Lake Arrowhead vs. Big Bear: Is a Mountain Home a Smart Investment?

by Theresa Grant

Is Buying a Mountain Home in Lake Arrowhead or Big Bear a Good Investment?

By Theresa Grant, Real Estate Broker | Team Owner | Theresa Grant & Associates Real Estate Partners

Buying a mountain home in the San Bernardino Mountains—especially in Lake Arrowhead or Big Bear—can be both a lifestyle upgrade and a smart wealth move. Whether you’re eyeing weekend escapes, rental income, or long-term appreciation, here’s how to evaluate the opportunity like a local.

Snippet Answer: Yes—if you match the right neighborhood and property to your goals, understand local rental rules and seasonal costs, and plan for mountain-specific maintenance. The strongest returns come from well-located, well-prepared homes with year-round appeal.

Start With Your Why: Lifestyle, Income, or Both?

Lifestyle first: If you’ll use the home often, focus on access (winter road grades, snow maintenance), proximity to the lake or slopes, and storage for gear.
Income first: Prioritize guest-friendly layouts (parking, level entry, extra bath), durable finishes, and locations near amenities—Village areas, marinas, and ski resorts.
Hybrid approach: Look for homes that photograph beautifully, sleep the right number legally, and are easy to reach in all seasons.

Lake Arrowhead vs. Big Bear: What’s the Difference?

Lake Arrowhead: A private lake community with “lake rights” for properties inside Arrowhead Woods—valuable for lifestyle and buyer demand. Quiet, upscale feel; stronger appeal for second-home users and families.
Big Bear (including Big Bear Lake & Big Bear City): Public lake with a true four-season resort vibe—skiing, boating, mountain biking—often translating to steadier short-term rental demand across seasons.

Local tip from Theresa: In Lake Arrowhead, proximity to trails and the Village can offset a lack of direct lake access. In Big Bear, access to Snow Summit/Bear Mountain shuttle routes and flat driveways are guest favorites in winter.

Know the Rules and the Numbers

Short-term rental (STR) permitting: Both areas have permit processes, occupancy and parking limits, and noise enforcement. Rules differ between the City of Big Bear Lake and unincorporated county neighborhoods—verify before you buy.
Insurance & utilities: Budget for wildfire insurance requirements, snow removal, and potential septic systems.
Carrying costs: Consider HOA dues (if applicable), local taxes, STR platform fees, professional cleaning, and a 10–15% annual maintenance reserve for mountain wear-and-tear.
Seasonality: Winter storms can boost bookings in Big Bear and slow them in steeper parts of Arrowhead—choose a home that shines in at least two seasons (e.g., lake access + holiday décor; ski access + summer patio).

What Makes a Strong Investment Here

Easy year-round access (minimal stairs, level parking).
Compelling setting (peeks of the lake, forest views, or near resort lifts).
Flexible floor plan (extra bath, bunk room, or a second living area).
Low-drama systems (newer roof, dual-pane windows, efficient heat).
Professional presentation (staging, great photos, simple smart-home setup).

Bottom line: Mountain homes in Lake Arrowhead and Big Bear can be excellent investments when you align property features with your use and rental plan, budget for true mountain costs, and buy in micro-locations that stay desirable no matter the season. As a long-time broker in these communities, I help clients target the streets, HOAs, and property types that reliably perform.

Theresa Grant is a Real Estate Broker in the San Bernardino Mountain Communities and the Real Estate Columnist for the Alpine Mountaineer Newspaper. She can be reached at (909) 442-1345. | Theresa Grant & Associates Real Estate Partners 27177 CA-Hwy 189, Suite D, Blue Jay CA 92317 | www.HomesInLakeArrowhead.com | www.CaliforniaMountainHomes.com | www.MoveMeToTheMountains.com | Theresa@HomesInLakeArrowhead.com | @TheresaGrantRealtor on Instagram & YouTube