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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. linked_recoveries

    linked_recoveries One of Us

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    Doesn't look that appealing when you're standing next to it. The thing has pushed out to within a few mm of the road. Yes, it had scaffolding on it, but I doubt the balconies will be set that far back from the garage entrance (which is effectively the road). It's a shame really. Virtually the whole of Thredbo is set back a respectable distance from the road, whereas Bellevarde will turn that part of Bela's Corner into a canyon. Hope that trend doesn't continue.
     
    NewTurns likes this.
  2. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    Before I met you we lived both in front of and behind that block for many years, the only parts of the village we ever lived in. It has unfortunately been raped to within mm of its borders. Hopefully not a sign of things to come in Thredbo. I'm surprised Bellevarde themselves went this far for a buck. Retirement is drawing nearer I guess :(
     
  3. Telemark Phat

    Telemark Phat Pass the butter Ski Pass: Gold

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    I'm a member at Pindari, I'll have to go for a drive through the village, where is it in relation to Pindari?
     
  4. climberman

    climberman CloudRide1000 Legend Ski Pass: Gold

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    You won’t miss it!
     
  5. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    Right next door on the other side of Winterhaus stairs. And say g'day to Ant from me if he's not on the farm :)
     
  6. shabu_shabu

    shabu_shabu One of Us Ski Pass: Gold

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    gareth_oau, piolet and sastrugi like this.
  7. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    That's the one that had the robbery I mentioned a while ago after the last time it sold. Truck backed up and took all the BOSE system, all the SPACE furniture etc. Everyone thought it was the removalists and didn't bat an eyelid :eek:
    Gorgeous place, I was lucky to go through it as +1 was doing some work on it before the soft furnishings went in, early 2000s.
     
  8. piolet

    piolet Better make it three Ski Pass: Gold

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    I can picture the glorious shit posting that would go on from that throne
     
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  9. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    $4M shows the current market value... it was a $4M build in the early 2000s. And the architect built it, so that was not counting architect fees!
     
  10. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    I'll never forget the day we ducked some ropes at the bottom of Funnel Web and almost ended up in the bedroom which had been built right in the middle of the old ski out. Norbury came charging out in his long johns screaming at us, "how many ropes did you duck to get down here"? We just looked at him, bewildered and replied "2. Why'd you build your house in the middle of the ski run we've been skiing for years"? He actually dropped the "I'm a local" line on us which just made us laugh as we'd never seen him down at the post office collecting his mail in the middle of summer :whistle:LOL
     
  11. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    Even though it's close to 15 years old, it's still the cream of the crop in Thredbo, an absolutely premier property. Norbury even paid for the road to have underfloor heating so he could drive up to it year round (the road, not just his driveway). Sorry, I'll shut up now. But I do love this place :D
     
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  12. piolet

    piolet Better make it three Ski Pass: Gold

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    Well then I best be off to a newsagent to buy a lotto ticket before someone else snags this
     
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  13. skull

    skull One of Us Ski Pass: Silver

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    too late, I already snagged the winning ticket.
     
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  14. chicski

    chicski A Local Ski Pass: Gold

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    Wrong.
     
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  15. piolet

    piolet Better make it three Ski Pass: Gold

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    Angling for an invite for when I win?

    Hmmm beers on the deck at 3
     
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  16. piolet

    piolet Better make it three Ski Pass: Gold

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    Hell Ill start my own brewery for beers on the deck at 3 - the crackenback & sack of malt and hops brewing co, thredbo
     
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  17. chicski

    chicski A Local Ski Pass: Gold

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    With $70 million tonight, I reckon we could split it and still retire happy.
     
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  18. zac150

    zac150 One of Us Ski Pass: Gold

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    I like the look of the place but I hate the location. I stayed that end of the village once and never again! And that wasn’t even winter!

    I agree it’s different, architecture is awesome and the fact it’s stood the test of time is testimony to the design.
     
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  19. Myazma

    Myazma One of Us Ski Pass: Gold

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    The whole Crakenback ridge is on the wrong side of the valley, brrrrrr, lack of sun.
     
  20. zac150

    zac150 One of Us Ski Pass: Gold

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    I do like Woodbridge 2, sure it’s cold but kind of nice looking back at Thredbo Village which I like.
     
  21. Legs Akimbo

    Legs Akimbo Grumblebum Ski Pass: Gold

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    Location:
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    It is ski in/out, which is rare in Thredbo.
     
  22. zac150

    zac150 One of Us Ski Pass: Gold

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    true But I seriously can’t imagine walking up that hill on a cold night after a few schnapps at black bear. Would be a mission!
     
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  23. linked_recoveries

    linked_recoveries One of Us

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    Ha ha ha ha.
     
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  24. Myazma

    Myazma One of Us Ski Pass: Gold

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    The roundabout up there does have the shortest walk from ST to bus back to Fridays. Very rarely are those places ski in ski out
     
  25. chicski

    chicski A Local Ski Pass: Gold

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    So I won lotto last night. Unfortunately not enough to even buy a NPWS day pass let alone a ski chalet :(
     
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  26. linked_recoveries

    linked_recoveries One of Us

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    Given all that floor-to-ceiling glass I guess it's lucky they didn't place the dunny in the middle of the Funnelweb run out.
     
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  27. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    Be thankful you're not a Buller skier. 4-month season pass for the car is $500 (KNP is $320 for 2 full years)
     
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  28. chicski

    chicski A Local Ski Pass: Gold

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    From my limited exposure to Buller, I’m just glad.
     
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  29. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    I've had some great skiing at Buller, lots of treed powder. I'd like to be able to explore it more but even though I can see it from my orchard, we just haven't been able to utilise the time/geography and finances just yet.
     
  30. linked_recoveries

    linked_recoveries One of Us

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    Do you get snow in your orchard? Perhaps you could install a rope tow :D
     
  31. sastrugi

    sastrugi Beyond the yoga zone Ski Pass: Gold

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    It's a dream that I think won't ever eventuate. It did snow last year but didn't settle. We're at 480m but rest assured on the rare day it settles, we will be skiing it!!
     
  32. DPS Driver

    DPS Driver One of Us

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    We're situated in what's was once described to me by the local real estate agent as the western suburbs of Thredbo, up high Banjo drive next to Silver Brumby and I can tell you, IMO it's the best location in Thredbo. The afternoon sun is awesome, sitting up there with a drink after a days skiing can't be beaten. Walk down the Jack Adams steps and you're in the thick of it. The shuttle drops you off & picks you up 50mtrs from the driveway and we've got plenty of parking.
    So you can shove your $4-$5mil snow gun rattling sh!tbox where the sun don't shine, which is exactly where it is.:);)LOL
     
  33. benchives

    benchives Part of the Furniture Ski Pass: Gold

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    Yeh right 850 no worries

     
  34. telecrag

    telecrag Old n' Crusty Ski Pass: Gold

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    Solid investment right there! Hahaha, who would invest? Its all about rich people from Sydney.
     
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  35. climberman

    climberman CloudRide1000 Legend Ski Pass: Gold

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    Well, $830k!
     
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  36. linked_recoveries

    linked_recoveries One of Us

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    Ironmongie. That was listed pre-season with an asking price of $850k. It disappeared for the season. Now it's back at $829k.

    Prices are all yield-based. If you can secure $4k or 5k per week in the peak season it supports a high price as an investment property. $800k at a 4% gross yield would imply $32k of rental income per year. Then you start taking away your costs and outgoings. With interest on investment loans running around 4% that kind of hangs together, albeit I believe you need a chunky deposit on the property before a bank will lend you the freight for a Thredbo investment property.
     
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  37. climberman

    climberman CloudRide1000 Legend Ski Pass: Gold

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    I thought it looked alright!
    Four people sleeping, carparking, nice layout.
     
  38. telecrag

    telecrag Old n' Crusty Ski Pass: Gold

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    $5500 for 16 weeks by my reckoning.
     
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  39. telecrag

    telecrag Old n' Crusty Ski Pass: Gold

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    IMO its $200K overvalue. But that is normal.
     
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  40. LMB

    LMB Old but definitely not Crusty! Ski Pass: Gold

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    Wouldn’t buy it at half the price.
    That loft freaks me out! Can you imagine kids jumping on the bed and sailing over the rail!
     
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  41. climberman

    climberman CloudRide1000 Legend Ski Pass: Gold

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    Carpark alone is probably worth $50k

    What’s ‘worth’ and ‘value’ in a resort holiday market?
     
  42. benchives

    benchives Part of the Furniture Ski Pass: Gold

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    As soon as economy tanks and interest rates go up a bit the bank will recall loan and you lose everyone
     
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  43. zac150

    zac150 One of Us Ski Pass: Gold

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    except if the economy tanks rates won’t go up.....
     
  44. zac150

    zac150 One of Us Ski Pass: Gold

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    The issue with Thredbo is transferability, there just isnt the number of people who have the capital to pay the deposit.

    will be interesting to see the effect mountain biking has on the Market, summer bookings are up big time which will push prices further.
     
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  45. telecrag

    telecrag Old n' Crusty Ski Pass: Gold

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    Seems to me that many people in the area are trying to cash out, Cooma moreso, but Jindy and Berridale are also both way over valued atm.

    Bit of

    Tell em their dreemin.....going on, but dreams are coming true hey.
     
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  46. zac150

    zac150 One of Us Ski Pass: Gold

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    I think there are supply and demand issues going on and Jindy could have issues if land supply is increased. At the moment people are getting huge rents but this could change.

    The issue of course is building on the land even if it was available and I think this was covered in another thread, the wait time on building is huge as their just isn’t a local supply.

    That said if money flows Canberra builders will chase the coin.

    People seem to think Thredbo will tank if rates go up but Thredbo has never had a big mortgagee in possession issue, in fact I can’t remember one (maybe Ullr in the early 00’s but that wasn’t truly MIP) . @telecrag and I have lots of mutual friends in Thredbo and I don’t think any of them rent their places.

    point is these people are not cash strapped.
     
  47. shabu_shabu

    shabu_shabu One of Us Ski Pass: Gold

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    Alpenhorn was placed under administration in the early ‘90s but that was because it was being poorly run at the time.
     
  48. Legs Akimbo

    Legs Akimbo Grumblebum Ski Pass: Gold

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    Administration is often used as a method of re-structuring debt. Get the debt under control (often on a cents in the dollar basis), get a payment plan in place and, after the administration ends, return control of the company to the directors. Creditors are faced with a choice of getting a pittance or getting nothing.The method is a deed of company arrangement (DOCA). In US terms it is Chapter 11 bankruptcy.
     
  49. benchives

    benchives Part of the Furniture Ski Pass: Gold

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    1993 says hello
     
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  50. LMB

    LMB Old but definitely not Crusty! Ski Pass: Gold

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    And it’s not just rates.
    It’s property values and the banks ratios.
    WA says Hi!
    So many people have had massive amounts wiped off the value of properties - you think, oh that’s cool, you just hold it and keep paying the mortgage and it’ll sort itself out in time. No. Not so. Bank does a drive by, then calls you in to say cough up an extra (however much) to bring the equity back in line with bank guidelines or we will force sell it! :eek: