We've all heard it, location, location, location. Buying real estate may be the biggest financial investment you ever make, so maybe we should be saying investment, investment, investment. When I asked local real estate experts where they thought the next hot spot for real estate investment might be they all had the same answer: The Lafayette, Colorado housing market.
Why Invest in Real Estate In Lafayette Colorado?
Lafayette is growing immensely in popularity. Like its neighbor Louisville which saw greater home value growth in 2014 than even Boulder, neighborhoods in Lafayette, such as Waneka Lake and others below, will likely follow the same pattern. As Louisville and Boulder's subdivision are nearly fully developed, people tend buy in the next closest location. This creates a higher demand which will drive home prices up.
The Numbers Back Up Experts' Opinions
"The median home value in Lafayette is $319,200. Lafayette home values have gone up 10.9% over the past year and Zillow predicts they will rise 4.6% within the next year. The median list price per square foot in Lafayette is $196, which is lower than the Boulder Metro average of $217. The median price of homes currently listed in Lafayette is $449,900 while the median price of homes that sold is $290,775. The median rent price in Lafayette is $1,500, which is lower than the Boulder Metro median of $1,750." - Zillow.com
Not only is the average price per square foot 10% lower than the average for Boulder County, you can see by the median price of homes sold that a lot more affordable homes are available in Lafayette.
Lifestyle in Lafayette
Lafayette has seen enormous positive growth in the last decade. Amenities like restaurants, shops and the newest YMCA which offers a skating rink, gym, and a pool that is enclosed in a bubble during the winter months are drawing more homeowners to the burgeoning community. With easy access to all the amenities in nearby Louisville and Boulder, Lafayette's popularity continues to grow.
Who is Lafayette Right For?
Looking for a view? Lafayette's most striking feature has always been its magnificent views of the snowcapped Rocky Mountains. Lafayette is also a great location for commuters. Located just west of I-25 and east of HWY 287 between Baseline Rd. (HWY 7) and S. Boulder Rd, it's also close to HWY 36. Lafayette is only a short drive to Denver and Denver International Airport.
One of Lafayette's most popular features for families and outdoor enthusiast is Waneka Lake. Waneka is a is a recreational and wildlife refuge in the middle of Lafayette. It offers fishing, paddle boats, playgrounds, paved paths, basketball and so much more.