Best Ski Towns to Buy a Second Home in Colorado
Today, Colorado is experiencing an unprecedented level of growth. Economically, Colorado is growing more than almost any other state in the US. You can see this growth in industries such as agriculture, as well as oil and gas. But, a significant amount of this growth is taking place in the real estate market. Denver, in particular, is one of the most competitive housing markets in the US.
As a result of the competitive real estate market in Denver, the capital of Colorado, many people are looking towards other real estate investment opportunities in Colorado. Ski towns are one of the best real estate investment opportunities, and this entire real estate market is significantly less crowded than that of Denver’s real estate market.
When Colorado residents want to go on a vacation or a short weekend trip, they tend to go skiing. The same is true of the new Colorado residents that will soon be moving in. Due to the incredible growth that Colorado is experiencing, ski towns are about to become a lot more popular.
You don’t need to invest in the standard real estate market found in Denver. Instead, investing in a ski town is a much wiser, and far less costly, investment, that will pay off big time.
Investing in a ski town requires you to understand where the best investment opportunities are, so keep on reading and you’re going to learn what are the best ski towns to buy a second home in Colorado.
What Are The Best Ski Towns For Investing In Colorado?
Fraser, Colorado, is a town of only 1,224 people, and a median home price of $314,200. Investing in Fraser is quite a bit easier than investing in the other ski towns, due to the low home prices, small population, and abundance of real estate development.
Slowly, but surely, real estate prices are rising. There is a significant amount of growth taking place, and the low home prices Fraser currently offers won’t exist forever.
What makes Fraser such a great ski town, and more than worthy of your investment, is the fact that it offers an abundance of fun things to do, cultural activities to engage with, a kind and welcoming population, affordable housing for investors and visitors, and steady growth rates that continue to pay off.
More and more people are in need of a weekend vacation spot, and Fraser is quickly becoming “the weekend vacation” for many of Colorado’s new residents since many of the other ski towns are either difficult to get to, or just too expensive. As a byproduct of this, the real estate market continues to grow at a steady pace, only getting bigger and bigger, all while the prices remain low and accessible.
Crested Butte, CO:
Crested Butte, Colorado, is a little bigger than Fraser, with a population of 1,487, and the median home price is $591,700.
In comparison to Fraser, Crested Butte is more challenging, when it comes to investment, due to the higher prices. There is a steady amount of growth, in the real estate market, but quite a few investments have already been made, and this growth isn’t as significant as some other ski towns.
With that being said, though, there is a reason Crested Butte is considered “the last great Colorado ski town”, regardless of whether or not that claim is accurate. In Crested Butte, visitors have easy access to skiing, mountain biking, all kinds of fun hikes, as well as a litany of different festivals and parades that take place all year. No one is bored when staying in Crested Butte, and it is a lovely ski town that offers a wealth of exciting and enjoyable things to experience and do.
As the population of Colorado grows, the real estate market of Crested Butte will only continue to expand. While the high costs are certainly a barrier for most people, Crested Butte is experiencing steady growth that will continue for years to come, ensuring that your investment will pay off.
Steamboat Springs, CO:
Steamboat Springs, Colorado, is located in the Yampa Valley, and with a population of 12,148, it’s less of a small town, and more of a small city. The median home price is $594,800, reflecting this status, and its popularity.
Steamboat Springs is a small city that serves as a lovely place to live. The locals are kind and welcoming. There are all kinds of nice amenities, such as supermarkets and clothing shops. Most important of all, however, Steamboat Springs is stunningly beautiful with countless parks and natural spaces that look as if they were painted on a canvas. And as for the skiing, the Howelsen Hill Ski Area is where many Olympic skiers practice.
The population of Steamboat Springs is growing slowly, but surely, and within the next ten years, it’s estimated that there will be 57.0% job growth, along with a growing need for real estate.
Frisco, CO, has a population of 2,697, and a median home price of $745,500. In comparison to the other ski towns, Frisco is quite expensive, and this is due to the popularity of the town.
A stay in Frisco brings with it many fun and enjoyable activities. Activities ranging from skiing, hiking across the Frisco Adventure Park, visiting the Frisco Nordic Center, and relaxing at the Lily Pad Lake.
Many people are drawn to these activities, and there has been a steady amount of growth within the real estate market. This growth is steady, but not particularly high, and due to the high home prices, it may take some time before you recoup that investment.
Telluride, CO, has a population of 2,019, and a median home price of $891,500. When it comes to making your investment, Telluride is expensive and this has dissuaded many people from investing.
Visitors love to explore the various parks and trails that Telluride offers, while also enjoying the welcoming and open atmosphere that the locals bring. Within the past few years, Telluride has become significantly more popular with younger visitors, and the real estate prices have skyrocketed.
Telluride has already seen a lot of growth, and this growth has slowed down quite a bit, while the housing prices remain quite high. As investments go, it is quite uncertain, but a good investment brings many financial rewards.