Investment property and skiing.....

Swisdom

I am looking into the possibility of purchasing an investment property overseas and am looking for a bit of guidance.

I just returned from a fortnight in Austria where I spent an awesome 2 weeks with my family in some unbelievable surroundings. Part of the reason for going there was to look at some properties over there. The problem I have is that I have never tried skiing and probably never will as I am too clumsy - so I am not au-fait with the etiquette of skiing holidays.

We are looking at a couple of areas that are not as well known as Kitzbuhel or those bigger names but are beautiful nonetheless. But here is where I need your assistance a bit.

When people go skiing do you go as a larger group and all stay together? Is that in a hotel or a chalet?

If you don't stay together would you prefer a smaller chalet / apartment? or would you get a hotel?

How important is the apres-ski? Do people want masses of bustling nightlife or are a few bars and pubs sufficient?

Do you care if you have a spa / sauna / hot tub in the property or would they go unused?

If I buy one will anyone on here be interested in using it for a small discount?

Obviously I have squillions of other considerations to think about but this is a part of my due diligence so if anyone can give me a few pointers on what is relevant to them it would be very much appreciated.

tom_k

What area is it? I live in Austria full time, maybe send me a pm?

GreenWithEnvy

Ski holidays are very much a group holiday where you would spend a lot of time with each other.

Budget usually dictates lodging style as hotels tend to be cheaper.

I prefer chalet lodging as it is like having your own place in the resort with catering thrown in. If you are lucky (like I have been) both the chalet and standard of cooking can be really top notch. Or it could be a souped up b&b with school dinner level cuisine. Chalets vary in size but average 10/12 people. Spa/sauna/hot tub/satellite tv/wi-fi are great facilities to attract people to the property as well. After a hard day out on the slopes these things are amazing to come back to.

Apres ski is certainly more for the younger folk now (18-30) but it is a big charm of any ski holiday. Just a few beers and a couple of jaegers at the end of the day and you feel unstoppable. However as I get older the quieter bars and restaurants become more and more appealing. Even in chalets where the food and wine are included the chalet staff get one day off in the week you stay, so you will be forced out at least once. A town with a good choice of venues will be a criteria people will look at.

Guess like anywhere, if the resort is already popular then property will be expensive but you should get a decent and consistent yield. Also people forget that the mountains are not just about the snow. In summer hill walking, trails and mountain biking means that there need not be a total lull in property rental.

For an example of a good chalet take a look at this link: http://meribelskichalets.co.uk/chalet-la-petite-silene/

Happy to chat more. Just lunch hour ramblings at the moment.

_MrDick

My Friend's sister has a Ski -in, Ski-Out chalet on the slopes in Verbier. 4 Bedrooms, sleeps 10. On the weeks they're not using it, it's rented out through a letting company. They make a fortune from the rental income

Swisdom

@tom- k we stayed in Murau as wifey has family there. I am in love with the place and the chalet we are looking at his at the base of Kreichsberg. If money were no object that we would be looking at Turracher Hohe but unfortunately they are beyond my pockets.

The chalets we are looking at how simply a 4/5 bedroomed property and it's essentially self catering. I'm not hugely fussed with huge rentals - I just want to cover my costs and make a little bit

tom_k

Sounds great, as @_MrDick says it's common to rent out through a letting company and they handle everything for you.

Swisdom

The place I am looking at will take care of all the rentals, cleaning, maintenance etc but I just need to understand the psychology of skiers and what they look for in a skiing holiday.

_MrDick

Swisdom said:

The place I am looking at will take care of all the rentals, cleaning, maintenance etc but I just need to understand the psychology of skiers and what they look for in a skiing holiday.

As a ski former addict, what I'd look for is something not too far away from a ski lift and not too far away from the centre of the resort. The resort must be within a two hour drive of an airport and have a good snow record by that I mean the season should be mid-December to the end of March. If I were you, I'd be looking at the four Valley's in Switzerland, Cervinia and Courmayer in Italy. I tended to stay away from the cheaper resorts because they attracted the riff-raff and the skiing wasn't that great.

Swisdom

_MrDick said:

Swisdom said:

The place I am looking at will take care of all the rentals, cleaning, maintenance etc but I just need to understand the psychology of skiers and what they look for in a skiing holiday.

As a ski former addict, what I'd look for is something not too far away from a ski lift and not too far away from the centre of the resort. The resort must be within a two hour drive of an airport and have a good snow record by that I mean the season should be mid-December to the end of March. If I were you, I'd be looking at the four Valley's in Switzerland, Cervinia and Courmayer in Italy. I tended to stay away from the cheaper resorts because they attracted the riff-raff and the skiing wasn't that great.

Thanks - interesting perspective. We drove to Zell Am Zee which is popular and I hated it. There was a McDonalds, lots of people speaking english and a huge retail park. To me - that was just like being at home. Where we were was 2 hours from Salzburg (same to Klagenfurt i believe), guaranteed snow and it was simply beautiful. The appeal of Austria is the quality of life and the fact my wife has family there.