As much as I love Colorado, the real estate market is getting out of control. I've been wanted to purchase a duplex as a second property but I feel like there's a mini real-estate bubble in the Denver area, and I don't want to be left behind holding the bag when it pops. Even if there isn't a bubble, the price of real estate is still high, and only going to get higher.
I originally lived in Massachusetts and moved here in early 2012. Part of the reason I left Mass was because of the mass influx of people and the increased cost of living. And also cuz Colorado has some pretty awesome skiing. But seems like the same is happening here now, whether it's a result of Amend 64 or not.
I've been looking at Utah real estate in the SLC metro area and it's definitely within my budget, both for a primary and an investment property down the line.
I have plenty of research to do, but I'd like to get a general idea of where some good areas are.
Right now I live in St. Mary's, CO, a tiny little unincorporated sub-division of 300 people in the mountains about 10,100 feet above sea level. While I'm removed from the Denver Suburbs, I'm not isolated as Denver is only 45 minutes away. While the winters can be brutal, I do like this area. I can do mtn biking, trail riding, hiking, and even skiing almost right out my door, without having to trailer any of the aforementioned gear.
I do have a commute to work that's almost an hour, but that's worth it to me.
A few other things that I'm trying to figure out, in order of importance:
- How is the housing market?
- I've been working in IT for 10+ years, specializing in designing VoIP networks. From what I can see on monster, there are definitely IT jobs around, VoIP can be a little harder to find though. Would like to hear from anyone that has insight to this. I've also worked as a network engineer in the past. (All experience with Cisco)
- Colorado usually has skiing Oct-June (A-Basin). What's the average ski season length?
- Colorado has the Epic pass. Other than PCMR/Canyons, are there any other kinds of collaborative passes? My annual budget for season passes and day lift tickets is $1,200 (Already purchased Epic local pass and MCP.) I've skied Snowbird a few times and thoroughly enjoyed the resort, I'd be leaning towards making that my go-to/default resort. Skied Alta once in 2014 and 2015 (April both times) and even though I had really high hopes and expectations, I wasn't overly impressed. In all fairness though they hadn't received any fresh snow recently.
Are there any areas around SLC or in the mountains that fit the rough mold of where I live now?
Are there any spots nearby to earn turns in the summer?
I've heard that interest rates are going to jump to 5% by September, so if I am going to move I can't be dragging my feet.
Feel free to add any other points that may be important that I did not mention.