Home Buying in 80534>Question Details

Melissa Klem…, Home Buyer in Colorado

Is it a good investment to buy a new Ryland home in Johnstown Colorado?

Asked by Melissa Klemish, Colorado Mon Oct 15, 2007

With today's market, we are afraid to buy our house we are having built in Johnstown Colorado. The cost will be $315,000 and we will need to do the landscaping and fence in the back yard. And we will remodel the basement. Will we be able to get our money out of it, if we sell it in 5 to 7 years?

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3
Melissa,

315,000 New Ryland Home in Johnstown. I know the area very well. Most homes are in the Johnstown area are selling for re-sale about 100 psf. right now. I used to sell new homes in Johnstown what is the square footage of the home. I hope this helps out. So my option with out knowing everything about the home. Is in 5 to 7 years would be that you might break even or make a little money down the road. Hope this helps you.

Thanks,
Jayme Cleveland
303-720-4829
0 votes Thank Flag Link Sun Jan 17, 2010
The Ryland homes in Johnstown declining in value due to their new strategy of offering tons of buyers incentives, Would highly recommend searching for forelcosures in the area. Believe me there are plenty to choose from. Let me know if you would like some assistance in searching for them.
0 votes Thank Flag Link Mon Nov 26, 2007
Please remember, my crystal ball is broke and so is anyone elses that predicts the future, good or bad.
BUT, I'd bank on the fact you all will be just fine.

First, it won't be cheaper to build your home 5 to 7 years from now and less you bought in a terrible location odds are you'll be fine depending on how far along the developer is with the planned community. If they are just breaking ground, then yes you will probably still feel the pressure of the new construction but that is a fact regardless of general market conditions.

Did you use a buyer broker to negotiate the deal with the builder? If so, hopefully, your broker didn't let you over pay with the builder and ensured you where getting a great deal in light of market conditions. I would speak to this broker and ask if the home is still worth what you originally negotiated with the builder. If not you should/might be able to renegotiate with the builder. I wouldn't just flat out not buy because of 'today's market'. This is the exact market you do buy in. Don't wait until it's a seller's market.

CO is a happening state and the stats say where getting bigger and stronger everyday. DIA just surpassed LAX as busier. The front range is booming from Trinidad to Fort Collins.

I understand your nervousness and some of it all buyers go through it when they are making a purchase this large.

Enjoy your new home.
Susan Walker
0 votes Thank Flag Link Mon Oct 15, 2007
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