Vietnamese
Spanish
Cambodia Icon
HMong
(303) 649-1245
APPLY NOW
UPLOAD DOCS
logologo
  • Purchase
    • Making Sure You Are Pre-Qualified
    • First Time Home Buyer
    • Homes For Veterans
    • Investment Property
  • Refinance
    • Lower Your Payment
    • Consolidate Your Debt
    • Pay Off Your Mortgage Faster
  • Loan Options
    • VA Loans
    • FHA Loans
    • Conventional Loans
    • 15-Year Fixed Rate
    • 30-Year Fixed Rates
    • Investor Loan
    • Reverse Mortgage
  • Apply Online
    • Pre-Qualification Form
    • Free Personalized Rate Quote
    • Mortgage Calculator
  • Houz Mortgage Locations
    • Aurora
    • Boulder
    • Breckenridge
    • Colorado Springs
    • Denver
    • Durango
    • Fort Collins
    • Glenwood Springs
    • Grand Junction
    • Greeley
    • Loveland
    • Longmont
    • Pueblo
    • Silverthorne
    • Steamboat Springs
    • Vail
  • News
    • Weekly Rate Update
    • Why You Need To Use A Mortgage Broker In Your Home Search
    • Finding the Best Mortgage Rates for You
    • What Is a Mortgage Calculator and How You Can Benefit From It
    • Real estate wire fraud is alive and well. what can you do to prevent it?
    • Settlement Reached On 2017 EQUIFAX BREACH. Don’t Snooze If You Were Affected By It
    • Strong Job Growth In June Pushing Rates Higher
    • Giant Tech Companies To Build Housing To Attract Highly-Skilled Workers
    • Home Builders See Labor Shortage As Their Biggest Concern For 2019
    • Crooks are out yo get your IRS refund
    • Avoiding a Nightmare Contractor
    • Savvy Flippers Know the Score
    • Myths About Realtors That Need To Go Away
    • Voice Activated Personal Assistants are Fun and a Little Scary
    • Selling Your Home on Your Own? It’s No Walk in The Park
    • When Reality Really Means Fantasy in Real Estate TV Shows
    • A Semi-Myth: Rising Tides In Real Estate Values
    • Does Remodeling Make Economic Sense?
    • Government programs helping to rebuild after natural disasters
  • About Us
    • Testimonials
    • Review Us
    • Submit Feedback
    • Licensing
    • Privacy Policy
  • Contact Us

Ski Condo or Mountain House?

There’s not much difference between a ski home and a normal vacation escape except for the mountain location.  Ski properties are near or on mountains, such as Vail, Aspen, or Breckenridge, and normally have resorts. The decision between buying a ski condo or mountain house is where things become a little more complicated.

With ski homes, just like typical houses, you oversee all the upkeep yourself. This includes what is beyond the house’s four walls including snow removal, lawn work, grounds maintenance, and trash removal. With the harsh Winter months, maintaining a mountain home can be challenging by yourself, especially if you are not in town most of the time.

Ski condominiums are a part of HOA (Home Owner’s Association).  Property owners are charged association fees, which cover maintenance.  The owners don’t need to cut grass, paint the outside, or worry about snow plowing or shoveling.  Association dues typically run in the hundreds of dollars.  The amount is pegged to the home’s size, and other times of the condos will be the same.  Condos often come with amenities, like a tennis court, clubhouse, or a pool.

 

Buying for yourself or investment purposes?

It’s also important to work out how many times per year you’re going to use your ski home.  Are you planning to spend time or are just visiting to go skiing?  If you are only interested in having a place to rest when you are skiing, most people will get a condominium.  Given how little time you will be spending during the off-season at your escape, it could be better to live where outside maintenance is minimal.  But if you dream of having a spread in which you encounter a small-town existence, a house with some acreage might be a better match.  If you wish to spend some time during the Spring or the Summer, you should find a home so that you can enjoy the scenery with a few trees and forests and views, and you won’t feel as if there is someone directly beside you.

If you intend to post your mountain home on websites like AirBnB, you can generate some income, and in that case the nearer to the mountain the better.

One potentially major consideration is the distance to the ski lifts.  It will almost certainly guarantee tenants if you have a property nearest the ski slopes.  Ski-in, ski-out means exactly that, it is simple to get to one of the paths or the lifts.  It is considered the difference in terms of how much you can rent your location for in many cases.  On a hill, there are just so many ski-in/ski-out lots, so they do come at a premium. You are likely to receive more money when it comes time to sell when you’ve got a place right on the mountain as well.

If ski-in, ski-out is not a choice, consider properties that sit on shuttle lines or operate shuttles straight from the property.

 

Mortgage or Cash?

If you are purchasing a timeshare, you are not likely to find a mortgage; banks do not lend on them these days.

But if you are purchasing a mountain-side condo or detached home, mortgage lenders continue to be an option.  Whether it is a ski house or a summer house, it doesn’t matter, it is still considered a second home.

As is true with a primary residence, debt-to-income ratio is of extreme importance in qualifying for mortgage financing.  Your existing mortgage payment is going to be a part of your debt-to-income ratio calculation in addition to the mortgage payment for your new vacation home.

Houz Mortgage has a specialized team ready to help with your ski home financing so call (303) 649-1245 or apply now to get started.

Recent Posts

  • Permanent remote work is making many Americans rethink where they live
  • How to keep your videos conferences private
  • Design trends are all about making home interiors (and exteriors) new again
  • Look deep before you leap into neighborhoods with bargain home prices
  • Descriptive words in a property listing can have you rolling your eyes

Categories

  • Buying a Home
  • Credit
  • Home Improvement
  • Insurance
  • Mortgage Basics
  • Mortgage News
  • News
  • Selling a Home
  • Uncategorized

Contact Information

PHONE: (303) 649-1245

FAX: (888) 752-8254

ADDRESS: 10700 E Geddes Ave, Suite 155 Englewood, CO 80112

Facebook
Google+
LinkedIn
Best Mortgage Brokers in Denver

Terms and Conditions Apply. HOUZ MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet Houz Mortgage’s and/or investor underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Licensed by the Colorado Division of Real Estate. Houz Mortgage loans are originated by Colorado Homesmartz, LLC DBA Houz Mortgage, NMLS # 1578407. (www.nmlsconsumeraccess.org)

Lowest rates are reserved for most creditworthy applicants; not all who apply will qualify for the top tiers. Rates and APRs are subject to change and may not be available at the time of lock or loan commitment. Interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires. APR for adjustable rate mortgages are subject to increase after fixed rate period and does not include 3rd party costs or prepaid interest. Please contact one of our Licensed Mortgage Loan Originators at (303) 649-1245 for a customized rate and payment quote.


© 2020 houzmortgage.com

Upload Docs

Mortgage Form

Property Type

Single Family

Multi Family

Town House

Condo

Next

Bankruptcy / Foreclosure in the past 3 years?

Back    Next

Zip Code

Back     Next

Rate Your Credit

(Most people have GOOD credit)

Excellent

Good

Average

Fair

Poor

Back    Next

Upload Docs

Application

  • Fast Application
  • Full Application

Fast Application

HOUZ makes

HOME possible!

What do you want to do today?

Refinance

Purchase New Home

Property Type

Single Family

Multi Family

Town House

Condo

Back    Next

Bankruptcy / Foreclosure in the past 3 years?

Back    Next

Zip Code

Back     Next

Rate Your Credit

(Most people have GOOD credit)

Excellent

Good

Average

Fair

Poor

Back    Next

COVID-19 Update

March 12: Today, we closed Houz's Englewood office and asked everyone based there to work from home as a precaution due to COVID-19. Houz was prepared for this and is fully functioning during this time. Please do not bring any paperwork to the office and make alternative arrangements by calling (303) 649-1245 or by contacting your personal loan team until further notice.