BEST ADVICE WHEN LOOKING TO BUY A SKI PROPERTY
You’ve thought about it, dreamt about it, actually considered it as feasible, maybe even started looking for some ski property for sale, and now you’ve finally decided that it is time to become an Alpine home owner. While the desire to become a homeowner in the Alps is strong, you shouldn’t rush into a decision without first considering some important aspects. This is why we’ve put together our best advice when looking for ski property for sale. Here are our top 5 tips.
1. Research popular resorts
This seems intuitive when looking to buy property in general. Researching the market should always come first, but in the case of ski property for sale, there’s more than meets the eye when it comes to research. Popular or high-demand resorts are most obviously the first place to look, but don’t mistake popularity for luxury or high price. Extremely expensive resorts aren’t always the most popular or the only popular ones. While well-known and advertised skiing locations in the Alps can be a sure deal when buying property, the purchasing of a chalet in one of these resorts might also mean a higher price paid when buying, but not a higher income from rent. As such, the best tip when looking for ski property for sale is to research those resorts that are not as expensive, but still quite popular with the skiing aficionados.
2. Consider up-and-coming resorts
If you cannot find any property at a reasonable price amongst the popular but less expensive resorts, then try a different market research technique. Dig deeper and see what the trends are. Which is the most likely resort to become the next big thing? Find a couple of locations that are the best candidates and start looking for property in the Alps. But since this isn’t a sure deal, there are risks. While the gains might be big since you caught on the trend early and bought your house at a reasonable price, you might also end up with a chalet that isn’t faring as well as you hoped because the trend turned out to be just a fad. So bear in mind that when going for up-and-coming resorts, you might not necessarily strike gold.
3. Off-season opportunities
Buying high-altitude property in the Alps will ensure better slopes, but it might also mean fewer opportunities for renting or using off-season. If you are acquiring a chalet with the intention to spend as much time as possible there, even during late spring and summer, then you might want to consider properties at lower altitudes as these generally offer more opportunities for outdoor activities during the warmer months. In terms of ski slopes, you might have to rely on snow cannons for late and early winter, meaning inferior-quality snow. But not everyone is as picky when it comes to the piste on which they are sliding down and it might be worth the risk. This way you will have a chalet that can be used or rented year round. If you are interested in this type of property, be on the lookout for chalets that have nearby picturesque lakes, stunning landscapes, multiple hiking trails, and outdoor activities.
4. Match the resort’s visitors with the property
When choosing to buy property in the Alps, it is also essential to know the type of visitors specific to your designated resort. For example, some resorts are more popular with families with children travelling alone or accompanied by family friends, while others cater more to the needs of younger couples or groups of friends and to the needs of younger generations such as millenials. Depending on your location, you should look for property that matches the visitors to make the most out of your chalet. If your chosen resort is extremely popular with families, then invest in a bigger chalet that has amenities fit for a family of four or more and includes a separate space where children can play without disturbing the adults, with a big garden where they can run around all summer long. No point in buying an intimate couples retreat.
5. Beware of hidden costs
When looking at ski property for sale, you should always take into account the hidden costs of owning that chalet. Ignoring all the expenses that pertain to the actual purchasing of the property, you should always bear in mind when calculating your budget all the maintenance costs. You won’t be there year round to take care of everything and a leaky roof, a window that doesn’t close properly anymore, or the central heating system not working will be a nightmare for your tenants and for yourself. Consider things carefully before buying, so that you have enough money left for maintenance if needed.
If you need more information pertaining to purchasing property abroad, you can find useful advice on the gov.uk website. Make sure you seek out all the advice needed before committing to anything and there will be nothing standing in between you and your dream property in the Alps.