Welcome To CU-Boulder Housing!

My name is Steven Carter.  I am a 25+ year real estate expert with RE/MAX of Boulder and leader in parent/student real estate purchases.

I have created this web site specifically for University of Colorado parents that would like to explore the opportunities to purchase housing for their child instead of paying rent for the 3-4 years the child is attending CU.

You will soon be faced with the decision to rent off-campus for your child.  Properties near CU currently rent for $650 to $1,050 per bedroom, plus utilities.  Leases are 1-year in lenght and typically go from August 1st to July 31.

Most parents begin to consider purchasing a property instead of renting when their child calls and says:  "We found a great place for rent.  We need to sign a lease right now or it will be gone.  It is only $900 per month, and the deposit is $1,450. "  The parent's typicall response is:  " Wow, $900 a month for rent!  We could buy a place for that."

You are correct!  With a 20% down payment, you can buy a good 2 bedroom, 2 bath condo, 1 mile from CU, for $968 per month including property taxes and HOA fees.  Rent out the 2nd bedroom to a friend for $650 and with the $174/mo. going the loan principle, your net out of pocket is $144/month.  You can typically right off the mortgage interest rate, and with that tax savings, your out of pocket is just $10/month.  This can also be done 1-2 blocks from CU, but the savings is a little lower.

How about if you don't have, or want to spend,20% for a down payment?  Below is a real example of a purchase, 1 mile from CU with a 3.5% down payment ($5,544):

Real Life CU 2 Bedroom Condo Purchaser Example:

880 Sq. Ft., 2 Bedroom, 2 Bath Condo.  1 mile from CU.  
List Price:  $165,000, Purchase Price $158,400.
Property Taxes: $85/Mo., HOA Fee: $260/Mo.
Down Payment: $5,544, Loan Amount: $152,856
Loan Interest Rate:4.25%, Principle and Interest Payment: $752/Mo.
Total Monthly Expense with taxes and HOA: $1,097
Rent From Roommate:$650, Monthly Principle Loan Reduction: $211
Monthly Cost to Parent Before Tax Benefits: $236
Monthly Cost to Parent After Estimated Interest Rate Tax Deduction: $74

Monthly Savings Over Paying Rent: $576
Annual Savings Over Paying Rent:  $6,912
Annual Rate of Return on Down Payment: 124.8%

Steve,

Jason and I can’t thank you enough for your assistance.  You have gone above and beyond to make this purchase happen, and we appreciate your continual willingness to share your knowledge and experience with us – as well as your patience as we navigated the process.  You’ve been a tremendous resource.

Aline (Delaware)

Please call or email me to discuss your needs or to answer any questions.  I'll be working every day until the Fall Session begins at CU.

Cordially,

Steven Carter, MBA, ABR, CRS, GRI
RE/MAX of Boulder “#1 in the US”
University of Colorado Real Estate Expert
25+ Years of Expert Service
RE/MAX Hall of Fame
303-441-5613
scarter@remax.net

Here are some examples of properties available for purchase right now:

1 bedroom, 2 blocks to campus, starting at $95,000.

2 bedroom, 2 blocks from campus, Great views! $189,900.

2 Bedroom, 2 blocks from campus, 2.5 years old, 1,300 sq. ft. perfect condition. $319,900.

3 bedroom, 3 bath, 2 blocks from campus, health club, pool, spa, top-floor, 2 level, 4 decks. $424,900.

4 Bedroom, 3 bath, 2 blocks from campus, health club, pool, spa, townhouse, 4-levels $455,000.

4 Bedroom. Gold Run, 2 Blocks from Campus, 2-levels $409,000.

4 bed, 3 bath house near CU and Downtown. 1 car garage.  Easy upkeep. $574,900.

$225,000-$650,000.  New Construction near CU.  1-2 bedroom units.

$140,000.  2 bedroom, 2 bath, 880 sq. ft. condo.  Third floor, 10 minutes to CU, on bus route.  Foreclosure-updated, but needs just a little work.  Similar units sell for $180k.  Good appreciation.

$475,000.  4bd, 4 full bath, top floor condo.  1/2 block to CU.  University Hill area.  Great location, can always be rented. 3 parking spaces.  Solid investment.

$279,900.  Newer 2 bedroom, 2 full bath, 1,200 sq. ft. first floor condo in desirable Gold Run.  South facing, 1 underground parking space, health club, 2 blocks to CU.

$254,000.  1,150 sq. ft, 2 bed, 2 bath, condo near Law School.  Great southwest campus location.

$212,000.  1,059 sq. ft. 2 bed, 2 bath condo near Canyon and Folsom.  Fantastic mountain views, pool, game room.  Central to CU, Downtown and 29th Street Mall.

$595,900. 2,100 sq. ft. 4 bedroom 3 bath house centrally located.  3 covered off-street parking places.  Great yard. Great location.  Single family homes typically appreciate more than condos.

$219,900.  948 sq. ft. 2 bedroom, 2 bath, top floor condo south of CU near S. Boulder Road and Hwy 36. 

Properties can be purchased with as little as 3.5% down.  5/1 ARM are at 3.50%.