Over the past few years, ski property has gained a lot of popularity among people who have grown tired of being turned down while trying to book a weekend at their favorite ski resort, especially during peak seasons. In addition, the cost of renting these types of properties continues to escalate, and avid skiers and vacationers are beginning to realize that it’s less expensive to buy a property than to rent one.
For example, it’s fairly common for vacationers to pay $2,000 or more per night at one of major ski resorts. For that amount of money, you could almost pay for a monthly payment on your second home. For many skiers and winter vacationers, the idea of owning a ski property is an attractive option to renting or buying a time shame. By buying your own chalet or cabin in the mountains, you can pick the weeks you want at the resort you like
But before you jump in and put a huge down payment on your favorite vacation, there are a few things for you to consider, such as accessibility, seasonality, affordability, location, and investment potential.
The following are five different things to consider before taking the leap:
Whether you’re in the market for a second home that sleeps your entire family, or a ski apartment for one or two people, accessibility is a major factor. For example, are you willing to take an airline trip to your second home? How far is it from the airport? Can you jump on a plane and head up to the mountains for a day of skiing—all within the same day? Also, how much will it cost for you to fly to your second home? These and other factors will influence your decision about purchasing a ski home.
If you are looking for a mountain getaway where you can enjoy spring and winter activities, then you’ll want to find a resort that accommodates activities for both climates. Some of the more popular resorts like Aspen, Vail, Telluride and Park City offer activities during the summer and winter.
On the other hand, if you just want to ski, then the decision is simpler, and you can aim for the high elevations of the Alps for your part-time home.
Bear in mind that premier ski properties that include all the amenities, such as high-altitude, great accessibility; amazing amenities, and high-demand rentals will cost a lot more than lesser known properties. As a result, staying within your budget is an important factor as well. You may end up choosing to bypass the high-cost of airfare and other amenities to travel to French resorts by choosing a more affordable option in the Rockies or Wasatch Mountains.
If you’re thinking about owning a vacation home overseas, places like Les Arcs, France offer a great family-oriented resort with a lot of lively summer activities.
If you’re willing to travel to France, some of the lesser-known resorts like Les, Saisies, Brides les Bains, and La Roche are worth taking a look. Much like Park City, La Roche is a former mining town. In the U.S., resort areas like Telluride, Aspen, Vail, Park City, and Jackson Hole also offer some great options for avid skiers and vacationers as well.
When it comes to ski property and vacation homes, it’s essential to consider whether or not it brings in enough cash flow to cover the cost of ownership. In other words, you may want to consider renting it out to a trusted family member or friend during the off season in order to help cover costs.
If you’re considering a ski home for your next major purchase, keep in mind that there are plenty of options available, and it’s always best to look before you leap.