Have you ever considered investing in a ski resort property?
Owning your own ski resort can mean any of the following:
- You’re buying it as a second home
- You plan on running it as it was originally intended
- You’re turning it into a rental or a time-share property
- You’re flipping it and putting it back on the market for a profit
Thus, the first rule of any real estate investment, particularly an investment in a ski resort, is determining what you want to do with the property.
Especially when you come across ski property for sale in Colorado, it can be hard to resist the visual grandeur of snow-covered mountains, powdery ski slopes, and breathtaking vistas, along with the opportunity of making the best ski town investment ever.
In Colorado, the possibilities exist inthe luxury ski communities of Telluride, Park City, Breckenridge, and Big Sky.
Why Telluride is among the best ski resorts in the US and Canada
In 2019, CNN Traveler’s Readers Choice Awards named Telluride as the Top 2 best ski resorts in the US and Canada, next only to Sundance Mountain Resort in Utah.
Why? CNN cites Telluride’s:
- Excellent terrain for alpine skiing and snowbiking
- A diverse population of high net worth entrepreneurs happily co-existing with ski bums and artists
- 13-minute gondola ride from Telluride’s historic downtown to the ski slopes that surround it
- Daily flights to and from the Montrose Airport, just a little over an hour away
For the same reasons, Telluride remains best place to buy ski property when it comes to the best real estate investments in Colorado. You can also add Telluride’s:
- Exceptional standard of living
- The variety of properties on offer
- Potential profitability
Here’s a closer look at all of the factors to consider when investing in a ski resort to find out whether it would be suitable for you.
Best ski resorts to invest in
While markets may be uncertain this 2020, those who think in the long term and are looking for the best ski town to buy investment property may well consider Telluride.
It has long been described as Colorado’s “best kept secret” as the best ski town in Colorado to live or visit, up until 2017. More isolated than most as it perches on top of the San Juan Mountains at an elevation of 8,750 feet, Telluride has created a unique, open culture thanks to its diversity.
People have also compared skiing down the steep slopes of Telluride as reminiscent of a European skiing experience. Throw in the town’s annual bluegrass, blues, and beer festivals, and Telluride becomes hard to top for those wanting the best ski town investment.
However, if you want to compare Telluride with ski resort real estate for sale in other areas, here are a few across the United States.
Breckenridge, Colorado is an old mining town that was previously considered somewhat of an undiscovered gem, but in recent years has become one of thegrowing ski towns in Colorado.
Why has it attracted a lot of attention as one of the best places to buy a vacation home in Colorado?
- Investment opportunities on offer
- The community
While it was hit particularly hard during the 2008 recession, it made a remarkable recovery. When the market bottomed out in 2012, prices soared right after. In fact, Breckenridge is a study in resilience, bouncing back from the direst situations.
Many Colorado ski resorts have seen similar surges but none quite as significant as those witnessed in Breckenridge.
Location is one of the key attractions of Breckenridge; it is only a two-hour drive from Denver. And rather than simply being another resort, the town celebrates its storied past. The historic district boasts buildings dating back to the 19th century. This mix has attracted plenty of Colorado investors.
Additionally, Breckenridge offers “ski-in ski-out” houses, which provide convenient access to the slopes. The rental market, too, has been robust, with two-bedroom condos going for up to $750 a night during the peak ski season, which attracts 35,000 visitors in a town with a permanent population of about 5,000.
The resort also boasts:
- 5 peaks with 34 lifts
- The highest chairlift in North America
While it occupies just 5.3 square miles, Breckenridge is the quintessential small town with big city amenities. This is the key reason it is popular with investors. With low inventory and high demand, the town promises fantastic investment opportunities.
In Wyoming, there are several popular ski resorts worth considering. Jackson Hole in Wyoming has garnered serious interest as of late. The location was once known for its rough terrain, but all that has changed with consistent development and a range of amenities. Most skiers and residents refer to the area simply as “Jackson,” even if in the strict sense, Jackson is town located in the Jackson Hole Valley, a 48-mile stretch surrounded by the jagged peaks of the Teton Mountain Range and the Gros Ventre Range.
The resort itself is known as Teton Village, a vibrant community with shops, lodging, and plenty of other amenities. The ski slopes are located on two mountains – the more challenging Rendezvous and Apres Vous’s smoother terrain.
In general, Jackson has a reputation for catering to expert skiers, even if there are plenty of beginner slopes. Those with intermediate skills will also appreciate the smoother slopes.
Jackson Hole touts its friendly community and beautiful scenery. It also boasts a unique Old West character, along with three ski resorts, an 18-hole golf course, trout-filled waters, and swathes of public land. Conservation efforts also ensure that Jackson Hole retains its scenic beauty for generations to come.
Other than skiing, outdoor activities include hiking, fishing, and so much more. All these make the area highly appealing for nature lovers.
In 2019, the average price of a Jackson Hole property was $1.76 million, which came in third in a list of 12 of the highest rated ski towns – even if the price remained steady compared to others. Scarce inventory has resulted in premium prices.
If you like Jackson, Wyoming and decide to shortlist it as your best place to buy ski property, see how it stacks up against the best places to invest in real estate in Colorado. Decide if you’re looking far into the future for an investment you will make today.
Truckee, California is another ski resort real estate investment opportunity. This charming mountain town has been cited consistently as one of the best ski resorts in the US. In fact, it has become very popular for those looking for second homes.
Truckee lies about 10 miles north of Lake Tahoe. The ski resort is set against the backdrop of the Sierra Nevada Mountains so you can expect plenty of snowfall during the peak ski season. It was historically a logging town and it also played a pivotal role in railroad construction. Today, Truckee’s Old West-style downtown has become a creative hub for foodies and artists who run boutiques, dive bars, and highly rated restaurants. There are plenty of craft beer spots as well.
However, the glut of outdoor activities remains the town’s main attraction. Aside from enjoying the ski resorts during winter, locals and visitors alike look forward to rafting, swimming, rock climbing, mountain biking, and horseback riding during the summer months.
Around 68% of residents own their homes in Truckee, with another 31% choosing to rent. Of the total population of around 16,561, half are college graduates. The median income of residents is substantially higher than the national average.
The town’s top employers come from the healthcare and construction industries. Given its vibe, amenities, seasonal activities, and nearby ski resorts, can be considered one of the best ski towns to invest in real estate.
Recent data shows a seven-year growth trend for median house prices in Truckee and the areas surrounding Lake Tahoe. Modestly priced homes sell within 20 days on average. Sales volume remains consistent within Truckee and nearby communities. To those looking beyond current market conditions, Truckee promises to remain an attractive ski resort location to consider for investment.
One ski resort with plenty of potential is Snowbird, Utah. The resort itself opened in 1971 and has been a popular site ever since. It is known for winter powder skiing and snowboarding. The area receives over 500 inches of snowfall per year, which is higher than most of the state. It is known for its deep powder snow that provides an excellent skiing experience.
The resort has been in improvement mode for years, adding new facilities and renovating to ensure it remains a top destination. In 2015, it built The Summit, a restaurant and events venue rising 11,000 feet on Hidden Peak.
In 2018, the Snowbird Center again expanded its facilities. Additionally, a new network of bridges has been constructed to make it easier to access the main areas. Also in the pipeline: an upscale restaurant called Seventy One. All point to why Snowbird remains a top contender when considering ski resort real estate for sale. The popularity of the resort has, in turn, increased its value.
The resort itself is located near the town of Alta, which has plenty of bars, restaurants, and other amenities. If you would like to invest in this ski resort, consider buying now in time for the next winter season.
Which brings us to the best ski resort investment property in the US and Canada.
Telluride, Colorado was initially a mining colony transformed into a ski haven in 1972. In the decades since, it has become home to a cultural and creative scene unlike any other. Telluride is not your typical, cookie-cutter ski resort. The town’s unique identity makes it a magnet for diversity – making it the best ski town in Colorado to live.
Even the fact that the town is relatively remote compared to other Colorado resorts has become a selling point. So is its breathtaking natural beauty. Additionally, the excellent schools and low crime rate are other key factors that make Telluride the best place to invest in Colorado.
The Telluride Ski Resort is state of the art and attracts both professional and intermediate skiers. All 2,000 acres are perfect for skiers of all skill levels. The resort’s 18 lifts and 127 runs clearly show it’s on par with some of the world’s most popular, even as it gets very busy during ski season.
With world-class facilities and a range of amenities, Telluride continues to set the standard for what should be expected from a ski resort. Shops, restaurants, and plenty of other outdoor activities make it an ideal getaway. The town’s historic district also has a wonderful museum where visitors can learn more about the town’s rich and fascinating past.
Therefore it is no surprise that the real estate market in Telluride continues to be desirable. Young professionals make up a significant portion of the population, along with the denizens to whom the town owes much of its endearing – and enduring – quirk. There is plenty of ski property for sale in Colorado, but Telluride remains singular in every way.
Therefore, this is the best ski resort to invest in for those willing to wait for long-term gains. Browse some of the best premium properties in Telluride with the potential to become a fantastic investment. Telluride comes out on top when considering the best ski towns to invest in real estate for 2020.
Best Realtor in Telluride, CO
All of the ski resorts listed above are excellent investment opportunities if you want to look far into the future. It is always worth consulting with a team of local real estate agents that can help you make wise purchasing decisions.
With decades of combined experience, the team of TD Smith has the intrinsic knowledge to counsel any investor in a direction that ideally matches their criteria for the acquisition of a mountain property.
We are always happy to help, and our friendly team will advise you on the best time of year to buy a ski condo, along with other property types. Call 970.729.1577 or send an email to td(at)tdsmith(dotted)com today.