We typically think of winter as the time to stay inside and enjoy warm drinks in front of a fire rather than venturing out to assess, evaluate and plan potential real estate projects. Although the cold weather does typically have a dampening effect on the real estate market, slowing sales noticeably, it also tends to lower prices, so it can be good time to go looking for a good deal on a new commercial or investment property, especially if you’re looking for a property somewhere in the mountains. There are some aspects or potential property red flags to watch for that only winter weather can reveal, so here are five questions to ask about any potential property you’re evaluating in the winter months:

• Does winter weather (or traffic) affect the property’s accessibility? Both residential and commercial properties that sound great on paper can end up being difficult to access in the winter once snow has accumulated and drifts have built up. A property that is easily accessible in the spring and summer can be impossible to reach in the winter if the road that goes there is not well maintained. It’s also important to consider the changes in traffic patterns in the winter as a property that seems close to town, resort amenities, or Denver can end up feeling much further away with winter road closures and when traffic and winter weather cause travel times to and from the mountains to increase (often doubling or tripling driving times) during the winter months.
• What kind of nearby amenities or neighbors does the property have during the winter? While hiking and ski resorts may seem close to a property in the summer, are they still as close and easy to get to in the winter? If it takes more than an hour to get from your property to the closest skiing or hiking areas, will it still be as profitable for you? And does the property have the same types of neighbors year-round? Or is a sleepy, quiet summer complex actually full of partiers during the winter?
• Are there ice dams/icicles on the building(s) or other indications of roof issues? Whether you’re interested in commercial or residential investment properties, winter is hard on roofs of buildings with the weight of snow as well as repeated freezing cycles. Watch out for icicles and build-ups of ice on the eaves of buildings as these can be indications that there are problems with the roof, potential leaks, or that heat is escaping and melting the snow on the roof. If you see ice anywhere, then it’s a good idea to look closely both outside and inside the building and check for discoloration or other signs of water damage on the walls in these areas.
• Is there sun or a view in the winter? Having sun in the summer is nice, but in the winter it can be the difference between a driveway or parking lot that is difficult and expensive to maintain and one where the sun helps to melt snow away before you even have to worry about it. Sun exposure can also help to heat your building and decrease the snowload on your roof by encouraging the snow to melt more quickly. It’s also important to see how winter (with its bare trees) changes a view. What if a view that seemed idyllic in the spring and summer now reveals a parking lot or unsightly building instead?
• Are the sidewalks, pathways, and parking lots easy to maintain and properly illuminated? If you’re hoping to hold onto a commercial property as a long-term investment, then it’s helpful to get an idea of how much you’ll need to budget for snow removal and whether there are any potential liability issues that you’ll need to address.

If you’re interested in investing in commercial or non-owner-occupied rental properties in the mountains, it’s a good idea to assess and evaluate these properties during winter, or at least with winter in mind. And if you need a private capital loan to help purchase a commercial or investment property, contact Montegra at 303-377-4181 for more information about our hard money loan programs.