Alpine IP Query

[crest133]

Hi All
I'm trying to do some homework on a property in one of the snow areas, most likely Thredbo, Perisher, or Dinner Plain (freehold) - most likely a 2-3 brm unit or chalet. We would have a few weeks family use in the snow season, then rented out other times.
I'm really starting from scratch here, knowing next to nothing on the advantages and pitfalls of alpine properties, so any assistance would be much appreciated - postings or PM's. I've read the search results postings in the forum here which helped a bit.
I don't mind barking up a tree for a very long time before actually doing something, but it really grates when it's the wrong tree.

Does anyone have any info regarding :


Lending criteria, LVR's, loan limitations,

Pros & cons of this type of property

Factors affecting CG

Most popular areas for families / the younger crowd / yuppies

Depreciation rates on buildings or other goods

Useful links

I'm hoping to spend a few days down there this coming week for a first look around before it's all covered with snow and people.

Any assistance whatsoever would be much appreciated.

Cheers
crest133

 

[Rolf Latham]

Hiya

Should not have a problem for an 80-90 % lend for a free standing place with main stream lenders.

ta

rolf

 

[geoffw]

Many people in the know advise against holiday units which you use yourself. You will probably be renting it at the time when renting it out will give maximum income; negative gearing will be reduced. You may not be buying objectively- and you may end up buying at a wrong time of year (prices may be higher leading up to ski season?). Management fees will be higher, the income of course will be variable. However, depreciation rates on buildings I believe will be higher (4% I think)- but will run out sooner.

There's one thread on buying in the snow

 

[XBenX]

Lifestyle properties and IP's rarely mix - there are some good posts in the other thread (except the one that mentions Thredbare as being a better resort than PB for advanced terrain)

 

[beech]

Hi Crest im assuming that you have read the recent API articles,hence the questions.

If you havnt though grab the current issue for info re Alpine property it was a good read.

 

[crest133]

Thank you to those who have posted so far, much appreciated.
Rolf - GeoffW - XBenX - Beech.
Yes I read the API article, it arrived at a good time, already received some paperwork from one of the REA's mentioned in the article, long process begins.
Any info, any snippet, from anyone would be much appreciated.
Thank you all.
cheers
crest133