Breckenridge Property
 

Since the time General Spencer pitched his tent near the river, Breckenridge has been the heart of activity in the Summit County The area saw quick growth during the gold hunting days when the population rose to around 10,000. After the 1940's economic bust that came about with the end of the mining activity, the population decreased to about 1,000 people and remained around that mark until the 1960's. With the start of alpine skiing in 1960's another economic boom hit the town, which has proved to be a very sustainable one. Now Breckenridge has a population of around 3,000 people. The economy got another shot in the arm during the 1990's with new developments in Breckenridge, Keystone and Copper Mountain.

As a whole, Summit County attracts almost 3.4 million skiers every year, out of which Breckenridge gets almost 1.4 million. Summit County spans over 600 square miles and almost 75% of the land is reserved as national forests, which makes the rest of the land very valuable.

When you consider the property in Breckenridge you need to keep in mind that this is basically a tourist resort area where, almost throughout the year, visitors outnumber the locals and only about 30 percent of the real estate units are occupied by the owners of the houses. The other 70 percent consists of tourist lodging, second homes, rental properties or vacant homes.

With the tourist interest so high in the area more than 50 percent of the stock consists of condos which are primarily bought as a second home, investment, or rental property. Because of the huge inflow of visitors each year, the prices of housing stock have seen an amazing rise in the past 20 years. From a very modest average price of $26,000 in 1970 it has risen to more than $360,000 in 2005. Despite a weakening national market, experts predict that Breckenridge will be able to sustain its strong growth, around 8-10 percent a year.

One thing that you should keep in mind while planning to buy property in a location like Breckenridge is the purpose that you want the property to fulfill, and your interests as well. Whether it is a dream home or an investment property that you intend to rent out, it is important to decide where you want the property to be. If skiing is a passion and priority then a place near the ski area or a ski-in/ski-out location would be suitable probably for both self occupancy as well as renting out during the season, though there should be no doubt in your mind that it will make the price tag a bit higher as well.

Properties that are a bit farther from the main skiing areas will also be a little more affordable and will have a more central location with respect to the town. Proximity to lakes, rivers and parks would be an added plus. Apart from location and closeness to different amenities, the style of the dwelling is also very important and needs to be decided before you venture out in the market. A family house, a condo, a townhouse or a secluded lodge; your needs and preferences should decide this beforehand. Also try keeping your financial limits in mind as well. You don't want the piece of heaven on earth to turn your financial world into a hell. If some rental income is a part of your plan, then make sure that the dwelling you are thinking about has a good history in this respect as well.

The relation between the condition, location and the price is important. It is always nice, even if you are planning to get the help of a property agent, to research the market on your own as well. Again, if the house will serve the purpose of a holiday house, then look at it through the eyes of a person who will stay in it for his holidays. If you like it for yourself, then it probably is worth the money.

Buying anything in ski resorts and vacation destinations can be bit of a blow to the pocketbook during the peak season. This trend can follow into the real estate market as well. When everything is in demand and selling at a higher than average price, making such a big investment might not be a good idea. Wait until the end of the main season and then venture out to see if you can find a bargain. Make sure to look beyond the cosmetics of a property. Look for all the problems that can arise later, like mechanical and structural damages that could cost you a lot of money.

One thing that you can be reasonably sure about is that Breckenridge can provide you with what you are looking for in terms of a good abode with an abundance of natural beauty and white gold.