Tips for Finding the Perfect Vacation Rental Investment Property in or Near Estes Park
Roughly 3 million visitors flock to Rocky Mountain National Park each year. Estes Park is the sought after lodging destination for these travelers. This makes it an idea location for a vacation rental investment property. Private home rentals are becoming more and more popular with couples and families who find the comfort and privacy a home offers worth a premium. It allows the vacationer to experience “life like a local,” often complete with inside tips on dining and recreation that the owner or previous renters have offered. The good memories bring visitors back year after year, often to the same rental property.
A vacation property is a major investment. It makes sense to thoroughly research your options. Here are some considerations when selecting the right vacation rental property near Rocky Mountain National Park.
Location. Location. Location.
The cliché of real estate holds true for vacation properties too, perhaps even more so. Homes and cabins in desirable locations will rent more quickly and for more money. Proximity to Rocky Mountain National Park is important, as is quick access to town. Properties that offer the ideal mountain experience: mountain views or along the riverside, will offer higher rent. Be sure to take the drive in person.
Has the property been a vacation rental in the past? If so, find out the rental history…how much and what percentage of the year was the home rented? If not, make sure the local ordinances allow for the property to be rented. Then inquire on similar properties in the neighborhood as to their rental success.
Size…bigger is not always better
Vacationers want to be able to spread out and larger homes offer a higher rent, however, be careful not to buy too large. Homes priced too high will generate fewer inquiries. Three to four bedrooms are the most requested size, after that one to two bedrooms are ideal for couples and small families.
Potential and Maintenance
Is the home tastefully designed? Renters desire properties that provide a mountain get-a-way experience with the conveniences of home…tasteful furnishings, quality linens, towels and appliances. Some properties require more work than others to get them up to date. Factor in the cost to improve the property into rental condition. Just as important, you’ll want to factor in any ongoing maintenance.
Let me help you get started in searching for the ideal mountain vacation property. I have the inside knowledge to help you identify which homes are in ideal locations for vacationers so you can narrow your search and achieve your investment property goals.
Your real estate expert in the Larimer and Boulder County communities of: Estes Park, Allenspark, Glen Haven, Drake, (removed Lyons) Pinewood Springs and Big Elk Meadows, Colorado.
Heidi is an Estes Park real estate agent with REMAX Mountain Brokers, the leading real estate company in the Estes Park area. Heidi is also a REALTOR® It means I am a member of the National Association of Realtors and subscribe to a higher level of ethics.