Is vacation ownership right for you?

Here in Steamboat Springs, our real estate market is incredibly diverse. Our community boasts everything from multi-million-dollar estates to studio condos to cozy cabins in the woods.

Some of our residents live and work here year-round, while others stay for only part of the year. Still others want to own a piece of paradise, but only reside here a few weeks or months each year. For those folks, they can choose to rent a home or condo during their stay, or they can choose to buy a home that can be used as their vacation home base.

If you choose to buy a vacation property in Steamboat Springs or anywhere else, there are some pros and cons to consider:

Pros

• Long-term investment. While real estate carries no guarantees, owning property in a popular resort area can make long-term financial sense. You can often sell the property for a nice return.
• Rental income. In a resort area, vacation rentals are in high demand. Your property can make money for you when you are not enjoying it yourself.
• Personal enjoyment. Owning a vacation property means you have a home away from home in one of your favorite places. You can decorate it and fill it with your favorite things.

Cons

• Up-front cost. Purchasing a second home, or vacation home, can be costly in the beginning. Down payments, mortgages, the cost to renovate and/or furnish the home can add up. (Keep in mind that renting out the property later can help you recoup some or all of these costs.)
• Maintenance. All homes comes with some level of required maintenance, and that can be difficult to manage if you are not on-site. Working with a reputable property management company can help alleviate this stress, but be sure to factor in maintenance and management costs when making your purchase decision.

Buying a vacation property comes with specific requirements and considerations. Working with a skilled real estate agent who has experience with vacation properties can make the process much simpler.

If you are interested in vacation property in Steamboat Springs, contact us. We will put our nearly 30 years of experience to work for you.

Come home to your ideal community

One of the first steps in the house-hunting process is narrowing down where you want to live. You have likely already identified your target city or town (if you haven’t, we of course recommend living in Steamboat Springs), but choosing just the right neighborhood can be a bit more tricky.

There is no single ideal neighborhood, because each person and each family has a different set of needs and wants. Consider the following factors when deciding on your ideal area:

• Commute time. If you are relocating for a job, it often makes sense to live near your office or choose a neighborhood with access to public transit. Consider how long you would like your commute to be and then identify neighborhoods within that range that also fit your budget.
• Proximity to people. Do you want to be around a close-knit community of people, or are you craving space and tranquility? A condo community with scheduled activities might be one person’s ideal, but acreage in the woods with few neighbors might be another’s. Your real estate agent can help point you in the right direction.
• Nearby activities. If it’s lifestyle you’re after, which is the case for many people who move to Steamboat Springs, access to nearby recreation can make or break a neighborhood. Ski lifts just outside your door or waterfront access to the river for fly-fishing can be the deciding factor between two prospective homes.
• Neighborhood culture. To get a better feel for an area, drive or walk through at different times of day. Are kids out playing? Do you see residents out talking to each other? Get a feel for the neighborhood’s unique personality and then decide if it is a good fit for yours.
• Safety. A sense of safety and security is important to all of us, but certain safety features can rank higher in importance for some buyers. Gated communities, on-site security, regularly maintained and clear walkways and entryways can be especially attractive if safety is a top priority.

To learn more about living in Steamboat Springs and to find the right Steamboat neighborhood for you, contact us using the form below. We know the area inside and out, and we would be happy to help you find your dream home. 

Consider cost vs. value before remodeling to sell

Memorial Day weekend often marks a shift in the neighborhood. People get outside more, and it’s often the time that people start major projects – both indoors and out. Roofers, landscapers, house-painters and contractors all look forward to increased business this time of year.

Some of those projects are underway because homeowners are hoping to prepare their home for sale. Remodeling can add value and increase your home’s appeal to buyers, but it pays to know which projects are worth the investment and which ones are better left for the homebuyer to do later.

Remodeling magazine maintains annual data for 30 common home remodeling projects, which can be a helpful tool when deciding whether your planned project is worth your time and money.

Which home upgrades pay off and which don’t? We took a look at the data for the Mountain region in the magazine’s report, focusing on midrange projects:

• Attic insulation: Sellers recouped 95.6 percent of the cost of adding insultation (average price $1,248). We know that proper insulation is extra important in our mountain town, so this project might be a good idea for Steamboat home sellers.
  
  
• Minor kitchen update: The cost recouped is about 78.2 percent for remodels that include updating cabinet facades, replacing flooring and updating laminate counters. The recouped cost for more involved (and expensive) kitchen remodels goes down to 64.6 percent. So, maybe scale back your planned kitchen project.
  
  
• Deck addition: We love our decks here in Steamboat and they are an attractive feature for most buyers. Adding a wood deck (69.4 percent) will give you more ROI as a seller than adding a composite deck (58.9 percent), but keep in mind that buyers will be looking for decks that weather well in our climate.
  
  
• Curb appeal: If you are looking for ways to improve your home’s outward appearance, consider a front-door replacement (79.5 percent return) or adding stone veneer in place of some siding (80.1 percent return). New roofing has a lower return (66.9 percent), but it’s one item that will be flagged in the home inspection, so it’s worth considering. 

View the full list and average cost vs. return here, and then plan accordingly as you consider potential home remodeling before selling your home. Your real estate agent can also offer advice on which items can help your home sell faster.

If you are buying or selling a home in Steamboat Springs, contact us. We will put our nearly 30 years of experience to work for you.

The slopes are closed, but there is still so much to enjoy

Steamboat Springs is world-renowned for our snow, winter sports and Olympians, but warmer weather brings a whole new life to our western mountain town. The hills pop with color as wildflowers begin to bloom, and you will see locals and visitors alike exploring the town, and the hills and rivers, during spring and summer months. 

Below are just a few more reasons to love living in Steamboat Springs. Set aside time in your summer schedule to enjoy these summer activities in Steamboat: 

• Mountain biking. If you miss the adrenaline rush of hurtling down the mountain on skis or a board, then mountain biking might be just your speed (whether you ride slow or fast). It's a great way to enjoy the beautiful trails and scenery of the Steamboat area while burning off a little steam. Start here to find the right trail for your next biking adventure. 
• River rafting. From scenic float trips to faster-paced, advanced runs, rafting is a great way to get outside in the summer and gain a different perspective on your surroundings. Check out just a few upcoming Steamboat raft trips here.
• Parks and trails. You don't have to leave town to enjoy the outdoors. The Yampa Core River Trail connects the town of Steamboat Springs to the river and nearby parks, including the six-acre Yamps River Botanic Park, which is home to 40 gardens and several sculptures. 
• Waterfalls and wildlife. Steamboat's many nearby hiking trails offer a variety of experiences and opportunities to view local wildlife. Try one of these favorite Steamboat trails this summer. If you do encounter wildlife, be respectful: Don't feed or disturb wild animals, and stay a safe distance away. 
• Fishing. Fly fishing along the Yampa River can be one of the most peaceful and relaxing experiences anywhere. Visit one of our local fly shops or outfitters to buy your fishing license and gear, or book a guided fly-fishing trip, and try your hand at this sport that is part art and part science. 
• Pro Rodeo. Starting June 17, Steamboat Springs hosts Pro Rodeo events every Friday and Saturday night. Enjoy an authentic western BBQ dinner while you take in the show. View the schedule here. 
• Art. Summer evenings offer a perfect opportunity to explore Steamboat's incredible art galleries, and the Art in the Park (July 9-10, 2016) and Colorado All Arts Festival (Aug. 15-21, 2016) events offer even more artistic and sensory experiences. 

Steamboat Springs offers a rich lifestyle, from outdoor recreation to arts and history. Learn more about living in our beautiful Colorado mountain town by contacting us. We have nearly 30 years of experience in real estate and can help you find your dream Steamboat home. 

Show off your home’s best assets

It is May, and homebuyers are out in force. With the school year wrapping up, many buyers are looking to move over the summer break, so now is a great time to show them why your home is their perfect future home. As potential buyers drive through your neighborhood, you want your home to call out to them. Curb appeal can make a big difference in whether someone chooses to schedule a viewing of your home for sale.

Here are a few ways to add to your home’s curb appeal for the summer:

• Add life. Add flowers and colorful plant to your porch, walkways, front windows and decks. Live plants make a home feel, well, more livable.
• Front and center. Add a new doormat and front door decoration. Fresh, clean decorations around your front door invite people to come inside.
• Tend the yard. Mow the lawn, trim edges and weed flower beds. When you’re done, be sure to place the lawnmower and other implements out of sight.
• Spruce up balconies. If you don’t have a yard, highlight any outdoor space you do have. Scrub balcony railings and light fixtures and add a new chair and table to show how the space can be used.
• Replace old items. Give your home’s exterior subtle new life with new house numbers, a new mailbox or a fresh coat of paint on shutters.
• Clean up yard clutter. Stash kids’ outdoor toys, bikes and other items to give the impression of space in the yard and patio areas.
• Let in light. Wash windows and clean window treatments. Even from the outside, well-dressed windows can help give the impression that your home feels light and airy inside.

If you would like to learn more about how to market your home in Steamboat Springs, contact us. We will put our nearly 30 years of experience to work for you.

What your inspection should cover

One of the final steps when purchasing a home is the home inspection. While the inspection will run you a few hundred dollars, it is money well spent that can help identify serious issues or give you more peace of mind for signing the final papers.

Here are the main items your home inspection will cover:

• Roof. The inspector will look for any signs of loose or missing shingles, weak spots, missing flashing or other roof issues. 
• Exterior. He or she will check the condition of siding, brick, porches, decks, driveways and, importantly, the foundation.  
• Insulation. Inadequate insulation will be noted.
• Interior. The inspector will check for loose drywall, cracks in the ceiling or walls, leaks in the basement or crawl space, a shifting floor in the garage and other structural issues. 
• Furnace, air conditioner and water heater. Your report will include details about the type of heating and cooling, the age and condition of each system. It will sometimes include an energy efficiency rating as well.  
• Electrical. Your inspector will indicate the type of wiring, condition of the system and number of outlets in each room. 
• Plumbing. He or she will look for good water pressure, as well as signs of leaks or other issues. 
• Code issues. Any areas that are not up to current code will be noted. In some cases, you may be able to ask the seller to address code issues.

The home inspection gives you a final opportunity to back out of a home purchase, should it uncover any major issues. It also gives you the chance to ask the seller to make any final repairs or code updates to the home prior to the closing. While a home inspection is not legally required, we highly recommend including this step in your home-buying process.

To learn more about buying a home in Steamboat Springs, contact us using the form below. We will put our nearly 30 years of experience to work for you. 

How to save money while insuring your home properly

If you are preparing to buy a home, one necessary next step is to secure homeowners insurance. Most mortgages require it, and it will help protect your investment from natural disasters, accidents and other loss.

Your policy will help cover the home itself, your belongings and help protect you from liability if others are injured on your property. We will talk about the details of what homeowners insurance should cover in a future post.

Below are a few ways to save on homeowners insurance:

• Insure for property value. Your policy should cover the replacement cost of the home, which is not the same as market value. 
• Maximize your deductible. Set your deductible at a higher, but comfortable level, to lower your premium. 
• Ask for discounts. Your insurer most likely offers discounts based on a variety of factors, including safety upgrades to the property, holding multiple policies with the insurer, being a non-smoker, retirement and more. These discounts vary from company to company, so shop around. 
• Group rates. Membership with certain groups or associations may help you gain access to discounted rates on insurance. 
• Review your coverage periodically. Make sure that you are not over-insured for items that you no longer own or that may have depreciated over time. 
• Premium comparisons. Each state offers insurance premium comparison reports. To access the one for Colorado, click here.

Homeowners insurance is a necessary part of home ownership, but with a little research and persistence, you can save some money on this expense. You want to be sure that you have sufficient coverage without blowing your budget.

To learn more about home ownership in Steamboat Springs, contact us using the form below. We will put our nearly 30 years of experience to work for you.

Homebuyers are wise to look for these potentially costly issues

When shopping for a new home, people can get swept away by their emotions. That four-bedroom home with the big yard and three-car garage might tick all the boxes on your wish list, but hidden issues could make your dream home more of a nightmare to own.

A home might seem perfect on the surface, but all homebuyers should be sure to look for potential issues. Your experienced real estate agent will help guide you through potential issues, but here are just a few to note:

• Water damage. Stains on ceilings, walls and baseboards can offer clues to past leaks. Note any additional damage that might have occurred due to a water leak
• Foundation problems. Large cracks can be an indication of shifting foundation, which could lead mean expensive remediation in the future.
• Drainage issues. Standing water in the yard, in the basement or near a home’s foundation could be a sign of drainage problems. Again, these repairs could be costly.
• Outdated electrical systems. Electrical systems that are not up to current code could lead to outages, fires and more, and they can be expensive to update.
• Plumbing concerns. Turn on a sink or a shower during a viewing to check water pressure. Low pressure could be a sign of a bigger plumbing problem. Check for tile damage in showers and inspect toilets for signs of leaks.

If you encounter any of these defects, do your research about what repairs would entail and how much they would cost. If you do decide to place an offer on a home with potential problems, talk to your real estate agent about how to factor those issues into your offer.

If you are buying or selling a home in Steamboat Springs, we would love to put our nearly 30 years of experience to work for you. Contact us using the form below.

Make Steamboat Springs your Colorado home

For those of you who have visited our beautiful state, or spent any length of time here, you probably know why so many people choose to live here. People from other states and countries are drawn here by our amazing vistas and outdoor lifestyle, and even locals who have moved away are often called back home. Colorado is, quite simply, special.

Here are our top 5 reasons to live in Colorado, in no particular order:

• The mountains. If you have ever flown over Colorado’s mountains, you understand the sheer majesty of the snow-capped peaks that seem to spring up suddenly from the plains and go on for miles. Those beautiful mountains are home to incredible wildlife and almost endless opportunities for recreation and adventure.
• Sunshine. Thanks to our incredible ski resorts, including Steamboat Springs, people think snow when they think Colorado. Yes, while we get plenty of the welcome white stuff, we also have more days of sunshine than many other states. Our unique geographic location makes our climate pretty mild with low humidity.
• Great beer. Colorado is home to hundreds of craft breweries where you can find just the right beer for your tastes. Colorado ranks third in the nation for the number of craft breweries.
• Music. From world-renowned Red Rocks to our local mountain stages, Colorado attracts some of the best music acts around. We are also home to several incredible music festivals that cater to music lovers in a variety of genres.  
• Wellness. Colorado’s natural playground encourages people to get outside and move, and many residents here focus on fitness, wellness – and have fun doing it. Colorado’s combination of outdoor activities, good food and fresh air are great for both your physical and mental health.

Steamboat Springs in particular offers a unique Colorado experience that combines the beauty of the mountains and rivers with a rich western tradition. We invite you to visit Steamboat or contact us to learn more about our stunning mountain town that is just a three-hour drive from Denver.

To learn more about the homes available in Steamboat Springs to suit all budgets and lifestyles, contact us using the form below. We will put our nearly 30 years of experience to work for you.

The right contractor makes a big difference in your project

Whether you are remodeling in preparation to sell your property or planning to remodel a newly purchased home, finding the right contractor is key to the success of your project.

Here are some tips for finding and hiring a contractor:

• Comparison shop. Ask for estimates from three-five contractors.
• Ask for referrals. Ask your family and friends for referrals. The recommendation of someone you trust is a great place to start.
• Request references. Ask each prospective contractor for two or three customer references.
• Look for reviews. Check online for reviews and check the contractor’s Better Business Bureau rating.
• Verify licenses. Ensure that your contractor is licensed and obtains the correct permits for your project. The contractor should also handle necessary city and county inspections along the way.
• Negotiate terms. Most contractors ask for a down payment, but negotiate a fair payment schedule that is tied to phases of completion on the project.
• Review the contract. The contract should specify the scope of the project, the timeline for the project and the estimated costs. It should also specify what recourse you have if the contractor does not meet those specs. The contractor should be responsible for any damage and clean-up.
• Be involved. During the course of your project, ask questions and be involved in decisions. The best way to ensure a successful remodel is by taking a hands-on approach.

To learn more about finding and creating your dream home in Steamboat Springs, contact us. We will put our nearly 30 years of experience to work for you.