The luxury market in Steamboat Springs can be defined in many ways, but for the purpose of this analysis, it will be defined as properties that are valued within the top 5% of their respective property type. Luxury properties in the Steamboat market have grown in prominence over the past several years and rival those in similar top tier resorts.
Condominiums It is no surprise that throughout the years the highest valued condominium properties have come with a slopeside location, but now luxury condos can even be found downtown. Standard appointments with these luxury properties include granite counter tops, high tech appliances in gourmet kitchens, custom cabinetry, wood and slate floors, walk-in closets, concierge service, superior amenities and slope side convenience. Some of the most luxurious Steamboat Springs condominiums can even offer multiple fireplaces, an elevator from the parking garage directly into the living room, private offices, and media, billiard and game rooms.
Buyer Tips The cost for luxury and convenience in owning a property like this comes in two forms. One is the purchase price of the property, and the second is the association dues. HOA dues and special assessments are typically apportioned by the square footage of the condo divided by the total project size. Because luxury condominiums are going to be the largest condominium in the complex, this may be a substantial amount. Check HOA meeting minutes from the last several years to see if there are any upcoming assessments in the works.
Town Homes Due to the increase in land and development costs, town homes have increased in both price and size and now rival single family homes. Luxury town home buyers find they could have less maintenance and more amenities and services than a single family home would offer, or perhaps a specific location that is only available with this type of property.
Buyer Tips Pay close attention to how the homeowner’s association is formed and how maintenance and upkeep are determined. With a private duplex, it may be up to each owner to take care of their own maintenance, and if you feel it’s time to stain the building brown, and your neighbor wants it white, there may be a problem.
Single Family Homes The imagination of owner and architect come to light in the design of Steamboat’s most beautiful homes. Routt County is blessed with quality architects, builders and craftsmen. Common amenities with these properties include home theaters, high tech property monitoring systems, gourmet kitchens, exercise rooms and heated driveways leading to three- and four-car garages. Luxury home creativity has gone so far as retaining the services of an architect specializing in custom designed wine cellars.
Buyer Tips Many feuds have started in the west over water. It is growing nearly as valuable as the goldthat originally brought settlers here years ago. Ponds, streams and rivers add a great deal of character to many of the properties in this category, and the buyer needs to confirm the existence of adequate water rights for the buyer’s use and enjoyment.
Steamboat Luxury Market Caution Some sellers have an “I’ll throw it on the market at some outrageous price and see if I get an offer” mindset, which is dangerous for the unsuspecting buyer. Although the home itself may be sizeable, an untrained eye may not recognize the quality within may be inferior when compared to others on the market. Buyers in the Steamboat luxury market need to work with a reliable expert in this field who is able to understand the type of property their client has in mind, know how to locate the best values (as well as those that are overpriced), advocate their client’s position and assist in the negotiations with the utmost care and concern.
I am proud of what I have been able to accomplish for clients in the luxury market. My years of experience, thinking “outside of the box” and seasoned negotiation skills are most utilized when working with a client who has extraordinary needs and desires. Furthermore, I recognize and respect my client’s privacy and confidentiality. As your exclusive Steamboat Springs buyer’s broker, my main goal is your complete satisfaction. To hear from some of my luxury property clients and learn about their experience, as well as some of the luxury purchases I have assisted clients with, please click here.