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Discussion in 'Snow Talk' started by SkiandRideGuide, Jan 14, 2012.
If you stopped going there on holiday then you could afford it...................................
Noticed the Jindy market has really been moving since last August. Soon as something nice comes on the market, they have sold within a week. Actually marries up with the slow down in Sydney since last August and kissing it's crazy prices goodbye. Looks like people still want to plant their money into property with such bad interest rates and crazy stock market and are now going into rural and lifestyle property investment.
I thought about investing in a lifestyle, but then I thought, bugger that, and just live one instead.
You have adult children, no?
well I had to go a few times to see if I liked it.
If you go for a month, you are handing over around $8k in accommodation, so I'd rather put that $8k into my own property
Of course, plans are currently on hold until I find meself another job
Using your own money or the banks, if you have lots of spare cash ,it makes perfect sense.
If you are borrowing it all from the bank it can be fraught with danger ,as well as dealing with the possibility of rising interest rates you have to also deal with any movements in currency exchange and a bank that will give you the money.
The exchange rates are not really a big risk if you are looking to rent it out, as your income is also in that currency
My oldies went to Sun Peaks. They loved it and call it gods waiting room. Buzzkill right there.
you could go the self managed super option
There was a auction of an apartment in Jindy last week??, which is rather unusual,not sure if it sold or was passed in, the ad said it was a "motivated buyer" , not sure if it was a bank or just an enthusiastic real estate agent.
Greek islands is cheap...........short flight.
Motivated buyer of motivated seller?
Too many immigrants as it is.
We are seriously thinking of moving and buying in NZ.
Maybe in the Cantebury, Selwyn district
Close to Christchurch, skiing @ Mt Hutt, Broken River , Cragieburn etc, bouldering @ Castle Hill, climbing in the Alps, MTB blah, blah.
Real estate is v affordable.
probably more snow than Thredbo too
.....what was that darl.....oh, just another earthquake sweet chops.
Bloody blow in's................wreck it for everyone.
Probably the bank. Jindy has always been party animal territory, avoid it unless your young or a middle aged bogan. Its a shame as its actually a beautiful spot.
It's great for the other 8 months minus Easter.
Well ---- out the window goes your invite for a free sofa to crash on and some great skiing
but...but...but. Seriously, Christchurch freaked me out. It is the hot zone for it.
well that's weird. I didnt see any churches while I was there
And it just looks like I am having a lifestyle, I am actually always working. Except when I am skiing, but its only a matter of time. Its a working lifestyle, or a lifestyle that works, I forget.
Investing in a lifestyle just sounds funny, but it does pay dividends!
Another Jindy property I looked at in 2001 was Valema Lodge , an older place , very basic but sound , it was 3 units
a 2 bed, 1 bed & bed sitter $210k at the time, I could see about $30k needing thrown at it for maintenance.
maybe $600k now?
It was showing reasonable return for season / long term rental, local agents said it was too dated for holiday rental.
You gotta think today. The new accommodation industry boosters are the Indians, Chinese, Koreans, Thai's....they stay at all of these places. They love a bargain.
Im sure its lovely. Give it another 20yrs and I'll find out for myself.
Those big mountains came from somewhere!
Maybe a bit of fracking around the Snowy's will make it seismically active and give a bit of uplift!
Well...apart from the season workers and a handful of lucky/clever/resourceful people it's usually only retirees that can afford to up sticks to their favourite international ski destination.
I've been looking from afar but it's really just the same few dated crappy apartments listed for months and months - I had the impression not much was selling. Perhaps I need to look harder!
Mama, quite a few in the last 2 months didn't even hit the internet listings! 2 particular ones in the same complex sold within 4 to 6 days from walk-ins to the assigned agencies in town. Remember too, a lot of locals are buying as well!
Mad if they don't with interest rates so low. Pay it down FAST. Winning.
Its all about making good life choices
Its just about making good life choices
For it to really work you need to live reasonably close by, or planning on spending large chunks of the season there.
Travelling half way around the world sounds very romantic but unless you plan to use it long term or for many short breaks its going to be a very expensive holiday.
Japan is very doable , but the others probably not.
If you are the sort of person that likes to spend a few months of the season skiing there and are committed to one particular area it can work .
Not all partners want to spend every single holiday in the same place doing the same thing,every year.
Another big issue is actually finding an employer that will give you additional time of(unpaid leave) when you want it .
Short term holiday lets can be quite unreliable at times , and dont just go on what the the selling agent/managing agent/snake oil salesman tells you, even if the previous owner got decent returns ,they may have done extra marketing themselves within their local area/city . If there are any large shortfalls it comes out of your pocket, which can work out very expensive if your using the banks money and exposed to currency fluctuations.
Holiday houses my friends have have had that effect, pretty much any holiday is spent there. I could live with that, I already head for the hills every chance I get.
You have some valid points however it still doesn't change the fact you're paying up to 3x more for a property here. Then you have national park fees, rates, parking permits, over snow at some places, more expensive lift tickets ( now $120 per day )and the snow surety isn't there. The cost of a weeks holiday in Thredbo could pay my rates for 5 years, and you're still not guaranteed to see a single flake of snow for that.
Property in Syria would have to be a bargain!
A year 'round pass at Thredbo, including skiing, MTB, pool and gym, and daily summer access to tennis and golf is $799.
You'd pay more for a place here, but you'd use it. Well, I'd use it.
I guess it depends. A value for me skiing and riding here is the capacity to do that with friends, at short notice, and with family, easily changeable dates and reacting to conditions or family, work and life events.
Bamyan is about to explode, get in quick!
More like "looking for a keen & uneducated gumby to buy this joint"
I'm not questioning the value of a season pass, anyone can access that. If you live locally or within a few hours drive I can see the value in it. I wouldn't want to be tied down to it as an investment though, especially if it compromises your chance to travel O/S.
When my oldies had a place at falls we never went anywhere else, but that was fine because we were kids. We certainly couldn't afford to go O/S but once we sold it that albatross was removed.
If Bill Shorten gets his way he may well drive down property prices ,which I am sure will bring a smile to many that ski in Australia, but yes I agree with you about the price of property in Australia.
Thredbo is seriously way overpriced .
We have a apartment in Jindabyne that we picked up in the aftermath of the GFC, and at "market price" we would have never even considered it, we were originally looking at a 1 bed(studio apart????) for around 90-120k, we even looked at a few 2 bedroom apartments in Berridale for around the 100 -115k price, and studio apartments at Horizons we selling for around 90k.
We considered overseas options ,mainly back in France where I worked in the early 90's and I had a really good knowledge of the different French ski resorts and towns ,Apartments were within our price range, but the distance was just to great and to many other distractions, as my wife had never really spent any time there(Europe).
N.Z was still overpriced and no where near our budget, many apartments had management rights with only limited use by the owners and we had already been to Japan a few times but were very unfamiliar with practices regarding real estate purchases and we could not even look inside properties that interested us around the Hukaba region , that deeply worried us .The main issue for Japan was that I did not have full working rights, unlike Aust,N.Z and France and the intention was always to go back at some stage for the whole season and maybe even pick up weekend work during the peak season and ski mon-fri.
In the end the wife fell in love with Jindabyne, so the decision became a bit simpler.
If you have a bucketload of money and can gets lots of extra time of work then it makes sense but it has to be a long term plan, its no use spending all that money then in 4 or 5 years time ,new work commitments,family life or a new partner made it impossible to spend heaps of time there.
Dat sentence length :S
One can always buy "cheaper" overseas ..... which is the easy bit.
Bailing out has never looked this attractive ......
Apparently the snow property market is "surging", with a 3 br duplex in Crackenback Drive a steal at $1.495m.
They sold 40 acres just behind town for over $500k recently. It did have Mowamba river frontage but ....
Does anyone have any experience or knowledge of going it alone with regard to Thredbo ownership and management? I imagine the model looks something like this:
- advertise via Airbnb, Bookings, Stayz, etc
- engage local cleaning company to do clean and linens
- engage local independent manager to do keys and casual maintenance, maybe someone out of Jindy
- do 'the rest' yourself
There are people doing it. Probably varying from renting to friends and using themselves, to full blown operations with in house concierge etc. You could have a chat with Angel at Executive Housekeeping and Concierge Services, he might not be what you are looking for, but he would know all the setups.
I have absolutely no desire to sit on a beach for 6mths!
May parents are the same. They retired to jindy and mums healthy has increased 10 fold!
Not everyone needs 4 seasons a year! (Or 2)
We at most I would just spend a week in Hawaii between translations from nth to sth.