6 Signs It’s Time to Buy a Townhome in Lakewood, CO
Is now a good time to buy a home? If you’re specifically asking about townhomes for sale in Lakewood, CO, the answer is a resounding “YES!” Buying a home is a big investment with a lot of moving parts, and all those parts are currently aligned to make it the perfect time to buy in the sought-after location of Lakewood.
Buying a Townhome in Lakewood, CO
Colorado Housing Inventory
Inventory has been low in the Metro Denver for the better part of a decade, and fell even more sharply in March and April of 2020. However, we are at a unique time in history where there are also fewer buyers, meaning qualified buyers have a better chance of securing a home in their price range.
Options in Lakewood townhome communities have traditionally been in very high demand, making now the perfect time for buyers, and especially first-time buyers, to consider making a move. The newly constructed townhome community of West Line Village, for instance, sold out of its first two phases of homes within months. West Line Village just launched its fifth, and final phase with homes starting at $399K. Act now and you won’t miss out.
Low Mortgage Rates
Home prices have remained stable throughout 2020, but mortgage rates are lower than average, making it an exceptional time for buying. Homebuyers with solid jobs and good credit are likely to be approved for some of the lowest rates the market has seen in years.
As of April 30, 2020, Marketwatch reported mortgage rates had dropped to a record low for the second time in just two months. This type of opportunity is not expected to stick around forever.
Lakewood Housing Prices Will Rise
Housing prices are expected to increase in the latter half of the year, according to the National Association of Realtors (NAR) Chief Economist Lawrence Yun. NAR data had shown a housing shortage in Q1 of 2020, and the real estate market is expected to rebound strongly as Safer-at-Home orders ease up.
The high demand for housing has the potential to increase home prices, making now a wise time to take action. This can be especially relevant for townhome communities that are constantly in high demand.
Lakewood Is Close to Nature
Lakewood is an attractive suburb of Denver with close proximity to both the city and nature. The area has a total of 99 parks, including Bear Creek Lake Park and William F. Hayden Park, each of which boasts more than 2,300 acres of nature at your service. Lakewood sits just minutes from Denver’s foothills, allowing quick and easy access to dozens of hiking and biking trails.
Lakewood’s Diverse Neighborhoods
In addition to being close to nature, Lakewood offers convenience, community, and plenty to do. West Line Village sits within walking distance of Sloan’s Lake, right on a bike trail, and just blocks away from the up-and-coming 40 West Arts District. Townhome communities in Lakewood are increasing in popularity with millennial buyers, make for cozy communities, and provide a safe and friendly place to live.
Safe and Convenient Home Tours
Colorado is currently allowing in-person home tours. Homebuyers who are concerned about safety can rest assured that West Line Village is enforcing strict social distancing guidelines. Sanitation protocols have been increased to the highest standards between showings, and masks and gloves will be available to all agents and buyers. Buyers looking for a sneak peek can even schedule a virtual tour ahead of time.
West Line Village has entered its fifth and final phase of construction. A limited number of townhomes will be constructed with unique features such as walk-out basements, and start in the high $300s. Be one of the first to explore Phase 5 builds at West Line Village. Contact us today!