The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: wealthviahealth on October 18, 2019, 06:28:24 AM
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I recently located to Denver after living in the Bay Area for a number of years.
Housing is not cheap in the greater Denver area but I cant help but feel that I am missing out by not purchasing a home.
I am not certain how long I will live in the greater Denver area but have no plans to move/ goals to live elsewhere.
Buying a home could allow me to rent out 1-2 rooms for roommates, or airbnb it while I travel for work which is several times a month.
Renting these past 5 years has allowed for tremendous flexibility but has come with intense fomo thinking about how much equity I would otherwise have in a home.
Curious to hear what folks on hear think about the greater Denver area real estate market. Over valued or poised for tremendous growth?
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The market here has cooled down a bit compared to a few years ago so you should have some decent options.
Colorado is a great place to live and the Denver metro area seems to hold it's value well but I would not go into it expecting to make big money in a couple of years like we did in the 2010 - 2016 time period.
Personally I expect our property for the next few years to slightly out pace surrounding areas and the national average. Of course I could be wrong and it could go to the sky or fall like a rock.
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Back in the eighties, a friend of mine bought her Denver condo for $25k. She put it on her AMEX. Back then a lot of Texas was in the crapper too, due to a flagging oil industry. I suppose it's more diverse now and less likely to happen again, but I've never forgotten that.