Vail Daily column: How does skiing affect market value?
Ask a Realtor
My question to you is about the value of skiing to real estate in this valley. I don’t ski, by choice, and my husband says he loves to ski. But, frankly, when we come to the valley in the winter, he finds more excuses not to ski then there are days to ski. He actually seldom goes on the mountain in the winter, and when he does he goes late and quits early. We both love to hike and ride bicycles in the summer, and we love the social and cultural events, not to mention the dining opportunities year-round. Now, after years of renting, we are ready to buy and feel we will be retiring here in the not too distant future. He thinks we need to spend the extra money to buy a home with skiing access because he “loves to ski” plus he says that if we buy something that is not associated directly with skiing, we will spend less, but we will have a hard time selling if we decide to in the future. Can you weigh in on this?
All properties will sell at market value. Market value varies with the location, construction and what the market is doing at the time of sale. If you buy with ski access, then you should pay more, and sell for more. If you buy without ski access, then you probably will get more home for your money, and it should sell accordingly when you are ready to sell. There are a couple of other points you two might want to consider. First, you don’t have to ski to enjoy watching your friends, family and others ski. Just as you don’t have to golf to enjoy living on a golf course, enjoy the scenery and watching others golf. Plus, homes with ski access usually are close to the hub of stores, restaurants and activities. This makes for a pleasurable time to be able to walk to many of your daily and evening events. You definitely don’t have to ski to greatly enjoy living in Vail Village, Beaver Creek or Arrowhead.
Secondly, if you choose to not be located on the ski hill, you are not alone. Many families are enjoying alternative winter activities (cross-country, snowshoe, snowmobile, snow biking, etc.) plus numerous summer activities (golfing, fishing, biking, hiking, gardening, etc.) more than skiing these days. Golf has become an important reason for many buyers here from climates with hot summers. The whole world in general is exposed to and enjoying new winter and summer sports all of the time. Any “good” location should hold its market value now and in the future. My suggestion is to find a great Realtor who can show you what your choices are. I am sure you will know when you see the right one. Welcome to the valley — you are going to love it all year long!
Joan Harned is an owner/broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years, is a past chairman of the Vail Board of Realtors, past Realtor of the Year, past director on the Great Outdoors Colorado Board and a member of the Luxury and Land Institutes. Contact Harned with your real estate questions at Joan@TeamBlackBear.com, 970-337-7777 or http://www.SkiAndTeeHomes.com.