Buying a Home in a Ski Resort - Things to Consider

If you love being in the mountains in the winter and are an avid skier or snowboarder, chances are you have dealt with the struggles of booking a place to stay at your favorite ski resort. During the peak of the season, the cost and availability of lodging locations can be outrageous. Rather than dealing with the stress of finding a nice place to stay, more and more skiing enthusiasts are simply buying a property rather than renting one out.

Is a ski resort property worth the cost?Believe it or not, owning a ski property can actually be less expensive and far more convenient for your vacation needs. Rather than dropping thousands of dollars for a few days at a rental, you could simply use your own property for a monthly payment that is near or less than renting costs.

Plus you can subsidize your costs by renting it out while you’re not there. The market for ski homes is booming, as this is becoming the ultimate way to enjoy your favourite ski resort.

Tips to consider when thinking about investing in a home in a ski resort:Location: When looking at resort homes, ask yourself several questions- What is the travel time to the house? Is it close to the ski hill? What are the costs associated with traveling to and from the house? Is the home useable year round? When it comes to choosing the right home accessibility should be a primary concern. After all, who wants to own a ski home that is an hour away from the hill?

Seasonality: When you buy a ski home, you now have access to it year-round. Many ski resorts are not just single season destinations any longer. Whistler has become a 4 season resort that offers incredible skiing and snowboarding in the winter but has also become a premier destination in the summer. When thinking of purchasing a ski home in Whistler, it  is no longer  just for the winter months, it is a year round investment.

Affordability: While we all want the perfect ski home with endless amenities, plenty of space, and an unmatched location, it is important to remember costs. Know your budget and know where to draw the line. While you may want a home right on the side of the hill with ski-in, ski-out access it may be more affordable to look for a house that is not slopeside.

Investment Potential: If you decide to commit to owning a property rather than going through the hassle of renting one each time you ski, make sure that your decision is economically sound. Does the joy of owning the home outweigh the costs? Will you use it enough to get your money’s worth? These are important questions to consider. If your home is marketable to others, you can also consider renting it out to help cover the costs of ownership.

Contact Scott W Todd to learn more about purchasing a ski resort property.