Boulder Creek Neighborhoods sees upside to making a downsized move.
LOUISVILLE – It’s easy to think of a “downsizer” as someone who simply wants a smaller house, but those who are considering this type of move recognize that there’s a lot more to it than just less square footage.
Downsizers are motivated to find a home with a floorplan that works for both their current and future needs. They are moving out of the large family home with a lot of square footage that also has a large yard requiring significant maintenance. The home may have been built 20, 30 or even 50 or more years ago – meaning they can’t take advantage of the energy efficiency of homes built with today’s modern construction techniques. Often, there’s extensive regular upkeep required on the home, and in worst-case scenarios – the home may need a new roof, new plumbing, and new paint or siding.
When the time comes to downsize, home shoppers are surprised to find that award-winning homebuilder Boulder Creek Neighborhoods offers homes that have been built with their needs in mind. The Louisville-based homebuilder is known for its low-maintenance neighborhoods throughout Boulder County, where outdoor maintenance chores are managed on the homeowner’s behalf. Many Boulder Creek neighborhoods also specialize in ranch-style patio homes, offering main-floor (and sometimes even zero-step) living.
However, finding the right floor plan in the right community is only a portion of the downsizing decision. Trevor Bellows is vice president at First Creek Lending, a mortgage lender based in Old Town Louisville. He points out that downsizing can be a smart move for many buyers. “The total cost of home ownership can be an obvious benefit, but there is certainly a lifestyle component too,” says Bellows. “I encourage buyers to consider utility bills, furniture costs, and the overall cost of the ‘stuff’ needed for a larger home.”
Bellows also points out that the purchase of a new home has some unique advantages. “Rather than getting into a bidding war on a resale home, and then having to remodel it to create your dream home, a new home makes that much easier. You can create your dream home by selecting all the finishes that you’ve always wanted right from the get-go.” He also mentions the timeline involved in the process: “a resale home purchase can be very quick, usually 30 to 45 days from offer until close. The new-build process is often quite a bit longer, which can reduce stress significantly by allowing buyers to take their time.”
When asked if the current market in Colorado makes it a good time to buy a home, Bellows is emphatic, “Yes! There is no such thing as a bad time to buy a home in Colorado.” His passion makes clear that despite a recent jump in interest rates, the time to buy a home is now.
The recent increase in rates can be primarily attributed to the overall health of the current economy. As the stock market stays strong, the economy continues to add jobs, and unemployment stays low, Bellows feels confident that the economy is stable. He adds, “If economic predictions come to fruition, we’ll probably see the 30-year fixed in the 5% plus range by end of 2018.” Though this is no doubt an increase compared to the historically low interest rates buyers have recently enjoyed, Bellows is quick to provide some perspective. “Over its lifetime, the 30-year fixed mortgage has averaged around 8.4%,” he says, mentioning many buyers remember the days of the early 1980s with interest rates in the 17% to 18% range.
Part of the reason downsizers find a new Boulder Creek home appealing is that there are possible savings on the table, despite a slightly higher interest rate. New homes tend to require less costly maintenance than a home built 30, 20, or even just 10 years ago. Big projects on older homes like replacing plumbing and new roofs can quickly eat away at savings meant for travel. New homes are built to meet more stringent energy codes than those in years past. Boulder Creek recognizes the importance of both durability and efficiency to the downsizing buyer, and selects construction materials and techniques to meet these demands – including roofing materials, siding, insulation, and even foundations and other concrete work. There is a certain peace of mind that comes with owning a new home that is simply impossible to find with an aging resale home.
Homes designed around easy living are popular for the downsizing demographic. Features like main-floor bedrooms and main-floor laundry rooms are very popular, and are available in many Boulder Creek neighborhoods. The neighborhood Lifestyle Association takes care of many outdoor maintenance chores, including snow shoveling and lawn mowing. Finally, those hours spent on backbreaking chores can be spent on more leisurely pursuits.
Current Boulder Creek homeowners are often quick to mention that their new home has allowed them the chance to live their dream lifestyle. Not only are they saving time and energy on mowing grass and shoveling snow, but they also recognize that they are saving money as well through a smaller, more efficient home – freeing up resources to allow them to pursue the lifestyle they have always wanted. “The buyers I work with are excited to do more with their time,” says Bellows. “Spending it with friends and family, new hobbies and lifelong passions, travel, skiing, relaxing – you name it.”
Regardless of your free time passions, Bellows is clear on one thing: consulting your options. “I always recommend a conversation,” he says. Whether it’s a chat with the First Creek Lending team, or another financial professional, assessing your individual options as you consider a new home is absolutely the right first step.
If you’re thinking about downsizing out of an aging home and into something designed for your current and future needs, Boulder Creek Neighborhoods is a great place to start. With homes ranging in size from around 900 square feet to over 3200 square feet, downsizers can determine what floorplan and layout are right for them. Prices can range from the low $300s for the upcoming wee-Cottages in Longmont, to over $1 million for The Villas at Calmante in Superior. Ranch Patio homes are also available at Denio West in Longmont from the mid $400s, Brennan by the Lake in Erie from the high $400s, and Tramonto in Southwest Longmont in the $600s.
No matter what home style you are looking for, the Sales Concierge team at Boulder Creek would love to speak with you about your plans to downsize. They can be reached at 303.309.0088. Neighborhood locations, floorplans, and home pricing can be found at LiveBoulderCreek.com. To connect with Trevor Bellows and the team at First Creek Lending, visit FirstCreekLending.com.