Overall guidance advice - summer home

[Bruce Reeves]

Been retired for four years. Getting the idea of a summer home to beat the heat in Arkansas. Landlord of 25yrs, so rental property is not something new to me. 

At this point I just have a fuzzy idea of what I want to accomplish but here goes. 

Looking to buy a small condo/house/townhouse for a summer get away for parts of Jun/Jul/Aug. Fish, pickleball, hike, golf, gym for activities. Decent grocery store and general shopping, not way out in a rural setting. 

Thinking the San Juan Mountains in Colorado or perhaps Eagle's Nest NM area. 

I have stayed at an AirBnb for a month in the past but no interested in doing that. That would make things too easy.

Budget is somewhat limited in the 200-300k range. Leasing it out via Airbnb or Vrbo is an option if available and demand is there.

No creative buying strategies needed. Just your basic 20% down get a loan, etc.

I know there are 84 other variables that come into play in making the decision.

Does the think tank here have any general pieces of advice?

[Collin Hays]

It sounds like Eagle Nest or Angel Fire are good options. Angel Fire has developed a decent infrastructure for living there - a few gas stations, a small grocery store, and a few restaurant offerings, a couple of churches, etc. I prefer it to Eagle Nest because you are right next to the mountains, whereas Eagle Nest is more out in the open and seems to appeal more to the overnight crowd. RVers, and bikers.

I will admit, my permanent home is only about 4 hours from Angel Fire, and I really am not a fan of New Mexico in general. But there are always condos for sale in Angel Fire, quite possibly in the range you are seeking. It isn't going to rent particularly well, but not awful either.

I am sure you have thought about this, but the Smokies are probably nearer to you than NM. Although temps in the Smokies are not as cool as Angel Fire, they aren't bad. It cools down quite a bit in the evenings. You could probably score a condo in the Gatlinburg area for your price range. Your income potential will be much higher.