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3 Things to Know Before Buying a Vacation Home

3 Things to Know Before Buying a Vacation Home

So you’ve decided to buy a vacation house, but where do you start looking for one that meets all of your demands? There are many factors to consider while looking for the ideal home away from home, from new appliances and community amenities to location and solitude. For more information on what to consider while buying a holiday house, we prepared a checklist for you!
1. Determine the Type of Property YOU Want
 
It can be difficult to sort through all of the available luxury mountain homes, mountain cottages, high-rise condos, and lake villas. As a result, when searching for vacation houses, it’s crucial to focus on your lifestyle and what you enjoy. Avoid luxurious condos in the city if you prefer a cabin in the woods.
 
Here is a quick checklist of things you need to consider:
Do you have kids?
Do you have pets?
How many rooms do you need for your family?
How often will you visit?
What is your preferred season during your vacation?
Do you have the means to travel to your vacation home?
What kind of activities do you want to do when on vacation?
Will you need a parking space?
What are your preferences in terms of style, and amenities?
Will this be a retirement home?
Are you looking for a Legacy property for your family?
 
2. Figure Out Your Budget
Vacation houses are expensive! Many purchasers are unaware that second-home mortgage rates are higher and that the requirements for financing a second house differ from those for a primary dwelling.
 
What you should know about second mortgages
 
A second residence might be a wise investment. It can not only provide you with a holiday spot and help you avoid costly rentals, but it can also create cash flow.
 
Your vacation house could theoretically pay for itself if you rent it out and utilize the money to pay the mortgage.
 
But before you jump in, make sure you know the laws and requirements for a second mortgage. They’re not the same as the mortgage on your primary residence.
 
Also, if you are thinking of renting the second-home out when you are not there, be sure to check the local laws to see if your property is eligible for that.
 
 
3. Evaluate the Location
Not just in terms of real estate market value, but also in terms of selecting which facilities are most essential to you, finding a decent location for your vacation home should be a top priority.
  • Do you want to be able to walk to the lake from your home?
  • Would you like to be near golf courses or ski resorts?
  • Do you want to go out for some nightlife, dining, shopping, or entertainment?
Consider which places would provide you with the ideal holiday experience, and then search for properties in those areas.
 
Besides the fun activities you can do, you also need to consider the facilities available near your vacation home.
  • Are there any grocery stores?
  • Are medical facilities available?
  • Is the community friendly?
  • Is the area safe and secured from any form of threats?

The Pros and Cons of a Vacation Home

Here are some of the most typical advantages and disadvantages of purchasing a vacation property that might have a significant impact on your life.
Pros of purchasing a vacation home:
  • It’s an investment, and like your principal residence, it’ll probably appreciate in value (especially if you settle near popular areas like a beach or mountains).
  • This property will allow you to save money on a place to stay and stay for longer than you would in a holiday rental, enhancing your own vacation experience. It will also provide you with a location to invite loved ones for some R&R!
  • Make money by renting out this property during the months you aren’t there or even to other vacationers.
  • If you plan to buy a vacation home in Colorado, get help from a local commercial real estate expert to give you the best properties to choose from.

Cons of purchasing a vacation home:

  • Vacation homes are not cheap! You’ll have to pay a new mortgage, as well as property taxes, insurance, and utilities. These fees may imply less money saved for other goals, such as a college fund or retirement.
  • When you’re not there, you must consider the maintenance and security requirements. Even with today’s technology, you can watch your property from afar, but what will you do in the event of an emergency if your vacation house is far distant from your regular residence?
  • Will you become bored with the scenery? This is why it’s critical to avoid making an emotional judgment when buying a vacation home. Do you think you’ll be wishing for a change of scenery in a few years? Will you refrain from taking vacations somewhere else?
Still hesitant? Book a consultation today with a commercial real estate expert to determine the steps you need to take to decide!
Cynthia Daughtrey, Esq.
cynthia@westwardbroker.com
303-548-9659
Can Solar Panels Increase the Value of Your Property?

Can Solar Panels Increase the Value of Your Property?

Solar panels are a great investment for commercial real estate. There are numerous advantages to purchasing solar panels. One of them, it turns out, is an increase in property value and they also help the environment.
 
A study by the University of Colorado Boulder showed that commercial properties located in Colorado with solar panels had their property values increased by an average of $5 per watt installed.
 
Ecological disaster is one of the top three potential threats for humankind according to the World Economic Forum. If a major ecological disaster were to happen, it would lead to a lack of food and water which could lead to numerous deaths. Solar panels are an environmentally friendly option that can provide electricity without releasing greenhouse gasses into the atmosphere. Many companies have installed solar panels to lower their costs and at the same time increase the value of their properties.
The Advantages and Disadvantages of going Solar
 
A solar panel system isn’t cheap, but it pays off in a variety of ways. Consider these benefits and drawbacks when deciding whether or not to switch to solar energy, and do your study depending on your specific region and environment to determine if it’s a suitable fit.
 
PROS: Solar panels reduce your energy expenditures dramatically, lower your carbon footprint and emissions, and protect you from escalating electricity rates.
 
According to the United States, A property with an average-sized solar array is worth nearly $15,000 more to purchasers, according to the Office of Energy Efficiency and Renewable Energy.
 
Other studies have found similar evidence that a solar system can increase the value of your home. A Zillow survey indicated that homes with solar panels sold for 4.1 percent more on average, and a Lawrence Berkeley National Laboratory study found a $5,911 resale increase per kilowatt of solar electricity.
 
Furthermore, several jurisdictions provide homes with tax credits and rebates to help cover the cost of solar installation. This can significantly lower your initial investment and result in a higher return when you sell later.
Transitioning to solar energy has no hard and fast numbers.
 
There are a lot of factors that can contribute to a higher (or lower) return, all of which you should consider as you crunch the statistics and decide whether it’s worthwhile.
  • Your location will have a significant impact on your solar potential. It will also influence how much a solar addition is valued by buyers, with some places experiencing higher-than-average resale values as a result of solar energy and others seeing lower-than-average.
  • Larger solar systems generate more energy and are therefore more valued.
  • When calculating your potential return, consider the average cost of solar installation in your area. It also affects resale value, as some purchasers may determine that purchasing a property that is already set up for solar is more valuable than paying for installation on a home that isn’t.
 
Cons: Solar power is a renewable energy source and is considered to be the most sustainable form of electricity. However, it does have some disadvantages that need to be taken into account before making a decision.
Solar panels are inefficient compared to other sources of electricity such as coal or natural gas. They are also costly and take a long time to pay off. Furthermore, the sun does not always shine, which can result in energy shortages during off-peak hours. Solar panels vary in price based on the region where they are installed, making it impossible to compare them to other forms of energy.
 
Going solar has a lot of benefits for you. Consider making the switch if it’s within your budget and reaping both significant energy savings and a significant rise in home value.
 
For best advice, consider seeking help from a local expert to determine whether going solar is beneficial for your property.
CYNTHIA DAUGHTREY, ESQ.
Westward Advisors – Commercial Team Lead
What You Need To Do Before Putting Your Property Up For Sale

What You Need To Do Before Putting Your Property Up For Sale

In the age of the internet, we have to be more connected to sell a property to that right Buyer. Being top in your field of online engagement with potential Buyers has become easier to get your property out there and receive higher offers from customers.

People can list properties on a number of websites, they can also use email or social media sites. When listing a property on these platforms, they need to be able to provide all the pertinent information about the home so that potential buyers know what they are getting into. This includes pictures or videos of different rooms, amenities offered in the area and information about local schools and activities in the area where they live.

So let’s go over what you need to do when it comes to preparing an effective real estate listing:

Where is this property?

As the property market is becoming more and more competitive, there are many property listing websites that users can choose from. It is important for these websites to provide the most accurate and up-to-date listings as possible.

The main issue with these websites is that they often mix up properties by location. This is a result of using keyword search engines to find properties, where one can use any keywords and not specific property details to search for listings.Your listed property should include details about the property, such as the price, location, and availability.

When to sell your property?

Timing is key in real estate. You have to be strategic when you want to sell your property. You need to take into account various factors such as the time of the year, location, and your personal needs.

There are certain best times of the year to list your home for sale if you want to maximize its value and attract a lot of buyers. The spring and summer months tend to be peak seasons for home sales, but it also depends on the location and what you need from a property in order for it to work well for you.

The time it takes for a home to sell is largely dependent on the preparation done by the seller. Before listing their property, sellers should ensure that their home is in the best condition possible and that its price is competitive. Sellers should also set a timeline and budget for their sale and be prepared to pay all of the expenses that come with it.

Set a realistic price

Pricing is a complicated subject. Property listings and properties themselves vary in quality and location. Setting a realistic price is vital for maximizing your sales and attracting the right clients.

The most important thing to remember when setting a realistic price is that it depends on the property listing, not just on the property itself. A realistic price for your property will depend on the location, neighborhood, amenities, and the condition of your home.

 

A realistic price will help you get potential buyers. A low listing price might lead people to believe that your home is not worth much, or that it needs many repairs, or that there are other issues with the home.

Research comparable properties in your area and adjust your listing price accordingly.

Hire an agent who knows the market

Listing a property is not always an easy task. You have to do the research, gather data, and take photos. But with all these digital advancements, it has become much easier to list your property online and get the best deal possible.

However, it is important to know what you are looking for in an agency before you start looking for an agent. They may specialize in a certain region of property such as rural property or apartments. Or they may specialize in a specific type of property such as commercial property or residential properties.

Hiring an agent who knows the market will increase your chances of getting your place sold quickly and at a higher price than if you were to sell without their help.

That is why if you’re planning to sell, we got you covered!

Westward Advisors will take care of preparing your listings, taking photos for you, and marketing the listing so that you can focus on moving ahead with your life. We are you Local Real Estate Team with a Global Reach that specializes in both residential and commercial properties.

About Westward Advisors

Westward Advisors has accumulated over $400 million worth of real estate in the 15 years it served in Chaffee, Lake, Summit, Park, Clear Creek and Jefferson counties. We are experts when it comes to the understanding of critical deal points such as resort property management, HOA documents, Land conservation easements, water and mineral rights, specific state water access laws and FBO access, and zoning.

 

Westward Advisors has closed more than 500 property deals and raised over $500 million in monetary capital for investors in the last decade all while building inspiring community support. We devote ourselves to connecting our clients to the best mountain resources we can provide. Our network is focused on Resort, Ranch, Estate, Land, Investment, Public Ownership Projects and Land Preservation/easements.

Why Work with Westward Advisors to Sell your current property?

Professional Presentation: Our marketing is crisp and sophisticated. We believe that visually telling each mountain story engages the user and attracts buyers to your property. While there is no replacement for actually being in the mountains and seeing the ranch, our marketing program will bring them as close to that as possible.

Efficiency: We streamline the marketing and sales process to minimize your own time and effort.

Information from One Source:We provide the key pieces of information such as sales data, valuation analysis, title review and resolution if necessary, market trends, tips for better property showings, etc.

Network: From our complete network of Global Agents and area real estate agents to our database of over 120,000 high net worth individuals, we build a personal network for you.

So You Want to Sell?

So You Want to Sell?

So you have decided to sell your property. Before anything else, it is a good idea to sit down and clarify your motivations and draw up a basic time frame for the selling process.

Why Sell?

Why do you want to sell your property? Do you intend to simply find a larger property, or do you plan on moving to another neighborhood, school district, city or state? You might think your reasons are obvious, but it would do well to consider the implications of each option for your lifestyle, opportunities, and finances.

Being clear about your intentions for selling will make it easier for us to determine the most appropriate option for your specified financial, lifestyle, and real estate goals.

When Should I Sell?

You should immediately establish your time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain all of your goals.

If there is no pressing need to sell immediately, you can sit down with one of our expert real estate agents to thoroughly review the current market conditions and find the most favorable time to sell.

What Is The Market Like?

When you work with us, you can be sure that you will have our knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms.

We will keep you up-to-date on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. With us, you will know exactly how to price and when to sell your property.

How Do I Optimize My Finances?

Deciding to sell your property demands a serious consideration of your current financial situation and future possibilities. With the help of our qualified agents, you will be able to effectively assess the cumulative impact of these changes, estimate potential proceeds of selling your property, and plan effective tax savings and estate planning strategies.

 

We will ensure that you not only take control of your finances, but use them to their fullest potential.

 

Schedule a consultation today with Westward Advisors, your Local Real Estate Team with a Global Reach. 1st class Broker Services are here to sell existing property and to assist with coordinating the purchase of that next great opportunity; whatever that goal is, we make Dreams Come True.

 
#sell #selling #seller #sellers #selly #sellyourhome #sellinghomes #property #propertymanagement #propertyforsale #PropertyInvestment #realestate #realtor #realestateagent #commercial #newconstruction #investment

CYNTHIA  DAUGHTREY, ESQ

Commercial Team Lead

LINDSEY STAPAY

Residential Team Lead

Bluesky Breckenridge – Breckenridge Real Estate

Bluesky Breckenridge – Breckenridge Real Estate

Bluesky Breckenridge Condo is a premier resort destination for those looking for a mountain getaway. The most breathtaking views with the best amenities make this the perfect vacation spot.

 

Breckenridge is an exclusive resort town in Colorado, boasting the highest elevation of any Colorado ski area. The area’s ski slopes offer everything from beginner to expert runs, while the town offers shops, restaurants, and activities for all ages.

 

The Bluesky Breckenridge Condo Rentals are located at the base of Snowflake Lift at the Breckenridge Ski Resort and 3 short blocks to Breckenridge Main Street, and surrounded by stunning mountain views. It features luxury condominiums with vaulted ceilings and large windows providing breathtaking views of the mountains. Completed in 2007, BlueSky Breckenridge has 52 high-end Breckenridge condos comprised of:

  • 2 – 1 bedroom condos

  • 34 – 2 bedroom condos

  • 12 – 3 bedroom condos

  • 4 – 4 bedrooms condos

Residents can enjoy amenities like heated outdoor pool with hot tub, state-of-the-art fitness center, game room with pool table and shuffleboard table. Other amenities include an on-site concierge service to help you get reservations at top local restaurants or book your airport shuttle ride home.

 

That’s not all! It also has a fitness room, game room, library/computer room, and a CU Tavern where you can have a drink and appetizer. If you are looking for some pampering, book a massage, manicure or any service at The Spa at Breckenridge located onsite next to the seasonal ski shop.

 

While enjoying your Breckenridge condo park your car in the heated garage and take the shuttle to and from town to enjoy all that Breckenridge Main Street has to offer.

If you are looking for luxury condos for sale in Breckenridge Colorado look no further, BlueSky Breckenridge offers full amenities at a great location. You can’t get much better than BlueSky Breckenridge when looking for condos for sale in Breckenridge Real Estate.

 
#breckenridge #breckenridgecolorado #breckenridgeoutfitters #Breckenridgerealestate #breckenridgerealtor #breckenridgeskiresort #mainstreetcolorado #condo #realestate #blueskycondo #colorado #ski #luxuryrealestate (Photos courtesy of TripAdvisor.com)

To arrange a time to view the condos for sale at Bluesky Breckenridge or other properties in Breckenridge, CO real estate contact Lindsey@westwardbroker.com or call her directly at at 970-435-5700.

 

You may also set an appointment here!