Home Buying in Denver>Question Details

raimatcv, Home Buyer in Denver, CO

Thinking about buying a bungalow in Wash Park. Is it worth the money? The prices seem high for what you get.

Asked by raimatcv, Denver, CO Sun Feb 23, 2014

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I can tell you that most buyers want to live in Wash Park, then we start looking and they see the price, and end up buying in Platt Park, Congress Park, Park Hill, Mayfair or Highlands, and end up very happy with a little more home for the money.
1 vote Thank Flag Link Sun Feb 23, 2014
Economic basics: Supply & Demand. Wash Park is one of Denver's most sought after neighborhoods. And there are only so many houses in the neighborhood... with an extremely high demand to own one there. History has proven the area holds value, up to you whether you want to pay the premium to be there or not.
1 vote Thank Flag Link Sun Feb 23, 2014
As buyers continue to drive the prices up in Wash Park, there are many people that do feel a brick bungalow is worth what the sellers are asking. However, I would need to learn more about your specific goals to be able to help determine if you would be willing to pay the higher price per square foot, or if you would like to consider some other neighborhoods where you would get "more" for your money.

For instance, I have clients that sold their 1928 bungalow last year and purchases a brand new home in Stapleton for less. For them, they wanted a more efficient home with enough bathrooms and electrical outlets to accommodate a growing family. Whereas I also listed a 5 bedroom home in Stapleton last year because the single owner wanted to downsize and move to Wash Park.

In other words, it goes both ways.

Give me a call so we can discuss your particular situation.

Thank you,

John Keene
303-547-7578
Perry & Co.
1 vote Thank Flag Link Sun Feb 23, 2014
Raimatcv,

The prices in Wash Park are steep compared to may other areas in Denver. This is one of the most desirable areas in the city due to it's location close to the park, the quality of the neighborhood, and it's strong reputation. Let me know if I can help

RobertMcGuire33@gmail.com
0 votes Thank Flag Link Sat Mar 8, 2014
Great question. Homes in the Wash Park neighborhood have historically maintained their values better than most. That's not to say they didn't take a dip after 2008, but the percentage of those homes value lost was far less than the decreases in values in many other communities. So if the question is specific to whether a Wash Park home will hold it's value, the answer is most likely yes.

But if the question is more about what you get for your money, that's a question you'll need to decide. There are homes in wonderful suburban neighborhoods, with great schools, that would cost you less than half of the $$$ per square foot value you will pay in the Wash Park area, and that's not an exaggeration. But if you don't care for the suburban lifestyle, that doesn't matter.

There are also other urban neighborhoods that offer most of the same lifestyle features that the Wash Park area does, but also cost a lot less.

Bottom line, you will pay more $$$/SF for homes in Wash Park than the majority of homes on other communities. But if you like that neighborhood, and can afford to live there, that home will hold its value over time.

If you're interested in learning about and perhaps seeing some other options, give me a shout.

Best of luck to you.

Larry Brake
HomeSmart Realty
303-877-5242
0 votes Thank Flag Link Mon Feb 24, 2014
Wash Park is pricey, but you are paying to be in a very special neighborhood. It has held it's value and increased consistently, even during our market dip in 2007/08. The amenities that Wash Park offers are unique, the Park itself being a centerpiece for the neighborhood, with its gardens, ponds, bike and walking paths, croquet/lawn bowling courts and a tennis center. Minutes from downtown it is a gem ~ so yes, the price is high, but the benefits are high too!
0 votes Thank Flag Link Sun Feb 23, 2014
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