Skip to content Sitemap

The Pros and Cons of Buying and Renting

Buying and renting are both viable ways to live.

Deciding which is best for you is a big decision.

Here are a few tips to consider when looking into the bigger picture of your lifestyle and financial choices when it comes to your living arrangements.

buy, buying, rent, renting, Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

Pros of Buying A Home

Tax benefits

There are many pros to buying a home, but perhaps none are bigger than the tax benefits. Tax breaks, a tax concession or advantage allowed by the government, can be rewarding to homeowners. These can include lucrative benefits, such as the property tax deduction and mortgage interest deduction. In fact, homeowners can deduct interest expenses on up to $750,000 of mortgage debt from their income taxes.

Equity

One of the biggest advantages of buying a home is purely building equity. Home equity is the current market value of your home, minus what’s still left on your mortgage. It’s an asset that comes from a homeowner’s interest in a home. 

Security & stability

Unlike renting, homeownership gives you a sense of security as long as your mortgage is continually paid. You become your own landlord without the uncertainty of lease renewals and price increases. This particular pro is helpful to people with children who want to stay within school districts, those who like stability within their neighborhood or professionals who live near their work. Purchasing a home can help dodge any undesired disruption to your way of life.  Best of all, owning a house means making your own rules. Barring any city or HOA policies, you have freedom when it comes to home improvements, pets, company and guests, and renting out the space.

CONS: 

Cost

Ownership of a home comes at a large cost. Before taking the plunge, it’s important to fully grasp what this means. Not only will you need to make a down payment, but you should also consider property taxes, private mortgage insurance), homeowners insurance, and maintenance and repair costs.

Risk

Your biggest risk will be the hefty amount for the down payment. For example, imagine putting down $30,000 to purchase your property, and over the lifetime of your 30-year mortgage, the value of the home doesn’t increase. Your return, in this instance, would be nothing. While this does not take into account financial benefits such as the money you saved on taxes, it is a large investment to make nonetheless.

One of the biggest risks is the unknown. What if, for reasons out of your control, you are forced to quickly move and sell your home? Depending on the timeline between the purchase and your move, you might not earn back your closing costs even if you sell for the exact same price for which you bought.

Further cost risks include damage to the home itself such as foundation issues or the need for large repairs. It’s a good practice to have an emergency fund in place to offset these costs.

I know whatever you choose – buying or renting, it will be perfect for you. If you are unsure, Picket Fence Properties can find you a place to be while you decide.

All my best,

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

 

Colorado Real Estate Trends and Predictions

real estate trends and predictions, real estate, trends, predictions, Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

Colorado Real Estate – it is a beautiful place to live! What are the trends and predictions?

While it is no longer a surprise that Colorado and much of the nation are experiencing improved employment rates, a growing economy, and a healthy real estate market- what is surprising are the oftentimes fluctuating trends that occur in real estate.

Each year, Realtors attending the National Association of Realtors (NAR) Conference have the privilege of learning about the most current real estate research and analysis to help their clients make informed decisions. A highlight at this year’s conference in Boston was NAR Chief Economist and Senior VP of Research Dr. Lawrence Yun’s annual report presentation and predictions for the year ahead.

Dr. Yun reported that nationwide in 2017, we saw the highest number of home sales in a decade. Sales for existing homes and new homes totaled 6.1 million. He called his prediction for the future slightly “boring” with home sales for 2018 predicted to be 6 million homes, increasing to 6.1 million in 2019 and 6.3 million in 2020.

According to Dr. Yun, homeownership is still one of the best wealth creators in America. In the last real estate boom, as prices rose so did the level of mortgage debt. In the boom since 2012, wealth has been created at a much more rapid rate due to lower mortgage debt and the absence of the subprime and greater- than-100-percent financing.

All of this being considered, in 2018 we are still seeing rising prices in 90% of metro markets. Lower price ranges have had stronger price gains, but not as much in the upper price ranges. Notably different have been higher price gains near downtown areas as opposed to suburban areas.

The most common things Colorado buyers are wanting are as follows:

  • Soft, comfortable and contemporary home design, furniture and accessories.
  • Slightly smaller homes and condos is trending
  • Open floor plans including higher ceilings, full walls of windows and fewer hallways
  • A place to retire as Colorado ranks second in the country for retirement.
  • Patio homes that require smaller square footage, simplicity, and the ability to get outside and live healthier lifestyles (but not yard work)

With all this said, keep in mind that all real estate is local, right down to the street. National statistics are very general trends.

The only thing constant in real estate in Colorado is that trends will continue to ebb and flow.

All my best,

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

AirBnB Essentials That You Must Know

AirBnB is very popular all throughout the US.

Though surprisingly, most homeowners do not understand or know how to turn their home into an AirBnb.

Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

Here are some tips for you to turn your home into an AirBnB. If you are renting, make sure you check with your property management company before doing this with your adobe.

  1. Buy a home. Talk to your local realtor about buying a place of your own.
  2. Set up an AirBnB account. It is easy. Visit http://airbnb.com
  3. Make sure you know the details. Provide professional photographs and explain what is for use in the home and what is not.
  4. Set expectations. Describe the area of town you are in and what all of the local accommodations are: restaurants, transportation, coffee shops, things to do, etc.
  5. Price your listing. Look at comparable homes in your area to get a general idea of what they are charge. Pricing it lower than those will usually get your property rented.
  6. Know the law. In Denver, CO a homeowner needs to have short-term rental license in order to host their house as a Airbnb and it also must be your primary place of residence.
  7. Make sure to keep a great response rate.
  8. Rate your guests honestly. This builds know, like and trust amongst the AirBnB community and remember your guests will be able to see these as well.

Check your city for their particular laws.

You can check the Airbnb laws for Boulder or Denver.

Longmont is in the process of updating the Land Development Code (LDC). This update will include short term rentals and city staff is in the process of drafting recommendations for language and options to be included in the LDC. For the most recent update, visit here.

All my best,

 

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

Co-Living Is The New Thing In Real Estate

What is hot is real estate? Co-living is the new buzz.

Co-living is all about communal lifestyle with luxury amenities and it is attracting residents from all around the world. This residential niche is hot in the market place right now.

May people today aren’t paying for a permanent home. People who choose to co-live pay rent for a private bedroom and sometimes a bathroom but share common spaces such as kitchens, living rooms and lounge areas.

Most co-living areas are in big cities. The benefit of this type of living environment is that of instant community and planned social activities. More co-living properties offer temporary leases. This is amazing for those that travel to an area for a short or extended period of time. The plus, you can meet some really cool people.

This seems to be the biggest trend in real estate in the world right now. Real estate developers and companies are also seeing opportunities in this growing movement of how people are living today.

Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

Rent is generally 20 – 25% less than standard rentals.

The bedrooms are general fully furnished and the rent includes all utilities. Renters even get sheets, towels, free internet and sometimes, maid service.

Some companies entice renters with chef-grade kitchens, swimming pools, pool tables, gyms, recording studios, maker’s workshops, computer areas and moving screening rooms.

Sounds amazing!

Sign me up.

This allows flexibility in that people sometimes relocation, transfer sites or just want a change in pace. Some places require a 3-month commitment while others do not.

Self-employed, roaming entrepreneurs want to live a life full of living without paying for sky-high prices. They want to be part of a community and co-living does just that.

All my best,

 

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

It Is Inspection Time!

How often should a Rental Owner or Property Manager Inspect A Rental?

It is a good idea to inspect your properties on a regular basis. If you don’t do it often enough, you may miss some things and could turn into serious problems. You also could risk the rate of not maintaining a solid relationship with your tenants. More communication is better than not enough.

Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, evict, inspection

Your lease agreement should detail about your inspection policy. If you don’t have an inspection policy, that needs to happen immediately. Technically, you can stop by your rental properties at any time you feel like it, but only to inspect the exterior of the property. You can’t just enter the rental premises any time you feel like it to check on a tenant. This can open you up to risk.

 

You need to give your tenant at least 24-hours notice before entering the rental until. THe notice to them should state why and when you intend to be there and what time you will leave. Make sure you are not violating your renters rights by checking with your particular state and local laws. This is also why many owners hire a Property Management Company like, Picket Fence Properties.

 

Here are some great times to inspect your property:

  1. When the tenant moves in – this can also be a move-in inspection
  2. When a tenant is moving out – This is done when they are departing the rental unit so you can determine the final condition under their lease. Renters will take better care of rental units if they know you’ll be inspecting them on a regular basis.
  3. Routine maintenance checks – this helps you maintain the property upkeep and value. It is a great way to keep you tenant satisfied too as it feels like customer service, ensuring that all things are working great for them.
  4. Check for unauthorized tenants – This is common when a family member overstays or when a tenant begins to house a significant other. This is usually an easy fix to change the terms of the lease and how is living in at the property.

 

All my best,

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

 

New Thing: Co-Buyers Bring Big Down Payments

Co-buyers—multiple unmarried buyers listed on the sales deed—are bringing some of the highest down payments to settlement, according to ATTOM Data Solutions’ First Quarter 2018 U.S. Residential Property Loan Origination Report.

homebuyers, Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

The average down payment for homes purchased by co-buyers in the first quarter was $56,911—46 percent higher than the average down payment of $38,915 for homes purchased by other buyers. The average co-buyer brought 15.3 percent of the average sales price to settlement; the average home buyer brought 11.4 percent in the first quarter, according to the analysis.

“Given that median down payments rose more than four times as fast as median home prices over the past year, it’s not surprising that home buyers are increasingly getting help from co-buyers—often in exchange for a share of their home’s future equity,” says Daren Blomquist, senior vice president at ATTOM Data Solutions.

Out of 184 metro areas tracked, the markets with the highest percentage of co-buyers in the first quarter were San Jose, Calif. (48.3%); San Francisco (37.9%); Seattle (27.7%); Honolulu (27.7%); and Miami (27.6%).

“Homeownership rates are still hovering around historic lows—even though lenders continue to offer more low down payment options,” says Michael Micheletti, director of corporate communications at Unison, a firm that provides down payment assistance to buyers in exchange for a share of any future increase in the home’s value. “Letting people borrow more doesn’t make buying a home more accessible or affordable. It’s not surprising that places like Seattle, the Bay Area, and other challenging markets buyers are looking at ways to increase their purchasing power, and reduce the amount of debt they are taking on. The sharing, co-buying and co-owning of a home movement will only grow as more millennials and Gen Z enter the marketplace.”

All my best,

 

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

 

 

Property Management Companies Increase Retention

Today’s rental market owners are finding out that having a professional property management company helps retention.

Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict


Why is this? Let’s face it. We are all busy. Managing our own households can be enough for one person, let alone worrying about properties you own and are leasing.

 

Today’s property managers are finding out that good customer service is no longer cutting it. They expect amazing service. Most individuals fall short of the kind of service needed. This is why property management companies are in business, to ensure that both you as the owner and the tenant are happy.

 

Property manager can find out for certain what the renters want instead of thinking they know what they want. There is a huge difference.

 

The other thing a property manager can usually do better than a busy individual owner is respond very quickly. When there is an issue, tenants want a quick response.

 

When there are problems or issues at hand, this is when emotions generally run high and communication can be missed or sloppy. Let’s not let one minor problem turn into losing a great renter.

 

In today’s world, you must have the communication style that works best for your renters. This means you need to know them. People screen and ignore calls all the time but a text from their property manager may get their attention quickly.

 

Offering stellar service should be one of your main drivers as the owner of a property. We’d love to ensure that your properties are rented and that we retain the great tenants you pick.

 

All my best,

 

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

 

Pros and Cons of Pet Friendly Rentals

Rental owners and property managers have to make some hard decisions to make when it comes to what is allowable in their rentals and what is not.

Deciding to allow or prohibit pets might be one of those tough decisions.

animal, cat, dog, pet, Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

We thought we would help by outlining the pros and cons of running a pet-friendly rental property.

 

Properties that allow pets should expect to attract a wider range of applicants. Most pet owners tent to be more responsible because they are assuming responsibility for their animal. Similar to parents, they ten to lease longer. This might be because there are less places to choose from.

 

Property owners and managers should know the laws of their local state regarding service animals so as to avoid any legal issues.

 

Cons of Allowing Pets

 

Normally people don’t have any problem with the pet owner themselves but it is the pet thay can/may cause problems. Some problems to consider:

  • Dogs may bite, threaten or annoy other residents.
  • Other renters could have serious allergies to pets.
  • Pets can cause odors and make messes.
  • Some insurance companies may raise premiums for some kinds of pets.

 

Pros of Having a Pet Friendly Rental

 

One thing to consider when allowing pets in is that you can offset risk and costs because you have the opportunity to earn more money.

  • Charge extra fees or even non-refundable cleaning deposits to pet owners.
  • Potentially charge higher rent.
  • Increased occupancy rates in some properties that have been difficult to rent.

 

The first thing rental owner and property managers should check on is their insurance premiums. Some insurers will allow most breeds of dogs, cats, fish and birds with minimal or even no additional charge.  You don’t have to allow all kinds of pets. It is also a good idea to require renters to purchase renters insurance to cover their own liability, keep dogs on leashes when they are outside, clean up waste on a timely manner, etc.

 

It is only natural to consider charging an additional pet fee or deposit for cats and gods.

 

Ultimately it is up you as the person in charge of your renters.

 

All my best,

 

Teresa


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.

 

Truth About The Rental Market

It is my job to keep an eye on the market regarding trends in Real Estate in and in the Rental Market. Let’s face it, sometimes keeping a trend on anything can be hard to do as all of our plates are very full.

 

I wanted to share this Facebook LIVE with  you as a way to keep current on the following things:

  • Occupancy Rates and Rent Growth
  • Renter Migration
  • US Homeownership Rates
  • Age Demographics
  • Affordability

Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

 

Nat Kunes shares the 5 Trends he is seeing in the rental market as far as macro trends:

Occupancy Rates

Occupancy rates drive what is happening in the rental market. In 2017, there was a dip from the 2015 high in the market. Nat thought 2018 will be lower than 2017. 94% occupancy is expected for the year.

 

Effective Rent Growth

You can see here that 2017 was the lowest in the last 7 years. As occupancy dips it is harder to raise rent. We are still high above long term averages. This is good to look at when you are building your rental portfolio.

 

Migration

As we look at these areas of the US – the entire Southwest, Northwest, Arizona, Nevada and Colorado we see in flux of a hotbed of activity. Where other areas of the US are seeing an outflow of activity like Chicago, New York and Los Angeles.  

 

Home Ownership Rates

Home ownership rates are at a historic low all the way back to the 1960’s. This kind of positioning drives the rental market. Many of these factors cater to the market being the way they are right now:

  • Housing Prices
  • Rental Prices
  • Taxes
  • Job Growth

This is going to be an area that will stay low for a while as it is not something that you just bounce right out of. This is backed up by historical data from the real estate trends in America.

 

Check out the last 8 minutes of this Facebook LIVE to learn more about what is happening in regards to age demographics and affordability in Real Estate and in the Rental Market in the US.

 

Enjoy!

All my best,

Teresa

Boomers Will Make Perfect Tenants

Baby Boomers Are Retiring Sooner Than Anticipated

Baby Boomers, investment property, Picket Fence Properties, Windsor, Windsor CO, Property Management, Colorado, rental, income, investment properties, vacancy, vacancies, Northern Colorado, rent, manage, tenant, Greeley, Loveland, Fort Collins, Ft. Collins, Wellington, Eaton, Evans, Frederick, Firestone, real estate, rental, Property Management, Rentals, Investment Properties, Income, Tenants, Vacancies Northern Colorado, Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone, For sale by Owner, Owner, house, home, subletting, evict

A Baby Boomers survey done by PulteGroup, Inc. that said Baby Boomer are planning to retire earlier than expected. The average age of retirement is now 63.7 vs the expected 65 in 2013. 33% of these retirees will purchase a new home specifically for retirement. One third of them will downsize and move to a specific geographic location to be near family.

 

Popular areas in the US are Arizona, Florida and Colorado. In these areas, there is a huge real estate opportunity for downsized housing meant for these Baby Boomers. These areas offer peaceful lifestyles but with ample public amenities to attract the Boomers that are looking to settle in.

 

Did you know that most 65 year old’s are expected to live at least an additional 20 years, there is now time for retirees to purchase a new home in full. These Baby Boomers are active, motivated and have a generally good retirement savings. MassMutual reported that the average 401(k) in 2017 was $97,700 for these retirees. The average IRA account help $100,200.

 

So how can you as a property owner capitalize on this opportunity?

You can work with a Property Management company to help you split multi family homes. Retirees usually need much less space than younger families or first-time home buyers. Generally, they are also more likely to be a quite, low maintenance tenant. You might be able to rent a multifamily home twice to multiple retirees.

 

Turning your properties into a focused retirement property could be a great option for you.

 

Perhaps you aren’t a Property Owner yet but you are thinking about it. Baby Boomers want to live near family, golf courses, clean parks and easy-access stopping. Finding homes, condos and apartments like these may be a wise decision in the next few years. We can help you locate prime areas to invest in.

Looking ahead to your future, investing in a Baby-Boomer retirement home or homes may be something you want to do and we’d love to help you management that property, taking the headache out of tenant management.

Enjoy!

All my best,

 

Teresa

 


Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.