Colorado homeowners are currently experiencing a strange phenomenon. While the values of homes in Boulder and Denver, Colorado are soaring, it seems as though homes in the vast majority of other markets are losing value or their appreciation is stagnating.
A recent survey conducted by Coldwell Banker Real Estate produced some shocking statistics. In fact, the average price for a four-bedroom and two-bath home is approximately $835,500 in the Boulder area. However, homes in adjacent areas aren’t appreciating near as much. It seems that the gap between home values is very pocketed and becoming wider every day. After Boulder, the Castle Rock area is the second hottest housing market with an average price for a similar home valued at approximately $750,000. Housing markets across the rest of Colorado seem to be in a bit of a lull, though. In Thornton, the average price is $313,000 while in Colorado Springs the average price is only $223,000.
But what does this data mean for the value of your home? Relax, the sky isn’t falling and there are no indicators of another housing market implosion. However, with exception to the small pockets of homes in Colorado, the vast majority of the housing industry is slowing down.
If you live in an area where home prices are stagnating, there is still good news. You can proactively increase the value of your home. However, without any upkeep or maintenance, the value of your home is at the mercy of the fickle markets. Fortunately, there are some easy steps you can take to increase and maintain the value of your home. For example, keeping the exterior of your home clean and attractive with a professional paint job will help to bolster the value of your home. It just makes sense to repaint the exterior or interior of your home before getting it appraised or putting it on the market.
Painting your home is one of the most tried and true methods to improving your property value. In fact, is not uncommon to obtain a 140% return on your investment. Though the cost of repainting your home depends of several factors including your home, you can expect to increase your property value by $1400 for every $1000 you invest in a paint job. To put it bluntly, that is a phenomenal return on your investment. Typical investors who invest money in financial securities never see returns that high.
If you live in Boulder County, Colorado or the surrounding areas and want to maximize your property value before selling your home, consider the expert painting services of Collegiate Painters. We have been serving clients for over 25 years, and we can help with exterior painting, interior painting, and even fence and deck staining. To give our clients time to consider their options, we even offer a free in-home estimate. Contact us today to get started.