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Old 01-16-2013, 04:08 PM
 
16 posts, read 53,734 times
Reputation: 26

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I've read a few threads where many have complained about the high cost of living in Colorado. What is so high about it?

I was wondering what amount per year most think will be required for a retired single guy, 48 years old in the Pagosa Springs to Durango area.


I've researched property/home prices and they seem much lower than the mid Atlantic. I should be able to pay cash for a place up to about 200K.



With no mortgage payment and no debts, what's a reasonable yearly income to live a middle class existence in this area? I have a pension and probably don't need to work, but will probably want to do something a few days a week anyways.
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Old 01-16-2013, 05:56 PM
 
Location: C-U metro
1,364 posts, read 2,722,641 times
Reputation: 1160
Property taxes seem cheap enough but the utilities, household goods and food will be very high. When I traveled through the area a few years ago, I found that NM had cheaper groceries than Durango. If you can pay cash for a 200k house, you might be fine but unless you have 70k a year coming in, I think you'll be a little wanting in town. I say that as at 40-50k you'll be perennially behind the "Joneses" who are in debt up to their eyeballs even making 150k a year.
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Old 01-16-2013, 06:24 PM
 
Location: The Berk in Denver, CO USA
13,947 posts, read 20,190,335 times
Reputation: 22564
Default It depends

Low
natural gas
gasoline

Medium
sales tax
income tax
real-estate taxes
electricity
car insurance
home insurance
phone
cable

Higher
food

High
automobile registration fees
water
real estate

Last edited by davebarnes; 01-16-2013 at 07:24 PM..
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Old 01-16-2013, 07:05 PM
 
2,253 posts, read 6,019,284 times
Reputation: 2622
Wink Durango real estate realities

$200,000 will buy a condo outside of Durango, and if lucky a small one within town itself. It could also afford a modest single family home at a good remove from town. If one's tastes are simple, and flexible on location, then all is possible and fine. Otherwise, welcome to Colorado real estate.

Above all other factors the price of real estate in and near Durango that dictating the high cost of living, in consideration of relatively low local wages. If retired, then this less of a concern, but it will still require a substantial investment to buy into the real estate market with any degree of comfort.

Property taxes are low, at least, with most goods and services roughly matching the national average, with naturally some variance in specific circumstance. Although expect that Durango will generally prove more expensive than larger markets such as the Front Range, due its isolation. That could be a deciding factor as well in such as health care, if this is or could be a concern; if a regional hospital in Durango, but this really another far longer topic.

So, assuming happy with a $200k Durango (area) home, it should be doable. Only expect expenses to be lower than in New York City, but overall somewhat a premium to what could be had elsewhere in flyover country. (And those thinking of everything between NYC and LA as such then missing out on some great country. Their loss).
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Old 01-17-2013, 02:54 PM
 
16 posts, read 53,734 times
Reputation: 26
Quote:
Originally Posted by Idunn View Post
$200,000 will buy a condo outside of Durango, and if lucky a small one within town itself. It could also afford a modest single family home at a good remove from town. If one's tastes are simple, and flexible on location, then all is possible and fine. Otherwise, welcome to Colorado real estate.

Above all other factors the price of real estate in and near Durango that dictating the high cost of living, in consideration of relatively low local wages. If retired, then this less of a concern, but it will still require a substantial investment to buy into the real estate market with any degree of comfort.

Property taxes are low, at least, with most goods and services roughly matching the national average, with naturally some variance in specific circumstance. Although expect that Durango will generally prove more expensive than larger markets such as the Front Range, due its isolation. That could be a deciding factor as well in such as health care, if this is or could be a concern; if a regional hospital in Durango, but this really another far longer topic.

So, assuming happy with a $200k Durango (area) home, it should be doable. Only expect expenses to be lower than in New York City, but overall somewhat a premium to what could be had elsewhere in flyover country. (And those thinking of everything between NYC and LA as such then missing out on some great country. Their loss).



I'm not really looking at Durango, more of an out of the way place where land is cheaper. I've looked at some land near Pagosa Springs and there appears to be a buyers market there, as lots of land was bought by out of state speculators before the last crash. I'ts notlike I have my heart set on the area, but I plan to go through it this spring. It's on the list at this point.
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Old 01-17-2013, 03:00 PM
 
1,059 posts, read 1,634,577 times
Reputation: 1928
It's easy to make some of your own comparisons for food, fuel, and real estate, just do a little research. Most supermarket chains these days put their weekly sales flyers on line. It's easy to compare them in different locations across the country.

I currently live around Pittsburgh, but will be moving to Durango in June. When I compare food prices, I find Durango's food prices to be about the same, Durango's gas is however much cheaper. real estate on the other hand is 20% higher.

Everything is relative so what somebody tells you is expensive in Durango may be cheap for you... or vice versa. I would definitely recommend doing the research and compare key items to what you typically pay in your current location. It's the only way to get an accurate picture relative to your current situation.
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Old 01-17-2013, 05:35 PM
 
16 posts, read 53,734 times
Reputation: 26
Quote:
Originally Posted by SoButCounty View Post
It's easy to make some of your own comparisons for food, fuel, and real estate, just do a little research. Most supermarket chains these days put their weekly sales flyers on line. It's easy to compare them in different locations across the country.

I currently live around Pittsburgh, but will be moving to Durango in June. When I compare food prices, I find Durango's food prices to be about the same, Durango's gas is however much cheaper. real estate on the other hand is 20% higher.

Everything is relative so what somebody tells you is expensive in Durango may be cheap for you... or vice versa. I would definitely recommend doing the research and compare key items to what you typically pay in your current location. It's the only way to get an accurate picture relative to your current situation.


Believe it or not, this site is part of the my relocation internet research process
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Old 01-17-2013, 06:33 PM
 
Location: The Berk in Denver, CO USA
13,947 posts, read 20,190,335 times
Reputation: 22564
Default Don't worry about it

a lot of people in CO smoke pot
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Old 01-17-2013, 06:46 PM
 
16 posts, read 53,734 times
Reputation: 26
Quote:
Originally Posted by davebarnes View Post
a lot of people in CO smoke pot


Did YOU reply to the wrong thread?



I have "Nuclear Power" to blame
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Old 01-17-2013, 06:52 PM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,835,798 times
Reputation: 9316
While visiting Colorado, you might consider travelling thru the Paonia -Crawford - Hotchkiss area. The north fork of the Gunnison River flows thru there and it is rather agricultural. Quite a bit of fruit is grown in that area, along with several wineries. To my eye, that area has some of the finest scenery in the state of Colorado.
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