I Was in Your Shoes Searching for Crested Butte Second Home
I was in your shoes first as a visitor, then a dreamer, then as a second-homeowner for ten years before moving from the big city to Crested Butte full-time with my wife and three daughters in 2009. I feel very fortunate to get to live in our dream home in a wonderful place, and to enjoy all the mountain lifestyle has to offer. Before we bought our first mountain home, 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 – the secure low-performing wedge of the pie chart – for a mountain home, an even better investment that my family could begin to enjoy immediately.
I decided a second home in the mountains would provide years of enjoyment and a lifetime of memories 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. Will you sell your second home or pass it down to your kids? You may want to talk with you financial planner or tax advisor and purchase the home in a Limited Liability Corporation (LLC), Trust, or a Family Limited Partnership (FLP).
Some say the most important way to make money in real estate is to “buy right” on the front end. That may be true, however, if the property you purchase is a great deal, but is a dog, it may be hard to sell on the back end. Ask yourself if it will appeal to a large segment of the population of second-home buyers? If not, then it may be a challenge to sell, or may be a challenge to sell for the price you expect.
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?
Call me to help you navigate the various options in condos, town homes and single family homes here in Crested Butte. There is a wide variety of options, in location, amenities, and price point. I appreciate the opportunity to help you find the perfect mountain home for you and your family!
How can I help you?
See all the big picture and all the details of the Crested Butte Real Estate Market report and the level of detail is representative of what you can expect from me as your Crested Butte Real Estate Agent. If you are considering Selling your home and interested in finding out what your existing property is worth, or considering me to represent you as a Buyer, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
Previews® Property Specialist
Coldwell Banker Bighorn Realty
#1 Crested Butte Real Estate Agent 2014
based on Total Volume