As someone who spends pretty much most of their life trying to avoid butt-draggers when out on the slopes, I have spent many hours dreaming of buying up a little chalet somewhere in the Alps and being able to ski absolutely whenever I want! I have taken a look at most of the sites you guys are linking to here and wowzer there are some absolutely beautiful properties. Whilst on a serious hunt for a property I came across this site that has the most luxurious, beautiful places you have ever seen, now before you guys get the wrong idea there is no way AT ALL i would ever be able to afford any of these places but as we are dreaming a little here i'd like to share it with you guys.. http://www.uniqueliving.com/property-for-sale/french-alps/ But seriously guys, do you know of any property sites that isn't made for super millionaires but more for the average folk ;-)
alpine property has a search by price function for under 400,000EU there are 240 properties; http://www.alpine-property.com/sear...0000&Search[maxPrice]=400000&Search[type][]=0 a lot are units, but you can still get a cute little chalet within that price range, like this for 299,000EU; http://www.alpine-property.com/les-...0000&Search[maxPrice]=400000&Search[type][]=0
Entry level for an apartments in a smaller, lesser known French ski resort/village starts as low as 50k€. At that price you're buying a studio that's not big enough to swing swing the proverbial cat in. IMO, it's better to try to buy directly off the sellers, as opposed to some of the British (or other) agencies. This site is a French version of gumtree .... http://www.leboncoin.fr/ventes_immobilieres/offres/rhone_alpes/occasions/?f=a&th=1 You can narrow down your search by selecting regions and specific towns, villages or postcodes.
I met a Swede who bought a studio at the base of the Aiguille du Midi for about 90k€ a couple of years ago.
Not really GDP (ppp) we are 11th and they are 13th http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita It's all that tax they have to pay!
Ok, but they still possibly have more money than us considering it costs them a lot less to fly to their 90k€ studio a few times a year.
Yep, that's the advantage Europeans have over Aussies. For us, travelling to Europe multiple times per year is both cost and time restrictive. As discussed earlier in this thread, IMO, I think it's more practical for the average Aussie to rent an apartment every time they want to ski overseas, and invest in property locally. Unless of course, money is not an issue.
Yeah $1500-$2000 plus time in the air plus jetlag........ In a perfect world I'd like 2 extended stints in Europe per year.
Yep, and the fact that anything under 2 weeks is not a realistic option adds another hurdle to the cost, travel time, and jet-lag equation.
Swedes can spend up as the cost of living profile is different. Sure it's pricey but a case in point: my buddy in stockholm lives with his family in a rent controlled apartment (very common). Its pretty nice and in an ok area. Its also dirt cheap and he, like many others, owns a country house outright. For similar money to what he could buy a studio in zee alps... try doing that in oz as an average wage earner...
Sounds like a good plan. Just post your full name, address, D.O.B. passport number, tax file number, banking details and I'm sure someone will be in touch soon.
Found this http://www.frenchmortgagedirect.com/mortgageguide.php If you can get day 2.5% finance on a 200,000 euro place in Cham, interest is then 5000 euro or $7000 aud, maybe 10k p.a after other costs. At $150 a night you would only need to let it out 60-70 nights a year when you aren't there to break even. Can negatively gear like a domestic property now too. Airbnb is full now full of Londoners with Cham 1 br places for let.
I haven't done tax law for a while but pretty sure you can claim a good portion of the flights to 'inspect' annually.
And there's your problem. Smarties have already snapped up the good, easy to rent apartments. Need to look outside the main towns, which prolly decreases your chance of meeting rental target.
Or just marry in to a family who owns Cham property like @piolet But like I said earlier we usually find a comfy place for around 1000e for a month - if we manage to keep doing that I can't see us wanting to buy something.
Oh I agree, I've been looking for a French wife for some time now, trouble is current +1 isn't thrilled with that idea. Just a dream to live there one day.
dont forget that part of your business model should include the positive of not having to pay for rental accommodation when you are on holiday
Unless you're going to spend large periods of time there, now and for the rest of your life, IMO the best three options are to RENT, RENT or RENT.
but if you are going elsewhere, then either: A/ you generate more rental income (hopefully), or B/ arrange a swap with someone else so neither of you pay rent
If it's purely an investment, there are better ways to invest money. That's why it's better to be looked at as a lifestyle investment.
define "investment"? a Capital Investment may not provide a short term operating return and you are relying on long term capital gains. If you choose to buy a ski property now, its more likely that you are doing so because prices are depressed. That may also lead to a great capital gain in years to come, and potentially even a foreign exchange gain if you are lucky enough to buy when the AUD is high and it drops.
That sounds like trying to rationalise a lifestyle choice. If you want to make the lifestyle choice, go for it, but on any *objective investment criteria*, it is unlikely to make the short list of viable possibilities.
Been discussing this very topic for a while & I like the idea of B Gareth. I'd only be interested in property that was flexible , popular with permanent residents & you had the option of leasing it out yourself on long term leases when you wanted a change of scenery or just throw it into a holiday pool & use yourself throughout the year . And I agree with many here that the purchase of property in or around resorts shouldn't be looked @ as purely an investment because the first thing to go when you have your GFC's are your recreational assets be it holiday apartments ( the arse falls out of them ) boats & flashy cars. I'll be gearing mine with enough equity so it can survive a lean season & at least pays its own outgoings. That way regardless of what happens to the markets, its as close as bullet proof as possible. I think the benefits of not toping up repayments in the back end of your career ( which commits you to work longer ) far outweighs the benefits of getting finance for taxation purposes.
trust me, I have no false illusions that ski properties are pure investments, and anyone who buys one on that basis has more money than sense. However, if you make a lifestyle decision, but use investing criteria to help filter the potential results, then hopefully the long term pain can be somewhat reduced. If you chose to purchase a ski property, purely as a lifestyle choice, but also had the opportunity to rent it, depreciate it and negative gear it, then why wouldnt you?
Sure, claw back a bit on the side, but it's not really an 'investment' as such. You've selected the property first and foremost for it's lifestyle returns.
Further to that I observe many parents who see their kids out of home, downsize for a winnebago or holiday home etc
take care people! Eviction threat for Australians who put life savings into Thai dream homes http://www.smh.com.au/world/evictio...n_code=nocode&promote_channel=social_facebook
