Why Now Is The Best Time To Invest In A Durango Vacation Home

Durango is a gorgeous and exciting small city in southwestern Colorado near the New Mexico border. It is famous for its breathtaking waterfalls, scenic nature preserves, rejuvenating hot springs, and of course, the San Juan mountains. Residents enjoy outdoor activities, including rock climbing, canoeing, camping, and nature tours. They have an eclectic array of fine dining establishments, such as the contemporary American cuisine of Eolus Bar & Dining, Ore House, famous for its savory steaks, and Seasons Of Durango, well known for their fresh seasonally-inspired dishes. A popular attraction for visitors and residents alike is taking a tour on the 19th century Durango & Silverton Narrow Gauge Railroad that passes though Durango’s mountains and canyons. You may also want to visit the stimulating  Powerhouse Science Center with its interactive and thought-provoking exhibits. Be sure to take the time to savor all that Durango has to offer, including exclusive Durango luxury homes!

Everyone looks forward to a good vacation! Vacationing can be wonderful but also stressful when you’re trying to remember to pack all necessities, ensure reservations are correct, and of course, travel time. Investing in Durango luxury homes can pay off in multiple ways, from convenience for future vacations (less packing and unpacking equals more time to enjoy the sites) to long-term profits from renting it through Airbnb or VRBO. There are four main things you should consider when purchasing Durango houses as a private residence or as an investment property:

Having your own vacation home dramatically decreases the stress of planning a destination vacation. Durango is a popular vacation spot with its natural beauty and vibrant community. It has plenty to do—from cultural events and music to fine dining, upscale shopping, and exciting outdoor activities. Having a vacation home in Durango, you can travel to your own personal space equipped with everything you need to make vacationing a breeze. In addition, if Durango is within an easy drive or flight from your home, you’ll block out more time to take more frequent vacations to relax and unwind.

Savvy investors have second homes, understanding the value of real estate holdings. Your luxury Durango home can also be used as an investment property and a legacy for future generations. You don’t have to pay cash when buying a vacation home—nearly 75% of individuals purchase a vacation home with investment through financing. If you also use your vacation home as an investment property, the income will offset the mortgage, HOA fees, and property taxes while you sit back and build wealth for tomorrow. Using your vacation home as an investment property will diversify your income and revenue stream. Be sure to use a knowledgeable local agent to help you buy a vacation home with a reasonable cap rate.

Even if retirement is a long way off, having a vacation home opens up exciting opportunities for planning the second stage of your life. If you have also been using your Durango luxury home as an investment property, it will likely be nearly paid off by the time you retire. Your once vacation home can now serve as your permanent residence and a beautiful destination for friends and family to visit. 

By investing in a home-away-from-home in Durango, you will be vacationing in Durango so often that you will undoubtedly become part of the lively community of full-time residents. The residents of Durango are welcoming and friendly, and you’ll soon find yourself recommending restaurants to tourists and exploring the hidden gems of Durango’s natural landscape. Having your own vacation home in Durango also means having a furnished, ready-to-relax-in home that makes you feel serene and at ease whenever you want. 

Durango, the heart and soul of San Juan mountain country, is a hot spot for tourists from all over the United States. The San Juan mountains provide a stunning backdrop, perfect for hiking during the Spring, Summer, and Fall, and an ideal spot for skiing and snowboarding in the Winter. Durango has a small-town charm rich with eclectic shopping and eating destinations, with over 500 stores, such as Lively, an adorable boutique, and The Sparrow Mercantile, a personal shopping experience. In addition, there are historical exhibits, museums, and galleries such as The Animas Museum/La Plata County Historical Society and the Toh-Atin Gallery. 

Durango is the perfect place to enjoy the outdoors, from its serene nature preserves to its mountain trails and national parks. The San Juan National Forest is Southwest Colorado’s national forest and a lovely place to spend the day. Chimney Rock National Monument is an archeological gem and a sacred Puebloan site, an ancient community carved in stone. Durango has become one of the top vacation spots in the country with its wealth of recreational activities. With plenty of options for luxury vacation homes, including stately multi-million dollar cabins and other affluent properties with outstanding views, Durango will undoubtedly become your oasis for exciting adventures, rest, and relaxation. 

The real estate market in Durango has been booming over the past few years. The median home price for a single-family home is $749K, with a current count of 330 active listings. Houses have been averaging 92 days on the market. The market is continuing to improve for buyers, especially with condos and townhouses. Durango has lower property taxes, and historically, appreciation has been strong. Durango luxury homes are highly sought after, so check listings often to be on top of the most up-to-date inventory. 

If you’ve fallen in love with darling Durango, now is the time to start looking for that perfect property. First, use a local and knowledgeable Realtor who knows the ins and outs of Durango’s luxury real estate market listings. Then, when you’re ready, consider reaching out to expert Realtor Kyle Kunkel, who is prepared to guide you through the process and help with all your real estate needs.