Ranch and two-story homes have features that appeal to different buyers, but also some drawbacks that you should consider. You may prefer one style when you have a growing family and another style when you become a senior citizen. The construction statistics may surprise you.

For example, in 1980, around 60 percent of US housing starts, but in the new millennium, that number has decreased to around 49 percent. Why? As the population increases and there is no corresponding increase (in fact, a shortage) of buildable land, many building lots are getting smaller. It’s easier to build two-story homes, with their more compact foundations and smaller roof areas, on reduced size lots than building sprawling ranch homes.

This statistic seems to contradict the preferences of the aging US population, for which over 80 percent of this group (65 or older) prefers living on one level only.  Climbing steep stairs is a “no-no” for senior citizens—more opportunities to suffer injury.

Tastes Are Changing

According to the National Association of Home Builders, buyers are less interested now in two-story homes than they were in the past 30 years. Formerly, the overwhelming majority of Americans preferred multi-level homes. However, the American majority (52 percent) now prefers one-story living.

In addition to senior citizens, increasing numbers of younger people prefer one floor living, too. In fact, the number of under-35 adults preferring single-story homes is up to more than 50 percent as compared to the 36 percent choosing two-story homes and the 14 percent who favor split-level houses.

Designs Are Changing, Too

The apparent conflict between homeowner preferences and the scarcity of building land, influencing contractors to favor two-story homes, are influencing some design changes that incorporate some single-story advantages into two-story houses.  Two significant changes dominate the landscape of new two-story homes.

1.       First floor master bedroom suites becoming more popular.

Instead of locating all sleeping areas on the second floor, master bedrooms are being relocated to the first floor. Now aging homeowners don’t need to relocate to the first floor as their legs create stair-negotiating challenges or actual injuries.

2.       Second floor laundry rooms keep dirty clothes nearby, eliminating the need to negotiate stairways with heavy clothes baskets.

Laundry rooms on the second floor are rapidly growing in popularity to mimic single story homes with convenient laundries close by living areas. This plan alleviates the risk of family members carrying clothes baskets down to (or up from) laundry rooms on the first floor or, possibly, basements in older homes.

Organize Your Priorities

Homebuyers should rank their priorities when finding the next home. This means their ideal option typically is a mix of objective and subjective factors.

For example, younger homeowners who cannot yet afford their dream home, often buy and sell homes quickly, building up profit and equity rather fast. These homeowners stress the objective, rather than subjective factors.

More seasoned homeowners tend to make the subjective a higher priority. They rank the comfort and “livability” of a home higher than profit and dollar signs of value gains. Potential resale value remains an important factor (more dependent on location than home style), but the top factor becomes the quality of a home and its “livability” level.

However, the deciding factor should be how a home “feels” to you, even if your trying to build a nest egg. After all, you and your family are the ones that will live in it.

Many people live in Colorado Springs, because some of Colorado’s best schools are located within the area.  Three out of the eight school districts in the area are ranked in the top ten out of 106 schools in the state of Colorado. 

Cheyenne Mountain School District No. 12 is ranked 2^nd and it is located in the southwestern corner of Colorado Springs.  The district has one preschool, five elementary schools, one junior high school, one high school and one charter school.  There are approximately 4,600 students in the district and the school’s excellent standing comes from the students who strive to work hard every day.

The Lewis-Palmer Consolidated School District No. 38 is located at the North End of El Paso County and it is ranked 3^rd out of 106 Colorado schools.  The district has five elementary schools, one middle school and two high schools.  There are more than 6,000 students in the district and the schools have programs that assist students of all learning abilities.  With the continued growth within the school district, plans have begun to reconfigure the schools and expand the transportation facilities to accommodate more students in the future. 

Academy School District No. 20 is ranked 9^th on the list of top schools in Colorado and students who live in the Northern part of Colorado Springs attend this district.  The district has one preschool, twenty-one elementary schools, eight middle schools, seven high schools and one charter school.  This school district is rather large with over 24,000 students in attendance.    

These three school districts give families excellent options for their children and makes Colorado Springs one of the best places to live in the state of Colorado.  Every parent will agree that a good school district is necessary for children and parents in this area will want to check out these districts as potential schools for their children.

Discover the best outdoor activities in Colorado Springs

People who love outdoor activities, also love Colorado Springs. The county seat of El Paso County, Colorado Springs, around 60 miles south of Denver, has a population of over 450,000 residents. Home of the US Air Force Academy, Colorado Springs also enjoys the nickname “Olympic City USA” as it’s also the headquarters of the US Olympic Committee and the US Olympic Training Center.

Outdoor Activities in Colorado Springs

Whether you’re into fitness, spectator sports, or natural beauty, you’ll find exciting things to do outdoors. Here are some suggestions for residents and tourists alike.

·       If you love baseball, you’ll enjoy the Colorado Springs Sky Sox; if college football is more appealing, you will have a great day watching the Air Force Academy Falcons play their FBS (formerly Division 1) opponents in the clean crisp air of Fall.

·       Visit one of the many beautiful parks in Colorado Springs, including the Garden of the Gods, which many fans consider to be the “most beautiful park in the world.”

·       While you may not have the driving to compete in the annual Pikes Peak International Hill Climb (PPIHC), you can certainly watch parts of it on the typically beautiful last Sunday in June every year. When the 4,720 foot, PPIHC is not being run from the 9,390 foot start line to the 14,115 foot (above sea level) finish line, you can take one of multiple tours up this famous mountain on the Pikes Highway. Just remember the air is really thin up there.

·       If hiking is your favorite outdoor activity, you’ll find the New Santa Fe Regional Trail, the Pikes Peak Greenway, and Fountain Creek Regional Trail wind through Colorado Springs from Palmer Lake all the way to the town of Fountain. Much of the trail through the city limits is paved, the rest is a soft gravel trail. No motorized vehicles are permitted on these trails, so they’re safe for hikers.

·       Enjoy rock climbing as an ideal day outdoors? Then the Front Range Climbing Company is perfect to get your climbing “fix.”

·       Should you love riding horseback, the Old Stage Riding Stables has the horse for you. There are multiple horseback riding tours to provide beginners through experts, exciting outdoor experiences. Academy Riding Stables also offer quality horses for outdoor equestrian adventures.

·       When you want to combine Colorado’s natural beauty with a day of fitness, put Seven Falls on your list of things to do. This majestic waterfall is less than one mile from the noted Broadmoor resort, Seven Falls with its spectacular 181-foot drop of rushing water, is matched by its challenging hiking trails. Seeking even more excitement? Take one of their zip-line tours, followed by a relaxing dinner and/or visiting nearby shops.

As you now can see, Colorado Springs is much more than a picturesque area near the Rocky Mountains. Colorado Springs is an exciting venue for outdoor activities. Located in the so-called High Desert area, its climate is more temperate than Colorado’s noted ski areas. Not often subjected to the dramatic temperature swings, Colorado Springs attracts new residents and tourists hoping to enjoy its natural beauty and its many fabulous outdoor activities.

The Pros and Cons of Finishing Your Basement

Many prospective homeowners become confused with the livability of unfinished versus finished basements. The truth: It all depends on your basement. However, this plan remains the most cost-effective method to increase your home’s living space. You can finish your basement for much less than constructing a similar addition to your home.

Like everything else, there are pros and cons to finishing your basement. We’ll give you some of these so you can better decide if a finished basement is in your future.

Pros

The most cost-effective way to add a room to your home.

You could save between 30 and 50 percent of the cost of adding an addition to your home. You don’t need a roof and one or more roof tresses, which saves their cost. You also do not need to invest in expensive windows since your basement already has windows.

Relatively easy to make this a do-it-yourself (DIY) project.

Depending on the “elegance” you want to create and at least are reasonably “handy,” finishing a basement could be an ideal DIY project for you. This suggestion assumes you don’t need to add complex plumbing or rewire the entire basement to bring power to your finished basement.

Simple way to add bedrooms for a growing family.

When you lack the space to accommodate your growing family, a finished basement is a simple, cost-effective solution to adding one or more bedrooms to your home.

Relatively easy way to make a small living/sleeping quarters for aging parents.

Do you have adult children who think it’s “cool” to live with you or do you need some sleeping and living quarters for elderly parents needing your care and concern? Finishing your basement could be the cost-effective answer to your dilemma.

Limited natural light is a plus for a home theater/media room.

When you have a traditional basement with small “basement windows,” a finished basement is ideal for creating a home theater or general media room. This idea may also work if you need a proper home-office but simply don’t have the space right now.

Could receive over three-quarters of the cost when you sell your home.

This represents an increase over the typical payback you receive for most average home renovation projects.

Cons

Possibly limited ceiling height.

Many city and town building codes require finished basement ceiling heights to be a minimum of seven feet high. If your unfinished basement ceiling is only seven feet now, when you add a finished ceiling your ceiling height will be cramped at less than seven feet. For normal sized people, not NBA players, ceiling heights below seven feet, nine inches feel “cramped.”

May need to reroute heating ducts or plumbing.

Depending on your current plumbing layout (it was done for an unfinished basement), you might need to reroute pipes and stuff.

You possibly could have water and excess moisture issues.

Water and excess moisture are the top problems with finished basements. Even if your basement is now relatively dry, just a small amount of seeping moisture can create serious mold or mildew issues.

May have added cost creating another bathroom.

Did you realize basement toilets must flush UP? This requires an installed special “ejector pump” to get toilet water to defy gravity. (Typically, expensive to buy and install).

May be challenging to find attractive and functional flooring.

Remember, your unfinished basement floor may have major imperfections (it was created as an unfinished basement floor). If you have moisture issues, wood flooring is not an option, as moisture is wood’s mortal enemy. Consider vinyl interlocking tile or planks, which are moisture-resistant and won’t conform to floor imperfections.

All of these suggestions should be considered BEFORE you finalize your decision and project plan. You’ll be happy you did!

Many first-time homebuyers make mistakes, when finding the home that they absolutely, positively cannot live without. However, they make mistakes, which are costly, when finding that all-important first house. They find that homeownership is expensive and seldom consider the long-term consequences of their actions. Here are the most common errors they make—don’t become a statistic on this list.

Common First-Time Homebuyer Mistakes

Here are the errors that are most common to first-timers.

1. Getting a mortgage loaded with long-term risk.

Adjustable rate mortgages (ARMs) are appropriate, but seldom for first-time homebuyers’ uncertainty in the duration of their ownership time period. The temptation of the lower starting interest rate (as compared to fixed rate) mortgages is often an attraction they cannot resist.

2. Buying more house than they need.

Mortgages evaluate your affordability based on your income and credit history. Young first-timers often believe their careers will improve soon, dramatically increasing their gross monthly income. They tend to become emotional when finding a home they love instead of holding firm to their original affordable price range. If their lender agrees with their vision, it may approve their application.

3. Dismissing the home inspection as unimportant.

A thorough home inspection is vital to a buyer. Otherwise, forgoing a home inspection is incredibly risky. It’s actually much more important than the required appraisal, as serious problems may exist with plumbing, electrical service, and roofs that can cost thousands to repair. Don’t expect sellers to point out these problems; they just want to sell their home as quickly as possible.

4. They often fall in love with the first home they see and neglect to shop around.

First-timers often fail to speak with different lenders, comparing different interest rates and closing costs. They should get multiple (at least 3) estimates, which lenders should reduce to writing for current interest rates and real closing costs with applicable lender fees (which are always negotiable).

5. They often fail to visit a home for sale multiple times.

Features that initially impressed you may not translate to everyday benefits. You’ll learn if your first impressions were valid by visiting homes you consider at least 2-3 times before making an offer to buy. Sure, the home may be scooped up by another buyer, but, so what, there are other choices. Real estate hasty decisions tend to be costly.

6. Restricting your search to the one neighborhood you absolutely want to live in.

There probably other areas that have equally good “ambience and panache,” have equally good school systems, and equally impress your friends and family. Don’t be too restrictive; keep an open mind about locations.

7. Some first-timers prefer to make a home search a do-it-yourself (DIY) project.

This could be the biggest mistake of all. Buyer’s agents realize sellers’ agents only have the sellers as clients, rightfully protecting sellers’ interests (they commit to getting the highest price possible). First-time buyers should find their own agent to protect their interests (finding the right home at the right price in the right area).

You can avoid these common expensive mistakes by avoiding these costly errors. First-timer’s lack of home buying experience will be bolstered by a partner (your agent) with loads of experience protecting and advising buyers.

Master planned communities are becoming more popular with homebuyers, because they offer the convenience of living in a neighborhood as well as amenities, parks and shopping centers close by.  A few of the best master planned communities in Colorado Springs are Cordera, The Farm, Flying Horse and Gold Hill Mesa.

Cordera - Northeast Colorado Springs

Cordera is located in the Northeastern section of Colorado Springs and the architectural styles of the houses as well as the elevation option and color options allow homeowners to avoid living in a community where all of the houses look the same.  There are many cul-de-sac streets throughout the community and the landscaping program is excellent.  Families will enjoy playing in the storybook themed parks and walking along the multiple trails.  The community center has a heated outdoor pool and a five acre lawn for families to use.  Adults can utilize the fitness equipment inside the fitness center and take one of the many different fitness classes offered.  Cordera organizes many events, programs and parties for the community, so that everyone can spend time together inside the neighborhood. 

Browse Homes for Sale in Cordera

Visit: Cordera's official website

The Farm - North Colorado Springs

The Farm brings the outdoors to a master planned community with this small and intimate neighborhood development.  To the West of the houses, everyone has a clear view of the mountains.  The Farm has many miles of recreational trails that connect to the parks in the community.  A few of the trails even link to the New Santa Fe Region Trail, so that more adventurous people can easily bike ride through the surrounding areas.  The Farm has a gathering place for everyone to meet.  The gathering place has a clubhouse and fitness room as well as an outdoor swimming pool.  The wooden dock at the lake is the perfect place for fishing and launching a canoe or kayak. Many families will enjoy picnics down at the lake and roasting marshmallows at the fire pit as the sun is setting at night. 

Browse Homes for Sale in The Farm

Visit: The Farm's official website

Flying Horse - North Colorado Springs

Flying Horse is a master planned community and resort all in one at the Northern part of Colorado Springs.  Every elegant home has a spectacular view and everyone is able to play golf on the 18-hole golf course that was designed by Tom Weiskopf.  Both the clubhouse and spa have European influences, so that people can relax in luxury.  There is a school campus located inside the community as well as a lodge where guests can stay.

Browse Homes for Sale in Flying Horse

Visit: Flying Horse's official website

Gold Hill Mesa - near Old Colorado City and Bear Creek Regional Park

Gold Hill Mesa offers homeowners unique options for their homes however each home has modern features and a front porch.  The community center is the heart of this community and homeowners often meet at the center to sit by the fireplace or play a game of pool.  The fitness center has fitness equipment as well as fitness classes either at the center or outside in nature.  Bear Creek Park is a short distance from Gold Hill Mesa and people can walk their easily.  The park has playgrounds, tennis courts, a dog park and miles of hiking trails. 

Browse Homes & Condos for Sale in Gold Hill Mesa

Visit: Gold Hill Mesa's official website

Banning Lewis Ranch

If you're looking for brand new builds with all the features in demand today, Banning Lewis Ranch is the place to start. This neighborhood is conveniently located near Powers, giving you easy access to all of Colorado Springs. Even though you're in the heart of the city, the neighborhood is full of trails, greenery and more. You don't have to sacrifice the great outdoors just to have things to do closeby. If this sounds like then neighborhood for you, let us know. We'll help you find your dream home today. 

Wolf Ranch

At an elevation of 6500' the neighborhood of Wolf Ranch boasts some of the best views in the entire city. Maybe that's why it won the Gazette's Best of Neighborhood award three years in a row. Not only does this neighborhood have enviable amenities, like their rec center, there's also a strong sense of community. There's no shortage of scheduled events such as concerts, holiday celebrations. We can't forget their year-round pool and plans for even more growth. Looking to move to Wolf Ranch? Reach out today and let our team help you find your next home.

Families are choosing master planned communities for all of the conveniences that they have to offer.  These communities are also some of the safest places to live and raise children.

US military veterans sometimes struggle with qualifying to buy a home when they are no longer servicemembers. However, help does exist. The US Department of Veterans’ Affairs (VA) offers liberal qualifying rules for members of the active military and veterans.

VA Loan Benefits Help Military Veterans Buy Homes

VA loans offer veterans numerous advantages to those who want to become homeowners. These benefits include the following advantages.

·       No Down Payment Needed --

Saving up for a down payment is challenging for military, while they’re active or separated from their branch. VA mortgages allow their qualified borrowers to finance up to 100 percent of the value of the home they want to purchase.

VA borrowers can, of course put down more, typically 5 or 10 percent, if they want to lower their monthly payment. However, in most cases, if borrowers want 100 percent financing, they’ll be able to get it.

·       No Private Mortgage Insurance Payments --

Most conventional mortgage lenders require borrowers to pay for private mortgage insurance (PMI) if their loan-to-value (LTV) is over 80 percent of a home’s value—not so with VA home loans.  Why? The federal government backs all VA home loans and takes on the risk of default themselves, transferring the risk from borrowers to the government. This is a significant benefit since PMI can increase your monthly payment by many dollars, the amount of which is dependent on the size of your mortgage loan.

·       Lower than Market Interest Rates --

Since the government guarantees VA mortgages, approved lenders sometimes lower market interest rates by ½ to 1 percent for these borrowers, even lowering rates by ½ of 1 percent can save these homeowners purchasing a modest home ($150,000 range) almost $15,000 in interest over the term of the loan.

·       Active-Duty Military Persons Can Count Basic Housing Allowance (BHAs) as Income --

Active-duty military personnel who receive a BHA (most of them), can ask lenders to count this housing allowance as monthly income for qualification for application approval purposes. Most lenders are willing to do this, as BHAs only make their loans more secure.

Since this is real money, the BHA can help pay some or all of the monthly payment for the VA home loan. The amount of the BHA depends on local housing costs and your rank, so it can be a major advantage to assist you in effectively lowering your monthly payment.

·       No Prepayment Penalties --

Paying off your mortgage before maturity may appear only a daunting dream for you, but the more common way this happens is when you sell your home to move to another. Since most conventional mortgages require prepayment penalties, which can be very expensive, VA home loans deliver a significant advantage to homeowners.

Even if you don’t have a crazy aunt that leaves you $300,000 in her will, you’ll benefit from freedom from worry about a costly prepayment penalty. Many borrowers have been “blindsided” by a prepayment penalty by simply refinancing their home, which also pays off your current mortgage early.

Real estate investors, particularly first-timers, often wonder whether buying rental homes near military bases is a wise strategy? The answer is a resounding “Yes.” Here is why it’s a good idea.

Reasons to Invest in Rental Properties Near Military Bases

There are multiple reasons to buy rental homes or apartments in close proximity to US military bases, including the following.

·       Always remember the three most vital rules of real estate: Location, location, and location.

Military bases tend to spur a significant “rental culture” that reflects the rather frequent movement of active military personnel. In most cases, buying homes, to a large extent, is an added burden for military families, since they typically move up to 10 times more often than other families. This statistic makes it more difficult for military personnel to enjoy all the “perks” of home ownership, tax-deferred gains in home value and larger income tax deductions (for mortgage interest and property taxes paid).

·       Supply and demand 101:

Basic economics rules tell us that strong markets tend to depend on matching the supply of products with the demand for those products. When the supply of something is greater than the demand, the product price will decrease. However, if the demand outstrips the supply, the price increases.

Military families typically favor rental residences near their bases to enjoy some of the perks of suburban home ownership without the commitment involved in owning residential property. Renting a single-family home or townhouse delivers a sense of community and security many military families crave.

·       The Basic Housing Allowance (BHA) may guarantee a stream of qualified tenants:

The US military helps its personnel find acceptable housing options with a BHA. This stipend helps service members meet their housing expenses. But, this also assists rental homeowners find qualified tenants now and in the future.

The military calculates the amount of BHA using a formula that incorporates local rental housing prices, the person’s rank, and the service member’s number of dependents. For military bases without on- or convenient off-base government housing options, the BHA is consistent with the local consumer prices for housing.

Investors, who price their rentals at the local market standard, typically are ensured that they will enjoy a qualified “pool” of potential tenants who can afford their properties. Can you think of a better plan to keep the vacancy rate, which is expensive, consistently low? Probably not.

Rental property owners can learn about the local housing market by simply following the advertising for other rental homes and townhouses in the city, county, and local area. Homeowners will become knowledgeable about the local economy and their “competition” for affordable, comparable rentals in proximity to their local military base.  Remember, “knowledge is power.”

Compare more than monthly rental prices, however. Analyze the neighborhood, rental property, and local school system, all of which are important to most service members with young and growing families. Similar to most consumer product profitability, pricing your monthly rentals in accordance with current market standards should keep your cash flow strong and consistent.