Colorado House Finders

The National Association of Realtors has reported results from a 2007 Investment and Vacation Home Buyers Survey, conducted in March 2008. They found that sales of second homes, including vacation and investment home sales, still accounted for 33 percent of all existing and new home sales for 2007, down from 36 percent of transaction sin 2006. The combined total of such home sales did decline with the overall market in 2007.  In terms of type of Vacation home purchased, 59 percent were detached single-family homes, 29 percent condos, 7 percent townhouses or row houses, and 5 percent other.  In 2006, single family homes accounted for 67 percent of vacation-home sales, while condos were 21 percent. 

The typical vacation-home buyer in 2007 was 46 years old, had a median household income of $99,100, and purchased a property that was a median of 287 miles from their primary residence. In listing the reasons for purchasing a vacation home, 84 percent of buyers wanted to use the home for vacation or as a family retreat; 30 percent as a primary residence in the future; 26 percent to diversify investments; 25 percent to rent to others; 16 percent for tax benefits; 14 percent for use by a family member, friend or relative; and 6 percent because they had extra money to spend. 

Sixty-five percent of vacation home buyers purchased existing homes, while the remainder purchased new homes. Last year, 24 percent of vacation homes were purchased in the West. Vacation-home buyers plan to keep their property for a median of 10 years; 38 percent plan to keep their vacation home for 11 years or more.   

NAR’s 2007 Investment and Vacation Home Buyers Survey, conducted in March 2008, includes answers from 1,965 usable responses.  The survey controlled for age and income, based on information from the larger 2007 National Association of Realtors® Profile of Home Buyers and Sellers, to limit any biases in the characteristics of respondents. The Colorado House Finders’ Real Estate Consulting team is experienced, professional real estate agents with certifications in Real Estate, Lending and Appraising, who specialize in Denver Colorado real estate.  For access to Denver MLS listings , contact Colorado House Finders or www.ColoradoHouseFinders.com.

If you are planning to relocate for your retirement, or simply want a new home in the same community, you are probably looking for a nice home to live in for retirement.  Well this is the perfect time to plan a little further ahead.

Maybe you have aspirations of moving again in the future, but for many people, retirement is a time when the stresses of life are to be left behind.  This can include home-buying and moving.  If there is any chance that the next home you buy will be your last, do yourself a favor and consider your future needs.

While your mobility might be great at the moment, chances are that as you age, eventually there will come a time when stairs are not your best friend. Considering accessibility might seem far-fetched while you are still young, but it is just the thing that could determine your future comfort. Homes can be designed to be accessible without compromising style.  It is entirely possible to build a home designed for complete wheelchair access and mobility without anyone ever noticing.

First things first, consider how the front door is accessed.  Choose a home or building site where the driveway is on the same level as the home’s entrance.  While many homes seem to have at least one step going into them, it is possible to avoid this feature.  If for some reason you can’t avoid it, however, it should be easy to cover just one step with a simple ramp if it is necessary in the future.

Once you’ve entered the home, consider its layout. Obviously, you’ll want everything on a single floor. Look for open floor plans.  The fewer doorways the better.  Wide hallways are also important, and can be quite elegant.

For the doorways that are necessary, such as bedrooms and bathrooms, make certain they are larger.  Obviously, this is easiest if you are having the home built for you, but it may be possible to widen existing doors if necessary.  Perform some research before you buy, in order to find out if it will be possible in the home you are interested in buying.  A minimum doorway width should be 32 inches to make it fit the average wheelchair.

In places like the bathroom, it is always possible to add hand-railings later, if needed.  Make sure toilets aren’t too high. Have lower medicine cabinets and full-length mirrors. Consider installing one of the very popular large showers stalls, in the future event that climbing in and out of a bathtub may become a hassle one day.

Designing your home for maximum ease of mobility can improve your life at any age, and it can easily look very fashionable. So do yourself a favor and consider your future when you design your next home. Even if you end up moving and never needing the special measures you took to make it more accessible, you are making your home attractive to a niche market of buyers, and that’s a good thing, too.

This article was written by the writing team at Colorado House Finders, Colorado REALTORS®.   If you’re looking to move or retire in Colorado, please view our listings available in Castle Rock real estate