The Springs market in general

[Jon Pacitto]

I'm seriously considering a move to the Springs area in the coming 5 months or so and am trying to learn as much as I can about the market as a whole and in specific neighborhoods as well. My plan is to live in the property for a year or two then rent it. I've been considering condos as well, is this something that would be a sound investment? Thanks for any and all input, it is greatly appreciated. 

[Tyrell Anderson]

Living in the home first can give you a great opportunity to get a good return on your investment as there are possibilities of using grant programs to allow you to get into the home for no money. So in that case you would be able to create cash flow on a property from an investment that cost nothing up front. Some of these grants give up to 4.5% of the purchase price making it possible to put the extra towards principal reduction and also negotiate some repairs from the seller. The grant does increase interest rate, but might not be a big factor depending on the purchase and the goal.

The rental market and sales market both are very tight and on the rise in The Springs. It will be interesting to see what is going to happen in the immediate future and how well the builders will be able to keep up with demand.

Best of luck and congrats on the move to this amazing part of the country!