Everyone knows Breckenridge is a beautiful place to live, but for those seeking an investment property, Breckenridge real estate is a prime choice. Some buyers never use their homes, but engage the services of a property management company and rent them out as permanent or vacation rentals. Others, enjoy the perfect ski or summer getaway, that pays for itself by renting it when it's free.
Both alternatives work well, depending on your needs, but it's important that you choose a Breckenridge home that has the qualities that best serve as an ideal rental property. Things to consider include:
Location, Location, Location
When seeking Breckenridge investment real estate that's suitable for rental income potential, location should be a key factor. The rental property should have the best location with regards to easy access to Main Street, Breckenridge and the ski slopes or a lift. If they are ski in, ski out, so much the better. If they are walk to the ski lift, Main Street and a short walk back that is good also. The most common type of investment properties in Breckenridge that meets these requirements are condos or townhomes.
If there is a single family home that fits the bill, all the better; however, the price of a Breckenridge home in this type of prime location may be cost prohibitive for most buyers. A true ski in, ski out home will start at $3 million, unless it is older and needs some work. You can get some single family homes in the $800k range and up if they are walking distance, or a short free bus ride.
Good Investment Communities in Breckenridge
Ski In, Ski Out Condos
505 S. Main Street, Breckenridge - MLS® #S384774
This luxury penthouse suite in Main Street Station is the ideal investment property. Overlooking the river and mountains east to west, it's situated right on the slopes of Peak 9. After a day on the hills, Main Street dining and entertainment venues are right out the front door. It's perfect for upscale rentals and owner use, plus competitive owner financing is also available. View complete listing
Other good examples of ski in, ski out condos would be One Ski Hill Place, Park Place Condos, Sundowner Condos, Pine Ridge Condos, Elk Ridge Townhomes, Highlander Townhomes, and Saddlewood Townhomes.
Ski In, Ski Out Neighborhoods
82 Sawmill Run Road - MLS® #S382174
Tucked in the pines, right at the base of Peak 8, this Breckenridge ski home backs right onto the ski trails and is just three minutes to Main Street. Imported from Sweden, this hand crafted Stuga oozes 4,000 square feet of charm and warmth. With 4 bedrooms and 3.5 baths, this is the quintessential family ski rental. Located in Four O'Clock subdivision, this area is a good option for Breckenridge rental properties. View complete listing
Other good ski in, ski out single family neighborhoods in Breckenridge include Timber Trail, Trappeurs Glenn, Tyra Sub, Sunrise Point PUD, Shock Hill, Snowy Ridge, Westridge, and Ski Home.
Financial Considerations
The rental income will not pay for all costs involved in ownership of the property and the monthly cost to own is obviously dependent on how much a buyer puts down, and how much of a mortgage they carry. However, there are tax benefits and deductions (speak to your CPA!) that owners can benefit from. A rental property also offers a way to diversify an investment portfolio with something other than the stock market, and offers a tangible asset that they and their friends and family can enjoy.
The Breckenridge Investment Opportunity
The amount of available land in Breckenridge is running out, and currently runs at about 97% build out. The town and general area is surrounded by National Forest Service (rather like ocean front properties) and once build out is reached, the prices will escalate. We've seen this over and over again in other similar markets - Aspen is a perfect example.
Location, timing, affordability makes Breckenridge a wonderful location to invest in real estate, and create many wonderful memories with your family and friends in the future! Please, don't hesitate to contact Andrew to learn more about investment real estate opportunities in Breckenridge.
Posted by Andrew Biggin on
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