Making the decision to invest in a condo can be a big financial and investment decision for the future. With home prices in Denver expected to increase over the next twelve months, it's important to consider if buying a condo is the right move for you. Owning a condo can be a very lucrative investment and requires little maintenance, but there are several factors to consider before making your purchase. The Department of the Interior has offices in or near the Denver metropolitan area, and the city has been one of the best-performing markets in the country.
Rents in Denver have increased significantly by 8.8% compared to the same time last year, and real estate has appreciated by 105.82% over the past ten years. This is equivalent to an annual real estate appreciation of 9.46%, which places Denver among the highest 10% nationally in terms of real estate appreciation. Any single-family home in the Denver housing market could be considered a good rental property due to the rapid rise in home prices. The monthly supply of inventory in the Denver metropolitan housing market remains low compared to the excess of buyers, and demand for rental properties increases during May and June as many college graduates move to the area in search of job opportunities. Denver is home to several large corporations in the center of the United States, and it's also home to attractions such as the Denver Zoo and Botanical Gardens. The city is surrounded by national forests and Rocky Mountain Park, which prevents it from expanding further.
All these factors make investing in condos in Denver an attractive option. When determining if condominiums are a good real estate investment, it's important to choose a condo that is properly maintained by the HOA and within a city that has a good housing market. Investing in rental properties near universities can also be beneficial, as you could rent or sell to people who simply want to live in the area if student demand decreases.