Denver Owners Can Save Up To $ 330K By Downsizing: Study
DENVER, CO-Owners of 4-bedroom homes in Denver can save anywhere from $ 159,000 to $ 330,000 by downsizing to a 2-bedroom home, the a study.
The self-storage search website STORAGECafé ranked downsizing potential savings in the 20 largest metro areas in the United States, and the Denver-Aurora-Lakewood metro area came in at No. 15.
A 4-bedroom home in the Denver-Aurora-Lakewood metro area costs approximately $ 630,000, while a 2-bedroom home costs less than $ 420,000, meaning the Homeowners can save approximately $ 158,500 by making the switch, the study found.
“However, when looking at downsizing city-to-city between major metro cities, there is potential for higher savings,” the STORAGECafé website reads. “Downsizing from a 4-bedroom home in the city of Denver to a 2-bedroom in Aurora is getting homeowners more than $ 330,000 in savings, while moving to a more cottage in Lakewood can save more than $ 210,000. ”
The savings in the Denver-Aurora-Lakewood metro area are very similar to those in the Chicago-Naperville-Elgin area, which came in at No. 14 with savings of $ 158,900.
Residents of the San Francisco-Oakland-Berkeley metro area are standing to save more by downsizing, the study found, to $ 406,600.
The complete results of the STORAGECafé study can be found here.