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Tips for Buying a Vacation Rental Property in Aspen and Snowmass

Posted: 13 Jul 2016

"Location, location, location" is the most common phrase in real estate when discussing a property's characteristic that determines value. Aside from monetary value, properties can be considered most valuable to a buyer by ease of use and enjoyment as a vacation rental property. Buyers should first consider what season they will primarily use their new vacation home, how much time they will spend in their vacation home and what activities they usually do while in residence. This will help them narrow their search to find the right property in the right location for their lifestyle.

Aspen real estate

Buyers should always evaluate what their budget will be to buy a vacation rental property and determine the annual operating costs they will have. There are many factors to consider in addition to the purchase price in calculating the costs to own property. In Aspen and Snowmass, many areas have transfer taxes that add to the initial purchase. Additionally, homeowner's association dues are normal for condominium complexes, fractional properties and some residential subdivisions. Utility, routine maintenance and capital costs also should be considered.

The Aspen/Snowmass resort communities offers many types of residential property for sale from which to choose. Each offers different advantages to a property owner. Buyers who may want to use their property in the summer and for longer visits might likely want a home outside the busy core area, for example. Winter users who want to primarily use their property for skiing vacations and use the property a few weeks a year, likely will want a core-area condominium. Buyers who want onsite services and luxury property finishes, yet only have a few weeks a year available for vacation, might find a fractional condominium in the luxury-branded buildings best for their needs.

Frias Properties professional brokers are available 24/7 to help buyers find the best property for their needs. We also can rent and professionally manage the property after purchase to give all buyers the peace of mind that their valuable asset is taken care of.