Best Neighborhoods in Colorado Springs to Invest in Real Estate

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Investing in Colorado Springs real estate is an excellent idea, especially if you’re focused on long term appreciation and value growth. This is an area with a strong economy, a growing population, and a reliable pool of tenants who can be counted on to pay rent and maintain properties.

It’s also a competitive market. Word is out that excellent investment opportunities can be found, and investors from outside of Colorado are flocking to the area to buy homes and rent out properties. Inventory is low and prices are going up. Don’t put off your investment too much longer.

Our advice is always this: surround yourself with local experts. If you’re interested in buying a Colorado Springs rental home, that’s good news. Make sure you’re setting yourself up for success by working with local property managers who can tell you what kind of rental value a property will provide and whether there’s a lot of work that will need to be done before it’s better for the rental market.

Most importantly, a Colorado Springs property manager can advise you on whether the location will work. You need to know you’re buying a home in a great neighborhood.

The best neighborhood for you to invest will depend on your investment goals and your budget. We have some good ideas in today’s blog.

Why Invest in Colorado Springs Rental Homes?

Colorado Springs is especially attractive to investors because of its strong economy and growing population. There are a lot of investment opportunities here that don’t seem risky. The region has several military bases, and not all of them provide base housing. So, that creates a demand for good rental homes for our military members and their families. Investing in a market with a strong military presence always makes good financial sense. There’s less risk if the economy takes a turn or a specific industry begins to suffer.

It’s not only strong because of the military economy and tenant pool, however. There are also a lot of commercial companies and small businesses that have set up shop in Colorado Springs and the surrounding areas. The tech industry is growing here, and there are also new healthcare companies establishing themselves in the area. We can’t underestimate the power of tourism, either. This is especially attractive to investors who are considering short-term rental properties. We have visitors from all over the world who come to hike Pikes Peak and visit the Garden of the Gods. With diverse trails, recreation, and entertainment throughout the area, there’s a strong demand for business here. It also creates a high quality of life, bringing people here to live.

Homes for Sale in Briargate

When investors ask us where we think they should buy a property in Colorado Springs, our first instinct is to recommend Briargate. If this neighborhood is attractive to you and your investment portfolio, don’t waste too much time looking. Homes in this sought-after northeast neighborhood don’t stay on the market long. That should tell you something about how popular rental homes are in this neighborhood as well. When you rent out an investment property in Briargate, you won’t have to worry about long vacancy times or finding a tenant. Everyone wants to live here.

Why? There are outstanding schools. The area is close to the Air Force Academy, and it’s still a generally affordable area for both buyers and renters.

Briargate is a large, master-planned community that’s well-landscaped and beautifully maintained. You’ll find single-family homes with lots of square feet and plenty of outdoor space. Prices aren’t outrageous and the community has a neighborly feel to it. Some homes have enough space for horses and it’s a popular area for families with children and pets.

You likely won’t have to invest a lot of resources in the home you buy at Briargate. Most of these properties will simply need a fresh coat of paint and maybe a few cosmetic upgrades, and they’ll be ready for the rental market.

What will your tenants love about living here? Proximity to shopping and the mall as well as a newly constructed YMCA. There are parks, playgrounds, and plenty of green space for walking and bike riding.

Investing in Northgate Real Estate

One of the fastest growing and most desirable neighborhoods to invest in when you’re looking for Colorado Springs property is Northgate. This area is new and growing and it’s full of high-dollar homes. There are also modest properties for investors who want stable, long-term tenants or renters who serve in the military. It’s close to the Air Force Academy as well as shops, restaurants, and entertainment.

This is a good neighborhood for investors looking for new construction homes. There are single-family homes, condos, townhouses, and multi-family apartment buildings going up as quickly as builders can develop the area. There’s also an increase in commercial activities. Northgate has grocery stores, medical centers, shops, and restaurants that are easy to get to and modern.

Homes for Sale in Woodmoor

Investing in Woodmoor is another excellent idea. We love this neighborhood for a lot of reasons, and good tenants do as well. Most of the people renting homes here earn high salaries. They’re older, and the population has increased nearly four percent in the last 10 years.

Woodmoor is a mid-sized city at the base of the Front Range, providing panoramic views and a lot of opportunities for outdoor recreation such as hiking, biking, horseback riding, and wildlife watching. It’s just 65 miles south of Denver and a great place to invest if you’re hoping to rent to stable tenants while your investment appreciates in value.

In Woodmoor, investors will find some diversity in the types of properties they may be looking to buy. There are plenty of single-family homes as well as townhomes and smaller multi-family buildings that have two or three units.

Investing in Gleneagle

If you’re looking for something that feels like a small town, Gleneagle might be the best place in Colorado Springs to buy real estate. It’s a suburb of Colorado Springs that only has a population of about 7,000. This area is routinely rated one of the best places to live in Colorado. Tenants enjoy renting homes here because of the spacious, suburban feel to the neighborhood. Schools are excellent.

The median rent is about $1,400.

Choosing the Right Colorado Springs Neighborhood

Before you buy any property in any market, you need to know exactly why you’re investing and what you hope to achieve. One of the biggest mistakes we see new investors make is that they just start buying up properties without really thinking about what their strategy is and what they’re trying to accomplish.

Take the time to write down and study your investment goals. This will help you decide what type of properties to buy in Colorado Springs and where you should be looking. If you want to rent out a short-term property, for example, you’re going to look in very different areas than if you want to rent out a home to a military family or retirees.

Excellent investment options exist throughout Colorado Springs, and it’s important that you choose wisely. Don’t be tempted to invest in homes that need a lot of work. Not only will you have to invest money in making repairs and renovations, you’ll also delay the leasing process and collection of rent. Find a property that may need a bit of cosmetic work but is otherwise ready for tenants to move in.

If you’re going to invest in a new construction neighborhood with an HOA or a condo in a building with an association, make sure you understand what you’re joining. You have to review and accept the association rules and regulations. There may be rules about pets, extra fees, and high association dues that will have to be factored into your decision.

Choosing the association that you buy in will often be just as important as the neighborhood in which it’s located. Some HOAs will not allow you to rent out the property you buy for a year or two. Or, there will be restrictions on how many homes in the neighborhood are allowed to be rentals. You may find yourself on a waiting list, which would only eat into your ROI.

Remember that as an investor, you’re not shopping for a home that you’re going to occupy. While you might insist upon granite counters and large yards when you’re buying your own home, purchasing an investment property requires you to look for different things. Location, however, is still incredibly important. You want a well-maintained home that’s safe and attractive. But approach this with a business mind, not an emotional mind. You don’t have to fall in love with the property – your tenants do.

Don’t forget the value that professional Colorado Springs property managers can provide when you’re looking for just the right property. We can tell you what it will rent for and how long it will take to lease it. Please contact us at Empower Realty Team. We lease, manage, and maintain investment properties in Colorado Springs, Monument, Castle Rock, Parker, and Aurora.

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