Colorado here I come..

[beezee]

..well maybe.

I have a job offer and I'm concerned that the amount offered may not be sufficient to maintain the same lifestyle I live her in KY.

Currently, I rent a home, $750/month. The house is probably worth 80K. I have never thought about buying a house here since I want to have the flexibility to relocate at anytime. If I were to buy a house here, a decent 3 bed 2 bath can be had for about 150k- 200k(<--4 beds 2.5 baths) which my wife and I can afford.
We don't eat out often and rarely see a movie in the theater. No cable TV either, just whatever we can get over the air

Colorado is a different story, I hear. Towards the end of my interview a manger said a decent 3 bed 2 bath can be had for around 300-350K. :sobbing:

The job (Denver) offered $1698 more than the cost of living calculator showed, however I'm still not convinced. I feel we may barely make it since we'll be living off my income for a few months until she can find a job. We only always buy what we can afford and pay off quickly. Both our cars are 90's model Honda/Toyota, oh and a Z31-88Tutrbo. (Will be Looking to getting a 3rd gen once we settle down and get accustomed to the area.)

So assuming I am making 64k, is this sufficient for the 3(Wife and 2 month old) of us until she finds a job? How can I find out how much taxes/deductions will be withheld so I can figure out an approximate net?
Where should I look for homes to buy around 200-250k? I am interested in areas that are great to raise kids.

Advice and suggestions are welcomed and appreciated.

 

[MtnT4R]

Our cost of living is quite a bit higher, but the quality of living is higher as well. Its definitely a matter of getting what you pay for. If you are looking to rent a 3-bed home, average price off the top of my head, will be around $1500-$1700 in a good neighborhood. Generally speaking, rent covers the mortgage and HOA dues, so it would make sense to find a place to rent for the first year or so, while you get familiar with the area and pick a place to purchase.

Making $1700 more than your projected cost of living is huge, especially if you budget carefully, which it sounds like you do. Keep in mind that that is your base line, which will only increase as your wife finds a job and you refine your budget as your experience of living here grows.

Keep in mind that % increase in housing costs will be equivalent to everything you buy here. Prices for food, fuel, etc. will all be higher. Is it worth it? absolutely.

 

[cacoghill]

im not on the eastern slope side of the mnt but I would say that you will be fine and will love being in the state. good luck with all and I hope you make the best of what ever you decide to do .

 

[RunninInGA]

Don't take any firearms to defend yourself there.....the commies in charge have said you can't.

 

[beezee]

Made it to Colorado..been relaxing from the 15 hr drive in my runner. Hee

 

[Acidmeld]

What part of CO? It really makes a big difference. Denver is ungodly expensive, springs is better, pueblo is dirt cheap. I bought last year a 4 bed, 3 bath, 2500 sqft, on an acre for 100k even.

 

[bofa]

Welcome! Where did you end up? I assume you found reasonable living arrangements.

I lived in Kentucky for a couple of years as a kid. The weather is pretty similar from what I recall. The cost of living is much higher (mostly on the housing end of things) but CO beats KY hands down in every way I would consider them comparable.