Considering a move to Colorado | Golden Skate

Considering a move to Colorado

Bookseller

Final Flight
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May 28, 2018
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United-States
I currently live in upstate NY, about 75 minutes from NYC. I am in the process of putting my house on the market here. It is a fairly simple, not standard development type house that isn't going to sell for a huge amount of money. It was designed and built in the mid to late 80s and styles have changed. I have two daughters and two grandkids living currently in the Boulder area, so relocating to Colorado is a potential goal. The Boulder/Denver area seems to have skyrocketed in price in the last 6 or 7 years. I will be looking for a place that I can buy at a very low price. So far the only places that I've seen that might work are in Colorado Springs area and way up near or in Wyoming in the Cheyenne area. I know that not everything shows on the public advertising websites like zillow and trulia. So it probably makes the most sense for me to contact a realtor and give them my very difficult parameters for buying.

The estimated time for actually finding a buyer and selling my house is 3 to 4 months, at best. And I can't buy until this place is sold. But I am trying to determine whether or not this location is even a possibility.

If any of you have ideas for how I should go about this, what towns and neighborhoods might work or what realtors I should contact, I would appreciate any and all feedback. My budget is low. Probably not looking seriously at anything over $150,000. Yes, I know....try not to laugh! But I have seen some condos and age restricted listings that appear to fit my parameters. But that is from superficial perusing of online ads.

So questions: What is the Colorado Springs area like? Is there any location within 2 hours of Boulder that I should be looking at? We are older and need access to health care, so don't really want to be in a rural area where we have to drive 2 hours to a doctor or hospital. Beyond that, proximity to Boulder, and a pleasant and safe neighborhood are the main goals along with cost of living. I also plan to fly east at least twice a year, so proximity to the Denver airport is a plus.

So is this an impossible mission, or is this something I can actually accomplish? I welcome all comments and opinions! Thank you!
 

Ross74

Medalist
Joined
Oct 8, 2015
Bookseller, this is a tough one. I think you probably realize how unlikely it would be to get a home for that price near the front range. I thought maybe some of the small towns along I-70 east of Aurora might be a possibility, places like Bennett and Strasburg, because the interstate would give easy access to services in the suburbs, as well as to the airport, but the only things I've seen in a search appear to be mobile homes, and even those often have a higher list price. The same thing for places to the north like Ft Lupton, Ft. Collins, and Greeley. I'd be curious about the places you saw in Colorado Springs because it would have to be an iffy area. I'm not sure about the restrictions on posting certain links here, so I will be sending something by pm.
 

Bookseller

Final Flight
Joined
May 28, 2018
Country
United-States
Thanks! I've seen some condos, but only on listings. I am thinking that contacting a couple of realtors for an honest assessment of my chances might be a good move. I've never been to Colorado Springs. What kind of iffy areas are there? Last year I looked at ads for Greeley and found a few possibles, but now there seems to be nothing. This may be the impossible mission, but I don't want to give up without a fight.

But it's my unfamiliarity with the area around Colorado Springs that prompted this query to those who do know the area. I appreciate any and all info and opinions.
 

Ross74

Medalist
Joined
Oct 8, 2015
Thanks! I've seen some condos, but only on listings. I am thinking that contacting a couple of realtors for an honest assessment of my chances might be a good move. I've never been to Colorado Springs. What kind of iffy areas are there? Last year I looked at ads for Greeley and found a few possibles, but now there seems to be nothing. This may be the impossible mission, but I don't want to give up without a fight.

But it's my unfamiliarity with the area around Colorado Springs that prompted this query to those who do know the area. I appreciate any and all info and opinions.

Here's a discussion on the more inexpensive areas of Colorado Springs.

Hopefully someone will stop by who is familiar with the area.
 

elbkup

Power without conscience is a savage weapon
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Mar 3, 2015
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Word of mouth regarding properties for sale in that area would certainly help alot since the type of unpublished property you are seeking would sell quickly... ask your relatives to alert their friends/neighbors that you are making the move and are looking to buy. I did this type of move about two years ago here in the NE; sold my small home (took 3 months total), then bought another home I learned about by chance from family friends; it was an older home that had all the "must haves", liveable but needed some work. Sellers were asking a fair price considering what needed to be done. I made the decision to buy it immediately, then got a small equity loan with low payments from the bank for the larger fixes, the smaller jobs being done out-of-pocket, over time, to my taste. Very happy with how it turned out. GOOD LUCK!!
 

Bookseller

Final Flight
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May 28, 2018
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My daughter and her husband are going to be looking for a house next year. The prices have outstripped their ability to save for the down payment, so they know they are looking at a higher mortgage. But they are going to try to form a relationship with a realtor to find something affordable. They live in Boulder in University Housing, so they are totally unfamiliar with Colorado Springs. I have told them to watch for a 2 family house, but in the Boulder/Denver area they tend to be astronomical because they are bought as investments. It's a tough market for the buyer. I am assuming a condo is the best that we can hope for, if we are lucky enough to find an affordable one. I do plan to contact realtors. And I am talking to people who live in the general area. I want to have some idea of where we might end up before I even list my current house.

Thanks so much for your input. I am happy to get any advice or opinions that might help in this "impossible mission."
 

Bookseller

Final Flight
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Here's a discussion on the more inexpensive areas of Colorado Springs.

Hopefully someone will stop by who is familiar with the area.

Interesting discussion! It took place 7 years ago, though. So not sure how relevant it is now. The neighborhood could be worse or much better. I do see that cheaper condos are in that southeast area. I will try to fly out there at some point and visit the Springs and see what it actually looks like. I have never been there. I've only been in Boulder and Longmont and Louisville and a tiny bit of Denver. And the airport. Most of the cities seem to be on an upward trend, rather than down, so it will be interesting to find out whether that is true of SE Colorado Springs as well.

I am just going to start calling realtors and ask them what that same money will buy now. A whole lot less, I imagine, but maybe something that will work. We'll see!
 

elbkup

Power without conscience is a savage weapon
Medalist
Joined
Mar 3, 2015
Country
United-States
This is a challenge, no question; market sounds very difficult ... hope your agent is resourceful, creative and has angel's wings.... all the best!
 

Sam-Skwantch

“I solemnly swear I’m up to no good”
Record Breaker
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Dec 29, 2013
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I understand this option isn’t for all but I’m going to throw it out there for the sake of discussion :think:

One of my freind’s who lived in Denver teamed up with their brother and sister to help their Mom move out to Colorado. So here’s what they did. They sold their mom’s property in Massachusetts and used a lot of that money as a down payment on a place in the mountains. The kids helped take on the mortgage cost but used it as a vacation house too. Mom lived in the home just outside of Breckenridge and the family came and visited rather frequently to enjoy the mountains.

The value of the house has increased since they first bought it making the investment a wise move for all involved. It actually more than doubled over an 8 year period. During holidays Mom would go stay in Denver for a few days and rent out the vacation home and made enough to basically cover a nice portion of her mortgage payments.

It wasn’t always the most relaxed living situation but she loved the mountains and the easy bus routes and living of summit county. It’s also not really all that close Boulder (2hrs) but I bet people would make the drive pretty frequently to go hiking and skiing.

Just a thought. I know it is a bit extreme but I’ve seen it work. Colorado is an amazing state!! Good luck!!
 

Bookseller

Final Flight
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May 28, 2018
Country
United-States
It's a great idea. Unfortunately, neither of my girls is in a position to contribute. In fact, I had suggested that my oldest daughter and her husband look for a 2 family. When my house is sells I will have a substantial down payment to contribute. But two family homes are astronomical so not likely that we can pull that off. So I am going to pursue this and see if there is any way to make it work. There are many positives to being in Colorado, but house prices are a problem. I wish that we could all pool resources and find something together, but it probably won't happen. Two hours from Boulder isn't a deal breaker. But at our age,we need to be within a reasonable distance from decent health care. So remote locations are less appealing. I'm going to try hard to make this work, but I am prepared to go to plan B if it doesn't. I am open to all suggestions, opinions and information that I can get. Thank you so much!
 
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