As Colorado Springs continues to grow into a vibrant community, it's interesting to hear people's perspectives on lofts in downtown Colorado Springs. I have heard both buyers and even city leaders suggest that people aren't interested in buying lofts and that they're not a good investment. However, if my opinion, we currently don't have enough to decide one way or the other. 

Because of the high cost of land, materials, and the cost of updating and renovating older buildings in the downtown area, lofts often start close to $300,000. This might get you a 1,000 sq ft studio in the heart of downtown with limited to no views. I guess it matters what's important to you in the purchase. Certainly, there are pros and cons with loft living such as no yard, often less storage, and you'll probably have to sacrifice having a garage. To some people, merely the convenience and thrill of life downtown is enough to seal the deal. Personally, I believe "If you build it, they will come". That's hard for builders and city leaders to swallow, not wanting to dump lots of money in resources into projects with the possibility of them being unsuccessful.

For some perspective, Colorado Springs real estate is currently holding an average home price about $220,000. First-time home buyers are often closing on properties of this size, many of these single family homes on the outskirts of town. By choosing this option, commute times are longer, homes are in new undeveloped areas (including landscaping and conveniences such as shopping and restaurants), and homes are often "cookie-cutter style" (meaning they all look the same, from the style to the color of paint). Plus, many new communities often have monthly or annual association dues. Lofts will almost always have monthly dues too, but many of these cover all utilities and you have no exterior maintenance. So, it's conceivable that the same buyer could choose either option, it's just a matter of preference.

As a Colorado REALTOR, my job is to help you personally figure out what's the best option for you. If you want more information on the options available in our area, please contact me and let's talk. I would love to help you purchase property in Colorado.