Advice needed Buying Property In Thredbo

Discussion in 'Thredbo' started by Harry James, May 21, 2018.

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Have you purchased property in Thredbo

Poll closed Jun 4, 2018.
  1. Yes, it's worth it

    4 vote(s)
    57.1%
  2. Yes, don't do it.

    3 vote(s)
    42.9%
  1. zac150

    zac150 One of Us
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    @Arne point is very fair, if you are buying as an investment, yes they can be good investments. If you are buying for lifestyle, they are awesome as well and the capital growth can be good.

    But to try and get both out of the property is tricky.
     
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  2. skull

    skull One of Us

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    how cramped is it with the family?

    I am considering a 1 bedder but also have 2 children in the mix. So would need a sofa bed and fold away too
     
  3. Snow Blowey

    Snow Blowey Old n' Crusty
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    Less cramped than the tent. Car will be less cramped without all that camping gear!
     
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  4. skull

    skull One of Us

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    Definitely.

    Need a few more years of camping before I’ll commit to a property though.
     
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  5. gareth_oau

    gareth_oau Pool Room
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    Get one with a garage:D
     
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  6. Harry James

    Harry James Early Days
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    Looking at two or three at this stage
     
  7. Harry James

    Harry James Early Days
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    Say What? What is this about a lease. Can you not just buy this outright?
     
  8. climberman

    climberman CloudRide1000 Legend
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    Thredbo has a setup where the Company has a head lease for the site with the government. It was for two fifty year terms. There is forty or so left to run in the second term.
    All units etc are sub-let from the Company.
    Ask any of the local RE’s for a copy of the lease agreement.
     
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  9. Harry James

    Harry James Early Days
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    probably the best advice I got
     
  10. Harry James

    Harry James Early Days
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    what a head ****. Just when you thought NSW could not get any more stupid with real estate.
     
  11. Legs Akimbo

    Legs Akimbo Grumblebum
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    Canberra is almost all leasehold. London is mostly leasehold. It is a perfectly normal way of holding property.
     
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  12. climberman

    climberman CloudRide1000 Legend
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    Its weird, but it’s how it is.

    If you want a place to enjoy, just get it to enjoy.
     
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  13. Arne

    Arne One of Us

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    I only have one child so a fold out sofa works for me. With two kids you need a second bedroom. I go solo or with a buddy maybe 15 times a year so a fold out sofa works.
     
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  14. zac150

    zac150 One of Us
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    The lease hold system has its place and is really not that weird when you understand why.

    Using a leasehold system in the ACT was set up to stop property speculation stunting growth i.e having a lease system provided powers to the government in terms of reclaiming land etc; although this proved interesting recently when farm land was brought in the weston creek area. The idea was that as the city grew they did not want speculators buying up large parcels of land to stunt growth.

    I have never had to research the Thredbo Lease system in terms of why, but I imagine the rationale is based on a similar theory i.e control. The lease allows the lease holder to control what is happening in the village in terms of development and ensure that individual owners do not undertake something that could effect the whole head lease.

    That said the banks understand the lease system especially the majors.
     
  15. skinavy

    skinavy One of Us

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    Thredbo (like the other NSW resorts) is inside a national park and thus the rules are different. However even between Perisher and Thredbo it is different. Thredbo is a headlease by KT and everyone else sub-leases. Perisher Valley is separate leases between each site and NPWS.
     
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  16. zac150

    zac150 One of Us
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    Not sure I understand your point. Yes there are various lease systems in place for “snow leases” and these also vary from other property lease arrangements. My point was that I have never researched why the government of the time selected the lease system over other options, yes it is a national park, but the boundary could have been shifted and the land sold free hold.

    Understanding why the lease system was put in place often gives you an understanding of the lease system and power various people hold.
     
  17. Legs Akimbo

    Legs Akimbo Grumblebum
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    It may just be laziness. If you want to dispose of land as freehold you have to do a subdivision so each parcel transferred is a separate parcel with its own title document. With a lease it is possible to dispose of parts of a whole lot. Perisher is not subdivided and I don't think Thredbo is either. I know the founders of a lodge I'm associated with in Perisher were told by the (then) Park Trust to choose a spot and start building. The surveys and other documentation were done after the building was well underway, if not complete.
     
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  18. zac150

    zac150 One of Us
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    Out of curiosity I did a bit of digging today and apparently the initial lease was only 5 years and their was an expectation of certain buildings being completed in that time period.
     
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  19. Telemark Phat

    Telemark Phat Pass the butter
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    At Perisher there is a separate lot for each lease. What is it since its not a subdivision?

     
  20. Snow Blowey

    Snow Blowey Old n' Crusty
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    A cluster****.
     
  21. Legs Akimbo

    Legs Akimbo Grumblebum
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    I don't think they are separate titles.
     
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  22. sastrugi

    sastrugi Part of the Furniture
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    Do Perisher hold the lease on the ski tube and the shopping centre?
     
  23. Legs Akimbo

    Legs Akimbo Grumblebum
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    Yes.
     
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  24. Red_switch

    Red_switch Old n' Crusty
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    If it's anything like NZ they will be separate parcels under one, or a few, titles? We have stratified parcels too, primary parcels and secondary parcels. Secondary parcels are often used to define things around rights to occupy/use. Sometimes they may be limited to the extent of the building/structure footprint - this is common on conservation land.

    Cadastral systems are simultaneously stupendously boring and quite fascinating.
     
  25. Legs Akimbo

    Legs Akimbo Grumblebum
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    If you look at the deposited plan numbers several, apparently separate, parcels are the same DP. There are lift footprints and lodges with the same DP number. Some government surveyor has drawn lines on a map to define where things are, but that is as far as it has gone. In fact, for a lot of Crown land, there is no title deed so there may not even be a title covering the whole area.
     
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  26. Red_switch

    Red_switch Old n' Crusty
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    Oh, the joys this created for central and local government "owned" land here in NZ when our emissions trading scheme came into effect...
     
  27. Jacko4650

    Jacko4650 One of Us
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    Intrigued. I have been watching the High Noon Cam at night (every now and again) and can't help but be impressed with the number of lights on at the village at night. It has been pre-ski season and post-mountain bike season so intrigued as to why the village seems to be so highly occupied?
     
  28. Billy_Buttons

    Billy_Buttons A Local
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    People/owners live in every lodge all year round.
     
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  29. Arne

    Arne One of Us

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    Most of the lights are street lights. They have been updated over the last year or so by KT.
    Only one light on in our building tonight. And easy over 75% of buildings nothing except the green glow of exit signs internally.
    This time next week however...
     
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  30. Billy_Buttons

    Billy_Buttons A Local
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    My point was that the village has many permanent residents and lodge managers 365 days and the hotel is always a christmas tree. Private apartments owned by bankers will probably have lights out permanently, shortly. LOL
     
  31. skull

    skull One of Us

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    I thought the lease didn't allow permanent residency?
     
  32. skull

    skull One of Us

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    or not, they earn easily several hundreds of thousands a year. Unless they are running on pure credit there would still be enough of a lifeline for them to retain.

    I would only hope for a fire sale.
     
  33. Billy_Buttons

    Billy_Buttons A Local
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    LOL
     
  34. Billy_Buttons

    Billy_Buttons A Local
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    Thredbo is in a permanent fire sale.
     
  35. skull

    skull One of Us

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    well it is still too rich for this black duck
     
  36. Jellybeans1000

    Jellybeans1000 Walking on a dream
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    I don't think it does, people just bend the rules to their liking.
     
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  37. Billy_Buttons

    Billy_Buttons A Local
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    Just look at the lights-on in the out of MTB/Snow months for proof!
     
  38. cin

    cin Old n' Crusty
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    Cbus holiday mode
    gotta fool those burglars!
     
  39. Billy_Buttons

    Billy_Buttons A Local
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    Nope.
     
  40. climberman

    climberman CloudRide1000 Legend
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    I wish.
     
  41. zac150

    zac150 One of Us
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    Yeah which is why units have tripled in price in the last 15 years.
     
  42. Arne

    Arne One of Us

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    Depends. Not sure about tripled. In centre of the village maybe 5% a year.
    In a mates building prices are the same as ten years ago when he bought.
    Some are over priced.
    Some aren't worth what they're asking.
     
  43. Arne

    Arne One of Us

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    And I am no banker.
    Not necessarily. I am a labourer and cut grass for a living. I don't earn a massive income. One neighbour is a local farmer another a plumber from the southern highlands.
    It just depends what you want in life...
     
  44. climberman

    climberman CloudRide1000 Legend
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    This be true!
     
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  45. climberman

    climberman CloudRide1000 Legend
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    Good stuff!

    It’s a funny little market that’s for sure.
     
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  46. zac150

    zac150 One of Us
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    I based my triple on what we paid and what they are selling similar units in our building for.

    Yeah some areas will out perform others.
     
    #96 zac150, Jun 2, 2018
    Last edited: Jun 2, 2018
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  47. zac150

    zac150 One of Us
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    Caveat I may be a banker but I got out of that fat cat scene years ago!
     
  48. sastrugi

    sastrugi Part of the Furniture
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    Of course it does, the permanent population always sits around 400. Some people have lived there in their own homes for decades.
     
  49. zac150

    zac150 One of Us
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    This whole argument is a tad misleading, yeah there is a permanent population made up by people who work in the village but not all of these people own the property they live in be it lodges or bed sits.

    Yep their are some well known locals who own property and live in the village, most work for kt yep their are some who don’t.

    Kt do encourage the rules to an extent as there business is dependent on the accommodation being available. But equally the business requires permanent staff being on hand. I recall something in the lease that mentioned permanent residency was frowned upon but I don’t think there is a process to enforce the lease rules I.e I have two friends who own their properties and do not rent them out but they always have friends visit (funny that).

    I always understood the situation to be that their are certain areas like wood ridge 2 that are less of an issue.
     
  50. currawong

    currawong Old but not so Crusty
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    FIFY