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Maybe a little counterpoint here. We bought a place in Mammoth 3 years ago, and are in escrow to sell it right now. Owning there was a dream come true for me, but the only way that it made sense for us financially was to rent it out. If you do need to rent it to make it work it does change the dynamic of things. Having strangers in and out of your dream come true is odd. We were also fortunate that our place was in very high demand with renters, but that also didn't gel with our usage patterns at all. We go up when the snow is good, not pre-planned vacations. Our place was usually booked 1 to 2 months in advance, so if we went up chasing a storm we were always in a hotel or renting someone else's place. The cost of renting is also pretty crazy. Our mortgage is about $1,500, HOA $600, and property taxes around $325. We grossed about $65K (pre-covid) in rental income per year, but never actually turned a profit in any given year. Between management fees, city taxes, cleaning fees, linen fees, utilities (power bill ran $700 per month with renters blasting heat in the Winter), repairs, supplies for renters, etc., the money goes quick.

This next part may be a little more specific to Mammoth, though I've heard similar stories. Trying to get professional services (contractors, repairmen, etc.) in a mountain town can be a nightmare. I was having a conversation with a buddy about this the other day, but people who go to resort towns to live and work have an amazing comfort level with not actually working. Anytime I called anyone for a gig they seemed really put out with the prospect of having to work. Work was often shoddy, and prices were crazy. Case in point, I needed a couple repairs done to the condo to get it ready to sell. I needed 2 window cranks installed (original ones were broken by renters). Window guy quoted me $200 each just for parts (everything I saw online ranged from $20 to $80). I asked which cranks he was getting and he told me to go fuck myself, literally. We also needed an electrician. I put numerous calls into 4, and only heard back from 1. He told me his next availability was 12/29.

We're turning a killer profit selling just 3 years later, so as an investment it has been good, and it makes sense to sell now. If the market doesn't leave us in the dust we will buy up there again in the next couple years, but we'll do something smaller and cheaper that we don't have to rent in order to offset costs.
So end of story......., you've cleaned up.

Our place in Australia has doubled its price in 10 years and we have people who told the manager they want to buy our place as soon as it comes on sale, but we wouldn't sell it unless we bought a better place to move down the mountains when we retire, however this won't be cheap. Fortunately we have no debt on our house so we can comfortably enjoy it what it offers, get okay tax breaks, get some rental return $$$, and most importantly, snowboard when we want. We book our weeks in every year as I know when it's strategically the best times for snow. It's also really nice down the Alpine in summer.

Owning snow accommodation is probably more so a lifestyle thing but you only live once so enjoy life whilst you have it.
 

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To echo some other replies, don't factor the promise of rental income into what you can afford. You can give it a go, but it's a slog, there are a lot of hidden costs, and people can be crazy. Once we had vacation renters light a massive bonfire in our yard, totally burned up the grass (still black years later), in a super wildfire-prone place. With that said, if you buy a house that also has an adjacent apartment, and then rent that apartment to someone on a yearly basis, it can be pretty nice. Especially if you are away for a month or two and something like a small leak ends up flooding out a whole room. It's nice knowing that you have someone generally around who might alert you to something that would otherwise get missed. No guarantee of course, but we have found it useful having a set of eyes around. Good luck!
 

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To echo some other replies, don't factor the promise of rental income into what you can afford. You can give it a go, but it's a slog, there are a lot of hidden costs, and people can be crazy. Once we had vacation renters light a massive bonfire in our yard, totally burned up the grass (still black years later), in a super wildfire-prone place. With that said, if you buy a house that also has an adjacent apartment, and then rent that apartment to someone on a yearly basis, it can be pretty nice. Especially if you are away for a month or two and something like a small leak ends up flooding out a whole room. It's nice knowing that you have someone generally around who might alert you to something that would otherwise get missed. No guarantee of course, but we have found it useful having a set of eyes around. Good luck!
The rental return on our place down the snow would have payed it off in around 15 years (taking into acount our stays where there is no return). It is a bit of a lifestyle choice but for me, a damn good one.
 

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I only plan to rent when I’m off somewhere else renting someone else place. Or weekends I wouldn’t be caught dead riding anyway, like presidents lol. Otherwise I’ll be there all winter anyhoo
 

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I don't see the point in buying my own house or apartment somewhere in the resort. This is unwise. Personally, I only go to the resort twice a year. And taxes for the apartment will need to be paid monthly. And where is the benefit in this?
 

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My Japan experience.
I bought a 1979 built house 2 mins walk from a small ski resort, 30 mins from 2 of the most well known resorts in Nagano for US$40k.
It is quite modest and has not much resale value, not to Japanese anyway but it is giving me the snowboard lifestyle I wanted at possibly the cheapest price in the world market.
Properties like this are everywhere in Japan and it is possible to buy as a foreigner with the help of a local agent and just operate on 3 month tourist visas every season, I know peeps that do a flight to Korea and back to get a new 3 month visa in spring time so they can do the entire season.
You can make money renting out rooms to foreigners but it is quite a hassle, everyone is doing it so competition is high but people on holidays really shit me with their expectations so I don't do it.
 

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So your 1st post on a snowboard forum is saying you don't see the point in owning a house in snow resort???
Not his first post. He was LucasSpringer before. Looks like spammers have some kind of campaign that they want to attach to a discussion of homes in a ski resort. We'll probably get 3-4 first-post throwaway comments in this thread before they give up.
 

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If you're living in London why are you thinking to get a place in Canada or the US? You can fly to Geneva in 2 hours and have hundreds of resorts within an hour or two drive from there. Likewise Innsbruck. You can even hop on the train at London Euston in the evening and wake up in Bourg St. Maurice the next morning. Places like that, or Morzine, Mayrhofen, Chamonix etc that have summer tourism and are 'real towns' i.e. not just accommodation and services for the resort would be a good bet as you can rent it out in summer too to climbers, hikers, mountain bikers and the like. They have vast lift networks so you wouldn't get bored riding there for the next ten years. Whistler looks great but there are hundreds of resorts like that in the Alps, many of which very few tourists have even heard of and you could find property for a fraction of the price of a large North American resort, never mind the cost of getting there.
 

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It is a bit of a lifestyle choice but for me, a damn good one.
Hear you there. I'm in the Alpine Shire with my old man - we love it here so much, that even with just a single day on the snow this season, just being away from it all..... dad and I just put down for a plot of land. Gonna build simply, as eco friendly as we can, individual "living" quarters with a common area and a couple of small buildings that can serve as AirBnB (or similar) accommodations during the winter.

Think a number of tiny houses, with a nice big deck (firepit in the middle, mandatory), nice common area with cooking/sofas/big TV playing snow movies, and separate tiny tiny houses where people can reside. Well, that's our vision at least.


Or weekends I wouldn’t be caught dead riding anyway, like presidents lol.
Funny, the mind-shift. Yeah I've lived places overseas, for seasons. Being back in Oz and working a 9-5 (in the office until 2018), I used to hit Buller on a Saturday, and be glad for it - hell, I'd be choking for it. Now... damn straight - fcking forget Saturdays - Sundays have been okay at my local resort (Falls), but really, weekdays are where it's at.

Farrrrrrrrk I hope next season is a good one. I'm hoping to crack the magic 50.
 
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