Weekend getaways can lead to life-enhancing, profitable real estate deals
I Know. My wife and I have bought a vacation home and three full-time residences in areas we discovered on weekend getaways. In each case, we needed and received help from a competent local real estate professional.
Gorgeous vistas, a vibrant cultural scene, world-class fishing, great food and wine and friendly people make Colorado’s wine country an ideal place for a vacation home. It often begins by renting while you get better acquainted with the area and what the housing inventory is like.
I should also mention that there are prime vineyard sites available on the western slope at modest prices. As more people discover the charm and value of Colorado’s wine country lifestyle, that will change.
Vacation rentals
Let’s say that you’ve found a weekend getaway destination so delightful that you want to rent a place in the area for an occasional week, a month or a season? For sound advice from folks who have been renting vacation digs for years, see Vacation Rental Guidelines.
How to find help
Most people end up dealing with a real estate agent they found “by accident,” as a result of answering an advertisement or by “dropping in” to a real estate office. The advertisement said something about a property for sale, but nothing about the agent. Dropping in is okay if your purpose is to meet the boss, not whoever happens to be there at the time.
Buying or selling a vacation property is usually a long-distance affair. You need help “on the ground” locally. For ways to find a real estate professional in Colorado wine country who will get the job done with everyone coming away happy, see A Real Estate Agent for Vacation Properties
Buying a vacation home
You’ve found the right location for your vacation dream home. However, you might want to review and consider everything that could effect in your ability to enjoy your property in the future. Consider, for example, how often you will use the property. Do you intend to retire there? Will you rent out your vacation home part of the year? Is it accessible year around?
Vacation Home Partnerships can lower the individual’s cost of ownership and maintenance. This site has tips on how to make it work.
Buying Land
What do you do when you’ve found the perfect location, but there are no homes available in you price range or that fit your lifestyle needs? As we mentioned above, affordable land is still available on the western slope for building a cabin, your dream home or acreage for growing grapes.
Renting it out
Tips on Renting a Vacation Home to strangers when you’re not using it, which can offset part of the costs of ownership. The downside is that your vacation home then becomes a business.
When you're ready to sell
Don’t put your vacation home on the market until you’ve taken a close look at its condition. You get only one chance to impress a prospective buyer. Too make sure it’s your house they come back to see for a second time, see Tips on Selling a Vacation Home.