Editor’s note: This week sees the debut of “Ask a Broker,” a bi-monthly real estate column that will run in rotation with Lori and William Small’s columns.
Question: We take a ski vacation every year, usually staying in hotels or an Airbnb. As our family grows, we’re ready to put down roots in one area, and we’re considering buying a fractional residence in Aspen-Snowmass. Is now a good time? And, is a fractional home a good idea with a growing family?
Greg Wexler: Yes and yes.
This ski season looks different than in years past, but that hasn’t slowed real estate sales or fractional residences in Aspen or Snowmass. It’s actually increased demand with the overall market up over 100% from last year. Residence club ownership can be a great fit for buyers who want the assurance of a luxury residence with all the amenities and ski-in/ski-out convenience, but don’t relish the cost or maintenance of a second home. We also have a lot of interest from buyers who plan to purchase a new ski home in the area but are still a few years out.
Fractional ownership opportunities in this area are quite different than many other destinations. A greater emphasis is placed on our owners actually using their residence here in Snowmass. Approximately 80% of the people who buy in Aspen/Snowmass consistently return year after year, making this a great location to own.
Purchase options
Purchasing within a residence club can be a good introduction to the valley. It’s a more reasonably priced way to test out the area and see if the entire family enjoys it. A common trend is for club owners to eventually move on to whole ownership when the time is right. And some of them even keep their club residence for friends and family use.
Typically, traditional residence clubs offer floating reservations whereby you can request specific dates each year and based on your rotating priority with the other owners, you receive a good selection of dates for your visits.
There is the opportunity to guarantee specific winter dates at One Snowmass Residence Club, so favorite ski times may be planned. Other flexible reservations are also available for the rest of the year. It depends on flexibility of one’s schedule and what works best individually. Also, offered are online reservations in real time for instant planning.
A family-friendly resort
Aspen-Snowmass is a great resort area for families, boasting a wide range of amenities and activities throughout the area and in all seasons of the year. With four world-class mountains, there’s perfect terrain for all levels on the mountain. The winters here are absolutely wonderful. But, as we like to say, people come here for the winters; they stay for the summers. During the warmer months in Aspen and Snowmass, there are plenty of outdoor activities the whole family can enjoy, such as horseback riding, mountain biking, fly fishing and hiking. And the area also has unparalleled options for dining, shopping, arts and events.
A fractional residence can be an ideal option for a growing family because it’s worry- and hassle-free. Once you find the place you love, you’re set. No need to waste time on reviewing sites, sorting through the pros and cons of a certain hotel or rental property. You know what to expect each time you visit. It’s cleaned before your arrival and after you leave. Plus, your residence is already furnished, so you don’t have to go through the decorating process necessary if you buy a single-family home. Private transportation, full-service concierge, housekeeping and all maintenance and refurbishing are all included.
Multigenerational
One additional benefit can also be multiple ownership interest within the larger family, arranging both entire family and other individual use. This may feel like a safer option than a hotel or an Airbnb. Having more control over one’s own space during vacation is a new pandemic-inspired priority.
As you’re weighing the decision on whether to purchase a fractional ownership, we hope you’ll consider the above benefits. This type of ownership isn’t for everyone, but we think it’s a great option for those that want to own a luxury residence but can’t justify a traditional single-family home purchase.
Greg Traxler has more than 22 years of experience within the luxury resort industry with a focus on all aspects of project design, development, marketing and sales. One Snowmass Residence Club with Slifer Smith and Frampton has an innovative club structure.
Visit OneSnowmassResidenceClub.com or email Greg@SliferRFV.com for more information.
Credit: Source link
