Denver metro on 100k (Colorado Springs, Aurora: 2013, renter, townhouse)

[Careerist]

Originally Posted by randomparent

I don't know why everyone thinks Centennial is so affordable. There are only four houses under $300k in all of Centennial right now.

I see a small handful of homes listed on Zillow between $0-$350,000. But there certainly aren't a lot. The further east you go, it seems you can get a bigger house in the low $300ks.

SE Aurora is probably going to be the best option based on what I'm seeing online.

[SkyDog77]

Originally Posted by randomparent

I don't know why everyone thinks Centennial is so affordable. There are only four houses under $300k in all of Centennial right now.

I have seen nicer homes there for under $400 than most other parts of the metro area.

[bluescreen73]

Originally Posted by ITNerd

I've been told to stay far far away.... However, last time I was there I drove thru the very south eastern portion and it seemed really nice!

Ahh the tired "Aurora's nothing but gangbangers and hookers" canard. Gets old after a while, and honestly people who repeat it to you are showing their complete and utter ignorance of the area. Does it have bad parts? Yup, but Aurora's shadiest parts honestly aren't any worse than some of the craptastic neighborhoods you'll find along the eastern I-70 corridor.

Should be mentioned that there were a ton of gangbangers arrested by the feds last year - down the road from Stapleton in North Park Hill (not Aurora).

[Tim Tim Tim]

I think a tell tail sign of a crappy neighborhood is the quality of the schools.

[Careerist]

Originally Posted by Tim Tim Tim

I think a tell tail sign of a crappy neighborhood is the quality of the schools.

School ratings are going to matter most for people with kids. Aurora Public Schools gets a bad rap, but most of Aurora (the city/community) isn't a bad area to live in. The worst areas are near Colfax and north of Colfax (but that applies to most cities where Colfax runs through it). Once you get south of 6th Ave, it's your run-of-the-mill lower-middle class suburbia and above.

The major reason Aurora is more affordable than the western suburbs is proximity to the mountains. Believe it or not, a lot of people move here for the mountains. I know, right? Blew my mind, too. So there is typically more demand for homes that are on the west side of the metro than on the east. Aurora is massive, and, for the most part, a pretty quiet suburb.

[Tim Tim Tim]

Originally Posted by Careerist

School ratings are going to matter most for people with kids. Aurora Public Schools gets a bad rap, but most of Aurora (the city/community) isn't a bad area to live in. The worst areas are near Colfax and north of Colfax (but that applies to most cities where Colfax runs through it). Once you get south of 6th Ave, it's your run-of-the-mill lower-middle class suburbia and above.

The major reason Aurora is more affordable than the western suburbs is proximity to the mountains. Believe it or not, a lot of people move here for the mountains. I know, right? Blew my mind, too. So there is typically more demand for homes that are on the west side of the metro than on the east. Aurora is massive, and, for the most part, a pretty quiet suburb.

I understand the school ratings themselves generally appeal to people with children, but in my experience it has been a very good indicator of the quality of the neighborhood over all. Generally speaking, good schools are generally in the better areas with less crime. Worse schools are generally in the lower class areas with more crime.

This, of course, is my own observation and not anything scientific but seems to be pretty accurate for me.

[Careerist]

Originally Posted by Tim Tim Tim

I understand the school ratings themselves generally appeal to people with children, but in my experience it has been a very good indicator of the quality of the neighborhood over all. Generally speaking, good schools are generally in the better areas with less crime. Worse schools are generally in the lower class areas with more crime.

This, of course, is my own observation and not anything scientific but seems to be pretty accurate for me.

Ah, I see. Well, I'll just take your word for it. How long have you been living in Aurora?

[Coloradomom22]

Originally Posted by Tim Tim Tim

I think a tell tail sign of a crappy neighborhood is the quality of the schools.

Your map is north of Hampden Ave and leaves a large portion of Aurora out. That is why many of us are advising southeast Aurora. It's too bad Aurora is so large as its stigma is applied to areas that are vastly different.

[mic111]

I'm going to be completely honest and give my frank opinion. Please know this isn't a knock on you but simply a reflection of reading the frustrations of people who live here trying to buy at the lower price ranges.

Also a little background may help. When I moved to Denver in the mid '90s I was very much in your shoes. However I had 20% down and moved into an apartment prior to buying so I had leisure time to look. I think I wrote 3 contracts (it may have been more but I only remember 3) and got the 4th house I wrote on. I also went through 3 agents. The first one insulted me - she thought I looked at too many homes. The second insulted a seller - called her an old biddy which I felt was unprofessional. The third managed to be professional the entire time. He lucked out because I actually bought in a neighborhood the first agent thought was an excellent choice for me and I loved it the entire time I lived there. I didn't lose the houses due to bidding wars but we just couldn't come to terms. Real estate is a complicated transaction.

When we bought this home in 2002 this was the second home we wrote on. I far preferred the first but couldn't come to terms. The seller wanted to keep the oil and gas rights and I wanted to be sure no one plunked and oil and gas well in my backyard (it technically met the legal offsets to houses at the time). We probably should have fallen out of contract on this house (sellers pulled a few minor things) but we were motivated to stick it through. In this market you really, really have to be motivated.

OP, you aren't going to be able to buy a home here. I know this hurts to hear it but I really feel it is true. You are going to be too nervous about the value or the area. The home buying here is crazy at the lower price ranges. You will have to make up your mind the hour you see the house. You will have to see the house within a few hours of it being listed. You won't have time to research the area.

If you had lived here a year and tried to put contracts on 6 or more houses then you would be in the proper mindset. But from where you are coming from, nervous about the cost, uncertain about the neighborhoods, probably nervous about the condition of the house, you won't win any of the bidding wars. There will be alot of people more motivated than you are for every less expensive home in a decent area. Also your down payment is low and you aren't an all cash buyer. The sellers will pick people with more down or all cash. They also know that first time buyers are nervous nellies and will chose someone more likely to stick it through.

More $.02. Aurora is very nice for the most part. Since you don't care about schools it is likely your best value. The worst thing I have heard is that the city isn't as well run as some. Note I said some, not most. They don't force the new developments to put in the trails, parks, public art and such as much as others. There is a bit of a stigma against Aurora from a long time ago but really makes no sense at all at this point in time. You will find million dollar homes there and value priced starts. It is a very large city. In fact it is the third largest in the state, more than double the size of the 4th largest which is Fort Collins. The bad areas there are no worse than the bad areas of Denver, Colorado Springs, Lakewood, or any of the other cities that have older run down parts. The only way you get away from a city having any bad areas is if it is small enough and new enough to not have any old run down parts. And the Denver Metro's bad areas are not what you are used to from rust belt or east coast city bad areas.

That all being said, recession proofing a house value can be important. Especially since you have never lived here and do not know if you will want to stay. When the economy goes bad the homes in good school districts hold their value better than those in poor school districts.

[MissTerri]

Originally Posted by randomparent

I don't know why everyone thinks Centennial is so affordable. There are only four houses under $300k in all of Centennial right now.

There are very few houses anywhere in the South Denver metro area under $300K besides Aurora.