As inventory continues to decrease, it is becoming a challenge to find a best buy.
This week's criteria is focused on duplex properties. Many don't realize the difference between a duplex, condo or townhome. A duplex is the next best thing to a single-family home. It is two properties connected by a common wall.
Generally, a duplex includes some common area and land. Usually, a duplex will include a party wall agreement. A party wall agreement defines the roles and responsibilities of each owner as it pertains to the common elements of the property. A party wall agreement is designed to establish rules of the property, for example, if the roof needs repair, both parties agree to do it together or if the property needs to be painted one side can't paint their side purple and the other side pink, they agree to paint to look congruent with each other.
Duplex properties are typically cheaper than a single-family home and as a bonus you can get the same amount of square footage for a much lower price than a single-family home.
A townhome is typically a property that is side by side with several other properties and is usually governed by an HOA. This property does not usually have extra land, only the land beneath is your property and is shared by one or two walls. A condo typically has several units in a building, shared hallways, and you do not own any land. Most condos have HOAs.
The first best buy duplex is located in Corinthian Hills in Dillon. This property has lake views and is 2,822 square feet. There is enough room to accommodate a large group in the four bedrooms and three baths. This property sits on .15 acres and features include a hot tub, wood burning fireplace and a one-car garage.
There are two master suites and will accommodate a large group. This is a great primary property or a second home. The views are spectacular of Lake Dillon.
As a property owner in Corithian Hills, you will be able to enjoy the outdoor heated pool and hot tubs at the clubhouse. The property was built in 1982, has a very large deck is very large with many upgrades. This best buy is featured at $211 a square foot and is listed at $595,000 by Renee Inamura, RE/MAX Properties of the Summit. It is a great location!
The second property is another duplex located in Dillon's Meadow Wood Subdivision. This property was built in 1996 and features four bedrooms and three baths. The private setting is in a quite neighborhood surrounded by national forest. The home has beautiful hardwood floors, a gas fireplace, stainless appliances, vaulted ceilings, two master suites and an attached two-car garage. This best buy is 1,620 square feet and priced at $425,000 by Hank Weitake, Colorado Real Estate.
For more information on these best buys or any other properties you may be interested in, contact Leah Baxter, CRS, GRI, RE/MAX Properties of the Summit at www.leahbaxter.com, (970) 389-6367 or firstname.lastname@example.org.