It's a question that was posed in an article in the New York Times this past weekend but it sparked us to discuss why so many people are choosing a Downtown Denver condo or loft residence over a home the in 'burbs.
The article is an interesting read. It is about a couple debating the annual costs between living in condo in Manhattan or a home in the 'burbs. The main draw for the city address is the lifestyle. The main draw for the home in the 'burbs is the square footage and the yard. The more expensive option... believe it or not it was the house in the 'burbs. The reason was tied to car and transportation costs, more utilities and maintenance, and the property taxes and other financial terms for the home.
In reading the article a few things about Denver stood out. Downtown Denver condo and loft residents don't have to make this drastic of a choice. Our downtown, which offers all the great benefits of lifestyle, restaurants, arts, events, and culture also offers us green space. I love Manhattan. It's a fabulous city and unlike any other in the world. But it's also a much bigger city than Denver and while Central Park is beautiful but there is definitely a shortage of open spaces. How lucky are we in Denver. We have ton's of downtown parks, open spaces, bike paths, and water ways throughout our downtown. We have areas like the Highlands, Ball Park, Capitol Hill, Uptown, Cheesman Park, Golden Triangle, Lohi, Sloans Lake and more where you can have the house with a yard AND be downtown for a fraction of the cost of Manhattan. You can live in a high rise condo downtown like SPIRE or Glass House or a home with a yard in the highlands and still have the same car optional lifestyle.
The article is an interesting read. If nothing else we should always look to larger cities to learn from their strengths and weaknesses as Denver continues to grow. Denver is a growing city. People love our city, our restaurants, our mountain back yard, and of course our sunny and beautiful weather. As a result people and businesses keep moving here.. and we are growing. I would be remiss not to mention that many of our clients also point out how affordable Downtown Denver living is compared to the cities they come from and with a better lifestyle. We feel fortunate.
As fuel prices continue to rise the cost difference discussed in the article for auto fuel and utilities is likely to make the financial benefit of a downtown Denver address a growing value over the 'burbs as time goes on. So if you can have the better lifestyle, the high-rise OR the house with the yard, and the better financial option why not make your home in Downtown Denver. It's a good question to ask yourself.
To learn more about Denver condo and loft residencies (high-rise or home with a yard) just give New Era Realty a call at 303.991.9878 or 800.392.1950 to learn more or to schedule a tour.