While many ski resorts are considered to just be one-season winter destinations, numerous ski resorts across Canada have become four-season playgrounds, offering a variety of different outdoor activities all year. Thus, investing in a home at these resorts can be perfect for those looking to escape the hustle-and-bustle of the city to spend some time away in the mountains. However, when it comes to discussing investment opportunities for vacation properties, one question that always arises is, should you invest in a ski resort property?
We’ve taken a look at some of the pros and cons of investing in a ski resort property.
Why Invest in a Ski Resort Property?
There are several good reasons, to invest in a ski resort property, especially in the Okanagan. There’s no question that the Okanagan Valley itself boasts an endless list of activities that one can enjoy year-round, including a number of fantastic ski resorts that are just a short drive away. This makes the appeal of investing in a ski resort property even more enticing since you can live within the Okanagan and just have to drive a short distance to enjoy your vacation property.
Buying a ski resort property can have many benefits. Oftentimes they are more affordable than a property in a larger center, which makes them appealing to both buyers looking for a vacation property, but also first-time buyers looking to enter the housing market. As working remotely becomes more and more accessible, some people jump on the opportunity to live on the mountain year-round and avoid commuting to work every day.
Vacation Rental Opportunities
Another draw to investing in ski resort properties is the ability to leverage them as vacation rentals. While you yourself may only utilize your property a few weekends during the winter, it opens up the opportunity to rent the property out on the weeks or weekends where it’s sitting empty. This makes ski resort investments a great way to bring in some extra income during the busy seasons to help offset the cost of the property itself.
Owning a ski resort property that boasts ski-in and ski-out availability is a huge draw for a vacation rental, as it minimizes the need for renters to have a vehicle themselves. Many of the ski resorts in the Okanagan, such as Big White and Silver Star, offer shuttles that run directly from the airport to the mountain, making them incredibly accessible to renters visiting from out of town.
Four-Season Access for Ski Resort Properties
The fact that many ski resorts operate year-round is a huge benefit if you’re wanting to invest in a ski resort property. Many resorts offer activities such as mountain biking and hiking in the warmer months, making ski resorts a great place to visit year-round. Not only is this great for property owners, who can enjoy their ski resort properties during the quieter, off-season months, but it also opens up the potential for year-round revenue by offering your ski resort property as a true, 4-season vacation rental.
Investing in a ski resort property can not only provide you and your family with a fun place to escape to on the weekends, but it can also be beneficial in providing an extra income stream on the weeks and weekends where it isn’t being used.