What are the best property investments in Mammoth?
This question comes up time and time again. Most buyers looking for property in Mammoth usually want to invest in a property that they will not only enjoy, but will also generate decent rental income, and appreciate in value when the market rebounds. When clients ask what the best property investments are, I always recommend: Location: At or adjacent to the amenities (ski slopes and golf), high rental-producing complexes, and/or newer construction.
Location is still the most important factor when looking to invest in real estate. Those properties that are located within walking distance or are “ski-in, ski-out” (The Bridges, Eagle Run, Sunstone, Juniper Springs Lodge, 1849, Sierra Megeve, etc.), golf course properties (Snowcreek 5 & Lodges, Timbers, Woodwinds, Solstice, Mammoth Green, The Cabins at Crooked Pines, etc.), or creekside/meadow area of Mammoth (Snowcreek 1-4, Creekhouse, Mammoth Creek, Snowflower, Sunrise) will be more attractive to investors and have greater resale potential.
If rental income or return on investment is important, buyers should consider well-managed complexes, such as the “condo hotels”, which have the highest rental income figures. Some of these complexes include Juniper Springs Lodge, Sunstone, Eagle Run, Lincoln House, White Mountain Lodge, Grand Sierra Lodge, and The Westin. Units within these complexes will receive the most exposure through a sophisticated advertising campaign to draw in the Mammoth visitor with attractive flight and lodging packages. Currently, cash is required to purchase within a condo hotel. Once financing is available at these complexes, the demand will most certainly increase.
When looking at the various property options, it’s obvious that newer construction will have the most current building and safety codes, and will imply that the property owner won’t need to worry about a looming large scale assessment to replace siding, roofs, windows, etc. Most buyers are gravitating towards a newer development or newer construction home for those reasons.
Today’s buyer has many options, but it boils down to personal preference and price range on determining the best property for the ideal Mammoth investment or vacation home.
Feel free to post your comments, or contact me for more information.
Verena Robinson, Broker/Owner
Mammoth Lakes Resort Realty
CA BRE License #01512209
tel. (760) 924-8521