BOULDER – There are plenty of reasons why you would want to downsize your home. Perhaps the kids have all moved out, you’re retiring, or you just want a smaller residence that requires less upkeep. However, just because you are transitioning homes doesn’t mean you have to leave behind the charms of our city and give up valuable amenities. Here are some tips for downsizing without sacrificing luxury in Boulder.
As the housing market in Boulder becomes more competitive, the definition of luxury is changing. Walkability, which was once overlooked as a “nice to have” feature, is now considered a new form of luxury and is in high demand. When choosing your new home, keeping the neighborhood’s walkability score in mind will pay off in terms of increasing your property’s value.
With this in mind, city centers in Boulder have changed over the years to reflect the new value placed on having walkable amenities nearby. New communities have popped up in north, south, and central Boulder, each with their own set of convenient, walkable businesses, residences, and recreational areas. For example, the neighborhoods from Dakota Ridge to Shannahan Ridge along Broadway have exploded with new businesses and activity, allowing folks in those areas to walk to their choice of fine dining, organic grocery stores, and boutique shops. As a result, some of our city’s highest-valued properties surround these areas.
Downtown Boulder’s historic homes are beautiful, but aren’t always as spacious as what you’ll find in other parts of Boulder. Developers have taken to renovating them into modern smart homes; the homes located between 18th and 25th on Walnut Street are a perfect example. Now that you no longer need as much space, consider an older home that has been gutted and renovated with the high-end finishes you’re looking for.
Boulder today is very different from the Boulder 20 years ago. Two decades ago, activity on the Pearl Street Mall and around town ebbed and flowed with the school semesters. Now, tourists come to Boulder year-round, and you’ll see visitors on Pearl Street any time of every day. This means that your downtown residence will always be close to the heart of the action.
Look (slightly) outside the city
If you can’t find what you’re looking for in Boulder, looking just outside the city limits may yield your perfect home. Don’t be afraid to gut a home outside of the city to get what you want. Surrounding cities like Niwot, Gunbarrel and Louisville offer their own walkable communities, downtown areas, and gorgeous homes, to boot. For example, Goldbranch Estates, our new development listing in Niwot; we are giving them a complete makeover that will have buyers lined up to buy.
The Boulder market is unlike any other market in the U.S., and the city’s skyrocketing property appreciation is changing our perception of luxury real estate. The best part is, prices are continuing to rise – Boulder has been identified as the most stable market in the country for maintaining property values, according to data from the Federal Housing Finance Agency. The FHFA also reported that while the average American home gains three to five percent in value annually, Boulder County home prices grew 13.52 percent last year. You can always buy with confidence in Boulder County. Regardless of size, your home will likely still gain more value than a similar home in any other area of the country.
Jennifer Egbert is an award-winning, top-producing Realtor with more than eleven years of experience. She is a licensed residential agent that specializes in the Boulder market. She is an expert in Boulder Luxury neighborhoods, home builders and most current market conditions. To learn more about the Boulder real estate market, visit jenniferegbert.com, follow her on Twitter and Facebook or call 303.442.3180.
By Jennifer Egbert, RE/MAX Alliance