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Old 08-07-2008, 12:18 PM
 
Location: San Ramon Ca
34 posts, read 75,271 times
Reputation: 17
Default What does it cost to live in Colorado?

Looking to move to Parker and I see what homes cost to buy and rent, but I was really wondering what it really took income wise to make it there? If I had a home or rent payment of $1800.00 and all the regular bills, it looks like around $70.000 K a year would get you by. Not rich by any means but you would be OK? Am I way off base?
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Old 08-07-2008, 01:21 PM
 
Location: 80919 Rockrimmon yO!
2,738 posts, read 4,356,805 times
Reputation: 1189
Nah, you're just about right on target. For a single person here, you'd have to make that much to own a home and pay your bills.
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Old 08-07-2008, 01:27 PM
 
5,748 posts, read 6,801,465 times
Reputation: 4356
In that area, you should be able to rent something suitable for less than $1800. I just vacated a beautiful, 2-year-old, 4-bedroom house on a culdesac with a huge yard for $1250. Rents are all over the place, so take your time looking, and you might luck into something similar. Just be sure to make sure the homeowner is financially solvent; otherwise you could end up in a foreclosure mess and be out on the street (happened to an acquaintance this past fall).

As far as annual salaries go, I'd say $70k is entirely doable, but it depends on the area and your other expenses. If you're not carrying any consumer debt, I'd think that $70k would be comfortable; however, you haven't mentioned how many people you'd be supporting with that income, and a household full of kids could put a strain on your budget.
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Old 08-07-2008, 02:12 PM
 
Location: San Ramon Ca
34 posts, read 75,271 times
Reputation: 17
Thanks. Yes I have 2 kids. My wife will be working as well and we expect to be making much more than that but I want to be realistic on the fact that I am from out of town with no contacts. I make more than 2X that figure where I am but I know Colorado wages are less. I have gotten in over my head before with a big home payment and debt and I want to make sure I do not go down that road again. I will be comming with little to no debt and 2 hungry kids to feed. I have been in construction for 20+ years and currently manage projects like high rise retail and condos or something like what the resorts are doing with the new big buildings. I am still young however and can use my hands to do any and all phases of home repairs and additions. I figure I will find a job like I have now in the white collar world of big budget construction management or I will get my hands tough again and work for a basment finisher or remodel company?
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Old 08-07-2008, 03:10 PM
 
Location: Colorado Springs, CO
2,220 posts, read 3,215,841 times
Reputation: 1621
Quote:
Originally Posted by out of bay or bust View Post
Thanks. Yes I have 2 kids. My wife will be working as well and we expect to be making much more than that but I want to be realistic on the fact that I am from out of town with no contacts. I make more than 2X that figure where I am but I know Colorado wages are less. I have gotten in over my head before with a big home payment and debt and I want to make sure I do not go down that road again. I will be comming with little to no debt and 2 hungry kids to feed. I have been in construction for 20+ years and currently manage projects like high rise retail and condos or something like what the resorts are doing with the new big buildings. I am still young however and can use my hands to do any and all phases of home repairs and additions. I figure I will find a job like I have now in the white collar world of big budget construction management or I will get my hands tough again and work for a basment finisher or remodel company?
Good that you have little debt.

Banking on employment in any line of work touching construction or real estate (commercial or residential) is a very shaky proposition right now and for the foreseeable future. You'll want to have a good plan B for feeding those kids.
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Old 08-07-2008, 08:26 PM
 
Location: California (Husband was born in Colorado)
10 posts, read 33,610 times
Reputation: 12
Quote:
Originally Posted by formercalifornian View Post
I just vacated a beautiful, 2-year-old, 4-bedroom house on a culdesac with a huge yard for $1250.

Wow, that's what my husband and I pay for a 700 sq ft apartment in CA. You're very very lucky!!!
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Old 08-08-2008, 03:59 AM
 
15,623 posts, read 9,308,771 times
Reputation: 8564
Quote:
Originally Posted by colorado native View Post
Well, to be fair, GearJammer, we had our fair share of Texans, too, before you got here.
Hey!
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Old 08-08-2008, 07:00 AM
 
Location: 80919 Rockrimmon yO!
2,738 posts, read 4,356,805 times
Reputation: 1189
yeah, wow that was a blatant attack.

Personally, if I lived in Texas, I'd certainly want to move to Colorado too!
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Old 08-08-2008, 09:24 AM
Status: "Corn well over knee high!" (set 8 days ago)
 
Location: Foot of the Rockies
67,298 posts, read 54,882,833 times
Reputation: 18705
Agreed! The Colorado forums have always been among the most respectful on CD. Let's keep it that way. Not so much of this "I was here before you stuff".
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Old 08-08-2008, 10:46 AM
 
Location: Wherabouts Unknown!
7,429 posts, read 10,510,461 times
Reputation: 8213
out of bay or bust asks: What does it cost to live in Colorado?

An arm and a leg and your first born child!
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