Breckenridge is filling up fast. Friendly people, great shopping, and unbelievable skiing make it the place to be – but why should you think about purchasing a home there? Isn’t it a tourist area? Not exactly; it’s becoming one of the Rockies’ most sought-after gems.
If you’re considering making an investment in one of the country’s most up-and-coming hotspots, the charming Breckenridge area deserves your full attention. With new businesses and homes cropping up in this jewel of the Rockies, it’s no longer a winter “vacation destination.” As it grows, it’s becoming a fully-appointed year-round real estate option – which means that it’s worth a second look.
Breckenridge, once a sleepy mining town in the old “Wild West,” is now the year-round home to a little over three thousand people. That figure has increased by a staggering number – one thousand in the last five years – and for good reason. In addition to a plethora of employment opportunities that range from resort staff to architectural design, the property values have been steadily climbing. During ski season, the population increases to over 35,000; many people choose Breckenridge for their “home away from home.”
The per capita income of the town is steadily increasing, as well – while the property values go up, more and more people with substantial incomes are being attracted to the serene beauty of unspoiled forests and mountainous landscapes. Seven short years ago, the average yearly income (per capita) in Breckenridge was just a little over $29,000; by 2005, that number had spiked to nearly $39,000! According to Colorado Senator Wayne Allard, Breckenridge also attracts people with high-tech jobs, who make an average salary of nearly $70,000 per year.
The walls around Breckenridge are closing in, though – it’s estimated that there won’t be any more land left to buy by the year 2016. Since much of the town is surrounded by government-protected forests and privately owned parcels, land is being grabbed up by enterprising investors at breakneck speed. Homeowners in Breckenridge have been enjoying watching the property values skyrocket, and savvy purchasers have been enthusiastically jumping into the foray.
If you’re considering finding a good investment property in the Rockies, Breckenridge may be the spot for you – but don’t wait too long; you may miss out on a golden opportunity.