Vacation Property and Second Homes in Colorado

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Owning Rocky Mountain High Colorado vacation property and second homes insures quality family get-aways plus a financial investment with great returns. Finding a perfect vacation or second home property has never been this easy. You can search MLS for many of the available properties in the Summit County area. We offer a wide variety property for vacation and second homes, condos, duplexes single family and cabins to meet your investment needs. Whether you are looking for a condo in the Summit county ski resorts, a remote cabin or a full time single family residence, we can accommodate you! 

According to a study released by the National Association of Realtors, second and vacation homes in Colorado and around the nation accounted for more than a third of residential real estate transactions in past years. Second homes typically fall under the Colorado classification of vacation property. However, many owners also rent out their unit. When it comes to investing, whether it's a single family or condo, an investment in Summit County Colorado real estate is pretty much a sure thing. Just ask any current owner and you'll get the same reply. We're in the heart of the Rockies offering holiday goers and owners alike a huge variety of year round activities such as snow sports, mountain biking, fly-fishing, hiking, kayaking, white-water rafting, sailing plus unique shopping and dining experiences.

Over 20 percent of houses and condos bought last year fell into the category of investment rental properties. This means that owners use the house primarily as a rental. The number of sales in this segment increased 14 percent last year. Vacation property used as second homes primarily by the owners represented 13 percent of transactions last year, with the number of sales in this segment increasing nearly 20 percent. The definition of second homes for vacation property in Colorado is changing with the buyer's shift toward investment uses. Looking at census data to determine the number of investment units, we see that Colorado second homes for vacation are a somewhat smaller element than them being mostly investment property.

 

Who is buying Colorado second homes and vacation property?

Statistically, the typical person investing in rentals is 47 years old and earned about $85,000 in recent years, while the typical second home buyer in Colorado is 55 years old and earned $71,000. When asked why they bought, respondents said they wanted a place to get away, diversify their finances or earn rental income.

Most people said they considered the purchase a good investment, so much so that 38 percent said it was very likely they'd buy yet another within the next two years. In the Colorado past, second homes and vacation property required larger down payments and were financed with higher interest rates. Today, even rental units are relatively easy to finance at good interest rates and low down payments. This assumes your credit is pretty good and debt load within reason. There are programs for less than perfect credit and self-employed persons unable to document income

Be part of this special retreat. You can own your own piece of this Rocky Mountain paradise. You can purchase Colorado's vacation property and  second homes and get some of the sales price paid back to you in cash to help pay the down payment, closing costs or even to furnish your new house, duplex or condo. You'll also receive mortgage loan financing incentives which further reduce the expense of ownership of this special resort area. Pre-qualify today and see just how affordable it can be to live in Summit County.

 

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