Denver Market: House Hack: Buy Now Or Wait 9 Months

[Taylor Burns]

Good Afternoon BP! 

I am new to this whole REI thing. I have been really getting invested on education and networking in the last couple of months. I am out in Denver Colorado and looking to make the first jump into investing through a house hack.

I was talking to a friend that has some pretty good connections in the Denver real estate market. He had heard that in the next 9 months or so it is projected for a correction in the RE market. I have been viewing properties and looking to get into a house this year. I am just curious others thoughts about this market. 

I am between, getting into a house this year just to start and get my feet wet. The other part of me is questioning if I should wait 9 months, save up some more money and continue learning as much as possible to see if the housing market softens up to get into a better deal. 

I would love to hear others advice on this situation just coming from someone with more expertise and experience in this field. Any insight helps to see different angles and view points on this situation.

Thank you so much! 

-Taylor 

[Lizzie Carver]

Hi Taylor-

I recently relocated from DC to Denver. I would say first off what can you afford in 9 months that you can’t afford now, and what is your target hold period? If you plan to hold long term and the numbers work, what is the real hesitation? Sure we would all like to time things perfectly when the cycle dips/there’s a crash, but if you are planning to hold long term it’s very different than flippers who have houses when the market crashes and “are playing musical chairs and don’t have a chair”.