Eileen and I get asked this question all the time. Do condos appreciate the same way as single-family homes? Here are our answers and the data:
Are Condos a Good Investment in Fort Collins?
YES. Condos do appreciate like homes in this market. The median condo price is up 10.9% compared to this time last year, while single-family homes are up 8.7%.
Why are Condo Prices Going Up So Fast?
As the real estate market and interest rates continue to rise more shoppers and first-time buyers will purchase condos as they are more affordable than single-family homes.
What is the You Plus 2 Rental Rule?
Fort Collins city regulation that no more than 3 unrelated persons can rent a home. As a landlord, you are responsible for enforcing this. A 3-bedroom condo could be the safest investment for out-of-state investors.
Are We in a Bubble?
We are optimistic that the market will continue to rise for several years here in Northern Colorado. Although market swings are inevitable, Fort Collins over the past half-century has seen an average of around 5% appreciation per year.
