Equity in their current homes doesn’t buy what it used to, so some figure the prudent move is to adapt what they have. That makes the market even tighter.
When they bought their Highlands Ranch home in 1998, Kent and Yvonne Higgins and their children fit comfortably into the five-bedroom, multi-level house that was typical in the sprawling suburban development.
But life’s milestones came and went, and kids grew up and struck out on their own. The couple paid off their mortgage and had the entire house to themselves, though Kent’s multiple knee replacement surgeries reminded him that the 16 stairs between floors wouldn’t be getting any easier to negotiate.
And eventually, they arrived at a common fork in the road: Was it time to move to something that better fit their lifestyle? After looking at their choices in Colorado’s superheated seller’s market, they came away so discouraged that they’re starting to consider another option: installing an elevator.
Elyse Howard
The high cost of home has been a fact of life in Eagle County for years and it’s just as much of a problem around the United States. Advocating for policies that will increase access to and supply of affordable homes in our community is an important strategy. Through our five-year Cost of Home Campaign, Habitat for Humanity is focused on finding collaborative solutions and promoting policies to improve access to affordable homes for 10 million individuals nationwide.
Housing affordability is one of the biggest issues facing our state. According to Shift Research Labs, one in seven Colorado households spend more than half their income on housing. No matter the region rural, resort, urban and suburban between 2012 and 2019, Colorado fell from being one of the most affordable states to one of the least affordable states in the country based on median income to median pricing, according to Colorado Association of Realtors.