Denver apartment prices rise 7.4% so far in 2015!

[mic111]

[quote=djwenger;38347054]

Originally Posted by randomparent

Why is that? I think there are lots of beautiful places to live in the U.S., but I don't understand why someone would suddenly find Denver unappealing at retirement.[/QUOTE

It isn't because they don't like Colorado.. But they're all complaining about the cost of living.

This is understandable. Denver is rapidly becoming an area of the more affluent. People who moved here in the '90s or earlier are sitting on a pile of equity that is hard to ignore when they can cash it out and live off of it in retirement. The people replacing them from out of state are often bringing their own pile of equity from the coasts so don't see it quite the same.

However the quality of life here is very high. If you live here a long time it is tempting to take it all for granted. Moving might result in a shock of the wrong kind if you truly enjoy all the area has to offer. But many may enjoy a lower priced house especially if they are now on a fixed income.

Colorado does have the nice feature of reduced property tax if you are a senior (65+) who has been in your home for 10 yrs so that has to be factored in.

[dnvrsoul]

Originally Posted by JohnnyDenver

News 9 this morning: Denver rental and housing at an all time high.

saw that too....I thank my lucky stars I own.

[DenverBound41]

I love Denver and when I moved here in 2008 housing was obviously much more reasonable. If I was looking to move again circa 2014-15 I think I would pass on Denver. Luckily I own and my house is probably worth $100k+ more than when we bought in 2010, but had you told me then that this house would be worth what it is now I would've thought you were mad. No way in hell would I give you what it would sell for now. I guess my point is that while I thoroughly enjoy Denver, IMO it isn't great enough to justify what it costs now vs the salary most occupations pay here.

[JohnnyDenver]

Originally Posted by DenverBound41

I love Denver and when I moved here in 2008 housing was obviously much more reasonable. If I was looking to move again circa 2014-15 I think I would pass on Denver. Luckily I own and my house is probably worth $100k+ more than when we bought in 2010, but had you told me then that this house would be worth what it is now I would've thought you were mad. No way in hell would I give you what it would sell for now. I guess my point is that while I thoroughly enjoy Denver, IMO it isn't great enough to justify what it costs now vs the salary most occupations pay here.

I have bought several houses since the Air Force transferred me here in 1981. First house I bought was in the Club Crest section of Arvada. Paid 83k in 1983. It would probably sell for 325k today and I wouldn't buy it back for that amount.

[ShampooBanana]

Originally Posted by Littlekw

Nobody's opinion matters more than anyone else's, I was just stating mine. The "native" reference was just to emphasize I've been in the state long enough to have formed my opinion over the years.

I don't hate Denver, it's just not for me. It obviously is for a lot of people since so many live there and continue to move there. Denver metro is just that blob of city that I don't have much use for. I happen to really like Colorado Springs, that's why I live here. A lot of people don't like Colorado Springs. I happen to really like the rural parts of the state because until I moved to Colorado Springs that's the type of place I came from.

The only reason I get peeved when people say "I love Denver" when I tell them I'm from Colorado is because more than once when I explained I don't live in Denver I've gotten a reply along the lines of, "I thought you said you live in Colorado." Obviously it's ignorance on their part but it's happened a few times and it rubs me wrong.

I will simply be more careful in stating my opinions in the Denver thread in the future. Denverites seem to get defensive about their city, as they rightly should. Pride in community is a good thing and I know I defend Colorado Springs against the many who rag on it.

I can relate. Coming from Illinois, everyone pretty much assumes you mean "Chicago" even if that's not at all where you lived and Chicago only covers one tiny corner of the state.

[himain]

Housing rental prices are crazy too. You've got 1000 sq ft houses going for $1500+ and then 3000 sq ft houses going for $2500+. It's just me and the bf and our budget is $2k. We have no need for a 2500+sq ft house. We're looking to move out of an apt into a house for June 1st.

[JrzDefector]

Originally Posted by davebarnes

Interesting.
I have spent a lot of time "looking at places to retire". You know, Money magazine, etc.

At age 66, I find the City & County of Denver to be the place.
1. Weather. I grew up in New England so the Winter weather here is mild.
2. Bugs. We don't have any. I can enjoy Summers outside on our patio that has no screen.
3. Humidity. Low.
3. Taxes
a. real-estate - reasonable. Lower than New England, lower than Texas.
b. income - very reasonable. OK, not zero as in NH, but still low (and $20K of pension is not taxed).
c. sales - average. Yes, not zero as in NH. But, my brother's property more than make up for that.
4. Medical care - lots of hospitals very close. I am in Kaiser and they are OK. My recent bout with colon cancer was handled well.
5. Political climate - the blues are taking over. This is good.
6. Not in the former Confederate States of America where I would never live.

We do own (100%) our current house so that does make a difference.

I'm trying to get my dad to move here from Jersey. Can you talk to him? LOL

[JrzDefector]

I think I caught the home-buying trend on its way up some two years ago. I paid 30K under the appraised value of the home, and my mortgage is about what my rent was on a similar house in a far worse neighborhood on the other side of town. From a financial perspective, I really couldn't justify renting anymore.

Now, don't get me wrong. I could downsize in a heartbeat and find an apartment without much hardship, but a house suits my lifestyle. I like to (attempt to) garden, work with my dogs, collect books (ok, probably "hoard" is a better word), etc. I also work from home, so a quiet environment is essential - I bought a house with a basement office where I can't hear anything that goes on outside for the most part.

The one good thing about this overheated market for me is that if I run into financial trouble, I can rent out another room (already have a friend living with me, paying rent) and have most of my mortgage covered.

Still, even with all that, homes are cheaper here than in my home state and the taxes are shockingly low. I pay maybe a fifth of what one would pay on a similar house in Jersey, no joke.