You’ll find condo living at its finest here in Pagosa Springs. There are several types of condos in the Pagosa Lakes (Fairfield) core area. With Pinon, Pines, Lodge, Pinonwood, Lone Pine, Racquet and Aspenwood condos, you’re sure to discover the perfect home for you. Each condo section is governed by its own bylaws and restrictive covenants. A monthly maintenance fee is paid to the Condominium Association, which cares for landscaping, and also takes care of water and sewer, trash and snow removal, as well as the building and common area insurance. Part of this fee is set aside for general building improvements also. These condo units vary from delightful efficiencies up to spacious 3 bedroom units. Monthly maintenance fees average from $90 up to $180., annual taxes vary from $450 to $1000. The condominiums are also subject to the Pagosa Lakes Property Owner Association’s annual dues. Most of these condos are located in the core area around Pagosa Lodge, with some facing the Meadows golf course, while others enjoy spectacular lake and mountain views.
The Aspenwood condos are the newest buildings with efficiency units, some with one bedroom lock-offs. Many have fireplaces and mountain vistas; these condos are very popular. We have also begun to see 3 bedroom, 2 bath condos and town homes with garages.
Two condo units are located on both Lake Pagosa and Hatcher Lake, located outside of the core area; these condos offer lovely views. You’ll find a smaller groupings of condos located on the green expanse of the Pines golf course.
Many of the condos are fully furnished with all the amenities of home. Fully equipped kitchens include dishes, silverware, a coffeepot, and more. All you need is your toothbrush.
On a financial note, the condo market was soft in the late 80s and early 90s because of revisions in1986 that took away most tax advantages. People are getting back to the idea of using and enjoying condo life, and now the market is accelerating. When you buy a condo you can have the best of two worlds by putting the unit on a short-term rental program. There are several rental management companies that can manage the unit for you. Some buyers find that the income received from renting offsets some of the annual condo expenses. In this instance, you will still be able to use the condo yourself.
Don’t wait to get your hands on the great deals we’re seeing now. With the way the market has improved the past few years, supply and demand is forcing the prices higher. Now is the time to buy.