SECOND HOMES
Second Homes continued from page 36
ety of outdoor and cultural activities for every Fractional ownership opportunities can
ownership not offered by most other invest- age, from wine and orchestra to Gatorade begin as low as $80,000 for a slice of a high-
ments. A second home can provide a host and the Colorado Trail. It is one of only a end property. Fractionals present the newest
of federal tax deductions including mortgage handful of real ski towns in Colorado. Breck- emerging trend in the resort industry. They
interest, real estate taxes, management and enridge is a place where people actually walk may be anything from a one-twelfth owner-
homeowner fees and utilities that partially down the street carrying skis or boards on ship (4 weeks of usage) to a one-quarter
offset the costs of ownership. their shoulders during the season... it is a ownership (13 weeks of usage). The idea to
Renting your second home is often a town that allows residents to make time for own at the very same locations and have the
good source of income and can enable your what they truly love. same lifestyle at a fraction of the cost is com-
property to be treated as an investment with Breckenridge has come a long way since pelling and works for more and more savvy
the IRS. Moreover, such real estate invest- its founding 150 years ago. Under the own- second home buyers every year.
ments offer the unique opportunity to defer ership of Vail Resorts, the Breckenridge Breckenridge remains a bargain in the
capital gains from increased values by the Ski Resort has become a centerpiece for company of the other major mountain
mechanism of the Section 1031 Tax-Deferred Vail’s development of the mountain’s base resorts. And you get a real town with a
Exchange. It can amount to virtually an inter- areas and gondola base in town. strong cultural heritage with real people
est-free loan from Uncle Sam and is certainly The phased creation of almost 450 ski-in/ who actually live there because they love it
the most powerful wealth and estate building ski-out properties happening at the base of passionately and it shows. Buying a second
tool available to the U.S. taxpayer. Peaks 7 and 8 and at the gondola base pres- home in Breckenridge is stepping into a
ent the chance for buyers to hook up with a community that welcomes participation and
Build Out Looms real “hot spot” in the market. Ultra-deluxe is keen to create a quality year-round vaca-
The increasing demand for quality resort and just yards from the chairlifts and gondola tion place for everyone.
settings from the boomer generation is being terminals, these new properties have raised
met with a decreasing supply of the desir- the bar for luxury in Breckenridge. The Five Rs
able locations. The Breckenridge area is Reconnect. Rejuvenate. Return. Redis-
clearly approaching build out and available Best Major League Value cover. Retire. This is the “RE” in resort real
land for development is at a premium and And yet Breckenridge is inexpensive by com- estate and they combine to equal Many
dwindling fast. Despite the appearance of parison to its counterparts in the major league Happy Returns. For not all returns are
miles of forested hillsides, only 20 percent of mountain resorts in Colorado and throughout measured in dollars, are they? Who can
of the land in Summit County is private the west. Rivals Steamboat, Telluride, Vail and say the value of getting up close and per-
property. The rest is Forest Service and other Beaver Creek, as well as Utah’s Park City far sonal with the majesty and grandeur of the
government-regulated lands. Combined with outstrip the cost of ownership in Breckenridge. Rocky Mountains, of those first few turns
the anticipated doubling of the metropolitan The good news is that real estate in Breck- through glistening untracked powder on a
Denver population over the next decade, the enridge covers the whole spectrum in price blue sky day, or helping a grandson catch
result will be significant upwards pressure on and character, from funky little ski cabins in his first trout? For most second home
prices and values. the woods to slope side masterpieces and owners who are building a legacy of family
everything in between. Single family homes memories in Breckenridge, the return on
Why Breckenridge? start at about $400,000 and go up from there. investment is priceless.
First and foremost, Breckenridge is a Two bedroom condominiums can range from Rob Neyland is a co-owner of Breckenridge
vibrant and engaging town. As the most as low as $220,000 to $2 million. A three or Associates Real Estate and has been helping
popular ski resort in America, Breckenridge is four bedroom townhome will cost between people with resort real estate in Breckenridge for
high country at its best. This plucky Victorian $500,000 and $2.2 million. And yes, there almost 30 years. He first came to Breckenridge
gold camp-turned-world class destination is still land available, beginning at about as a child and helped build the family ski cabin
resort provides an endless, year-round vari- $120,000 for a home site. in 1966.
38 BRECKENRIDGE | gobreck.com | 877-234-3989
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