Editor’s note: Contemplating a second home in the mountains? Building or buying outright are not the only options. Here Irene Rawlings, editor in chief of Mountain Living Magazine, lists a few issues to consider before settling into a place in the hills.
The most important question to ask yourself: How many days will I be able to spend at my vacation home? If the number is low, consider one of the many vacation-ownership options.
Residence clubs. Many resort hotels offer private clubs that include an array of hotel-based services and amenities. Most clubs have deeded memberships that can be sold, willed or transferred.
Destination clubs. Members pay for the right to access properties club-wide for a certain number of days a year. Like a golf club membership, destination club memberships do not have equity ownership of the club.
Other options: Fractional ownerships offer equity interest in a portion (typically 1/12th) of one residence. Exchange options are often available.
Timeshares. Owners buy a deeded or right-to-use membership that allows them to stay at several of the company’s properties.
After considering all of this, if you still aspire to building a second home in the mountains, start with a list. Do you want to be close to town for convenience or farther out for privacy? Do you like being alone at night or do you want neighbors nearby? Once you secure the right property, visit it at different times of day and in all seasons to determine where you want to site your home. You can “test drive” your location selection by building a modest guesthouse on that spot before spending big bucks on the main residence.
