$187. This is the average monthly electricity bill for households in the Denver area. A recent gas bill from a retired couple I met had an even more striking number. After seeing the first heating bill of the winter jump significantly higher than usual, they began to reconsider whether to continue maintaining the single-family home they had lived in for nearly 30 years.

Such concerns are common as retirement approaches. The choice is whether to keep the current home or move to a condo, townhome, or an active senior community for residents aged 55 and older. This decision is not just a matter of preference; it also involves changing the structure of fixed monthly expenses.

A single-family home offers spacious living and independence, but it comes with the burden of covering all heating, cooling, and repair costs on your own. In contrast, condos and townhomes require homeowners association (HOA) fees, but the building management takes care of exterior maintenance, roofing, and landscaping. While this is advantageous, the fixed monthly management fees can also be a burden.

The actual numbers show a clear difference. The HOA fees for condos and townhomes in the Denver area jumped from $291 per month in 2016 to $546 per month in 2026, and downtown condos typically range from $300 to $700 per month. Meanwhile, the average HOA fee for single-family homes across Colorado is about $220 per month. This means that moving to a condo does not necessarily reduce the burden of management fees.

The home prices themselves also need to be considered. As of March 2026, the median price for townhomes and condos in Denver County was $419,950, while single-family homes were $679,450. This means single-family homes are about 62 percent more expensive. It is a clear advantage that downsizing can help secure retirement funds equivalent to this price difference.

• Single-Family Home - Significant profit from resale, but full responsibility for heating, cooling, and repair costs
• Condo/Townhome - Lower initial purchase price, but HOA fees are rising quickly
• Active Senior Community - Management and amenities are provided, but additional costs apply

Property taxes have a relatively favorable aspect. Colorado's residential property assessment rate is 6.7 percent, which is lower than in other states. If you are over 65 and have owned and lived in the same home for over 10 years, you can apply for the Senior Homestead Exemption, which allows you to deduct half of the taxable value of your home, up to $100,000. Many people in Denver County save about $700 to $1,000 annually due to this exemption.

It is also important to consider active senior communities. While the management office takes care of lawn maintenance, snow removal, and exterior repairs, the management fees are often set at a level similar to or slightly higher than condos. However, many of these communities include gyms or community events, so it is reasonable to evaluate the convenience received each month rather than just comparing costs. Since Denver is prone to hail damage, homeowners insurance premiums may also be higher than in other areas, so if you plan to move from another state, it's wise to check this in advance. If you previously lived in a state with high property tax rates, it's safer to recalculate the overall cost of living, including insurance and management fees, rather than just feeling reassured by Colorado's lower assessment rate.

In summary, if you maintain a single-family home, you must accept the volatility of heating and repair costs, while moving to a condo or townhome means taking on a new fixed cost in the form of HOA fees. Which option is more advantageous may depend on how you plan to utilize the profit from the sale for retirement funds and how predictably you want to manage your monthly fixed expenses.

The market prices and fee information in this article are based on specific reference points, and there may be differences by county and community. It is advisable to consult with real estate and tax professionals before making any contracts or applying for tax exemptions. This article does not constitute investment or legal advice.