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To Rent or Not Rent?

August 30, 2018

The Pros and Cons of Renting Your Investment Property in Breckenridge

Renting out your second home or investment property in a popular vacation destination like Breckenridge, Colorado is a tempting proposition for so many reasons. Here are some pros and cons – from our pros – to consider when you’re thinking about renting your Breckenridge property.

Pro – An Immediate Return on Your Investment

Rental income is the biggest advantage of renting your investment property or vacation home. You’ve already invested in the real estate and outfitted your mountain retreat; renting the unit can deliver an immediate cash return when all of the pieces fall into place. Services like VRBO can help you determine how much to charge for renting your vacation home based on features like location, number of bedrooms and extra amenities.

Con – It May Be More Work Than You Think

There are a lot of things that need to happen to successfully rent your investment property. Factor in marketing, managing reservations and maintenance when planning and budgeting to rent out your place. If you’d prefer to have someone else handle the day-to-day details, consider a full-service vacation rental management company.

Pro – New Online Resources Can Help

If you decide to rent your property, you’ll find more and more resources on the market these days to help you. Companies like Airbnb and Turnkey can help you connect with potential renters. Fees for web-based services can also be lower than traditional rental managers if it’s the right fit for you and your property.

Con – Beware Neighborhood Rules

Restrictions on short-term rentals are a hot-button topic in many communities. Towns like Breckenridge are exploring how to balance the needs of owners who want to rent out properties with full-time residents who don’t want short-term renters for temporary neighbors. Be sure to research any rules in your HOA or community charter that might influence your plans for renting your investment property.

Something to Consider – Balancing Your Plans with Rental Demand

If you’d like your investment property to do double duty as your vacation home and a rental property, remember that rental interest and income is likely highest during the times when you may want to stay there yourself.

It’s important to weigh the pros and cons, as well as do your research before purchasing an investment property in Breckenridge. Feel free to look into our other investment property resources, or contact The Moen Team to find your dream investment home in Breckenridge!

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5 Upgrades to Up Your Sale Price

August 23, 2018

Thoughtful upgrades to your property can deliver a big return on investment when you’re ready to sell your home. Whether you have the time and budget for a major renovation or are looking for quick DIY improvements, consider these tips from our real estate experts.
According to HGTV, out of each dollar that you spend on renovations, 75 to 80 cents go directly back into your home through the increased value.

Curb Appeal Is Real

While the growing season in Summit County is short, beautiful landscaping can create a wow factor year-round. A quick consultation with local vendors can yield ideas for an evergreen yard design. A fresh coat of paint on the door, trim or shutters and mountain-inspired details can set the tone for the interior design and make the right first impression on potential buyers.

Kitchens Really Do Sell Houses

Realtors, appraisers and buyers agree – upgrades to the kitchen are the number one opportunity to increase the value of your home. Choose how high-end and high-design you want to go with cabinetry, appliances, backsplash, flooring and fixtures and don’t be afraid to take risks to create a unique mountain retreat. The average return on investment on a kitchen remodel is almost 70%, so well worth your attention.

Make the Bathrooms Shine

Like the kitchen, upgrades in bathrooms are high-impact and will catch the eye of the potential buyers. A brand-new, spa-like master bath will stand out, but less expensive improvements will also increase the sale price. New faucets and lighting are relatively inexpensive and will make even the smallest space shine. If you do have the budget to renovate, the average cost of remodeling a bathroom is $5,000 to $8,000 and you will make your money back here.

Create Space

Knocking out a wall to create an open floor plan can change the feel of a house, especially if your home is small. Removing dark window treatments or installing new windows can also make your home feel bigger without adding real estate. Consider expanding the livable space in your home with improvements outside too – a fire pit or paved patio with room for seating can catch the attention of buyers who like to entertain.

Go Green

New energy-efficient features can save money on utilities – in the range of 30 to 40% – and increase the value of your home. Insulation, appliances, heating and cooling systems, windows and solar panels are the most common upgrades to help make your home attractive to buyers who are aware of the benefits of energy-efficient homes. Start with an energy audit and make sure your realtor knows about the improvements to make the most of your investment.

Blog | Teresa's Take On Things

Sellers prepare to sell!

April 19, 2017

Now we enter in to the time of year when spring break is over, the skiers have gone home, and town is quiet. All the home owners have received their revenue from the winter season or have finished up a winter with their families. We have been telling you that our inventory is low and now we are seeing new listings come on the market everyday. If you are getting ready to list your home, it is a good idea to talk with your realtor, Roger and Teresa Moen (of course) prior to that time. We can give you knowledgable tips on how to prepare your home to sell. Sometimes it is a matter of a paint color, the staging of furniture or removing some personal items. It doesn’t always need to be costly. These things sound small but some people have vision for their own colors and furniture and others do not. I remember when my mom sold her home she felt that the wood paneling was a huge selling feature but she didn’t realize that in the 70’s it was. She was unaware of what a buyer was looking for today.
Another good idea is to have a home inspector come to your home and he will write up a report on what needs repairing. Many times sellers are unaware. This helps you in two ways. You will not be blindsided by some major repair such as a roof issue for example and you have the option to remedy whatever your home needs. This also shows the potential buyers that you were a responsible homeowner and they feel more comfortable in their purchase. It also helps you, the seller to substantiate your asking price.
So, I have more, call me let’s talk!!