post #31 of 31
Thread Starter 

Just some thoughts on the subject.

Tedski: In retrospect, I think the smart play would have been (or still could be) to buy a house in town. The place boomed when they built the dam, afterwhich is sounds like there were lots of unused housing, all of which has since been bought up at bargain prices. Every time I've been to Revelstoke over the last 7 years (always around Christmas) the town has been full, but with sleders. This time our motel was also full, but only a few of the rooms were skiers, it was still mostly all sleders, who probably aren't interested in a condo at the resort. I know Reve is a big summer tourist spot but it will probably be many years before the mountain has recreational facilities that would make people want to stay there. On the other hand, it's only minutes from town and the views are killer. Depending on your future rental strategy a small house or condo in town might be a better option.

I have a couple of friends that bought old houses in Silverton when the new area opened. They renovated the garage to have a small appartment. They rent out the house year round and stay in the small unit when they want to ski or hang out in the summer while the renters pay their mortgage. Around here resort rental companies take about 50% of your income and a good annual occupancy rate is 60%. With a house you could jack it up to 100% if you can figure out a way to also use part of it.