The bubble is secure. The bubble around Boulder that is. It appears Boulder home prices are once again headed higher.
Google recently announced its plans to expand their Boulder campus near the Transit Center at Pearl Street. The city of Boulder has approved Google’s plans to expand to a three building campus that will now employ around 1500 people. A pretty significant increase from the 400 employees that currently work for Google in Boulder.
Most communities would be really excited to welcome so many new, high paying technology-based jobs in their community, but Boulder Colorado citizens have their concerns.
According to the CNN Money article, “In Boulder, Fear of A Bigger Boulder”
“The plan has locals worried about rising home costs and traffic. Dozens of residents have expressed their concern at city meetings and editorials in the local paper.
City Council member Mary Young has said she’s wary of becoming a “Silicon Mountain,” referencing the high cost of living in Silicon Valley.”
While some fear the rising cost of new homes, others will see the bright side and take advantage of the opportunity to invest in houses in neighboring communities. Boulder has restrictions on new buildings which already leads to expensive Boulder home prices, so many people commute from neighboring towns like Longmont, Colorado.
Longmont’s home prices are much more affordable and they will likely see an influx of new home buyers and house renters from the new Google employees, or from current Boulder residents who decide to cash in on the high home prices by selling their Boulder homes and looking for a house in Longmont themselves.
Buying a home before the influx of new employees can lead to a quick profit turn around or a very desirable home for rental income. Investing in Boulder homes is always a great idea, but if the Boulder home prices are too much for your liking, you will find some really enticing home investment options in nearby cities. We can help you find them.
About Stephanie Iannone