Your extremely knowledgeable Telluride Sotheby’s International Realty Broker Associate will be able to educate and advise you as to the best property suited to your needs. Whether your dream property is a ranch with acreage on one of Telluride’s mesas or a slopeside condominium in Mountain Village, Telluride Sotheby’s International Realty can help guide you along the way.
A condominium is a form of property ownership involving multiple unit dwellings where a person owns his or her individual unit, but the common areas are owned in common. Most condominiums in the region are located in the Town of Telluride and Mountain Village, and there are many options for buying in the market that range from studios to a five-bedroom penthouse. One advantage of purchasing a condominium is the healthy short-term rental opportunities that exist since Telluride is a world-class vacation destination.
Deed restriction in Telluride is different than in other places. Typically deed restriction regulates the way in which a property, such as a house or condominium, can be used and usually imposed by the property’s present or former owners, the developer or builder, the neighborhood or the homeowner association.
In Telluride, deed restriction applies to restricting the sale or rental of a property by the local government to those that are making a living in the Telluride region. These properties are usually occupied, if not owned, by a local employee or self-employed residents that qualify for the benefit and are at prices below market value. Programs differ between the Town of Telluride, Mountain Village, and the San Miguel County; it’s best to consult with your Telluride Sotheby’s International Realty Broker Associate to determine how the deed restriction applies and if you qualify.
Luxury fractional ownership has become a prevalent alternative to single ownership of property in the Telluride market. Fractional ownership is the division of an asset into shares and then the sale of those shares to individual owners. While owners are limited to specific days or weeks of use, they pay a much lower amount for their share than what buying a whole property would cost, and the owner can sell their shares which typically appreciate in value.
Additionally, they receive benefits that are typical of a resort such as a concierge services, spa, fitness center, room service, and housekeeping. Some opportunities also include privileges such as ski, golf, or spa memberships.
Outside of Telluride and Mountain Village there are many ranch properties that range from two to more than a thousand acres in size. These ranch properties offer a combination of incredible views, privacy, open space and the idyllic western lifestyle.
Many parcels are improved with homes on them, although opportunities to build your dream home still exist with access to services such as utilities and improved roads. While a few of these properties still carry on the tradition of livestock ranching, many are residential in nature but may allow equestrian use.
There is a wide variety of single-family home properties in the Telluride region. As a rule, homes in the Town of Telluride and Mountain Village tend to be more expensive than those in neighborhoods and communities outside of the area. The exceptions are properties to the northwest above the Telluride airport and some of the subdivisions along Highway 145 south. It should be noted that since Telluride is a National Historic Landmark District, there are some restrictions regarding the building, remodeling and improving upon properties that one can do.
Are you looking to build your custom dream home?
Although there are lots available in Telluride; they tend to be small and a bit more scarce. If you are looking to build a bigger home, Mountain Village, a subdivision or a ranch property may be more appropriate. There are parcels readily available in Mountain Village from a fraction of an acre to multiple acres. In the subdivisions, lots range from a half acre to multiple acres and are priced based on views and location.
When you find a home you love, your Broker Associate will help you submit an offer. We are skilled negotiators that know how to get you the best price and value possible. Once an offer has been accepted we’ll help you navigate through inspections, appraisals and closing in a stress free way.
Then it’s time to get the keys, throw a housewarming party and begin making lasting memories in your new home. We’re so happy that you trusted us to help you through this exciting process.