If you’ve been looking to purchase a mountain property, you’ve likely made a comprehensive list of what you are and aren’t looking for. A livability list for each potential home is an important aspect of making the right real estate decision. But sometimes we forget to ask ourselves the simple questions about what might become large factors later. What should you be asking yourself when you’re searching for the perfect mountain home?
Is it an Investment?
We’ve said before and we’ll say it again. Real estate is an investment and a good one at that. The right property at the right time can give you a high return on your investment. Many second-home property owners are taking advantage of the budding business that is short-term vacation rentals. After all, if you aren’t planning on using your mountain home all year long, it’s the perfect chance to make your property work for you and become a passive source of income. Returning on your investment won’t likely be immediate, but if you’re smart about how you choose to use your space when you’re not residing in it, it can happen much sooner than you think.
What Type of Investment?
Buying an investment property doesn’t mean that you plan to place it back on the market when an opportune time presents itself. Sometimes your investment in a property isn’t as much about a return in the form of money but in priceless memories. A mountain home near or inside a prime vacation destination can mean annual vacation time spent with the family, a chance to let your kids experience the adventures of a mountain-scape, or become a place where friends can visit from all over the country to spend time together.
Live in the Thick of It or the Outskirts?
Any mountain property will include a fair amount of seclusion and intimacy, however, you should think about whether you want to be near the action, or far away from it. Popular mountain towns may be the ideal place for those looking at a “ski-in, ski-out” experience. Living in a town like Vail will cut down on travel time between your home and a resort. Think about investing more in a popular area that makes a vehicle almost unnecessary. However, living in a town like Dillon allows you to be close to important activities without putting you in direct center of the action. If this seems more to your taste, search for mountain properties that will give you a good amount of distance from large tourist crowds.
What Do You Want Our of Life?
It’s important to think about what mountain living would mean to you. It doesn’t matter if your plan to be an “absentee” homeowner or a person who only considers their mountain property a second home. What do you want out of your home and the place in which you live? Most newcomers to mountain living choose this type of property because they want an escape from city dwellings. Outdoor enthusiasts will appreciate the close proximity to outdoor activities and a chance to extend their home into the outdoors. Figure this out, and everything else will likely fall into place.
By Coldwell Banker