As a first time home buyer, you may think you’ve only got a handful of financing options to choose from when selecting your first property. However, there are actually several options to choose
Denver Neighborhoods To Watch
As house hunters in Denver will attest, affordability is a very real issue in established areas like the Highlands or Washington Park. And areas that were once up and coming, such as Baker, Berkeley, and Sloan's Lake, seemed to have finally arrived. However, there are a few areas in the Mile High City that, while still somewhat gritty in parts, are beginning to transform and maintain a sense of affordability. Here we’ll give you a rundown of areas to consider as you search for your perfect home in the area.
Neighborhood: West Colfax
West Colfax is bustling, but a bit rundown and dated. The upside here is the emergence of artistic revitalization.
What’s changing here:
Community investment in projects like a redesign of the dangerous interchange at West Colfax Avenue and Federal Boulevard
Spillover development from the amenity boom in adjacent Sloan’s Lake
What you’ll want to look for: Recently constructed townhomes starting in the $400,000s
Neighborhood: Sun Valley
In this area, industrial lots coexist mainly with public housing, and the area is isolated from most city amenities by waterways and poorly planned thoroughfares.
What’s changing here:
A $376 million public housing redevelopment plan that will raze 333 subsidized housing units and replace them with 750 new mixed-income units, including moderate-income and market-rate homes, by the end of 2024
A master plan to overhaul the parking lots surrounding Broncos Stadium at Mile High into a walkable urban entertainment district
The ambitious, estimated 20-year RiverMile project that would create a bustling waterfront enclave along the South Platte River
What to look for: New-build multifamily residences. Note that prices here are TBD as Sun Valley is an untested market for new construction.
Currently, factories, rail yards, and the interstate serve as less than desirable backdrops for single-family homes. But change is coming.
The $1 billion National Western Stock Show Complex overhaul, projected to draw more than two million visitors annually after construction is completed in 2024
The $1.2 billion Central 70 Project
What to look for: Condos and townhomes in the $400,000 to $450,000 range, with improved roads and a cleaned-up South Platte River zone.
If you’re interested in checking out some of these promising areas, now could be a great time. Give Metrowest a shout today – we’d love to show you around!
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