Aside from being a great investment, a ski condo offers the serenity of being away from city-life and nearest to spectacular views and outdoor activities. If you’re thinking about buying a ski condo in Colorado, there are plenty of options and, for good measure, here are the best ski towns near Denver.
Why Buy a Colorado Condo?
First, condos are often considered better choices than houses in Colorado. If you intend to use your condo as a weekend retreat, you will appreciate the amenities and the fact that outside work—grass cutting, snow removal, and landscaping—are all done for you. This leaves your week-ends free to spend on the slopes. Moreover, your corporation owns the exterior of your condo. A reserve fund is set up so repairs and replacements required to the building structure will be looked after by a site manager.
Also, if you are a retiree, you may not feel up to maintaining or attending to the physical requirements of owning a home. Perhaps you’d rather spend your time socializing. Condo complexes are often set up for that. If you buy a house, there is usually more responsibility and expenses to grapple with. With condominiums, you can rest on convenience and simplistic living.
Further, condos, also, are often less expensive than houses and can be a great investment. In USA, according to the National Association of Realtors, the average price of a home in America was $240,000 in 2018. Condos were selling for $10,000 less. The difference is even more pronounced in some areas. Condos, traditionally, take up less room so land costs are greatly reduced.
Overall, we rated the best locations for buying a ski condo in Colorado. Here is the list!
1. Fraser, Colorado
Located in Grand County, in the Fraser River Valley, the town of Fraser had a population of just over twelve hundred in 2010. This has mushroomed with permanent and vacation condominium developments being bought up by ski enthusiasts and retirees. Two examples are:
First up, the Grand Park community, located within Winter Park. It includes both houses and condos. The aim of this development is to create a friendly living space for its residents while enjoying the mountain environment in which it is located.
Nature lovers, hikers, ski enthusiasts who want a rural setting will find just what they need here. Also, they are still within easy driving of urban conveniences like entertainment, outdoor activities, and big-city shopping in nearby Denver, Colorado.
Other appealing features of Grand Park condo life include proximity to premier ski, snowboard, and sledding. Year-round river sports and hiking, biking trails are right within the park.
In addition, condo prices in Grand Park tend to run from $200,000 to $250,000 for a one-bedroom one-bath unit. Two-bedroom, two-bath condos range from $300,000 to $400,000. Three bedrooms, three bath condos just under 250,000 square feet are priced over $650,000. Resale value continues to climb at an average of 20% per year. Thus, condos are considered a great real estate investment at present.
Elk Creek Condos
Similarly, part of the Grand Park condo development, Elk Creek condos are located in Fraser Colorado. The condos look out on open meadows. Social and recreational facilities and activities are an integral part of this complex. The development is close to both the Grand Park Community Recreational Center, and the Village at Grand Park. It is just a short drive to Winter Park Ski Resort.
Condos run $200,000 to $225,000 for one-bedroom, one-bath suites and $250,000 to $300,000 for two-bedroom, two-bath units. Some three-bedroom models are available for between $350,000 and $400,000.
Fraser Colorado, condominium sales, prices have increased by 20% in the past year. Both sales and construction of new condominium complexes are brisk. For those who bought condos as an investment it is not unrealistic to expect to make a profit of between 15% and 20% in a year.
So, if you want to explore other Colorado ski condo options, you might like to look at these:
2. Crested Butte, Colorado
Located in the Gunnison Valley and boasting a population of almost 1500, Crested Butte is dubbed the last great Colorado ski town. Slightly bigger than Fraser, Crested Butte has average house prices over $500,000. Condo prices run $650,000 to $850,000 for three-bedroom, two-bath, $400,000 to $450,000 for two-bedroom, two-bath and $200,000 to $250,000 for one-bedroom, one-bath units.
This makes it more costly to reside here than in Fraser, CO. Fortunately, price trends are not increasing as rapidly in comparison with other ski resort cities. Sale and resale opportunities on both homes and condos are brisk. Although you will pay more to buy here, your investment will show solid gains. If you bought condos as an investment, it’s not unrealistic to expect profits between 15% and 20% per year.
In a beautiful rural setting, Crested Butte offers lots of exciting activities like skiing, hiking, mountain biking, and snowboarding.
3. Frisco, Colorado
To start, Frisco is a smaller area with a population of almost 2,700. It also has lots of things to do including hiking, skiing, and snowboarding at Frisco Adventure Park and water activities on Lily Pad Lake.
Average home prices are in excess of $750,000. Condo prices are between $875,000 and $950,000 for three-bedroom units, from $650,000 to $800,000 for two-bedroom condos and $380,000 to $400,000 for one-bedroom units.
In short, Frisco is a popular town in which to live so real estate activity is growing steadily. You will make money on real estate investments if you are prepared to wait.
4. Steamboat Springs, Colorado
Located in the Yampa Valley, Steamboat Springs is a small city with a projected growth rate of 50% over the next decade. Needless to say, this presents plenty of opportunities to cash in on real estate investments.
Median home prices are just under $600,000. Condos here sell for $150,000- $240,000 for a one-bedroom, one-bath condo. Two-bedroom, two-bath condos go for between $250,000 and $300,000.
The town is often called “Ski Town USA” and, ironically, boasts no steamboat. Hot spring in the community makes a chugging sound; hence the name. Additionally, with a town elevation of almost 7,000 feet its surroundings are picturesque and quintessential mountain living. A particular point of interest, MountWerner—a practice run for professional skiers—towers 10, 568 feet over the town.
Lastly, Steamboat Springs is a popular place to live with its warm welcoming community and its beautiful green spaces. Olympic skiers use Howelsen Hill Ski Area to practice. This small city has lots of attractive shopping and dining opportunities.