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Housing Prices in Southwest Colorado

 

Southwest Colorado homes for sale

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Since real estate is one of my favorite topics, I couldn’t miss the chance to add my two cents along with some other recent blog posts about how much house you can get for $150,000, $250,000, or $1 million. Make sure to check out these other areas if you missed them.

Portland: Frugal Portland

New York: Broke and Beautiful Life

Denver: Shop My Closet Project

Silicon Valley: Don’t Quit Your Day Job

New Jersey: Red Debted Stepchild

Central Indiana: Club Thrifty

Aukland: NZ Muse

Guatemala: Reach Financial Independence

Colorado Housing Prices

Southwest Colorado is a bargain in my opinion. That’s one reason why we live here. It’s rural, so if you’re looking for big city excitement, it’s no where to be found. You can, however, enjoy an outdoor paradise with mountain or desert terrain. Take your pick or do both on the same day if you’d like!

With the money we save by living here, we can take a weekend road trip to the city when we feel the need. Denver, Phoenix, Albuquerque, Las Vegas, and Salt Lake City are all less than 8 hours away, and we can be in LA in 12 hours.

Colorado is all over the map as far as real estate prices. Even in our area you’d be hard pressed to find a nice home in Durango for under $350,000, and if you want a single family home in Telluride, you’ll need over a million. Don’t even get me started on places like Vail and Aspen. I’d rather make my money go further, and that’s easy to do where we live. ย Here’s what it costs to buy a house near Cortez, Colorado.

$100,000

duplex for $100,000

Income property for under $100,000

 

You can still buy houses for $100,000 or less if you do some searching. They will be small or need lots of work. These are the type of properties that can make excellent rentals. In fact, we are considering this property for ourselves. It’s a duplex listed for $92,000. The main house is an 800 sq foot, 2 bed one bath, and there is a 300 sq foot studio in the back.

 

 

 

 

ย $150,000

buy a house for $150,000

Live right in Cortez for under $150,000

For $145,000 you can get this 3 bedroom, 2 bathroom 1150 square foot house right in the best part of town. I did find some larger ones in this price range, but the location of this house beats the others hands down. It looks like a few things could be updated, and the kitchen is certainly from the 90’s, but it’s basically move in ready.

 

 

 

 

 

$250,000-$300,000

buy a house for $250,000

5 bedrooms and 2700 sq ft for $250,000

In the $250k-$300k range, there were lots of choices. You can have a big house in town or a house in the country with some land if that makes you happy. This 5 bedroom, 3 bath, 2700 sq foot house in Cortez comes with almost an acre.

 

The other house I picked out in this price range is a steal right now at $290,000. It is right down the road from where I live, and I know the owners have already moved on and are motivated. My daughter always wants to live in this house because it has what we call a turret room. The house ย was built in 2004. It has 2600 sq ft, 3 bedrooms and 3 baths and sits on 3 acres.

House on 3 acres for $290,000

You could live in the turret!

 

 

 

 

 

 

 

$1,000,000

$1 million lodge

You can have your own lodge in Mancos, CO for around $900,000

For a cool million, you’d be hard pressed to find single family homes. If you are looking in this price range, it usually means some sort of ranch that comes with a large main house plus some type of smaller farm house for the caretakers. There is absolutely no need to spend this much on a house in Cortez, Colorado. For under $400,000, you can have just about as much house as you could want with high end finishes.

For a million, you could buy a ski-in ski out condo in Telluride or one of the remodeled victorian homes in downtown Durango. In the Cortez area, you could buy this 7 bedroom, 9 bath, 6,000 sq ft lodge on 20 acres. If it were me, I’d buy a decent house to live in for around $200K and spend the rest of my mil on investment properties. but to each his own!

How much would a million buy where you live? How much do you need for your ideal home?

buying a lodge in southwest Colorado

The view from your lodge!

 

 

For sale images from realtor.com.

About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.

40 comments

  1. I enjoy reading your housing prices in different prices. I can really see the difference of houses in every place and how much every one costs. That being said, if I were to pick one, I would definitely choose the house in Bergen County. Thanks for the post!

    • I really like reading about real estate prices in different areas as well. Housing costs would play a big part in any decision to move in the future.

  2. Wow, that million dollar home is BEAUTIFUL! Certainly a lot more beautiful than what it could buy you in NYC (a one bedroom apartment).

    • I would probably like living in the million dollar house for about a month when it needed to be cleaned. 9 toilets and all those windows would be a pain. I guess if you pay a million for a house, you have to have a cleaning lady.

  3. Our real estate is somewhat similar here in Omaha. We got our house for $125k and is 1500 square feet. We really wouldn’t need a million here either as anywhere from $350k on up would get us into the large majority of really nice neighborhoods in town. Then again, we’d also need to hire a cleaner to keep up with the place. ๐Ÿ˜‰

  4. I would love that million dollar home! I’m actually surprised about what you can get (location wise) on the low-end, and I’d certainly be hard-pressed to spend more than $150,000 on a house. I just don’t think I could do it!

  5. I’m a big fan of spending a night searching MLS, so I’m always happy to see another one of these posts!

  6. MomofTwoPreciousGirls

    Your daughter and I are on the same page. I told my husband my one requirement on our next home is a “roundy-bout” (turret is too grown up sounding!!). I love the look of them especially on a an English Tudor with a stone front. I have always wanted to live in a castle and that’s the closest I can do!

    • Round rooms do give a house a castle feel. I have never actually seen the inside of one. I would love to see what the dimension and layout look like from the interior.

  7. Nice! A million would buy you a tiny shack by the beach where I live! Yay! ๐Ÿ™‚

  8. I have loved these posts, unfortunately a million wouldn’t buy a whole lot in my area, or at least not something that wouldn’t need to be fixed up. I love your neighbor’s home, though, especially the turret room.

    • I almost expect to see Rapunzel letting down her hair every time we drive past. A million for a fixer would be pretty sad for me.

  9. There seems to be many options in your state. How are the property taxes in Colorado?

    • Taxes depend on the area. Here, that turret house would be around $1600 a year. If it was in Telluride, it would probably be 4x that. We live in a super conservative county that never votes for tax increases for anything. They did vote for a new high school, but only after it had been defeated a couple of times prior. It’s good and bad. I don’t like taxes, but it would be nice to have a few more public services.

  10. I want that $290,000 house! I love reading these posts and should do one myself. Housing prices aren’t cheap in the Minneapolis-St. Paul metro, but they aren’t as bad as the east and west coast.

  11. I like the turret house and the price tag for the square footage and acres! In Staten Island, NY you would probably get a 10+ year old 1-2 bedroom condo for around the same price.

  12. A million would buy a lot of house in the South. Or a lot of acres of land depending on the county. The further you get away from the city (Atlanta) the cheaper land (and housing) gets. I wouldn’t need to spend that much..I think 400k would be the upper limit of anything I’d ever need.

    • I believe in many parts of Kentucky, prices are less than here. If you want your house dollars to go a long way, I’d pick the south or midwest for sure.

  13. I love checking out prices in other parts of the country. Though it can be depressing since I live in NYC (well Queens…so not as expensive as Manhattan but still expensive!). Probably can’t buy a house in a decent neighborhood with good schools for less than $600,000.

    • Living in the city would certainly be a trade off and I understand why people enjoy that lifestyle and opportunity for higher paying jobs.

  14. We did a post on this same project, if you wouldn’t mind linking to it, that’d be great! http://reddebtedstepchild.com/house-in-bergen-county/
    I love the houses you put on here for the $250K range. Super cute!

  15. My girls would agree with your daughter and vote for the home with the turret room. Princess dreams, right? ๐Ÿ™‚ Sadly, as Tonya already noted a million does not by much in LA. Definitely nothing by the beach! If I lived where you do, I’d buy the home with the turret and invest the rest. Rental properties can be great investments but my mentality and skill set is better suited to managing investments than properties! LOL!

    • Managing investments is probably much more concrete than tenants! I would love to see how the furniture goes in a turret room. Do you put the bed in the middle?

  16. The second one seems like a good opportunity to turn into a rental as well, for a family with young kids. I like the turret but would rather live in the other home with more trees, that garden is really bare!
    The lodge is awesome, I love wooden Alpine style homes. Thanks for including my post too!

    • I love the alpine look and feel of a cabin in the pines, but they are much more maintenance than a traditional siding or stucco house. You also have to consider wildfires and creating defensible space, which can be expensive.

  17. As a former native of the American Southwest I am constantly appalled by how expensive housing is in the Northeast. A million dollars in my area will get you a pretty decent sized single family home (~1500-2000 sq ft). Nothing fancy, but you’ll have a yard. Or if you’re in the downtown part of the city, you could get a 2-bed condo maybe?

    Sigh.

    • I would be really sad to have to pay those prices for not very much house. I guess if the job market was much better for my profession, it might be worthwhile. Since that isn’t the case, I guess we’ll stay put.

  18. It’s interesting to see the prices in the opposite part of the state. The city I live is quickly outpricing the middle class. I don’t think you are able to get anything but run down tiny houses for under $150,000. And most homes are 200,000 plus. Not near the Aspen or vail prices, but still hard to afford.

  19. Wow – that house your daughter wants is gorgeous! She has great taste. ๐Ÿ™‚ Our dream home would cost about 500k. A simple but large home on LOTS of land. One day. ๐Ÿ™‚ Seems like your housing prices there are similar to what we have here.

  20. Always interesting seeing housing prices in different parts of the country. Being near the DC area myself, the prices are a little higher. A million dollar house would actually look modest in some areas around here.

  21. I really like houses with a turret room and that is an absolute steal. I had no idea the prices were this low in the area.

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