Ski in/ski out Big White studio condos close to a lift in Canada’s favourite family ski resort for under $CAD 300,000? Or around $AUD 330,000 / $USD 235,000. Sounds OK to us.
If you are one of the lucky existing home owners in Australia cashed up like crazy by the real estate boom of the past 18 months, here’s an opportunity to use that massively boosted equity in your home/homes and combine it with your love of skiing.
Of course the flipside of the current Aussie real estate boom is prospects of buying a property for those not already on the ladder are getting ever more difficult.
But for those who are, and cashed up as a result, think lateral.
If you have a interest only loan facility paying 2% or so that’s $6,600 interest on $330,000. Not a lot. Go stay in your condo for a few weeks and your returns from the rest of the season would likely see you come out in front. We don’t have a financial prospectus for the new Big White development, and make no claims about specific returns etc. But safe to say with interest rates so low the returns wouldn’t have to be very big at all to basically give you free snow accommodation.
You can check similar developments by the same company in the Okanagan on the ownvita.com website – see link below.
This is what the resort had to say about the new development:
Big White Ski Resort and K West Homes are excited to announce a brand new, ski-in, ski-out 200-unit residential development at the base of Black Forest.
These will be the closest residential suites to any chairlift at a major resort in North America…
And now’s your opportunity to get your ski boot in the door!
“My grandfather went on the first building spree when he purchased the resort back in 1985. My uncle continued through the late 90s and 2000s, and I have the pleasure and excitement of watching the next phase of our family’s stamp at beautiful Big White Ski Resort.” says Peter Plimmer, President & CEO of Big White Ski Resort Ltd.
“It’s our goal to continue to improve the recreational facilities, accommodation and infrastructure every year. The Master Plan is proving to be a great blueprint to follow.”
Black Forest Residences, a $60-million project, is a “smart” studio condominium development offering an affordable alternative lifestyle with suites that are fully furnished and include exceptional finishes:
- Quartz countertops
- Stainless steel appliances
- Vinyl plank flooring
- Large windows offering panoramic mountain views
Each suite accommodates up to 4 adults, featuring a king bed and a queen pull-out sofa, a flexible eating space around the large kitchen island and numerous storage cabinets. Each suite is also tech savvy; you can control your heating and door lock directly from your phone.
Kevin Bird, President of K West Homes has sold out and completed two recent “smart” studio developments; Cambridge House in Kelowna BC and Vita at Okanagan Landing in Vernon BC. K West has built over 1,300 homes since 1991 in the Okanagan Valley. When asked what his vision is for Black Forest Residences, Mr. Bird replied: “The Okanagan is one of the most desirable destinations in Canada but it has always come at a high cost. I wanted to introduce an affordable housing choice to the ski destination of Big White with efficient and flexible space without compromising quality.”
Visit www.ownvita.com to learn more.
More on why Big White is worth a look: