Questions re: Condo Ownership

[HowieT2]

That's the #2 biggest negative in my book after the financial aspect. It's also why I don't own a season pass. I love skiing all over. I ski where the snow's best, I chase storms, I strike at last-minute lodging deals, etc... But that's a "too each his/her own" thing, and I imagine if you own a condo you're the sort of individual who likes the familiarity and comfort of routine, etc.. Or perhaps you want to make friends and acquaintances and enjoy more of a social aspect that comes with laying roots on one mountain, etc..



Way, way, cheaper.

the problem with renting and I agree it is cheaper, is that you aren't set with a place. We had a great house for 5 years until the owner sold, then we had a not so good place once (we are in no way high maintenance but this place had some bad stuff) before finding another good house. But you don't know and you have to move all your gear. Plus you don't have it for the summer/fall.

with regard to ski/in ski/out, obviously it's the best for skiing purposes, but we prefer having a bigger place off mtn for the same cost. Also, at least at sugarbush, in the summer, I'd rather be in the valley by the river or in town than being on mtn. So, when we do buy eventually, it will be off mtn.

 

[marcski]

the problem with renting and I agree it is cheaper, is that you aren't set with a place. We had a great house for 5 years until the owner sold, then we had a not so good place once (we are in no way high maintenance but this place had some bad stuff) before finding another good house. But you don't know and you have to move all your gear. Plus you don't have it for the summer/fall.

with regard to ski/in ski/out, obviously it's the best for skiing purposes, but we prefer having a bigger place off mtn for the same cost. Also, at least at sugarbush, in the summer, I'd rather be in the valley by the river or in town than being on mtn. So, when we do buy eventually, it will be off mtn.

This is all true. I like the privacy and land of an off mountain home. We have a locker in the lodge, so no carrying skis for me. (Btw, that is the best investment if you ski at the same resort, esp if you have kids). We've been seasonal renters for years. We had the best deal around for the past few years and the owners just sold it after this season. We, (fingers crossed) just found another house for this upcoming season. The new one is actually nicer albeit more expensive. Renting does my family really well. My wife is a beach person and while, she'll enjoy a weekend or two in the mountains over the course of a summer, we'd never use a house in the summer. I ran the numbers for the house we had just rented for a few years before the LL sold it and it works out much better financially for us to rent for the season.

 

[SkiFanE]

This is all true. I like the privacy and land of an off mountain home. We have a locker in the lodge, so no carrying skis for me. (Btw, that is the best investment if you ski at the same resort, esp if you have kids). We've been seasonal renters for years. We had the best deal around for the past few years and the owners just sold it after this season. We, (fingers crossed) just found another house for this upcoming season. The new one is actually nicer albeit more expensive. Renting does my family really well. My wife is a beach person and while, she'll enjoy a weekend or two in the mountains over the course of a summer, we'd never use a house in the summer. I ran the numbers for the house we had just rented for a few years before the LL sold it and it works out much better financially for us to rent for the season.

We had a locker for about 5 years. Then gave it up. I think it became over $350. And it works if you're always at same lodge - but our kids programs were at 2 different lodges - and if routine varied - could be a pain with boots at one lodge and kid taking shuttle home from other lodge. And if husband wanted to sharpen pair of skis - oops left in locker. It did work a few years, but doesn't always make sense. We are supposedly in wait list for parking pass $400+, but have found we do fine without it. $400 May be chump change to some, but it all adds up - that's a season of après beers and food!

 

[deadheadskier]

$400 for parking at a ski area in Maine? Does it include valet? :lol:

 

[witch hobble]

People must really like crowds. I know a spot ten miles up the coast where you could have fifty feet of beach to yourself and free parking. No waves at the secret spot, but everything else is better.

But where would you get your fried dough? Play skeeball? Buy a tshirt with a crude message that your mom will hate?

 

[steamboat1]

I think you are missing a zero and meant $100K which was about the going rate for a Snow Creek unit

Nope

 

[steamboat1]

Wow you guys spend way to much to ski. I'll just keep doing what I do.

 

[joshua segal]

A bit more detail than my earlier posting: Probably the biggest questions to answer regarding having a place in ski country are:
1. "Can I afford it?"
2. "Do I ski enough to justify it?"
3. "Am I willing to spend most of my time at one mountain?"

Assuming the answers to all of the above are yes, the next question is:
- Do I want to be slope-side or just nearby?

Just having a place nearby solves the problem of the length of AM travel (assuming that the roads are passable, the snow is shoveled and the car starts). With ski-on/ski-off. When I get up, I don't have to shovel snow, worry if my car will start or the condition of the roads. I don't have to deal with base lodges or public rest rooms. If my clothes or gloves get wet, I go in and change, while I toss the wet stuff in the drier. If I need to do some work or take a break, I do so in the comfort of my home.

The first year I lived slopeside, what I saved the cost of heating my largish home, driving expenses, cafeteria/restaurant expenses. I covered my condo fees, taxes and utility bills for an entire year.

I don't recommend that you buy without renting for a seasson or two (unless the price is so low that one could flip it at a profit in a year or two).

 

[Vortex]

We had a locker for about 5 years. Then gave it up. I think it became over $350. And it works if you're always at same lodge - but our kids programs were at 2 different lodges - and if routine varied - could be a pain with boots at one lodge and kid taking shuttle home from other lodge. And if husband wanted to sharpen pair of skis - oops left in locker. It did work a few years, but doesn't always make sense. We are supposedly in wait list for parking pass $400+, but have found we do fine without it. $400 May be chump change to some, but it all adds up - that's a season of après beers and food!

I think I got your old locker. We do a parking pass at the Phoenix. 1/2 the money.

 

[WWF-VT]

Nope

No way that Snow Creek slopeside condos were selling for less than the average cost of a new car back in 1999-2000. Looked up on vtrealestaevalues and going rate was around $100K in 1999-2000.

 

[Whitey]

If you're looking for an honest poll/assessment, know that the odds are people who have made that significant and substantial purchase decision, are not going to tell you he/she did the wrong thing, even if they know it to be true. Buyer/consumer psychology.

I think that now that we've got 7 pages of responses it's pretty safe to say that BG's crystal ball was working pretty good when he made this early post.

Hey BG - can you look into that crystal ball and let me know who is going to win the world series and the superbowl? I am going to Vegas in a couple of weeks and want to make some bets.

 

[BenedictGomez]

Wow you guys spend way to much to ski.

Yeah, I mean, I know I'm an "extreme shopper" of sorts, but some of these estimates seem pretty high.

I think that now that we've got 7 pages of responses it's pretty safe to say that BG's crystal ball was working pretty good when he made this early post.

Hey BG - can you look into that crystal ball and let me know who is going to win the world series and the superbowl?

Saint Louis Cardinals

Green Bay Packers

 

[SkiFanE]

I think I got your old locker. We do a parking pass at the Phoenix. 1/2 the money.

Haha, maybe, it was 58. I think Cartman might be next door. Do miss starting my day out with N&N though. We didn't have much trouble parking last winter - roadrunner if we have to, and white cap is usually deserted. Although I did get a spot that gave me that obnoxious orange sticker one day - the next day they out up a No Parking sign lol. We could shuttle too for the bad weekends - but thats an extra 20 minutes we usually don't plan for when we need to make kids programs

 

[deadheadskier]

It's a pain taking the Tempest chair, but I used to park at White Cap 90% of the time as a pass holder. Closest spots to lodge and no hill like Barker. Southridge too much of a madhouse

 

[Vortex]

I have yet to take the shuttle to the mountain to start the day. I have taken it home and left a car for the fam to use to come home. Same Area, SkifanE, not the same locker then.


I am out most days for one of the first few chairs. Locker/room is Awesome. Still Leaning the ropes of off mountain. Nice to have a back up of everything warm and dry. Never will be as easy as ski on ski off. IMO best way to go with kids. As soon as they hit college.... Off Mountain and a house.

 

[WWF-VT]

Seems most folks here do not own, but I thought there might be a few...

If you could go back and make the decision to buy or not to buy again, what would you choose to do and why?

Do you guys rent out your places? Ski-on/off vs near/around the base?

We own a condo at Mt Ellen at Sugarbush and purchased after doing 5 years of a seasonal rental in the MRV. We're a year round committed family to Sugarbush and the area so buying for us made a lot of sense. We ski most every weekend from opening in November to close in early May as well as extended weeks for school vacations. We also use our condo 2 or 3 weekends per month in the spring, summer and fall as all four seasons draw us to VT. Renting our place was never a consideration from a financial aspect as well as not wanting to deal with renters, cleaning, locking up personal gear, etc.

Our condo is walk on/ski home so we don't have to deal with driving to the mountain, shuttling kids, dealing with parking and other scenarios that others have mentioned in this thread. I put my gear in my Transpak and do a five minute warm up walk in the morning. Being at the base of Mt Ellen is awesome year round - it's quiet in the offseason and I consider it to be my backyard for walks and hikes with my dog and family.

 

[ALLSKIING]

No way that Snow Creek slopeside condos were selling for less than the average cost of a new car back in 1999-2000. Looked up on vtrealestaevalues and going rate was around $100K in 1999-2000.

I believe he was talking killington. Isn't Snow Creek condos Sugarbush?

 

[cdskier]

I believe he was talking killington. Isn't Snow Creek condos Sugarbush?

Yes, but I think steamboat was talking about SB since it was in response to my comment about SB condo prices being reasonable.

 

[steamboat1]

No way that Snow Creek slopeside condos were selling for less than the average cost of a new car back in 1999-2000. Looked up on vtrealestaevalues and going rate was around $100K in 1999-2000.

Look at prices in 1993. Otten didn't come in until 94.

 

[dlague]

People must really like crowds. I know a spot ten miles up the coast where you could have fifty feet of beach to yourself and free parking. No waves at the secret spot, but everything else is better.

No waves - that's why I wouldn't be there. Waves suck on the east coast for the most part but being NH I will take what I can get.