There are potential buyers of Steamboat real estate out there wondering when they should buy. They want a place in Steamboat Springs but have nagging doubts: Are we near the bottom? What’s going to happen to the economy?
If you have money you are looking to invest and would rather steer clear of the stock market and pathetically low interest rates offered by the banks, here are a few reasons you can use to help talk yourself into buying a place in Steamboat Springs:
1. Pride of Ownership–How many times have you walked into a rental and been disappointed? The pictures on the internet sure didn’t look like the dumpy place with the 70’s décor you’re now staying in. Owning your own place gives you the freedom to decorate exactly how your family needs. You can have the right number of bedrooms and baths in the right configuration. Plus, you can keep your skis, ski clothes, mountain bike and other gear in the owners closet and not have to check your bags (at $25 a pop) and shlep them through the airport.
2. You Love Coming to Steamboat–If you come to Steamboat once or twice a year, having a place here will give you an excuse a reason to come more often. There is a definite pattern to people who love coming to Steamboat: First they come for ski vacations. Then they come for a summer vacations (and wonder why they haven’t been to Steamboat in the summer before. Then their wives (no sexism here, just a trend) come for the summer and they come up to visit. Finally, they retire here and become active in the community with all the other like-minded people from around the globe.
3. It’s a Buyers Market–You actually have a choice now where you want to own. During the real estate feeding frenzy, buyers took what came up for sale-often without even seeing it. This year you can take your time and find the right place at the right price that works best for you and your family and friends. Often, there are several similar units to choose from, some of which are Steamboat Springs foreclosures.
4. You can’t time the real estate market– Steamboat real estate has historically been a great investment. (Not so great lately, but before this downturn, the old times say most years real estate appreciated.) If you buy today, there is a 50% chance the price will go up and a 50% chance the price will go down. But if you look at long-term Steamboat real estate trends, there’s a 99% chance your home value will increase.
5. Family Security-If you own Steamboat real estate, you’ll have a place for your family and friends to gather. What better opportunity to bond with your loved ones than skiing, hiking, and exploring our mountains? You can create memories and experiences in Steamboat you won’t get back home in Texas, Florida, or Chicago.
In a year or two, you’ll forget whether or not you bought at the bottom or not. You’ll remember the important things-the laughter and camaraderie with family and friends, the eyeball-deep powder you skied through, the après ski glass of wine in the hot tub or in front of the fire, and the fact that you own real estate in Steamboat.