The Cost of Real Estate in Crested Butte Compared with other mountain towns including high-end markets like Vail, Aspen, Telluride…
You may want to live in a nice home in downtown Vail or Aspen, but at approximately $2,000+ per square foot, these properties are out of reach for most people. The same home in a different mountain town will have a different price simply because of the location, the infrastructure and development in place, and the maturity of the market, and the demographics. For example, Crested Butte, where I live, is not a mega resort, and is not teeming with the rich and the famous. It’s as beautiful as any other mountain town, but it is more affordable than many.What that means is that if you pick up a home from one mountain town and put it in another mountain town, the price could be triple or quadruple, so determining which mountain town is best for you will greatly affect how much house you can afford. The current price for a single family home in the Crested Butte area is $330, and in Historic Downtown Crested Butte $440 per square foot. There are more affordable areas as well – CB South averages under $200 per square foot for a single family home. (see monthly Crested Butte Real Estate Market Reports)
You should consider how big of a home you need, including how many bedrooms, bathrooms, and whether a single family home or condo/town home would work best.
The cost of real estate includes the initial acquisition cost, any remodel work you will do, and the furniture and furnishings you will purchase. (Most existing mountain homes are sold furnished, but some or all of the furniture may need updating.)
You should also look at the fixed annual expenses associated with owning the home. These costs include property taxes, utilities, insurance, homeowner association dues, and snow removal (plowing the driveway, shoveling the deck, walkways, and shoveling the roof one to three times per year depending on the roof pitch and amount of snowfall).
Variable expenses can include appliances that need repair or replacement, weekly hot tub service, landscaping, window washing, etc. It is usually a good idea to have a security system with freeze detectors, and water detectors tied to a main water shut-off valve (this may not prevent minor water damage in the event of a plumbing leak or pipe breaking, but should prevent major damage).
Why Crested Butte?
There are many mountain town choices and Crested Butte Colorado is a great option. Crested Butte is a special place, appropriately called “The last great Colorado ski town” with a fun vibe and a welcoming community. While many other mountain towns blossomed as a result of gold and silver mining, Crested Butte’s roots stem from a long history of coal mining, which transcends the decades of time.
Crested Butte is a destination for skiing, mountain biking, hiking, fishing, golfing and a variety of other outdoor activities. It is a welcoming community made up of transplanted locals and second homeowners, with a permanent population in downtown of about 1,500. Some have boasted there are more restaurants in Crested Butte per capita than anywhere else. Crested Butte is home to many local artists and shops. There are three churches, a movie theater, a performing arts center, a grocery store, and a museum. The Crested Butte / Mt. Crested Butte Chamber of Commerce and Crested Butte Visitors Center is located at Elk Avenue and 6th Street in the heart of downtown. The primary winter activity in Crested Butte is alpine skiing or snowboarding at the Crested Butte Mountain Resort (CBMR). The mountain, Crested Butte, rises to 12,162 feet above sea level. The ski area base is at 9,375 feet. Sixteen lifts serve 1,547 acres of terrain, with 121 trails (27 percent beginner, 57 percent intermediate, 16 percent advanced). The longest run on Mt. Crested Butte is 2.6 miles long. The large amount of extreme skiing terrain at Crested Butte has attracted the US Extreme Skiing Championships and the original X-Games. However, for others, the allure of backcountry skiing, snowmobiling, snowshoeing, Nordic skiing, or ice fishing is just as appealing.
Additional information on all things Crested Butte available via the Travel Crested Butte website, or for all of Gunnison Valley check out the Gunnison Crested Butte Travel Association website.
How Can I Help You?
See all the big picture and all the details of the Crested Butte Real Estate Market in my monthly Crested Butte Co Real Estate market reports – the level of detail is representative of what you can expect from me as yourCrested Butte Real Estate Agent.
What is Your Property Worth today? If you are considering Selling your Crested Butte home and interested in finding out what your existing property is worth, contact me. I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
Visit www.chriskopf.com. Phone: (970) 209-5405, or chriskopf@bighornrealty.com
Thanks,
Chris Kopf
Previews® Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405
chriskopf@bighornrealty.com
#1 Crested Butte Real Estate Agent
in 2014 based on Total Volume
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