Livin’ The Dream: Just one more great reason to buy … shared ownership
Special to the Daily
Rising costs of resort real estate is creating a real market for sharing a home or investment property with other second homeowners. If you are in the market for a second home and are experiencing a lack of desirable inventory in your price range, why not consider getting more information on how “Shared Ownership” might work for you? Summit County is one of the most desirable resort areas in the country and with high demand comes high prices. Yet the majority of the second home owners in our area only use their property for long vacations or weekend getaways.
If the idea of owning your second home in Summit County accomplishes that long awaited dream, you can have it now by considering this type of purchase. While sharing the home with other owners, everyone has the same commitment in maintaining the integrity and quality of the property. All of the ongoing expenses are also shared which makes this type of ownership very affordable.
The owners of this type of property have stated that it is the only way to own a second home when you will only be using it a fraction of the year. When you are not using it, knowing that another owner is taking care of it and that it is not sitting empty gives a true sense of security. Most of the properties do have a general manager that handles all of the day to day needs of the home so the owners can just show up, enjoy the property and know that everything will be taken care of when they leave.
There are currently 84 different properties throughout the county offering this type of ownership. From a one-bedroom ski in/out condo at the base of Copper Mountain starting at $90,000 for a 1/4 share, to luxury single-family home on the river in Breckenridge priced at $375,000 per 1/4 share, the choices are vast and can meet any lifestyle. Some of the owners are offering seller financing at very attractive rates and terms which eliminates the costs attributed to financing the traditional way.
One property that is truly worth seeing is the exquisite townhome at The Enclave at Keystone Mountain. This townhome is truly a luxury residence with lovely finishes and an amazing remodel. It has undergone a complete transformation inside and out. Every surface of this property has been smartly redesigned to reflect the state of the art finishes found in an elegant Colorado mountain home. The easy access to all the shops, dining, and outdoor activities of Keystone Resort make this the perfect second home choice. The large clubhouse includes a beautiful pool area, hot tub, racquetball and tennis courts. This residence is being offered as 1/4 share for $289,000; 1/2 share at $575,000. Fully equipped with elegant furniture and furnishings provides additional value to this home. And remember, you pay a fraction of the price and only have a fraction of the costs to maintain the property. This concept really works!
Kouri Wolf has been ‘livin’ the dream’ of Summit County for over 30 years. Starting her real estate career for Keystone Resort Development in the late 1970s, she has never lost the love for the beauty and lifestyle of the area. Kouri can be reached at (970) 333 0303 or email@example.com for questions regarding Summit County real estate.
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