In our local home market in Breckenridge, there are actually more sales in the very highest end of the market than at this time last year. There is considerable inventory in the lower end of the luxury price ranges, though, so there are a few strong value opportunities. Summit County is historically a great solid investment area, with local prices and values not experiencing the dramatic swings that other areas such as Florida and California often do.
When considering a second home or investment in Breckenridge, however, do not concentrate on the “deal” as much as solid criteria for selecting the property. First of all, the floor plan should be a good one and suit today’s lifestyle and your needs in particular. You can remodel with more recent finishes, but the fundamental “bones” of the home need to work well.
The location is important and your realtor can assist in discussing on-mountain versus town versus remote locations. Your selection will be based on how you will use the property yourself and your lifestyle needs. A view is often a sought-after feature and, thus, is valuable for resale. Remember that to be a solid long term investment, it is important to choose a residence with broad appeal. The same things that attract you to the home will help sell it when the time comes.
When looking for a second home, according to the National Association of Realtors surveys, location is number one. Additional features that are important to luxury buyers include well designed kitchens, main floor master suites, bedroom-bath suites for secondary bedrooms, a separate “family” or media room, storage, and updated bathrooms.
As the economy strengthens, it has never been a better time to invest in a solid market like ours. This is the perfect time to consider an investment you can enjoy which fits into your long term investment strategy.
Posted by: Jeffery McClintock
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