Perfect town #3
Following up last week’s article on buying a vacation home in Beaver Creek, Colorado, I will introduce you to a little town called Breckenridge. Well ok, it isn’t that little. It is a great ski town with a small-town feel. As usual, I will compare roughly a 1,000 square foot condo: purchase price, monthly mortgage rate, rental income value, nightlife, and other things to do around town.
Lucky for the residents, the nightlife in Breckenridge usually includes live music. Cecilia’s is a nightclub and cigar bar that boasts live music, dancing, and very fancy-pants martinis. I know from personal experience that the Park Avenue Pub has great food and a quieter atmosphere. It is a great place to hang out for a relaxed night on the town.
Full of Options.
Not only are there amazing ski runs in the winter, but there is also adrenaline-pumping white water rafting in the summer in Breckenridge. There are numerous outdoor concerts and festivals in the summer, some pretty awesome t-shirt shops, and great access to hiking. Of course, there is the Breckenridge ski resort. It has amazing terrain, sweet parks, and beautiful snow. What’s not to love?
Money, money, money.
For a ski-in, ski-out, 2 bedroom, 2 baths, 1059 square foot condo in Breckenridge, Colorado, you can expect to fork over roughly $769,000. This is much cheaper than the Aspen condo we talked about a few weeks ago, but still a pretty penny. The average monthly mortgage payment would be around $3,446.00 a month. There is a way to recoup some of that money through renting the condo when it is not in use by you and your family.
Share the love.
By renting the condo, you can expect to charge about $4,000.00 a month during high season, which can be summer or winter in this versatile town. Make sure you check with your local buyers’ agent to find a reputable management company to make sure everything is taken care of while you are away. Colorado buyers agents also have access to all listings, have great local resources, and superb negotiation skills. All while providing 100% buyer representation.
What are you waiting for? Get a FREE consultation with a local Colorado buyers agent today!