As everybody knows, the baby boom’s arrival into retirement years is the big factor driving demand for single-level homes and communities around Denver — but there are other factors that are nudging along the retirement market here that may keep demand strong for years to come.
Kids and grandkids. The first of those is what new-home sales people are calling “grandparent glue” — kids and grandkids, many of whom relocated here a decade ago for the outdoorsy lifestyle, now prompting Mom and Dad from California or back east to follow along. “We’re always seeing buyers moving in from out-of-state to be close to kids,” says Lennar’s Tina Veltri with Heritage Todd Creek in Thornton. Some new arrivals pay cash for their ranch plans, she adds — prompting Lennar to offer a discount if they’ll do that.
Big-city amenities. Experts note that older buyers often make an initial choice of a fair-weather retirement, only to find they miss the big-city comforts. Denver, the only really-big town for 500 miles in any direction, offers the same lure to retirees as it does buyers relocating from more rural areas of the mountain west — wanting the big-town sports, the cultural attractions and a big airport with direct flights.
Health and wellness. Along with Colorado’s appeal as a place with a healthier environment and a fit populace, the Denver area is attracting an explosion of hospital campuses, many of them on the suburban fringe. Thatap happening at the same time when rural hospitals around the nation are often struggling to survive. WalletHub identified health as a major factor leading to Denver’s inclusion among the top-10 “Best Places to Retire” from 150 large city destinations. (Colorado was chosen fifth-best state to retire, based in part on a ranking of number 7 out of 50 for health care).
Room to spread out. Some retirees want elbow room; others are content with a little higher density. Denver provides a choice — with some products on the suburban edges where you can match a ranch plan to a larger lot. A downsizing buyer may still want to hold onto classic cars and other toys, according to Lokal Homes’ Marina Solt, with ranch offerings at The Estates at Buffalo Run on sites that run a minimum of 80 feet wide — some more than 10,000 square feet. “Buyers here are really into the size of the garage,” she says. That allows for options such as a “swing-load” garage bay for storing a recreational vehicle. A four-car garage is possible, as well.
Affordability. After five years of appreciation, locals are used to thinking of this as a more expensive market — however, Denver’s affordability ranking with WalletHub (103rd out of 150) looks good in comparison to San Diego (130th), San Jose (145th), Los Angles (127th), or even some midwestern cities without the alpine allure such as Minneapolis (124th) and Madison (117th). Some builders on today’s tour keep prices lower by offering “paired homes” — duplex-style plans that allow for reduced building costs. “There’s huge interest,” says Rod Dutcher at Cardel Homes, giving an early look inside a paired model at Lincoln Creek in Parker. Even before its completion Cardel has sold 18 homes. “Most buyers pull the trigger sight-unseen,” he adds.
The news and editorial staffs of The Denver Post had no role in this postap preparation.
