DIYbanter - View Single Post - Putting and Offer on Townhome in Booming Area

Rick Blaine

wrote:

I have been looking around to buy a place in the Highlands area
(Denver, CO) for the past few months. I plan to put an offer down on a
place in the next day or two but had a question for the experts. There
is so much new residential construction going on in the area. I'm not
sure what to make of it. I've been looking in the townhome market and
there are quite a few planned townhomes going in and hundreds of condo
units going up. On one hand, I see the surrounding property value
increasing but on the other, I'm concerned about resale 2-5 years from
now with all of the new places going in. Just wondering what the take
was on the Highlands (specifically E. Highlands) and if it is a good
investment to buy new construction where so much new has already gone
up and much more is planned.

The only time a condo/townhome purchase makes financial sense is when the
housing market is hot or when you can buy for an extraordinarily low amount.
While Denver isn't the worst RE market right now, I would think there are far
better deals to be had on new entry level single family construction.