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One variable that I haven't read yet in this thread, and have both experienced it myself and heard many friends who also made the jump from fractional or full seasonal rental situations to full ownership situations, is that very often you discover that the region that you enjoy enough for winter sliding on snow purposes has just as much outdoor enjoyment options in the summer months, and that's even from people who are beach people and boaters.
The reality that I have experienced in over 9 years now of full ownership is that as a family, even as my kids have gone from pre-school and daycare ages when we first bought to busy middle schoolers now, is that we're using our place more and more in the summer and fall than my wife and I ever thought we would when we made the decision to go from multiple years of seasonal rentals to full ownership
But will the extra cost of not owning and saving the money to invest yield more money than the money purely lost from renting? I haven't run the numbers so I don't know.
I would think it depends on the location in which you own. If you own a place in Stowe, North Conway, or MRV, then the home is a lot more likely to increase substantially rather than a home in say, Kingsfield ME.
That provides a really nice perspective. Association fees are killer. That's why I'd think if you wanted to own but in more economic way, buying a home in a place like N. Conway, MRV, or even Lincoln would be the move if you can find a place without association fees. Condos are nice and there would be no slopeside aspect, but you save on fees and you're not tied to one mountain as well.
The amenities that condo fees goes towards i could care less about usually.
For me, owning I wouldn't consider an investment over the stock market, but if I could get it close to the cost of renting every season I'd like that for the added convenience with the ability to potentially get some money out at a later date.
The enjoyment over the years certainly counts for something that can't be quantified in terms of a $ value.
I agree with this we definitely enjoyed our 11 years of ownership. When I couldn't ski much I hated winter but when we bought the condo I looked forward to each weekend.
We bought near the high end of the real estate market but I never thought we'd have to sell for less than we paid after many years of ownership . We did, $28K lower and this was after 11 years of ownership and $25K+ of improvements. I don't want to think about the real cost of those 11 years of ski condo ownership when I add this total $53K loss.
Real estate has been our worst investment, even the gain in our home in CT after 25 years of ownership doesn't come close to any of our other financial investments. I know that other areas of the country real estate is appreciating again, not still depreciating. I think this is a mostly New England problem along with a few other rust belt states.[/QUOte We have owned at Mt Snow for 16 years. We bought at a good time as the units are selling about 70k higher than what we paid.mlctvt from the sound of your posts we might own in the same development. I never looked at it as an investment I was just Thrilled to get a place that I could Ski back to after a day on the mountain. The 1st 14 years were 20-25 Ski day seasons with some short term rental of an ave of 2500 to help cover costs.The last 2 we rented it out for 11000 for the season as both our girls were in college. Missed it a lot even though I went out to Utah for a great trip and also did a lot of cross country back country skiing. Only had 9 days in 2 seasons. We are not renting this year and have our season passes so I'm Stoked for a 25 day season. Owning a place for us has worked out well it just makes it easier to just jump in the car and go whenever you want and have all your gear up there.