Thredbo Property

Discussion in 'Snow Talk' started by SkiandRideGuide, Jan 14, 2012.

  1. piolet

    piolet Old And Crusty
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    on that note, MS, whats the strata/body corp/whatever it's called in CA like for the condo blocks you are looking at?
     
    #51 piolet, Jan 16, 2012
    Last edited by a moderator: Nov 18, 2013
  2. main street

    main street Sun Peaks Resident
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    Annual tax on the unit I'm looking at is $700.

    Monthly "strata" fees are $430 ..... But !!,.....

    That includes EVERYTHING ..... water, power, maintenance, snow clearing, garbage disposal, internet & cable tv.
     
    #52 main street, Jan 16, 2012
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  3. piolet

    piolet Old And Crusty
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    everything? for 5k it better include a lift pass! [​IMG]
     
    #53 piolet, Jan 16, 2012
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  4. skiflat

    skiflat Just Registered

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    Internet and cable TV here costs nearly $200 a month [​IMG]
     
    #54 skiflat, Jan 16, 2012
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  5. Snorkler

    Snorkler Part of the Furniture

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    Power bills can now be like $200 a month as well.
     
  6. main street

    main street Sun Peaks Resident
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    [​IMG] [​IMG]

    Yeah,..... Season passes are real expensive too [​IMG] ,..... $600 for residents.
     
    #56 main street, Jan 16, 2012
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  7. Hobber

    Hobber Addicted Member

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    Pft. I only paid $699 here for mine - what's the big deal?
     
    #57 Hobber, Jan 16, 2012
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  8. main street

    main street Sun Peaks Resident
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    [​IMG]

    No big deal at all...... [​IMG]
     
    #58 main street, Jan 16, 2012
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  9. skiflat

    skiflat Just Registered

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    [​IMG]
     
    #59 skiflat, Jan 16, 2012
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  10. gareth_oau

    gareth_oau Old And Crusty
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    is that Mainstreet on the left?
     
  11. Izzy

    Izzy Dedicated Member
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    SkiandRide, considering bed licensing would be approx $5k pa, and body corp in excess of $2k pa, $24k net seems a bit optimistic IMO. Cleaning, changeover and heating costs are also a big drain on revenue

    As others have said, Aussie snow property is not a good investment by most measures. Still, if prices keep going south, then maybe the numbers might start to stack up when you factor in the 'lifestyle' argument....
     
  12. SkiandRideGuide

    SkiandRideGuide Just Registered

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    So spent last weekend up there inspecting properties and received their historical profitability on friday. Some are providing little in the way of return, others are really quite good around the 7% mark after everything, body corp, bed tax etc... I can forward the figures to those interested.

    Because it is leasehold, you need at least a 40% deposit.
     
  13. main street

    main street Sun Peaks Resident
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    Ouch.

    Still a proposition with far too much risk IMHO.
     
  14. gareth_oau

    gareth_oau Old And Crusty
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    7% is pretty good, if its not purchased as an investment.

    Further, if you use it on a regular basis, you save a hell of a lot of rental charges. This should be factored into you financial model (also accounting for the drop in income (and tax deductions) when you are renting
     
  15. main street

    main street Sun Peaks Resident
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    Personal usage would just about kill it as the drop in proportionate income would be massive .
     
  16. skiflat

    skiflat Just Registered

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    As MS has said you won't be getting 7% if you start using it on weekends or for a week or three....

    Unless you are in it for the full Winter period it's a waste of time

    Spending say $400,000 + Body Corp + +++++++

    The Body corp and outgoings alone would be enough to pay for 4 weeks in EPIC accommodation on the hill
     
    #66 skiflat, Jan 23, 2012
    Last edited by a moderator: Nov 18, 2013
  17. Angus_McCrory

    Angus_McCrory Old And Crusty

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    7% if a permanent rental, if you are lucky. Take say a 1 bed + loft at Riverside Cabins; IIRC they want $0.75m so to get 7% on rent alone would be $1,050 per week, then add outgoings.

    Thredbo has long been called the Double Bay of the mountains - i.e. Double Bay = double pay.
     
  18. skiflat

    skiflat Just Registered

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    IF it's a good season...................
     
  19. cold wombat

    cold wombat Twitter Contributer
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    If it's a good season are you really going to want to max out your rental returns and not get any joy yourself? Go the club membership.
     
  20. snowfrog

    snowfrog Active Member

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    Surprised this discussion has been had and no one has yet mentioned the C words .... Climate Change. I don't claim to be an expert on this subject, but snow seasons will get worse ... in our life times. The snow is not going to disappear, but seasons will get shorter, with more reliance on snow making. Seasons have already got shorter. Which does not bode well for investing in the industry

    http://www.abc.net.au/news/2015-07-...effect-future-ski-seasons-scientitsts/6610018
     
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  21. snowduck

    snowduck Dedicated Member
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    Better posted in one of the climate threads in Conversation or Bearpit
     
  22. cin

    cin Part of the Furniture
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    yeah, that's THE place for sensible discussion these days! LOL
     
  23. telecrag

    telecrag Part of the Furniture
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    ?? 4yo thread, year old linkā€¦???

    maybe mining is about to make a comeback!
     
  24. bengarden

    bengarden Active Member

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    I agree. I want it to be cold consistently and snow as much as the next person in Australia. I always get some good days on the slopes here but I am also realistic that its getting more and more fickle here if you want the good snow. We looked at buying some property in the Thredbo Valley a few years ago and after taking into account factors such as the future outlook on climate decided that it was not a good longterm investment. We take what we can get here when its good but after being lucky enough to experience Japow the past 2 years, we're heading back again next Jan because of the conditions that make it possible to book far in advance and still expect the snow to be good and temps cold. I would find it hard to justify a place in Thredbo unless we had the cash sitting there and weren't looking to make money with it. i.e. we had cash to throw around like it didn't matter.
     
  25. climberman

    climberman CloudRide1000 Legend
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    If you fish, ride and walk as well it makes better sense.
     
  26. Farkle Minkus

    Farkle Minkus Active Member

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    You could do all those things anywhere. Certainly not worth the investment buying a place in the snowy mountains, especially in Australia. A lodge membership would be a better option, otherwise its money down the toilet. It took years for my oldies to sell their place, and at a loss.
     
  27. climberman

    climberman CloudRide1000 Legend
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    I like fishing and riding and walking there.
     
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  28. Farkle Minkus

    Farkle Minkus Active Member

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    Hey, if you can afford it then you're doing better than most, hats off to you. We had a place at falls until my oldies retired. A few years later a big developer had a huge fire sale. Glad they got out when they did.
     
  29. telecrag

    telecrag Part of the Furniture
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    Id buy in Kalkite. And a flat in Thredbo.
     
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  30. coolair

    coolair Well-Known Member
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    Looked at a 2 bed unit in Kalkite in 2000, was $80k then.
     
  31. telecrag

    telecrag Part of the Furniture
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    Probably still is!

    Nah, probably still under 200 though!
     
  32. vibe++

    vibe++ Dedicated Member
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  33. telecrag

    telecrag Part of the Furniture
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    Because its not here? Id have to fly and stuff. If you live a flight away anyway, yeah, and if you are looking for an investment, property? Haha funny!
     
  34. vibe++

    vibe++ Dedicated Member
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    just comparing what you get for your money.BTW 7days rental would pay for your airfare. You could rent it out dec,feb,march and april and spend all of jan there
     
  35. WaitAwhile

    WaitAwhile Dedicated Member
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    You make it sound so easy , why isn't everyone else doing it from Australia.
     
  36. climberman

    climberman CloudRide1000 Legend
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    Hard to hit at short notice for a weekend with the kids.
     
  37. vibe++

    vibe++ Dedicated Member
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    your rental from the other 3months can pay for your skiing here
     
  38. vibe++

    vibe++ Dedicated Member
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    you tell me
     
  39. climberman

    climberman CloudRide1000 Legend
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  40. LMB

    LMB Old And Crusty
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    Again ... Works if you're driving distance.

    Was looking this week.
    Kalkite and Jindy - much of a muchness for low end one/two/three bed units. Berridale a bit cheaper - but .. Umm...Berridale!! ;)

    Wish it worked like that.
    Sinking fund, management fees, snow clearing, repairs etc. You do it for the lifestyle choice, not the investment. You wouldn't buy overseas if you weren't already regularly flying os and renting something.
     
  41. vibe++

    vibe++ Dedicated Member
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    i was just comparing what you get for your money. $139000 for a 2bed 2 bath condo on snow sounds a lot better than $700000 in thredbo surely
     
  42. vibe++

    vibe++ Dedicated Member
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    the fees in canada are much less than here.
     
  43. LMB

    LMB Old And Crusty
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    Cheaper in Japan too.
    But to be perfectly honest, if I was in driving distance to Aus snow I'd consider an apartment in Jindy a good lifestyle investment. It'd be a dodgy old thing with bunk beds, but it's no small thing to tie up cash in overseas property.
     
  44. vibe++

    vibe++ Dedicated Member
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    I agree totally, jindy would be a better option
     
  45. WaitAwhile

    WaitAwhile Dedicated Member
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    How much do they charge you to manage an apartment there and what are the changeover costs(unit clean and linen hire)
     
  46. Zimboo

    Zimboo Addicted Member

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    You have to consider the neighbours.......................could you put up with the likes of Donza, Normo and others. LOL
     
  47. LMB

    LMB Old And Crusty
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    PAAAARRRRRTTTTYYYYY!!!
    :cheers:
    Although you'd need to have stairs so Normo could keep adding to the VMs
     
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  48. gareth_oau

    gareth_oau Old And Crusty
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    we've looked into it and that is our plan.

    The pricing of places in Sun Peaks is much better than Oz, and the rental returns are a lot higher too.

    Of course, I'd love a place in Thredbo for the southern winter and spend time in both, but gently gently at this stage
     
  49. Farkle Minkus

    Farkle Minkus Active Member

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    Many Australians already do. If you can afford to buy a property here you can definitely afford to buy O/S. Bargain buys can be found in Japan, Canada or Europe. Avoid the world renowned resorts and the worlds your oyster.
     
  50. telecrag

    telecrag Part of the Furniture
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    What if Candaidia cuts diplomatic ties with awestraylya, and you can no longer get to your place? Huh? Or you get done drink driving, even though you don't drink, then what? They would probably seize it as the proceeds of crime or something! Too dangerous I reckon, big gamble.