Looking for a good investment in Colorado? You may want to consider buying a home near the light rail. In a study done in 2008 by Your Castle Real Estate home values increased about 4% while the majority of Denver home values dropped by at least 7%. The study focused on home values along the South East line over the 2 years after the line opened.
Plus, as the light rail becomes increasingly functional and use rises, the value of property near the light rail will probably also increase.
The Light Rail is expanding.
The West Corridor Light Rail, extending form Union State to the Jefferson County Government Center in Golden, is scheduled to complete within the next few years. Homes that neighbor the stations along the new line could also see home value increases.
Also, RTD just announced on Aug.4 that they have purchased additional land to further expand the rail system.
People value proximity to Light Rail.
Since I stopped having to commute to work on I-25, my entire life is better. That commute meant an hour of anxiety and … well, terror. Anxiety as I watch the minutes until I’m late to work burn by while stuck in bumper to bumper. Or worse, no traffic, and the Evil Knievels can really let loose.
Avoiding a dreaded commute is just one reason people are opting to move closer to the light rail. Saving money on gas is another. Being energy conscious is another. A night on the town with the Rail as “Designated Driver” is another. Getting work done during your commute. Laughing at the cars stuck in bumper to bumper while you cruise by.
The reasons are endless. The bottom line is, people want to be closer to the light rail. Demand drives home prices up.
With the light rail becoming more convenient and covering more territory, living near a station will become more in demand. This could be a great opportunity to purchase property that will increase in value.
If you are interested in moving closer to a light rail station, one of our exclusive buyer’s agents can help you find the right home for you.