Exit Strategy When Buying Your Crested Butte Home
It may not make sense to think about selling your Crested Butte home before you have even bought it. But it is important to consider your exit strategy when buying your Crested Butte home. It may open your eyes to things you have not considered, and it might have an impact on your buying decisions.
Remodeling Your Home
As you go through the process of looking at homes, you will notice some homes are cluttered, dark, cold, and uninviting. If you are buying a home that needs remodeling and updating, are you going to do those projects? Typically, you can get a deal on a home that needs work. If you can do the work when you own the home, you will get the benefit of enjoying the dollars you put into the home. As well, if you do smart remodeling, you will get the majority of those dollars out when you sell the home. Conversely, if you buy a home that needs work and you don’t do anything, when you go to sell it will really look old and tired. You can expect that the condition of the home will negatively affect the interest and offers you receive.
I am often asked when working with buyers, “What are some of the more desirable features in a home?” If you are buying a home that needs work, you may consider integrating some of the more desirable features into your home remodel for your enjoyment. As well, when it comes time to sell your home, you will have a mountain home that appeals to the majority of buyers.
Unique Homes and Locations
It is hard to think about your exit strategy when buying your Crested Butte home before you even buy it, but it forces you to think about certain things. The location or specifics of your home might be unusual and you can love it for being so unique. But be aware that this may have an impact when you decide to sell later on. It’s especially important to consider location. It’s good to realize that remote locations are nice, and may offer a lower price point, but may not appeal to the mass of buyers when you go to sell.
Buy or build the home that is your dream home – but realize that if it is too funky, there may be limited demand from a very small subset of buyers when it comes time to sell. The majority of the population of second homebuyers want a solid, rustic mountain home look and feel. There are some people that absolutely love a contemporary home in the mountains. These homes are trendy and can be very cool, and usually much more expensive to build, but may not command the same high price at the time of sale. Unusual layouts or anything else that makes a home especially unique might also make it difficult to sell. I tell the sellers who I represent that they need to be patient when selling a unique home; but it only takes one like-minded buyer to make it happen.
Exit Strategy When Buying Your Crested Butte Home Final Thoughts
I hope you see the level of detail and time and effort I put into this candid article Exit Strategy When Buying Your Crested Butte Home. I have become a Top Real Estate Agent in Crested Butte by helping my clients to make informed decisions. Some decisions are not always easy.
This is representative of what you can expect from me as your agent.
If you have questions buying or selling your Crested Butte home – contact me directly to discuss.
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I have over 30 years of sales and marketing experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties. To see featured properties or search the MLS – visit chriskopf.com.
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Broker / Owner
Global Luxury Property Specialist
Coldwell Banker Mountain Properties