Passionate about winter sports, are you considering buying a condo, a chalet or a house on the edge of the ski slopes? Browse the following article to learn everything about the real estate market near a resort, the advantages and disadvantages of this type of property, as well as how to manage short-term rentals to make your investment profitable.
Why invest at the bottom of the slopes?
Renting a ski-in ski-out chalet or condo, year after year, can be expensive, especially if your selection criteria are high. So how do you enjoy this family sport without breaking the bank? "After analyzing the transactions carried out near 38 of the 74 ski resorts in Quebec (resorts operating less than 10 slopes were excluded from the study), the firm JLR Solutions foncières concluded that owning a property where there is a ski resort is indeed an asset”.
That being said, before buying a condo or a chalet at the bottom of the slopes, it is better to know the state of the mountain and its facilities. Ski resorts that invest in their infrastructure such as ski lifts or artificial snowmaking add value to the real estate market.
The advantages and disadvantages of buying near the mountain
A property close to the slopes is usually popular with many buyers, with supply being very limited due to the uncommon location. Regardless of the economic situation, resort properties have that added value that will always be sought after.
Buying at the bottom of the slopes has some drawbacks, however, such as an inflated price due to the slope premium. Even if this is less important than a few years ago, it is still present on the real estate market. Moreover, a home located in a resort area can cost between 15% and 25% more than a property located away from it. Also, you may have to wait a little longer to find a buyer who is willing to invest more when it comes time to sell.
An environment to discover in summer and winter
If the proximity of the ski slopes remains a major attraction in winter, the hiking or mountain biking trails and the lakes become very interesting during the other periods of the year. To lead an active life close to nature, get out of the work routine, take time for yourself and even plan a retirement in kind, it's a safe bet[8].
How to manage short-term rental?
By renting your condo or chalet, you can amortize part of the costs in order to make your investment more profitable.
There are two ways to arrange your rental[9]:
1. Do business with a rental management agency that can manage the rental of your property
2. Manage the rental yourself with other individuals from portals such as chaletsauquebec.com , or airbnb