A home inspection is always recommended when you are purchasing a mountain home or property, whether it’s brand new construction, an older home, or if you’re buying in "as is" condition.
A home inspection is an impartial third-party evaluation of the physical structure and major systems in the home. This includes electrical, plumbing, heating, roofing, interior and exterior features. It’s essentially a snapshot of the home at that moment in time. If you’re buying an existing property, a good inspector should be able to tell you the age of the home along with any additions that have been made. He’ll also be able to tell you what aspects of the home might need replacing in the next few years, such as the roof, appliances, or other mechanical systems.
Be sure that your inspection company is licensed in the State of Colorado and carries insurance. Look for an inspector who is certified through a home inspection association like NACHI, NAHI or ASHI. Be sure that the inspector who performs your inspection is trained in the home inspection field, not just a contractor. Home Inspectors who have been trained have a systematic way of going through the entire property. Make sure the inspector understands the unique stresses real estate in the mountains face due to high altitudes and long winters.
Although it’s not necessary, we highly encourage our clients to be present for the inspection. This will give you a greater understanding of your new home, and the report that you will be given in the days following will make much more sense. If you are an out of town client and cannot attend, your Rounds and Porter agent will be more than happy to facilitate and attend the inspection of your future Breckenridge real estate on your behalf.
Placing your Summit County home or Breckenridge condominium in a vacation rental program is a personal decision that many property owners find advantageous. If you occupy your home part-time, or if you’ve purchased investment property, you can choose a professional property management firm to coordinate rentals and market your property. Or you can opt to manage a rental program yourself. Whichever method you choose, your Coldwell Banker Rounds & Porter agent can help you with recommendations. Your agent is familiar with many Breckenridge and Summit County property managment companies.
A professional property management company can visit your home regularly to ensure things are in proper working order, check for potential problems such as frozen water pipes, and get your home ready for the next visitors. They can even fill your cupboards with groceries, set your thermostat to a comfortable temperature before guests arrive, and stack wood in your fireplace. You can expect to pay anywhere from 35% to 50% in gross rental commissions, which include customized services suited to your needs. Additional costs might include administrative fees, supplies such as paper products, and credit card processing fees.
If you decide to manage your property on your own, websites such as www.vrbo.com and www.cyberrentals.com are two popular marketing avenues. You’ll want to hire a professional cleaning service to clean your home, do laundry, and replace linens before and after every rental.
Summit County has seen a continued growth in tourist numbers not only during ski season, but also during the summertime months from June through September. You can ask your property management company for projected rentals and historical figures to get an idea of how much rental income you might expect.
If visitors have a great experience staying in your home, you’ll find many of them will be repeat customers year after year – and they’ll recommend your property to their friends! Your Breckenridge real estate can become a source of significant income.