A property in the mountains: an irresistable purchase
Wanting to purchase a new home in the mountains with the prospect of snow every year? But how do you know which resort? And how to invest? Should you consider a tourist residence?
Owning a picturesque chalet in the mountains is a dream shared by all winter sports enthusiasts wanting to indulge their passions throughout the season. Unlike other real-estate investments, statistics have shown that buying a property in the mountains is more of an irresistible purchase and yet, it is still a wise investment.
Where to invest
As with every property investment, location is a crucial factor that should be prioritised. With this in mind, it is essential to choose a lodging that is easily accessible via transport links and within close proximity to the slopes.
In order to fully profit from your investment and minimise the risk of vacant housing, it is important to consider what there is to do in the area. For instance, the presence of shops, restaurants, bars and nightclubs or other services such as swimming pools, spa, gym, child-friendly areas nearby will play a role in increasing the attractiveness of your property by offering visitors more to do.
It is equally important to consider the altitude of your mountain property. In recent years there has been little snow, therefore you would be more likely to yield a profit on your investment if the altitude is higher as snow is assured. A higher altitude also allows for a prolonged winter season.
Reports have shown that the resorts with a higher altitude are those with the highest reservation rates, whilst those with a lower altitude tend to free up earlier. Finally, the presence of other services such as swimming pools, spa, gym, activities/areas for kids, nightclubs plays a role in the popularity of your property.
Nowadays, vacationers expect an offer that exceeds the typical ‘ski holiday’ package e.g. winter sports.
A second home or a tourist residence?
In the context of purchasing a property in the mountains, it is possible to invest directly in a second home but equally in a tourist residence.
This way of investment in a tourist residence presents advantages (significant ones) such as being able to stay in your property for a duration of one to three weeks per year.
For the rest of the time, a manager will be in charge of rent for the account of the owner.
The profit depends on the number of weeks the property is occupied by its owner, it varies between 1.5% and 4%. During this choice, the decision of the manager is also determined. The mind-set and financial solidity of your chosen manager should be taken into careful consideration as it is these qualities that will turn your investment into a profitable one.
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