All across the country, mountain towns are experiencing a surge in demand for luxury real estate, and theres no sign of slowing down. Of course, its easy to understand the appeal”from natural beauty to endless outdoor activities. Before making an offer, however, many luxury buyers are probably asking themselves how long this boom will last. While its impossible to predict the future, here are just a few reasons why high-end properties in mountain towns will hold their value going forward.
Rise in Remote Work
The remote workforce is likely here to stay, meaning high-paying jobs that used to require living in a large city can now be done anywhere theres an internet connection. Going forward, a growing number of affluent buyers will be relocating from major metropolises and bringing their work with them. As a result, one can safely surmise that the potential buyer pool just permanently increased in desirable locations that previously did not have the jobs to attract full-time residents.
Lifestyle Destinations Are Benefitting
Speaking broadly, there are currently two types of locations benefitting the most from remote workers: suburbs and lifestyle destinations. Regarding the latter, places that have outdoor amenities, like beaches, lakes, golf courses”and, of course, mountains, are seeing an influx of residents. Such markets, which are traditionally strong to begin with, will continue to hold value as the way that people work has likely changed forever.
Year-Round Appeal
Many lifestyle destinations are seasonal and might not be where someone wants to live full time. The mountains, however, have something to offer all year round. From hiking, biking and camping during the warmer months to skiing and snowboarding all through the winter, there are endless activities that the entire family can enjoy together each season. So, while most destination markets are only used for second homes or vacation properties, luxury real estate in a mountain town is suited to serve as a primary residence.
Published with permission from RISMedia.