Monday, February 13, 2006

Boulder Off-Campus Housing Fair

by Osman Parvez


It's that time of year again. Fall Pre-Leasing!

This Wednesday (Feb. 15), from 10 a.m. to 4 p.m. the University of Colorado at Boulder will host it's spring Off-Campus Housing Fair.

This is the kickoff to the fall rental season and many landlords and rental companies will participate. The fair is a "one-stop" shopping place for students, faculty, and staff to collect information on housing opportunities.

If you are thinking about renting, you may also want to do the math on buying as well. You might be surprised. Be sure to read my post, "Can Buying Save You Money?" You might also want to check out a new service called Housing Maps. And if you need to know how far you'll be walking or riding everyday, be sure to use the mash up Google Gmap Pedometer.

The city of Boulder will have representatives at the housing fair from rental licensing, zoning, environmental enforcement, community mediation services, fire and police to provide information about tenant responsibilities such as trash and snow removal, noise ordinances and how to be a good neighbor.

Please contact us if you have any questions. The Realty Unique Team enjoys helping students and parents understand the pluses and minuses of buying instead of renting here in Boulder, including some common questions (below).

1. Does buying make economic sense at today's prices? We've built our own financial model that takes into account holding period, expected appreciation, purchase price, mortgage rate, down payment, and more to help you do the math. Surprisingly, the appreciation rate doesn't have to be that high for buying to make a great deal more sense than renting. With our model, you simply plug in your assumptions (financial information, the specifics of the property, etc) and it will generate a comparison of buying versus renting. Contact us for a copy of the model.

2. What are the pros and cons of buying or renting in different parts of Boulder? Should you choose Gold Run, University Hill, Martin Acres, or Downtown? Is rioting on the Hill really a problem? Do you want your child to live in party central? How are the crime rates?

3. Is it better to invest in a condo or a residential home? Most people know that homes tend to appreciate faster than condos, but did you know that certain condo developments in Boulder are now selling much quicker than homes? When one of these properties comes on the market, it often goes under contract in days, indicating much greater liquidity for an investor.

4. If I rent out extra rooms, how much should I expect to get? If my child has moved away, should I hire a property manager?

5. Which areas of town are appreciating most quickly? What areas are up and coming? Are there parts of town I should avoid?



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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

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