Tips on Buying Real Estate in Crested Butte
Location and Prices
This information is intended to provide an "introduction" to the various areas of the Gunnison Valley. Let your REALTOR know your parameters (number bedrooms, baths, price range, area, amenities, etc) and they can help you to locate the perfect area and property among ALL those currently available in the Gunnison Valley Multiple Listing Service.
Ski-In/Ski-Out locations provide convenience and views that are in demand so you will pay a premium for these properties. Choose from Mt. Crested Butte, Crested Butte, rural Crested Butte, Skyland, Crested Butte South, Almont, Taylor Canyon, Ohio Creek, Gunnison, rural Gunnison and the Powderhorn Valley.
If you want to be in a golf course community there are many great choices here in the Crested Butte area. The Club at Crested Butte, our Robert Trent Jones Jr. designed golf course features 18 magnificent holes, surrouned by beautiful peaks and yes, beautiful luxury homes and condominiums.
The golf course is only minutes to the ski area and offers a great shuttle service to the lifts so you can enjoy your golf course home in the winter too!
Listings of some currently available building sites, acreage and ranches can be viewed here. Land can be found to build your dream home from 1/2 acre to more than 1000, from close to the ski area and golf courses to quite remote.
Choosing a REALTOR
Be sure to pick a professional, full-time REALTOR and not just a Real Estate Sales Agent. A REALTOR has access to all the properties in the Multiple Listing Service and can therefore provide you with the greatest number of options for homes that match your criteria. Interview 2-3 REALTORS, preferably in person, but at least by mail/email. Determine their experience, education and service philosophy. Do they know the entire area? What kind of support staff do they have? Do they have an online brochure so you can read up on their qualifications. Ask your REALTOR about the Colorado Real Estate Commission's requirement to disclose Agency relationships with potential buyers.
Know all the costs of buying a home
You will be asked to provide earnest money when you submit a contract to buy property. This will be returned to you if you cannot come to terms with the seller on purchase price or terms; it will be applied to the purchase price when the deal closes. If you are financing the purchase, expect to pay 20% of the purchase price at closing and $300-500 for an appraisal of the property. At closing there will be other charges associated with the mortgage so ask the lending company for an "estimated settlement sheet". You will want a physical inspection of the property to help insure against damage or potential problems that may not be obvious to you during your property visits; this will run $300-400. In some areas there is a transfer tax imposed by the local government - how much is it and who is going to pay for this? Are there condo dues and/or homeowner association dues? If you are a second-homeowner, who will manage your property while you are absent? At what cost? Do you want to rent you property, short term or long term, when you are not using it to help offset the costs of ownership? What are the commissions paid to the rental office? What are the cleaning costs?
What is the real estate market like today?
Your REALTOR will provide you with complete information on this question. You can also view this website's market reports for many of the Gunnison County areas to see the sales for the recent past.
Making an offer
There is a history of sales and listings that gives your REALTOR an excellent idea of what the market is today. Your REALTOR will act as an intermediary between you and the sellers agent so that negotiations are tempered with local market knowledge and separation of personalities.
