Breckenridge, Colorado is a prime example of a real estate investment that is going to do well over the next decade because the town is going to be built out. The town council of Breckenridge recently met and made their predictions for the coming decades up to 2030. The council reported that it is estimated that the town will be built-out between the years 2013 and 2020. Think about this, they are predicting that the build-out of Breckenridge may happen within the next 4 years. That’s right, 2013 is only years away. While that prediction might be a bit aggressive, the far end of the build-out prediction is 2020. That is only 11 years away. Anything in that range of 4-11 years should be a wake-up call to the savvy investor. I will explain why.
Breckenridge is a world-class resort that has a year-round population of about 3,000 people but at any given time, has 30-40,000 tourism-based visitors. The allure of Breckenridge starts with the ski area. Right now, the ski area includes Peaks 7, 8, 9 and 10 of the panoramic Ten Mile Range. It is predicted that by 2030, the ski area will have expanded to Peak 4. That means the anticipated expansion of ski area operation to Peaks 6, 5 and 4. This move would increase the size of Breckenridge Ski area by about 40%. That expansion alone is reason enough for you to invest in Breckenridge. If Vail Resorts is willing to invest in that much expansion in Breckenridge, you should heed that call.
In addition, the allure of Breckenridge has far surpasses that of being a world-class ski area that is only 90 minutes from the Front Range of Colorado. Breckenridge has become a true four-season resort that seems to have some festival or event happening almost every week of the year.
The recent rise in gas prices is another reason that Breckenridge becomes a more attractive investment option for your real estate investment dollar. As the public becomes more concerned about the price of fuel, they vacation closer to home. Breckenridge’s close proximity to the Front Range of Denver and Colorado Springs is a major draw to families wanting to stay closer to home.
Breckenridge prices are still reasonable. Breckenridge prices are going to go the way of Vail and Aspen as the pending build-out looms closer. You can still buy homes and land in Breckenridge for a reasonable price, especially if you have a savvy realtor that knows value and can assist in helping you locate that value. There is a parking space for sale in Vail that cost $500,000. You can still buy a home in Breckenridge for that amount.
The bottom line is that if you are a real estate investor, it would be foolish to not consider Breckenridge as a very strong investment vehicle. If you do not act soon, you are going to miss the boat. You want in the game now, while prices are still reasonable. Supply is going to dwindle as the town is built-out over the next couple of years and that is going to drive prices nowhere but up. My advice is a strong, find a value priced property and buy it now.
