Skip to main content

Boston or Denver?

I’m trying to settle on a location to buy my first condo — anyone have any opinions on if Boston or Denver is the better investment? Both have similar property tax rates (for Suffolk County in Boston) so it comes down to which city people think will see more growth. I imagine Denver may have the possibility to grow more, but Boston is probably the safer city, as there’s a lot more education, industry and history. Furthermore, while Denver may be cheaper than Boston, the rent prices are probably like half what they are in Boston, so once I move out of my first time home purchase and start renting it out, I’ll be renting it out for significantly less in Denver than I would Boston. However, because my mortgage would be like 500 a month cheaper in Denver, I’d be able to save/invest more over the course of the next several years while I live in my first home. Is it better to spend less now and invest more? Or spend more on a place in Boston, but reap higher rent from renting it out in 5-10 years when I move into my second home?

Sorry if this is confusing, I’m just having trouble deciding which option is more financially sound. Basically, Boston seems like the safer investment as it’s a more stable city. And I’ll be able to charge more in rent when I move out, but the home prices are more expensive in Boston. Meanwhile, a lot of people seem to think Denver still has a lot of growing to do, so it may be a better investment to buy in Denver as the city is on the upswing. Plus Denver is cheaper. But I won’t be able to get nearly as much in rent as I can in Boston. Also, though people say Denver is growing, the city overall seems much less clean, safe, and well -managed compared to Boston — from my experience in Denver, it feels like the city has more problems like homelessness, bad air quality, and crime. Does anyone foresee a future where Denver doesn’t flourish? Where Denver fails as a city? A big reason to invest in Boston is simply that Boston feels like a very stable city to me, with much nicer buildings, public spaces, and much less property crime.

Ahh, i just have no idea. I’m feeling very indecisive between my two options, any thoughts on the future prospects of Boston vs. Denver long term are hugely appreciated!

submitted by /u/kirazykid
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/18l83hk/boston_or_denver/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more