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Old 07-27-2017, 06:50 PM
 
15 posts, read 14,035 times
Reputation: 10

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I received a job offer today with a company in Centennial. I'll be relocating from North Carolina with my husband (a stay at home dad) and two year old son.
Are there any good areas around Centennial to find a home for under $300,000 (Ideally under $275K)? I've been searching Zillow and home prices in the area are really high. My take home pay will be $90K, but we're on one income so money is tight.

I'm starting to worry that the area isn't affordable for a single-income family.

Does anyone have insight or suggestions on where I should be looking? I'd prefer a commute of less than 30 minutes each way.
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Old 07-27-2017, 08:52 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,710 posts, read 29,829,274 times
Reputation: 33301
No.
Welcome to greater Denver.
You're not in the CSA anymore.
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Old 07-27-2017, 08:59 PM
 
1,397 posts, read 1,146,756 times
Reputation: 6299
Quote:
Originally Posted by mformichelle View Post
I received a job offer today with a company in Centennial. I'll be relocating from North Carolina with my husband (a stay at home dad) and two year old son.
Are there any good areas around Centennial to find a home for under $300,000 (Ideally under $275K)? I've been searching Zillow and home prices in the area are really high. My take home pay will be $90K, but we're on one income so money is tight.

I'm starting to worry that the area isn't affordable for a single-income family.

Does anyone have insight or suggestions on where I should be looking? I'd prefer a commute of less than 30 minutes each way.
Honestly you are looking at $350k minimum for a house in a safe area with decent schools, really more like $375k even. I have two friends who each sold their houses in Aurora (and not the greatest area) for $350k with multiple offers. I think Denver might not be affordable for you.
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Old 07-28-2017, 06:51 AM
 
15 posts, read 14,035 times
Reputation: 10
That's what I suspected. Which is hard to hear - I think this job offer is a good opportunity for me and my career. It looks like homes around Colorado Springs are more affordable, but that's a long commute. Is it common for people to live in Colorado Springs and commute in? Or is traffic going to be awful?

Are there other areas I should be looking at or am I out of luck?
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Old 07-28-2017, 07:00 AM
 
Location: Morrison, CO
34,232 posts, read 18,584,601 times
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Maybe 7 - 10 years ago, but not now. Housing has really escalated in price. Maybe rent for a bit, and look around the area.
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Old 07-28-2017, 07:06 AM
 
Location: 0.83 Atmospheres
11,474 posts, read 11,562,622 times
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No you don't want to commute from the Springs.

If the job is a good career opportunity that is going to help long term, you should weigh that heavily. Would you regret not making the move in a couple years because you could have been making $120 by then.

Are you coming with any equity? Have you evaluated the difference in property taxes here vs where you live? Property taxes are pretty low here and may enable you to afford more house than you think.

I bought a $350K house when I was making $70K a year. I did not have kids at the time.
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Old 07-28-2017, 07:20 AM
 
15 posts, read 14,035 times
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That's good advice. Thank you! It's a good opportunity and I think in the next couple of years it will really pay off - plus I have family in the area and my husband and I have wanted to live in Denver for a long time...if the homes were more affordable this would be a no-brainer type of decision, but these costs are really throwing me.

I'll be selling my house in North Carolina, our realtor is estimating I'll get between $15-20K from that house, after fees. It's a seller's market out here too.
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Old 07-28-2017, 07:26 AM
 
Location: 0.83 Atmospheres
11,474 posts, read 11,562,622 times
Reputation: 11986
Yes, it's quite different out here. I was in Wake Forest recently and saw a house twice as big as mine on 5x the land for about half what my house would go for today.
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Old 07-28-2017, 08:13 AM
 
Location: Morrison, CO
34,232 posts, read 18,584,601 times
Reputation: 25806
Quote:
Originally Posted by SkyDog77 View Post
Yes, it's quite different out here. I was in Wake Forest recently and saw a house twice as big as mine on 5x the land for about half what my house would go for today.

Wash Park was really the place to be when I lived there if you wanted a city location. A friend of mine bought a fixer upper there about ten years ago, and has made out really well.
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Old 07-28-2017, 08:22 AM
 
Location: Denver CO
24,201 posts, read 19,215,171 times
Reputation: 38267
If you are willing to consider a townhouse rather than single family, that might give you some options
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