Crested Butte Second Home or Crested Butte Second Homeowner a Bad Word?
I was first a visitor, then a dreamer, then a Crested Butte Second homeowner* for ten years.
*I have heard some people say they dislike the term “second homeowner” because it labels people. I don’t get hung up on labels being good or bad. I was proud to be a second homeowner – and equally proud to say I am a local. I pinch myself because I “get to” live here in this beautiful place.
This welcoming community. I am happy to be labeled a “Marmot” because of my support of RMBL , and I am a “sponsor” and $25K “donor” to the Center for the Arts and so excited about our new awesome community center. And I am a “Rotarian”, a “Christian” a “husband” and “father” and I am a resident of Mt. Crested Butte, and I am a “member” of the Club at Crested Butte…
I am proud and very thankful for the “second homeowners” in our community. The second homeowner is an important and integral part of the Crested Butte community. They are part of the make up and the character of Crested Butte, and contribute to the commerce of Crested Butte. They love Crested Butte, and show it with their generous gifts of volunteering and financially supporting the many non-profit organizations in Crested Butte.
I think the town council of Crested Butte is treading on thin ice however if they decide to tax second homeowners as a separate class.
Our First Crested Butte Home – a Crested Butte Second Home
After many years of boys’ ski trips and skiing throughout the Western USA, one of my older brothers asked me if I had any interest in buying a second home in the mountains. My brother Rick and I decided we would go on a ski trip to Crested Butte and do some research. For some reason, we did not bring our wives. We both have three children, and at the time they were all under ten years old.
Since he was the older, smarter brother he had put together the plan, and it all sounded great to me. We flew to Crested Butte, Colorado for a four-day ski trip. We had a loosely-defined mission, but we were pretty sure we wanted to stick our toes in the water and look into getting a mountain ski home. We figured if we did not like it after a couple of years, we would just sell it.
We drove around looking at different areas. There was a home for sale, one we had not noticed before. This happens a lot; what you see depends on what you’re looking for. The home was three houses in from the ski run and it looked like a nice place. We called the real estate agent to set up a showing. The word came back that there were renters in there; we could not get in to see the house on our trip. Hmmm…
Rick was the detail man, but I was the salesman, and I told him we were going to get into that house. We went to the liquor store and bought two bottles of wine and a twelve-pack of beer. We went to the house, knocked on the door, and when the people answered and saw us with beer and wine, they said, “Come on in.” Then they asked, “Who are you?” We handed them the beer and wine while we explained we wanted to walk through the house for only five minutes and we would be out of their way.
We went through the house and determined it would work. We called the agent and said we wanted to meet to discuss putting an offer on the home. We went back to Dallas with an offer pending… our wives said, “WHAT? YOU put an offer on a ski house in Crested Butte and WE haven’t even seen it?” We replied, “Yes, and how can you be mad at us for buying you a ski house in Crested Butte?”
Crested Butte Second Home Investment
I looked at a pie chart of our investment portfolio and I realized that I was not getting much enjoyment from that report, and it would be a long time before those retirement savings dollars would be put to use. I started thinking about substituting a portion of the savings to a different asset class. I surmised that I could take money from the secure low-performing wedge of the pie chart and substitute those dollars toward a Crested Butte home. By doing this – my family could begin to create our lifetime of memories with family, friends and clients.
I decided a second home in Crested Butte would provide years of enjoyment while also being a diversified real estate investment. A second home is a secure investment, but it is not likely to appreciate significantly, and it is not nearly as liquid as equities.
And while finances are important, you should also ask yourself about the intangibles: what quality-of-life value would a Crested Butte home have in terms of having a better life now?
We bought that home and shared it for six years. It was a great journey for us, and we got to experience many wonderful times with our kids, family and friends. After six years of “dipping our toe in the water”, we then dove in headfirst. My wife and I bought and sold two lots (we thought we would build on both but did not), and then another second home that we purchased in 2008.
The Move From Dallas to our Crested Butte Second Home
In 2009 I convinced my wife we should move our family to Crested Butte full time! For sure there were lots of questions, fears and tears… but it was a great move for us.
I feel very fortunate to get to live in our Crested Butte dream home in a wonderful place, and to enjoy all the mountain lifestyle has to offer.
As a Crested Butte real estate agent, I get the opportunity to work with hundreds of people and introduce them to the wonders of Crested Butte. I have also helped many clients who are ready to move on to the next chapter in their lives and sell their Crested Butte home.
I have a unique perspective on many aspects of second home ownership. I am happy to help you to better understand the challenges and the joys of searching, selecting, buying, and maintaining a second home in the mountains. There are lots of great mountain towns and mountain ski towns – but Crested Butte is a special place, with special people.
Crested Butte is a Special Place
If you have an interest in Crested Butte Real Estate and would like to start a conversation about ski-in/ski-out homes, golf course community homes, luxury condos, condos, land, fly fishing or enjoying life in the Crested Butte area, call me.
Global Luxury Property Specialist
Coldwell Banker Mountain Properties
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Contact me at: (970) 209-5405, chris.kopf@CBMP.com