why do people who make good money..

[Dogmama50]

I just quickly ran some number through a mortgage calculator: $200,000 house, 20% down, 5% interest =$160k loan, $1,000 taxes, $1,000 insurance Gives you P&I $859 + Taxes & Ins. $167 = Total Payment $1026

Here's a link to WF's Mortgage Calculator, it just happens to be the one I have bookmarked, don't want to offend anyone with a bank choice.
Wells Fargo Home Mortgage Tools at LeadFusion.com - How much will my mortgage payments be?

[amanda87]

Originally Posted by suzco

Do I remember correctly that in one of your posts you said you are 23 years old?

I'd venture to guess that most of the people you said in your opening post in this thread "try and discourage the idea that an "less than average" income can buy a life (at all) in Colorado.." are far older, and have worked far longer to achieve that life; they didn't necessarily have it all, or expect to have it all at the age of 23.

If you can, more power to you, and you're likely well ahead of most of the 23 year olds working their way to living comfortably in Colorado, or anywhere else.

I'm very confused by your entire post.

Yes, I am 23 almost 24 and I don't remember saying anything about wanting to "have it all". Maybe you should go back and read my OP.

I actually implied quite the opposite, as I was asking why people who make more money think someone who makes less could not afford to live a fullfilling life the Denver/Boulder area(s).

[Count David]

Originally Posted by amanda87

as I was asking why people who make more money think someone who makes less could not afford to live a fullfilling life the Denver/Boulder area(s).

We moved here from CA in 2007 with $6K cash, no jobs, a packed moving truck, two cars, three kids, and dead weight (my sister-in-law ). I was 23 then btw.

We made it.

Lookie here:
-Rent, 2 bd/2bath condo, nice area, average schools: $775.00/mo
-Car Payments: $792.62/mo
-Gas (we run a delivery company): $610.66/mo (we get to write this off)
-Groceries (mom, dad, two kids, and a baby): $572.32/mo
-Car/renter's insurance (2 cars/full cov.): $251.48/mo (should drop $100/mo in ~ 6 months
-1 smart phone w/full data plan, 1 regular cell phone: $173.36
-Satellite, 3 boxes, 2 DVRs: $90.40
-Electricity: $69.47
-Internet (aircard): $51.99
-Life Insurance (two people): $74.48
-Credit Cards: $178.24
-Babysitter: $80/mo, gets us 4 kid-free nights/mo.

Right now we gross barely over $60K/yr, and after all those bills, still have about $800/mo to play around with. We'll have even more discretionary income (like $1K/mo more, to go towards an upgrade in housing perhaps -- that is, if we don't leave Denver) once the car payments and credit cards are done.

I consider my life pretty fulfilling, though I work long and crazy hours, we still have time and money to go to ballgames, have family nights, and go out as a couple, or by myself ().

I know a family with a 10 year old son, who are raising him well on a cook and busgirl's salaries. They have no debt, no car payments, short commutes in cheap/paid off cars, and a modest two bedroom apartment. They are some of the happiest people I know, and they spoil their son rotten.

It all boils down to priorities and lifestyle.

If we can do it, you can do it.

[zenkonami]

It's all about trade offs. No free lunch.

It's more expensive to get more space here in Denver...more house, as it were...but the quality of life can be very good if you take advantage of what's here. Employers don't pay as much here for comparable work to places where you could earn a lot more (and live on a lot less.) On the other hand, we do have a decent amount of free activities, fantastic parks, inexpensive outings, festivals and other things to keep you occupied that don't have to cost an arm and a leg...but you do have to keep your ear on the tracks, as it were, if you want to find out about them.

[zenkonami]

It's all about trade offs. No free lunch.

It's more expensive to get more space here in Denver...more house, as it were...but the quality of life can be very good if you take advantage of what's here. Employers don't pay as much here for comparable work to places where you could earn a lot more (and live on a lot less.) On the other hand, we do have a decent amount of free activities, fantastic parks, inexpensive outings, festivals and other things to keep you occupied that don't have to cost an arm and a leg...but you do have to keep your ear on the tracks, as it were, if you want to find out about them.

[Katarina Witt]

Originally Posted by Timmyy

Boulder you will probably need to make a good salary to live there. There are many areas in Denver you could thrive on $60k to $70k a year. The housing market here compared to Texas is lot more expensive. You get a lot less for your money than you do in Texas when it comes to buying a house.

Originally Posted by 80skeys

<snip>

In Denver a $70k salary is a good, decent salary.
In Pueblo that salary is a great salary.
In Boulder it's okay but not that good and you'll have trouble buying property.
In Grand Junction it's okay but not that good (the cost of living is inflated due to the oil business.)
In Aspen and many of the well known mountain towns $70k is like minimum wage compared to the everybody who lives and owns property there.

I'd like to try to dispel the idea that Boulder is ridiculously more expensive than Denver. There are parts of Boulder that are very expensive, and parts that are very reasonable. There are parts of Denver that equal the expensive parts of Boulder.

[amanda87]

@David Aguilar - nice! That would be awesome if we could find something in a good area to rent for around that price. However, anything under $1000 month is budgeted for. That sounds about right but, WOW low electricity bill - how do you do it!? lol.

Also, the babysitting is the only thing we worry about because we have family here and for the most part that helps alot, we do use drop-in daycare every now and then which runs about $35/day.

[Count David]

Originally Posted by amanda87

@David Aguilar - nice! That would be awesome if we could find something in a good area to rent for around that price. However, anything under $1000 month is budgeted for. That sounds about right but, WOW low electricity bill - how do you do it!? lol.

Also, the babysitting is the only thing we worry about because we have family here and for the most part that helps alot, we do use drop-in daycare every now and then which runs about $35/day.

Low electricity bill I think is from no A/C (and constantly turning lights off ). It goes up to like $100 in the winter lol. Includes gas too.

$1000 for rent is more than fine as long as you aren't expecting a single family house with 3+ beds, 2+baths on a 7500+ sq ft lot. Think more along the lines of 900+ sq ft apartments (even 3 bed/2 bath apartments, which in some good areas can go for less than $1K here; We used to rent one in South Aurora/Cherry Creek Schools).

Not having family here sucks. We have to rely on probably the worst "friends" we've ever had to take care of that.

[bikinmikein]

At any rate, it is nearly dollar for dollar in our book.

Your book needs some work and is way wrong.