WHAT SHOULD I BUY?
UNDERSTANDING THE MARKET
Whether it’s the convenience of a ski-in/ski-out location or the design and style of a single family home, Summit Property Brokerage knows what neighborhoods offer location, value, and future upside pricing based upon stated lifestyle and budgetary considerations. As a client fiduciary our company exclusively represents buyers in their search for lifestyle homes that make financial sense without conflicts of interest or undisclosed hidden agendas. Client input in conjunction with the realities of small town living are the foundation of the crucial first step which is a focused strategic plan incorporating localized macro-economic drivers, lifestyle aspirations, price point sensitivity, access, size and style preferences. Why complicate the search with all of this extraneous information when all you want to do is look at property? The answer; a misguided strategy, perfectly executed, still produces a misguided result.
When will you be here? How long might you stay? Will you be on vacation, semi-retired, or are you thinking about becoming a full time resident? What about friends and family? Is rental income important? The list is long with these being just some of the questions that should be addressed before going out into the field and taking time to look at homes that may or may not fit the stated criteria. A general rule of thumb is the briefer the stay the more important location and distance to the thing you are coming here for becomes! Start by narrowing down the search based upon distance to the chairlifts, number of bedrooms, rental income offsets, style of neighborhood and how financially driven your end game might be. Summit County has a diverse selection of micro communities where there really is something for everyone. Take time exploring the area and get to know what these micro markets have to offer. Since there is no such thing as “a one size fits all property” start with the a five year horizon and try not to anticipate too far into the future, because as circumstances change so will your real estate interests. Adjustments can always be made but get into the market now while prices are still reasonable and interest rates remain at unsustainable lows. Ownership means your equity keeps pace with the market and in the event a trade is appropriate you will be able to use the appreciated value to buy a different home without contributing staggering sums of money. Being a buyer in fixed supply world class markets is never easy with many obstacles and frustrations to overcome, but keep in mind that the rewards are considerable. Find an experienced and qualified buyer broker who will act as your guide in this unfamiliar landscape and learn about the nuances of resort property living before making any final decisions, because at the risk of being repetitive; a misguided strategy, perfectly executed, still produces a misguided result!
