Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Colorado Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

23
Posts
10
Votes
Frank R.
  • Denver, CO
10
Votes |
23
Posts

First timer. Buy or keep renting. Boulder ,CO

Frank R.
  • Denver, CO
Posted

I am a potential first time home buyer trying to make the decision if I should buy or keep renting. A little bit about me. web developer in Boulder have been with my company for 2 years. Currently rent a room in a house at $625/month with a 10 minute bike ride to work.

Income: 60k/year
Current liquid savings: 25k
Investment accounts(401k/roth ira): 26k
Able to save $1500-2000/month

I plan to stay in boulder for the next 2 years and then work remotely(outside of boulder). At that point I would like to rent my place out and keep it as a long term rental. Ideally I would like a 2br condo in boulder proper to help subsidize my mortgage. Doing some preliminary research tells me that the current prices are out of reach (2bd condos start at $280-250k) and based on what current rental rates are, wouldn't even cover my mortage if I were to buy. I do know their is an affordable housing program that I'd qualify for middle-income, but not low income. If I get a 2br then I could try and rent out the other room at market rate.

Just trying to get a little more insight on what some options are, I'm very green.

Thanks for reading

Loading replies...