate market.

 

Colorado Real Estate Agents

 

 

Can Millennials Afford Homes in Denver Boulder

Can Millennials Afford Homes in Denver?

Rents are climbing in most major cities across the country, driving more folks to consider buying homes sooner than their initial plans. By purchasing a property, renters begin investing their monthly payments into the equity of their homes rather than losing that money each month.

The widely-accepted housing affordability guideline is to spend no more than 30 percent of your income. Currently, renters pay 30.1 percent of their incomes on rent each month, while homeowners pay just 15.3 percent on their mortgage payments. In Denver, those values are even costlier.

Denver renters pay 33.4 percent of their incomes and homeowners pay 19.8 percent each month. In fact, rents in Denver are up 10.6 percent in the last year.

Clearly, buying is the better financial option for monthly savings, but owning a home costs more than the monthly payment. Buyers need to prepare for the down payment, closing costs, property taxes, homeowners insurance and annual maintenance costs. Homeownership is expensive, but it’s still the American dream and many millennial-aged folks are beginning to consider the transition to avoid rising rents. But, can they afford it?

Millennials are between the ages of 23 and 34 years old and are generally some of the lower earners nationwide because of their youth. Unfortunately, incomes have not kept up with rising home values in the real estate market. Since 2000, incomes only rose 15 percent among the lowest third of U.S. workers. Meanwhile, home values appreciated 41 percent. From that perspective, low-earners would be strapped to find affordable inventory. However, the facts prove that millennials can afford much of the available inventory.

The median income of millennials in Denver is $56,843. Assuming these millennials could afford a 5 percent down payment and spend 30 percent of their monthly income toward a mortgage payment with a 3.98 interest rate, then Denver-based millennials could afford nearly half of the homes on the market. The potential price of homes they could purchase would be $313,299, freeing up 46.3 percent of the inventory. Zillow found the total number of for-sale listings at that price point going back to 2010; of all 6,577 listings in Denver, a millennial could afford to buy 3,045 of the properties.

Although affording half of the market seems reasonable for a lower-earning group, it’s well below the national affordability rate of 69.7 percent. Across the country, millennials can afford far more of the for-sale market, but their median income is lower at $49,176, and their purchase price is less too ($271,041).

Denver is a hot sellers’ market for 2015, ranked third in fact. Buyers battle for inventory and sellers can get away with steep prices because the inventory is low compared to the demand.

And the demand doesn’t seem to be calming anytime soon. According to the Zillow Housing Confidence Index survey, 19 percent of 18- to 34-year-old renters plan to buy in the next year. The survey indicates 29,000 millennial buyers will emerge in the Denver market within the year.

If renting is becoming too pricey in the Denver area and you’re considering buying instead, review the for-sale listings and keep the 30 percent guideline in mind. First-time buyers with good credit can offer 5 percent or even 3 percent down to ease the upfront costs of financing a home purchase – some loan options even allow zero down.

Start shopping now to get an idea of the inventory and value before bidding in the competitive Denver market.

This post courtesy of Tali Wee of Zillow

 

 

Denver Real Estate Agents                 Colorado Homes For Sale

Boulder Rental Market, Housing Helpers of Colorado

Top Reasons Boulder Rentals Remain Hot

Boulder rental properties have always been popular, including the surrounding area of Boulder County.  During the economic turmoil of the last decade, many people lost their homes to foreclosure and were forced to rent. This pushed thousands of homeowners in to the rental market.

However, as the real estate market has recovered rentals are still in high demand.  In fact rentals in Boulder County are in more demand than ever.  Here are a few reasons why:

The 2013 Floods

The floods that swept through 17 counties in the fall of 2013 damaged or destroyed over 20,000 homes, many of those in Boulder County.  That devastation forced many long time Boulder area home owners into the rental market.  A good percentage of those homeowners remain in the rental market as they were unable or unwilling to rebuild.

The Department of Local Affairs Division of Housing working with the Colorado Housing and Finance Authority has announced over $30 million in federal and state funding that will be used to assist more than 950 people who are still seeking permanent housing after the flood.  As a result 1,035 new affordable rental units will be constructed in several communities including Longmont, Louisville, Fort Collins and others.

Population Growth

Census estimates show a population growth in Boulder County of 6.4% since 2010. Colorado as a whole is at 6.5%. Those may not sound like big numbers. However, to put that in perspective, only 3 states, plus the District of Columbia, grew more during that same period. New residents are more likely to find rentals than to purchase a home before getting to know the area.

Front Range Real Estate Bubble

The real estate market in Colorado as a whole is active and vibrant. There is a shortage of affordable houses on the market even for qualified buyers. The Boulder area, especially, has been experiencing activity not seen in years.

There is a shortage of homes and available houses are being sold at higher prices, many above appraised value. Driving the property values up leaves many otherwise qualified buyers moving to rentals until prices come back down to Earth.
People from across the country are being attracted to the Boulder area for many reasons. The existing residents are sticking around, despite recent hardships.  And as we look ahead to the summer of 2015, there is no indication that the Boulder rental market will be slowing down anytime soon.

 

Corporate Housing by Housing Helpers of Colorado

Moving To Colorado? Try Before You Buy With Corporate Housing

Whether you’re moving to Colorado because of a career change, promotion or you’re starting your own business, finding the right place to call home is imperative. In order to do that, you truly have to spend time in the area, getting to know the lay of the land.

Although you could choose to stay in a hotel that offers extended stay, you’ll often spend more and get less than you expect. On the other hand, corporate housing offers you all the comforts and convenience of home for reasonable rates.

Corporate Housing Includes The Conveniences and Comforts of Home

One of the best features of corporate housing is the fact that the home is fully furnished and decorated with professionals in mind. You can even upgrade the furniture so the space will feel like it’s yours by reflecting your personal taste and sense of style.

You won’t have to worry about shipping your own items or running out to purchase housewares to use temporarily. Just bring your clothing and personal items and move right in. Everything you need, from cookware, dishes and cleaning supplies to bed linens and towels for the bathroom is provided for you. When you are ready to move into your new home, you won’t have to worry about packing everything and moving it.

Corporate Housing Offers More Choice Of Locations

There’s nothing more frustrating than an excessively long commute through a new city. It’s easy to get lost, and it’s inconvenient, to say the least. Convenience is a major factor in any housing decision, and temporary housing is certainly no different. Take stock of what really matters to you, in terms of where you live and choose accordingly. Whether it’s important that you are close to your job, shopping, schools or entertainment, corporate housing is the answer. You’ll quickly become acquainted with the area which gives you the opportunity to scout out potential new homes.

Corporate Housing can be located in many different locations, not just where you find hotels and extended stays  – but also in residential neighborhoods, closer to schools, parks, trails, and other important factors to maintain your normal lifestyle.  With Corporate Housing will also be able to really get a feel for living in the neighborhoods where you might eventually purchase a home.

Corporate Housing Rates Are Typically More Affordable Than Hotels

Extended stays at a hotel can be very pricey, even for corporate customers. And, what you really get for the money cannot compare to what corporate housing offers. You won’t be stuck in a suite that’s too small for you and your family to function in properly.

In fact, most corporate housing is very spacious in comparison to a hotel room, providing as much as 75% more room. What’s more, you won’t get a separate bill for the internet connection, cable TV, local telephone and other utilities, they are included in the monthly rate. You can rest easy knowing that your corporate budget will remain intact.  Many business travelers that are new to corporate housing are surprised at the cost savings from renting a corporate apartment by the month compared to the cost of an extended stay hotel room for a month.   Often times the savings is significant.

If you’re interested in corporate housing in Boulder, Broomfield, Denver, Colorado, or anywhere on the Front Range, contact Housing Helpers for more information 303.545.6000. We’re experts at matching people and homes and we’ll be more than happy to assist you in finding the right temporary location for you or your employees.

Corporate Housing

More Money Budgeted to Promote Tourism in Colorado

Tourism is big business for Colorado. However, according to Gov. John Hickenlooper, as quoted in a recent article from the Denver Post, tourism is also an industry, and like any other industry, it requires maintaining and growing your investments.

This year, the state legislature’s Joint Budget Committee approved an increase in the tourism promotion budget to $19 million — up from $17 million last year. It’s the most money budgeted for tourism since 2006, the year that the state’s tourism office was created.

It seems like a lot of money until you see the amount that tourism pours into the state. 2013 — the most recent year for which data has been compiled — set records, with 64.6 million people visiting the state and spending $17.3 billion, the article stated. According to the state tourism office, the 2013 tourism ad campaign provided $344 in travel spending for every $1 invested. It was a sharp increase from the $228 per every dollar invested the year before.

The tourism office gets $15 million a year from gaming taxes in order to promote tourism in the state. This year, they requested an extra $5 million in order to bolster their ad campaign, promote international travel, and support their agritourism initiative.

Although there was some question as to whether or not increasing the budget in recent years was the catalyst for increased tourism or if it was simply a sign of an improving economy, the committee approved the request. One representative said that tourism is one of the easiest budget items to identify.

If you love Colorado, why just be a visitor here? This is a state rich in economic opportunities that allow you the chance to live and work here. Housing Helpers is ready to assist you in finding the perfect Colorado home for yourself and your family. For more information about Colorado Real Estate, Rentals, Corporate Housing, or Relocation Services, contact us.

Colorado Relocation Services      Colorado Real Estate Agents

Millennial Impact on the Real Estate Market

As the years pass a new generation of home buyers rise. Yes, members of the millennial generation have been buying houses for several years now, but now the vast majority of the generation has hit their 20’s, and so the number of home buyers will increase dramatically.

Lucy Mueller shares the words of Nela Richardson, the chief economist for Redfin, in her article “Why Millennials Are Better At Home Buying Than You”:

“Millennials will have a huge impact on the housing market for the next decade, just because of demographics alone. So whatever a few of them do, there’s enough of them that they’ll make a big impact.”

With this rising generation of home buyers, a change in the home buying dynamics is inevitable. This includes the relationship between buyers and their real estate agents and realtors.

Generation of the Techies

The millennial generation is technologically savvy and it shows in their house buying. This generation prefers text messaging and emails to phone calls and face to face interactions, and considers the internet an all-knowing source. This generation of buyers will undoubtedly do the bulk of their shopping via online Realtor websites, perusing inside and outside photos before ever setting up an appointment with an agent to see the house.

Generation of the Housing Crash

This generation also watched the housing market crash and the economy fall. A trust has been lost or at the very least shaken, particularly with financial lending institutions. Alan J. Heavens shares in his article “On the House: Millennial buyers are few, dependent on Realtors”:

ClosingCorp of San Diego, which provides residential real estate closing-cost data and technology for the mortgage and real estate services industries, found in a survey that two-thirds of the 1,000 millennials it surveyed were unaware that closing costs were involved in buying a house. If a millennial does know anything about closing costs, he or she finds out by talking to a real estate agent rather than a lender, the survey showed.

The millennial generation is looking more to real estate agents and realtors than previous generations for knowledge of the ins and outs of house buying.

The next decade will see what other changes may take place as the millennial’s flood the housing market with buying their first and second home

Real Estate Agents          Homes For Sale in Colorado

Apartments For Rent Boulder Colorado

Three Things Parents Should Consider When Searching Apartments For Rent

Finding a great apartment to rent that you and your family will love can be a daunting task. Affordability may well be the first consideration, however, it is certainly not the only thing to think about. When looking at apartments, you have to look beyond price and consider some other factors that will have a dramatic effect on your family’s quality of life.

Adequate Interior Space

No matter how close your family is, living in a crowded apartment puts a strain on your relationships. Whether your children are toddlers or teenagers, it’s vital that you all have enough personal space and privacy.   Of course, you also want enough room to gather the family so that you can spend valuable time together. In addition, consider the amount of storage space for items such as, clothing, toys and household goods.

Apartment Amenities

While many adults long for a gourmet kitchen and garden tub, what’s important to children is much different. Apartment complexes that have fenced in courtyards and play areas should be at the top of your list. Be sure to spend time inspecting the equipment and yard to be sure that it is well-maintained and safe for use.

A swimming pool is also a great amenity for kids, as long as it is secure so that children cannot enter on their own. Finally, ask about on-site laundry facilities. Your kids are going to get dirty and make messes and this little amenity will make your life, and theirs much more pleasant.

Apartment Location Is Key

Every family has their own list of things that they want, or need, to be close to. Living a short distance from your job or children’s school may well be on the top of your list of necessities. Easy access to local parks, playgrounds, and family-friendly entertainment options might also make it to your list of things to consider. For some, an apartment that is close to grocery stores and other retail establishments fits the bill. Make your own list and search for places that suit your needs the best.

If you’re looking for an apartment that you and your family will be proud to call home, please contact Housing Helpers free apartment finder service. We’ll be happy to assist you in finding an apartment for rent that’s close to everything you need, including shopping, schools and entertainment.

Call us at 303.545.6000 or boulderinfo@housinghelpers.com

Colorado Apartments               Boulder Apartments For Rent