Mountain Vacation Properties
It’s a challenge to scan the newspapers or turn on the television today without stumbling upon bad news in the residential real estate market. The latest Case-Shiller housing price index, after all, reported that home values across the nation had suffered their biggest drop in 17 months.
That’s bad news. But there’s one thing that’s neglected in all these gloomy reports: Real estate remains a local business. This means that while home values may be falling in one market, they might be holding their own in another.
And one segment of the residential real estate industry that is holding its own? Mountain vacation homes.
It’s true that the value of most mountain vacation homes has dropped since the residential real estate crisis started in 2007. But many of these homes have held their value far better than have most traditional residences.
There are many reasons for this. Most importantly, mountain vacation homes remain desirable properties. Residents from across the United States still enjoy spending their vacations among the country’s most scenic mountain ranges. Location continues to be a key in the real estate business. Simply put, residences in desirable locations tend to hold onto their values. And few locations are more desirable than are those that offer stunning mountain views.
Mountain vacation homes also appeal to a segment of the U.S. population that is not as impacted by the ups and downs of the national economy. The buyers purchasing these homes are doing so because they want to, not because they need to. This means that they have enough disposable income so that they don’t have to worry every time the unemployment rate rises or the stock market takes a tumble. They buy when they want to, regardless of how the economy is performing.
Finally, the buyers of these homes often don’t worry as much about their values. Sure, they want to see their vacation home investment pay off. But they don’t panic if the value of their second home drops during an especially bad time in the economy. That’s because they’ve purchased their mountain vacation homes to enjoy them, not to treat them as a personal piggy bank. Most vacation home buyers envision spending many years taking their children and spouses to secluded hideaways. They picture holiday weekends spent among mountain peaks and scenic rivers. There’s an intrinsic value to owning a vacation home in a mountain setting that can’t be calculated.
If you’re considering purchasing your own mountain vacation home, keep these facts in mind. Buying a vacation home requires a different thought process than does purchasing a primary residence. You certainly don’t want to make a bad investment. But remember what mountain vacation homes are for: You want a place in which you can take regular vacations with your family members, a residence in which you will build a multitude of memories.
Mountain vacation homes remain a good investment for this very reason: They can create for you memories that will last a lifetime.
If you want to purchase your own mountain getaway, be sure to contact us at www.eaglevalleyrealty.org today!
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