You’ve been a long-time fan of skiing. So you think that it’s the perfect time for you to buy a property in your favourite ski destination. You’ve been looking at a ski property for sale for some time now. You consider the possibilities, and you think you are financially capable. But wait the minute. Have you considered the benefits of buying a property near a ski site? They are more numerous.
Having a deep appreciation for skiing is different from managing a ski property. Unlike a regular property purchase, buying a ski property is more complicated than you might think. So before you decide to spend your precious millions of dollars, here are some questions that you might want to consider lest you will unknowingly turn your precious millions into a total waste.
Who Will Manage the Ski Property?
A ski resort is a pretty complex property that requires expertise in managing the specific facility. All equipment and amenities have to be properly maintained. In short, it requires a lot of work. In fact, more work than your normal holiday home destination. Consequently, this will need management of the eliteorder to ensure that the employed staffs are competent and will truly do their responsibilities to the highest of standards.
Every after holiday seasons when the holidaymakers will vacate the premises, the whole ski resort will need to be overhauled for cleanliness and all equipment will have to be re-arranged, repaired, and assessed for possible damage and theft. These things will cost a lot to implement because it will require a tremendous amount of manpower to execute.
So unless you think you are up for this challenge, then it would be best to hire a property manager. Finding the right property manager who will oversee every activity within the resort to keep it from falling apart will be very crucial. It can become a make-or-break for the future of the resort. Employing the most experienced will also require a high salary, which translates to additional expenses for you.
Is the Location Favourable for Your Resort to Persist All Year Round?
Question the location of the ski resort. Will it have enough clients for the establishment to subsist on tourist arrivals throughout the year? If it is located in a tourist town, then that does not automatically make it a good buy too. If the tourist industry experiences a significant downturn then the surrounding areas will be affected, including the ski resort.
The ski resort must be near many other establishments that offer different types of amenities like shopping centres, other tourist spots, beautiful scenery, popular hotels, or famous restaurant chains. Situating the ski resort near a major town or city or just a few hours away from the airport would also be crucial for its future growth.
Now, these conditions are very hard to attain. If you do find this ideal location you would have to welcome the idea of paying double or triple the amount. Hot locations like these will understandably increase in price because of the high demand.
What are the Capital Growth and Total Annual Return?
It is believed that capital growth for holiday destination like a ski resort located away from the inner city is very unpredictable. Resort destinations will enjoy good business once the economy is also booming. Unlike establishments that offer life necessities like food restaurants, ski resorts will only attract buyers if the economy is favourable. In any economic condition, it will only attract the elite class first which comprises only a small portion of the population.
Therefore, you would need an experienced expert who can give you an approximate calculation on what your expected capital growth would be. It is important to know your investment yield in year so you can gauge whether the ski property for sale is indeed worth buying or not.
Can It Truly Become Your Dream Holiday Home?
Owning your own ski resort will also give you limitations regarding how you would want the establishment to be constructed and presented. Since you will be catering to other holidaymakers and co-ski enthusiasts then not everything you wish will have to be implemented. You will need to consider other people’s tastes in order for your establishment to continue attracting guests.
You cannot impose your personal style or decoration for a particular suite room, a couples’ room, or a family room because you will not be there all throughout the year. You will need to be inviting to all types of guest in order for your ski business to continue. So the design and style of your resort will have to be dictated by what will normally be attractive to any person.
You should also welcome the idea of having a total stranger use the facilities in your ski resort, sleep in your bedroom, use your personal pillows and blankets, and exploit your personal and family belongings.It would be a total waste to devote a particular room only for your own use, especially during peak seasons when many guests will flock to book a room in your resort.
So, if you are forced to decorate your ski resort to accommodate the taste of the majority, will it still become your personal holiday home?
Benefits of Buying a Property near A Ski Resort
Now that you know the tremendous amount of work and stress that owning a personal ski resort entails, you should now be ready to consider buying a property that is in close proximity to your favourite ski resort.
First, it will be a lot cheaper. Since you are not buying a ski property, then you will expect a tremendous slash in price. It is going to be a regular property, but with the perk of being close to a holiday destination.
Second, it will not be as complicated as buying a ski property. Since this is a regular property transaction then you can expect it to be less complex. The legal obligations will be less and the paperwork will be more minimal.
Third, you can continue enjoying your favourite leisure activity in your favourite destination while enjoying the comfort of a home that is customised to your taste, needs, and wants. Since you own the property and only is expected to exploit it then you can do whatever you want with it to your heart’s content.
Fourth, maintenance work and expenses will be kept to a minimum. Since only you and your family will occupy the property during the holiday season you can expect for all the equipment and facilities to be easily maintained.
So who needs to look for a ski property for sale when you can enjoy a lot more privileges, minus the tremendous expenses and immeasurable stress, if you buy a property that is near a ski resort?