If dollar signs start spinning in your head when you think of purchasing Breckenridge, Colorado real estate for your family vacations, look again. You’ll cut the edge off of the purchase by thinking of this first vacation home in Breckenridge as a future investment. Why not pick up a slope side studio or a small outlying Breckenridge CO home now and find yourself more spacious quarters a few years down the road?
That first Breckenridge property will build equity for the second one’s mortgage approval and can be turned into a rental after you find something bigger. When you leap into real estate investing, look in the lower priced strata of options for that first vacation home in Summit County or Park County. Think out of the box, too. Maybe real estate in Silverthorne or Montezuma or Copper Mountain will work best for this investment.
The first time vacation home buyer may already have a set price and budget. Do you require something that is well maintained or can you do a bit of fixing up? Do you need to be in a well-established neighborhood when the Summit Stage buzzes past so many areas? Maybe you want something older and larger with a lock-off section that can fetch double rents. Determine your priorities ahead of time. Is location more important or the condition of the property? Do you want a place that will work for entertaining? Maybe you really want curb appeal and style.
You can look on the Internet and wander around town getting a sense of the available properties. But when you really want help from an insider, contact Rick Allemang at www.realestatecolorado.com or (970) 547-1002. Rick is a long-time resident who knows the neighborhoods, the woods, the slopes. He will show you the hideaways south of town and the little niches right under the Main Street lights. Do stick to the basics for this first investment and you’ll be on track to being able to afford your Rocky Mountain dream home in the future.
