Insane housing situation

ntromano

Hi, I am wondering if anyone in the Denver area is in the same boat.

My husband and I have been married for two years coming up June 9th! That makes me happy.

All this time, we have rented a condo with the hopes of buying. We have some money saved up, and we would get help from our families, but...we have looked on and off the last few months, and everything we like--even modest homes--seem to be getting more and more expensive. I am starting to get really discouraged, but I know that we will find something when the time is right for us--even if that means we wait 1-2 more years and save an even bigger down payment.

The catch here is that our lease will be up soon. I know the owner of our unit is going to sell in the next few months. We are considering the following options: 

1. Living with my parents, who we both love (but let's face it: living with family can be tricky even in the best circumstances.) Has anyone done this as a temporary measure to save extra money?

2. Renting a house (expensive!) 

3. Renting an apartment in a more suburban area to save money

Anyone know of great and inexpensive apartments/housing in the Denver-meto area? 

Any ideas would be much appreciated. 

Thank you!

-N

jjbmstinco

What areas do you want to stick to?  Also do you have a budget?  My mom is in Denver and the lowery area,  she pays 1200.  That is good for that area.  I lived in Lakewood for about 800.  I have had a few friends live with their parents to save money. This also came with a timeline that they would be out in 6 months while they aggressively save.  

Welcome to the board! 

paigemarieRN

I know exactly what you mean! I've been looking for a house to buy with my boyfriend for 6 months now, and absolutely nothing seems to become available. There are condos and such, but we want a house with a small yard (for our dog). Even condos are way out of our price range.

I live in Aurora right now, on the Centennial border, and pay $880/month in rent. We are moving in with my parents next month so we can save big time. While it may be tricky, I think it is definitely a good move if you can get along with them full time.

Good luck!

fall2015bride

My husband and I just got married this past September! We own a condo. We would like to buy a house but you're right, the market is INSANE!!! We've been keeping up on it and the housing market is expected to drop sometime possibly in 2016 but it will still be a while. 

Any chance you can wait it out? That's what we plan to do. The condo is small but it will do until we see the market crash then we will buy. If you invest in a home now, then that excessive money you've just paid for it will all be for nothing since the housing marking is going to crash and the homes will be worth less...