3 Tips For Buying A Second Home In The Mountains

Buying a home in the mountains is both a financial investment and an investment in your family. Your second home will become the setting for family ski trips, relaxing summer visits, and creating many memories over the years. Your mountain home can also be a wise financial step, helping to build your wealth in the long-term as the home grows in value and possibly providing you with rental income in the meantime. Here are a few tips to guide you in your search for mountain homes for sale.

1. Decide if You Plan to Rent it Out

Often, second homes in the mountains serve as the family vacation home while also becoming a source of income as a vacation rental when you're not using it. Sit down with your family and determine if this is what you want to do. In most cases, this will mean hiring a property manager who lives near your mountain home to make sure the home is clean, repairs are made promptly, and that guests have assistance when needed.

Some communities have strict rules about vacation rentals, so it's a good idea to let your real estate agent know from the beginning this is something you're interested in. They can help narrow down your search to homes that will be easy to rent out.

2. Consider Buying in an HOA Community

Even if you are the independent type who would never opt for an HOA in your primary residence, having a governing housing association often makes sense with a second home in the mountains. Since you won't always be there, it is reassuring you have a local organization keep an eye on things. They will have rules in place to promote security when homes are unoccupied, and will also take care of tasks like shoveling snow, so you don't have to pay a local company.

3. Your Exterior Inspection Should be Thorough

Once you narrow down your search and make an offer on a mountain home, it's time for an inspection. In the mountains, your exterior inspection should be especially thorough. You need to have a clear idea of what to expect when it comes to snow run-off and even potential rockslides. You will also want to have adequate fencing to discourage wildlife from getting too close to your home.

Working with an experienced real estate agent with in-depth knowledge of the mountain community you are interested in and following these tips will ensure you get the second home you want while avoiding potential mistakes.