Buying a Home in Colorado Springs, CO

 

Colorado Springs is a remarkable city with iconic landmarks such as Pikes Peak and the Garden of the Gods. The town is perfect for residents in search of endless opportunities for outdoor recreation. Colorado Springs’ thriving economy also provides stability, employment opportunities, excellent schools, and a vibrant arts and culture scene. Buying a home in Colorado Springs, Colorado, is an excellent investment due to its great location, lovely neighborhoods, and housing market.

Although there are dozens of reasons why Colorado Springs is such a lovely place to live, here are three of the many reasons why you should purchase property in this community.

 

Colorado Springs' fantastic location next to the majestic Rocky Mountains in the heart of Colorado offers a prime position among breathtaking landscapes and natural wonders. Since Colorado Springs is in the middle of the state, residents can easily travel to other cities such as Denver, Boulder, Aspen, and Breckenridge. From weekend getaways to exploring the vibrant cultural scenes of neighboring cities, living in Colorado Springs means being at the gateway to endless adventures.

 

Colorado Springs is popular among outdoor enthusiasts with its vast recreational opportunities amidst breathtaking natural landscapes. Hiking and mountain biking are popular in Colorado Springs due to the limitless options for hikers, from the Garden of the Gods, with its awe-inspiring sandstone formations, to the challenging trails of Pikes Peak. Other ways outdoor enthusiasts can enjoy the natural landscape of Colorado Springs is through rock climbing, horseback riding, and trail running. Colorado Springs also has many lakes and reservoirs for boating, fishing, and paddleboarding. Countless golf courses in the city accommodate any skill level.

 

Being near the Rocky Mountains, Colorado Springs boasts a delightful climate with temperate weather patterns residents can appreciate. Colorado Springs receives abundant sunshine, with an average of 300 sunny days a year, allowing for an active and vibrant outdoor lifestyle. Even during the winter, Colorado Springs experiences milder temperatures than neighboring cities like Breckenridge and Aspen. Average temperatures in the 40s make winter activities and daily routines more comfortable. The town also receives less snowfall compared to its mountainous counterparts, so residents can enjoy the beauty of a white winter while avoiding the burden of heavy snow accumulation.

While Colorado Springs is home to countless neighborhoods anyone would love to live in, these are the top three neighborhoods to consider when moving here.

 

At the northern end of Colorado Springs, the Pine Creek neighborhood offers residents a prime location with many amenities. The community is close to the upscale shopping and dining options at The Promenade Shops at Briargate and many outdoor recreation opportunities at the Pine Creek Golf Course and the Pine Creek Playfield. The neighborhood is part of the highly regarded District 20 school district, ensuring access to quality education. Pine Creek is known for its exquisite new homes built by top builders, harmonizing with the breathtaking landscape and mountain views surrounding it.

 

Kissing Camels is a prestigious gated community at the base of the iconic red rock formations of the Garden of the Gods, with stunning views of Pikes Peak. With its blend of natural beauty, luxury living, and recreational opportunities, residents can enjoy the renowned Kissing Camels golf course. This sought-after neighborhood provides elegant homes, a close-knit community, and access to a vibrant city with a thriving arts scene and outdoor adventures in the nearby Rocky Mountains.

 

Black Forest, northeast of Colorado Springs, is enveloped by majestic Ponderosa Pines, creating a dark forest haven for outdoor enthusiasts and nature lovers. From the renowned Flying Horse North Golf Course to Black Forest Regional Park, residents can indulge in activities amidst breathtaking natural landscapes. There are multiple trails for biking, hiking, and horseback riding, as well as picturesque picnic areas and open spaces.

Many homes in this area boast large lots and are zoned for horses, providing an idyllic setting for equestrian enthusiasts. Two notable communities within Blackforest include Winsome, featuring custom homesites ranging from 2.5 to 10 acres, and the Black Forest Reserve, an impressive gated community off Meridian Road. With endless sights, abundant wildlife, and incredible opportunities for spacious and luxurious living, Black Forest is an unparalleled destination for those seeking a harmonious blend of natural beauty and refined living.

Determining housing costs in Colorado Springs is crucial for purchasing a home and living in the area. It also provides insights into the region's economic health and is essential for fostering a sustainable community.

 

Understanding the current market is essential when considering a home in Colorado Springs. The town is in El Paso County, which currently has a median house price of $465,000, a decrease of 4.9% compared to last year. In Colorado Springs, the median house price is $459,000, a decline of 5.25% compared to April 2022. Although the median housing price is slightly higher in the county compared to Colorado Springs, both markets are experiencing drops in housing prices compared to the previous year.

 

The average closing costs for buyers reflect a certain percentage of the purchase price, often around 2%-5%. These costs usually include loan origination fees, the administrative expenses of processing and underwriting your mortgage loan, appraisal fees, lender's title insurance, and homeowner's insurance. If there is a homeowners association (HOA), HOA fees may be applicable for contributing to the maintenance of shared amenities and common areas.

One final potential cost is a transfer tax, also known as a documentary fee, which varies based on local regulations and is typically a percentage of the purchase price. These closing costs vary depending on the loan amount, property value, and specific circumstances, so consult a professional to obtain more accurate estimates tailored to your home purchase.

Do you want a home in the Colorado Springs real estate market? Look no further than Pink Realty, your trusted partner in real estate. With knowledge of the local market and dedication to customer satisfaction, Pink Realty is here to guide you every step of the way. Contact Pink Realty today to make your home-buying journey a seamless and enjoyable experience.

_{*Header photo courtesy of Pink Realty}