Denver Housing Costs – The Problem
Very simply put it is easy economics: Denver housing costs are determined by the large amount of demand with the small amount of supply. As I mentioned in a previous post the average sale price for homes in Denver is around $400,000. The impact this is having is to drive many buyers out and away from the Mile High City.
When these buyers look at new homes a big deciding factor is proximity to parks and playgrounds, schools and workplaces.
As an architect it has been great to see cranes in the sky. Watching the structural skeletons of buildings go up is exciting. Denver construction has increased over the last 24 months. And doesn’t appear to be slowing. Particularly in the commercial and non-residential markets. This results in a construction inflation. It is advancing faster than and well ahead of consumer inflation. This has a direct affect on contractors. More importantly it has an effect on clients and their projects.
I recently wrote a post about building a new home vs. buying an existing one. Another reason to consider that as an option is the current Denver housing trend.
Denver Housing Trends
The first few months of 2016 have been a bit of a roller coaster ride for the real estate market. This has resulted in wild swings in the number of houses sold.
Build New vs Buy Existing
Build new? Maybe.
Many home buyers are considering it.
With the current real estate market in Denver, Colorado it may make sense. As the owner of GMH By Design, a residential architecture practice, it’s been my experience that building new vs. buying an existing home has some clear advantages.
Here are 7 reasons to build new instead of purchasing an existing home.
I know what your thinking…all architects consult. As a licensed Colorado Architect and founder of GMH By Design I happen to be one.
A consulting architect is a design professional. One who owns their own architecture firm or may work for a multidisciplinary firm. Consulting architects go to clients and provide services they deem the client needs.
I propose a re-definition for the term