According to county records approximately 90% of homes in Red River and Angel Fire are owned by non-residents (owners whose tax bill is mailed to an outside zip code). So what drives people to buy homes in resort areas when they could just simply rent a house when they want a vacation and avoid all the hassles of home ownership? Many people have incomes that exceed their needs and with that comes an unlimited amount of places to invest that same money. So why do they invest in resort properties? Individual motivations can vary widely and in many cases tend to overlap, here are some of the biggest reasons. 

Many buyers just want a second home in order to escape the daily routine of home life at their primary residence and spend some time relaxing and indulging in pastimes that they may not normally have available. 

Rental income. The short term rental market has become a hot commodity over the past decade. Income from renting out your property in a resort area can be lucrative. These funds can not only put cash in the pocket of the owner but can also go a long way in paying for the home. 

Retirement destination. Our towns offer a nice climate, activities, social functions and many other amenities that appeal to retirees. These homes also offer a desirable location for multi generational family gatherings. What grandparent doesn’t want the grandkids around?

Real estate appreciation. Due to supply and demand, real estate tends to appreciate at a higher  rate in resort areas than it does in other areas. There are only so many nice places to go and they always come with a finite amount of available properties. 

Lifestyle choice. If you are reading this, then most likely you have experienced what our resorts have to offer and the fact that we have a nice lifestyle is no secret. The accessibility to outdoor recreation, laid back atmosphere and natural beauty is unmatched. 

Irrespective of the reasons behind their home purchases, these non-residents generate a substantial level of economic activity that contribute greatly to the development of additional infrastructure, thereby enhancing the overall quality of our towns. So to the non-resident and resident homeowners, thank you for being here, it takes all of us to make this work. 

 

Real Estate Questions? Feel free to contact me. 

 

Rob Swan

Qualifying Broker, Swan Realty

rob@swanrealtyinc.com

575-613-4243