Why? Most people are not aware most single family homes cannot be rented out on a nightly basis — only some areas within the Town of Mammoth Lakes are zoned transient rentals (check the town’s website).
Next, consider maintenance of the property. Maintaining property at an elevation of 8000′ is a little different than sea level. Owning a condo means you pay monthly Home Owners Association (HOA) dues and in most cases snow is removed in the driveway (parking lot), walkways and areas in front of fire hydrants. Additionally, consider roof snow/ice removal and prevention of frozen pipes are usually handled by the management company.
Owning a single family residence means you must take care of these maintenance concerns yourself. You can hire your own management company, compare pricing, negotiate the contact and make sure the work gets done.
Finally keep in mind the HOA fees in the majority of Mammoth projects include many of the typical monthly out of pocket expenses, including fire insurance and a reserve for repairs (roofs, siding, painting, landscaping, road/side walk repair, etc).
There are many great condos and single family homes in Mammoth Lakes. Before you buy, make sure you have all the facts so you can make a well informed decision. A qualified real estate professional can help.
For previous articles, visit www.sonjabush.com