Buying property in Mt Buller? YES/NO

wolly

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May 29, 2002
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buy off the hill ,there are some great little houses only a few minutes from the toll gate,
use them when you want and rent them for the rest of the year
 
not sure how you can really get that from RE.com.au I don't think anything is actually selling and most things seem to be priced where they were at the end of 2007 i.e where they prob should be or maybe still a little high in some instances. I think people initially priced up about 10% towards the end of last year due to the good season and then when things got nasty they are getting more realistic.

For instance, someone was talking about a 2br in Molonys being for sale at $480 and now back to low 400's I think. The last sale of a 2br in Molonys was about $430K just before the 2007 season ( next door to the one for sale I believe ) so $480 was always pretty unrealistic anyway.

There are certainly going to be a few bargains around over the next year, but looking at RE.com.au there's not a lot there that really jumps out, except a 2br in TT for $320K - pretty good value but no carpark which is prob worth close to $40/50 K now days.
 

Snorkler

Part of the Furniture
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They're obviously still too high in price if they are not selling. It's not a case of being where they should de, if they're not selling, the prices are not where they should be to effect a sale. The value of a property is only what a willing buyer and seller can agree upon, therefore at the moment it is clear that the value is not there.
 
but if there's no buyers, it really doesn't matter what the price. From what I'm aware of pretty much nothing has sold since the middle of last year, regardless of pricing ( unless it's been an absolute fire sale ) At this stage it seems there are people who want to sell, but not at just any price.

As the pressure on forced sales becomes greater and the prices are forced downwards, then maybe a few people will think the bargains are just too good and step in. We'll have to see how it plays out over the next 12 months.
 

tbnext

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Mar 3, 2008
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Started skiing as a poor student, car, tent caravan.

Moved up to off-snow Station type joints.

Moved on to v v nice properties sleeping 10-20. Then everyone got difficult, had babies moved on whatever.

Did a couple years of renting on snow bedsits/hotels etc-choked at the continually exxy prices.

Bought a Thredbo lodge membership, cost me round $18K but I can sell that bit. Get 35 (winter) fully catered (bfast and dinner) bed nights per year for around $70 per head. Lots of space, most of them are OK (some are NOT). This is totally working for me, I dont have kids but if I did I think it would be even better, "eat your chicken nuggets that i DID NOT HAVE TO COOK"

Bus stops out the front, ski room etc, yep there is lodge politics but that will give you the best laugh of the year.

I recommend a family friendly lodge first, if that doesnt work then buy the insular property.
 
Hey tbnext - that's exactly the way we did it. We're just the next step ahead. Once you get the 3 kids and you want to ski every weekend ( and it's achievable ) then it's nice to have your own place in the village. It took us 20 years to achieve that dream and I'd sell everything else I own before I sold my flat at Buller.

Good seasons and bad seasons , we love the place.

I think a Lodge membership is the way to start.
 

FixedGrip

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ive somewhat fallen in love with the lodge weve stayed at the past couple seasons....

itching to join, but the only setback for me is it isnt open through summer, and id be up there regularly for MTB riding

humph
 
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mx - where do you stay at Buller?

You should have a look at Merrijig Ski Club. We were members there for years. It's fantastic. A little way out of the Village when you've got 3 little tikes, but all meals cooked ( and the food is some of the best on the mountain), good facilities, quite a few younger members now and they are open in Summer ( on a self catered basis )

I thibk you can buy a share there for around the $10K mark, depending on supply/demand and the nightly rates are very reasonable for members - similar to what tbnext quoted above last time I checked.

Merrijig Ski Club

I'm meeting a mate of mine this morning to discuss purchasing property at Buller. He's been itching to for a couple of years, but I reckon he might do OK at the moment.
 
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mate - this guy is looking at 3-4 br, carpark, etc. I'm going up with him next Friday to drop off some stuff at our place and check out some places for him. He's cashed up and can afford to spend. Interestingly, when you look at places in good locations, with 3 br and carpark, there are only a handful actually listed.

I notice there is a place in Alto (504) - that's not RM's place is it? I was going to email him about Body Corp costs etc for my mate

I'm not interested in doing refurbs up there - I just want to go there for fun.

You back to Hotham again this year?

How was SP?
 

FixedGrip

Kick-Ass Blaster
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LTB...have stayed at ski club vic past few yrs now

thanks for the merrijig tip mate, will definitely look into it. im increasing my days on the hill each year, so club membership is the logical next step...
 

Seth

I am figure skating
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wolly said:
buy off the hill ,there are some great little houses only a few minutes from the toll gate,
use them when you want and rent them for the rest of the year

It really isn't the same thing though is it?

Finish the day by heading down Bourke St, cutting through the magic forest, unclick out of your bindings and then being home or get Horse Hill to the day carpark and then join the queue to get down the mountain.
 
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Gummy Knee

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luvthabumps said:
mate - this guy is looking at 3-4 br, carpark, etc. I'm going up with him next Friday to drop off some stuff at our place and check out some places for him. He's cashed up and can afford to spend. Interestingly, when you look at places in good locations, with 3 br and carpark, there are only a handful actually listed.

I notice there is a place in Alto (504) - that's not RM's place is it? I was going to email him about Body Corp costs etc for my mate

I'm not interested in doing refurbs up there - I just want to go there for fun.

You back to Hotham again this year?

How was SP?


I mentioned in case you know anybody. My place is for season rental as well! Yup we are definatley back to Hotham.. SP was great.. good camp! we loved our Weekend at SS too but for me Blue River was the best experience
smile.gif


As far as I know RM isn't selling his but he will certainly know about the ourgoings.. I do know there is one for sale or season rental at The Peak though!
 
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lindon

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Mar 12, 2009
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Am absolutely new to this so suspect this is not the right forum. However we have been Mt Buller devotees for many years and members of a fully catered lodge. Lots of faciilities and can leave gear there etc. However, skiing days seem to be behind us as we head into middle age so wondering if anyone can point me to a site where I can advertise the membership for sale?
Thanks!
 

atlas shrugged

Hard Yards
Jul 30, 2008
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Coxy,
As always, plenty of advice and plenty of thread-drift.

We have owned a couple of properties at Buller over the years.

The following may not apply to you, but is food for further thought:

Skiing is one of a limited number of sports a whole family can do together, for all or part of a day. We too had/have a young family. In our case, privacy and ease-of use were primary concerns, thus we have always owned private flats/apartments, and not leased them out or used them for tax benefits/negative gearing.

Of key importance is to recognise that these are LIFESTYLE and not INVESTMENT decisions. The costs of maintenance, bed taxes (don't start me) etc are high enough, and as we now know, property (nor any other investment) is not guaranteed to always appreciate.

It's true that it's a good time to buy - all the paper-rich non-contributors to society are being called to account at long last, and will be offloading 'assets' like there's no tomorrow.

My advice - if you love skiing, enjoy family time, and can afford it - any move like this will reward you.

Lodges are a more economical option, but you sacrifice a certain degree of solitude. That suits some people better - I'm not especially social.

But you can't beat having your own undies in the drawer when you need them!!

Cheers

BTW - it's easy to make comments about Buller being unreliable, as some twat did in an earlier post. ALL Oz resorts are marginal, ALL have good/bad days/weeks. Make your choice for other reasons.
 

wolly

One of Us
May 29, 2002
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Seth Finish the day by heading down Bourke St said:
yes home , a room with 4/6 beds where 1 person has to stand up at a time or else there is a traffic jam

or off mountain a whole house to your self , even a bedroom to your self and you do not to share a bathroom with 12 of your new best friends.. some even have spas!

by the way the magic forest is for kids!
 

Seth

I am figure skating
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I know what the magic forest is for, but i still need to cut through it to get home.

Not sure why you are comparing lodge style accom to buying a house in Sawmill. I was talking about the fact that owning a place on the mountain (apartment) is a very different experience to having a place in Sawmill.

I've lived in Sawmill for a season. It is a nice enough place and I can see the attraction of it, however the line between serenity and boredom can sometimes be quite thin.

You can't compare the experience of having an apartment to owning a place in Sawmill. they are just too different and there is nothing like getting home at the end of the day, cracking a cold one and looking out onto the bluff for sunset.
 

clanhoondog1

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Seth said:
I've lived in Sawmill for a season. It is a nice enough place and I can see the attraction of it, however the line between serenity and boredom can sometimes be quite thin.

.
Hey I dont know where you go in Sawmill but bordem in winter,I dont think so.The Bluff may be nice but a golden sunset down the valley onto pincle also is a treat and we even have beer as well. Sorry seth im a sawmill convert.

There are benefits for both areas on the hill and down the hill.They offer different skiing and entertainment experinces.

Hoondog
 
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Seth

I am figure skating
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Sawmill isn't exactly 'going off' with choices for non home based entertainment. There is that ONE place near Alpine Ridge Road (I think that is the name). If you are up in the area near Koala Lodge (Warrambat/Howqua Road) then it is a ghost town.
 

Petesguitar1

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Aug 10, 2008
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This Hunt Club, does it serve cold beer? hpw far is "just down the road?". It is my only complaint (be it a tiny one) that if I want to go and pay more for a beer I don't have many choices in Sawmill.
 

WIZO

First Runs
Feb 25, 2008
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Mt. Brawler, it's better
of topic sorta, but the ratepayers agm is 13/5/09 at 8pm in sth Yarra. Not a bad place to speak to other owners and Phil Nunn about buying, or not, on buller.

Sawmill area is full of termites.
 

Coxy

First Runs
Jan 16, 2009
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Perth, WA
Last time i checked my original post there was 5 replys!! HOLY SH*T!!
4 pages of great advice, well maybe 2.5pages of great advice and the others well, lets just say, average...so i dont offend;)

Thanks to everyone who gave their POV and account of their experience, i can make a better decision thanks to you all, much appreciated.

I think a lodge is the way to go for starters and being from WA may be our best option .....for now.

Superstars the lot of ya!!
Cheers

PS in a bit of a twist we may be trying to come over for the entire season for a break. It worthy of a new thread and could be as long as this one once it gets going...stay tuned for the link
 

djam

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Places selling in weeks here now, at very elevated prices over two years back pricing.

The new Snowgums (SCV) development is well over subscribed and yet not built yet. All the Whitehorse blocks (not very big, roadside parking) selling for huge bikkies and for just the block, on a steep site with trees that you have to build over (Stilts).

And about time, the prices didn't move much for the best part of 10 years.
 

CarveMan

I Never Slice
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Places selling in weeks here now, at very elevated prices over two years back pricing.

The new Snowgums (SCV) development is well over subscribed and yet not built yet. All the Whitehorse blocks (not very big, roadside parking) selling for huge bikkies and for just the block, on a steep site with trees that you have to build over (Stilts).

And about time, the prices didn't move much for the best part of 10 years.
I've made many posts on this forum about not expecting capital gain at Mt Buller yet I bought a place in 2017 and it's gone up at least 60% in 4 years.
 
I've made many posts on this forum about not expecting capital gain at Mt Buller yet I bought a place in 2017 and it's gone up at least 60% in 4 years.
yes, after many stagnant years I estimate the value of our place would have doubled now, plus we made some really good coin during the 10 years that we rented it out. I would rate it as a pretty reasonable investment financially but the lifestyle investment is priceless
 

snowgum

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the insurance sure has.
My understanding is that the rises insurance costs are (understandably) mainly due to rapidly heightened bushfire risk and acknowledgement thereof.

Worryingly, cost and availability is threatening the viability of lodge-style structures across the resorts. And with Covid effects, costs aren’t looking brilliant going forward.

This doesn’t bode well for affordable mountain living to me - as much as it appeals as I get older? :rolleyes:
 

djam

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yep, the fires in the recent years have been the underlining reason of the increase, even if there have been no claims at Buller. Water damage is by far the biggest real claims in the village, miilions and the terms have extra conditions re water. Like turning the water off when the property is empty for extended periods (like > 6 weeks).
 
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snowgum

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yep, the fires in the recent years have been the underlining reason of the increase, even if there have been no claims at Buller. Water damage is by far the biggest real claims in the village, miilions and the terms have extra conditions re water. Like turning the water off when the property is empty for extended periods (like > 6 weeks).
I didn’t know about that one. Makes sense.

Ive learnt through our club, building exteriors age rapidly in the Alps. Somewhat similar to ocean properties, without the salt.

Something the smaller, older club lodges will/ have been grappling with. It’s not all glamour staying on the Mount?
 

Whatever really

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As a builder I travel through the village and I am horrified at the material and construction styles chosen even on new buildings.
The alpine areas in Australia are hugely different to Northern Hemisphere.
The maintenance work due on some of these buildings in the years ahead is horrifying.
I’m still considering buying something up there in the coming years though.
 

travelislife

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As a builder I travel through the village and I am horrified at the material and construction styles chosen even on new buildings.
The alpine areas in Australia are hugely different to Northern Hemisphere.
The maintenance work due on some of these buildings in the years ahead is horrifying.
I’m still considering buying something up there in the coming years though.
Have a read of the planning scheme for somewhere like mount Buller. It is pretty stringent on ‘style’ and materials and doesn’t give Architects a lot of scope. It’s nearly as strict as a new development estate.
 

djam

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hang around here long enough and you find out they all leak, both water and not air tight :mad: hey it gives me a challenge. And I thought I had another one fixed over summer, only to find under some set of conditions it will still dribble. :mad::mad:

The roof is getting tested again tonight :(
 
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