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3 Tips for Buying a Home in Aurora, Colorado

By U.S. News & World Report

Located east of Denver‘s city limits and approximately half its population, Aurora is the third largest city in Colorado. Its size makes Aurora a hub for shopping, housing and a variety of recreational activities. People looking to buy a home in Denver would be wise to take a look at Aurora, too, where the real estate market tends to be slightly less competitive and slightly more affordable.

“Aurora spans a very large area, so we have everything from condos to million-dollar homes, but it’s one of the most affordable places in the metro area,” says Kelly Brink with 8z Real Estate. “It’s such a big city, there’s something for everyone.”

To help you navigate the Aurora real estate market, here are three tips from some of Aurora’s top real estate agents, as identified by OpenHouse Realty, a real estate data company (and U.S. News partner).

Consider a variety of areas. Before you start your home search in Aurora, determine what you need most. Do you desire an easy commute to work? Do you want your kids to attend school in the Cherry Creek School District? Do you want to be in a walkable area with amenities and services like restaurants and bars?

[Read: A First-Time Buyer’s Guide to Denver’s Cherry Creek Neighborhood.]

Erica Chouinard with Re/Max Success says, “The first question is where do you want to live and why? Do you want to live in Aurora for school, work or access? You’re not buying just because of a floor plan or price, it’s a lifestyle.”

The differences between the north end of the city limits and the south side are clear. The north side of the city offers easy access to the airport and downtown Denver, and features ranch-style homes that were built in the 1950s and 1960s. The south side offers easy access to the Denver Tech Center, Cherry Creek Reservoir and the Cherry Creek School District, with homes displaying newer construction styles.

“Schools are a huge driving factor,” Chouinard notes. “We have a lot of people who want to specifically live in the Cherry Creek district, which drives the growth in the southeast corridor.”

People who travel for work or who are employed at the airport might want to look at the north end near East Colfax. Those who desire a quick commute to the Denver Tech Center might prefer the south end closer to Interstate 225. Those working in health care may want to look at the areas surrounding the new Children’s Hospital Colorado or the Veterans Affairs hospital for easy access.

Be prepared to play to win. Just like in the rest of the Denver metro area, housing inventory in Aurora is low and demand is high, leading to stiff competition for homebuyers — though experts are seeing the market start to mellow.

[Read: How to Avoid Getting Burned (and Burned Out) When House Hunting in Denver.]

Brink says, “The market here has slowed down and leveled off a bit, but it’s definitely still a seller’s market. It’s taking longer to sell, but it’s not bringing down the prices.”

This benefits buyers because a slower market gives them more time to make a decision on a property without the anxiety of intense competition. “It’s helpful for buyers because they actually have time to make more quality offers and we’re seeing less ‘cold feet’ offers that fall through,” Brink adds.

But sellers still have the upper hand in Aurora — at least for the time being. Homebuyers need to come prepared to compete with cash offers, waived inspection clauses and rent-back agreements, which allow the seller to stay in the home until they find a new home themselves.

Consider building a custom home. Several areas of Aurora are still being developed, and it’s often possible to build a new home on an empty lot for the same price as an existing home. For some buyers, there might be more value in building a custom home on a new lot than buying an older home. Not only do these buyers have a better chance of getting all their “must haves” in their new home, but they also avoid the headache and stress of bidding wars and failing contracts.

[Read: A Buyer’s Guide to Denver’s Highlands Neighborhood.]

Chouinard explains, “You have to wait 10 to 12 months to have a house built, but you’re building your dream home instead of getting into a multiple offer situation on a house you only kind of like, and is maybe outdated.”

Southwest of the Aurora Reservoir, buyers can find lots for new builds, as well as near the new hospital areas where there is still a lot of undeveloped land.

Looking for a real estate agent in Aurora? Our Find an Agent tool can match you to the person who’s most qualified for the job.

More from U.S. News

How to Get the Most for Your Money in Denver Real Estate

How to Get the Best Price on a Downtown Denver Condo

4 Real Estate Trends to Know Before You Sell Your Denver Home

3 Tips for Buying a Home in Aurora, Colorado originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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