Buying A Second Home In Denver

Love It, Lock It, Leave It, And Relax

If you’re interested in buying or selling a home in central Denver (or anywhere in the Denver metro area), let’s talk. Please call (303) 222-0027, or e-mail contact@centraldenverhomes.com.

Denver is a fantastic place to have a second home!

Whether you live in the mountains and want a place in the city, prefer to have your own space when you come to visit your kids and grandkids, travel to Denver frequently for work and are tired of hotels, or are looking for a place to retire someday, we can help you find your ideal second home.

When purchasing a second home in Denver, there are a number of factors to consider.

Location, Location, Location
A second home in central Denver can provide you with easy access to the mountains, DIA, downtown Denver, the Denver Tech Center, and the restaurants, shops, and parks in the Cherry Creek, Washington Park, Bonnie Brae, and Belcaro neighborhoods.

Low-Maintenance Living And Lock-And-Leave Convenience
Most people who purchase a second home in Denver elect to buy a condo or townhome, where the HOA takes care of the exterior maintenance and repairs, landscaping, and snow removal. Knowing that your second home will sit vacant for long stretches of time, you’ll appreciate the lock-and-leave convenience and peace of mind that comes with living in a multi-family property. Security features at Denver-area condos can include: parking garages, controlled building access, alarm systems, smart locks, and on-site staff.

Flexible Guest Space
If you plan to have guests visit (and you should plan for it, people love Denver), you’ll want to buy a second home that can accommodate family and friends. This might mean an extra bedroom or room for a sleeper sofa.

Building Amenities
If you’re considering buying a condo, the building’s amenities might play an important role in your decision. Amenities can include: fitness centers, swimming pools, co-working spaces, dog runs and play areas, rooftop decks, concierge services, and on-site front desk and maintenance people.

Homeowners Association (HOA)
With condos and townhomes, you also need to review the HOA rules and regulations, as well as the monthly HOA dues, financial strength of the HOA, and whether any assessments are pending. 

Rental Income Potential
If you don’t plan to use your second home frequently, you might be able to rent it out on a long-term basis, but not on a short-term basis (less than 30 consecutive days). Short-term rentals (STR) are allowed in Denver, but they’re strictly regulated, and an active license is required. To qualify for an STR license, you must live in the property as your full-time residence. You can’t get an STR license for a second home, vacation home, or investment property. In addition to being prohibited by the city of Denver, short-term rentals are also prohibited by most HOAs. And some HOAs don’t even allow long-term rentals. So, if you’re planning on renting your place – now or at any point in the future – it’s critical that you understand what you’re legally allowed to do.

Financing For A Second Home
Financing a second home can be trickier (and more costly) than getting a loan on your primary residence. Most lenders typically require a larger down payment and a slightly higher interest rate. And when the mortgage company is calculating your debt-to-income ratio, they’ll be including the mortgage on your primary home (if you have one), as well as your new mortgage, insurance, taxes, and HOA fees.

For more information about buying a second home in Denver, or to schedule a free real estate consultation, please call (303) 222-0027, or e-mail contact@centraldenverhomes.com.

Please note: Our office is in Cherry Creek, and we help people buy and sell all types of homes throughout the Denver metro area, including the Washington Park, Cherry Creek, Bonnie Brae, and Belcaro neighborhoods.