A ski property could be one of the most lucrative investments you make. Not only can you enjoy the property yourself, but there are many advantages to renting it out to holidaymakers throughout the year. If you’re thinking of doing this, here are a few things to consider.
Does the property have duel season potential?
If you’re thinking of letting out your property throughout the year, then it would be wise to ensure it can be used at any time. You might choose to buy somewhere in a dual season resort, which offers plenty of activities and events during the summer months, as well as skiing in the winter. If the resort regularly hosts sporting, food, and cultural events, this should provide a good source of rental demand throughout the year.
Alternatively, you could choose a resort that has a long ski season, such as Tignes in France, to attract skiers into the spring and early autumn.
Is the resort easy to access?
For holidaymakers who want a weekend away or even a week, location tends to be a prime consideration. The easier it is to get there, the better. So, if your property is on a resort that is close to an airport and easy to get to via car or train, then it should appeal to a wider customer base.
As well as this, buying somewhere with easy access to both the slopes and key tourist destinations, such as a major city or the Italian lakes, could mean that the year-round appeal of your property increases.
Does the resort appeal to all skiers?
You may wish to consider whether the resort you choose appeals to every type of skier, from beginners to advanced. This could widen the appeal of your property, especially if it is large enough to host a family.
Ensuring that the resort offers a ski school for children would also be a wise move.
How much income will your property generate?
When looking for a property to rent, it’s always wise to work out the rental yield. You could look at average rental prices in the area over the last year or so and compare this to the prices of property. If property prices are high but the rental prices are low, for example, then it may not be worth investing. To work out the rental yield percentage, divide the annual rental income by the value of the property. Then, multiply this by 100.
How will you advertise your ski home?
Once you’ve bought your home and it’s ready for rental, how will you find clients? There are many ways to do this. You could advertise on a site such as Air BnB or Booking.com if you’re looking for short term rentals. This would mean that you’ll be handling everything yourself, from bookings to enquiries. It could be a lot of work, but it would be more lucrative than going through an agency.
However, if you’d rather take a ‘hands-off’ approach, then using an agency would be a good option. They’ll handle pretty much everything and you won’t have to spend too much time on the property. However, they will take a cut of the income.
Start looking for your ski property today
To get the process of buying your ski property underway, why not take a look at our handy ski property buying guides? They lay out the buying journey step by step to make the process as smooth and hassle-free as possible.