I'm planing to buy a leaseback ski apartment in the Alps, does anyone knows if the rent (after expenses taken out) will cover for the mortgage payments?
What do you mean by saying that 'if you buy a good ski leaseback then the shortfall will very likely be greater'? Do you mean that the better leasebacks cost more and therefore leave you with a greater shortfall, but show better potential for capital growth?
Many thanks for the honest appraisal. Like me you are obviously banking on north facing slopes, snow cannons and the excellent links combatting global warming!
As for the apartment it is pretty small (26m + 6m balcony) on the top floor, SE facing, so hopefully won't be disturbed by late night revellers (but close enough to stumble down when the mood takes!). Can I ask if your apartment was significantly cheaper per Sq Metre? I don't plan on selling in the short-term, but would like to be re-assured that I should be able to get out in 5 years time covering my costs and seeing a small profit.
Sorry to go over old ground, I am new to the forum - I'll do some trawling. Still interested in your assessment of the prices. We went for this development for several reasons, but particularly because we only wanted to consider a P&V run residence. I am slightly concerned that the apartment may be above its true market value (even allowing for the VAT rebate). We are paying 180k euros for the apartment plus a parking space.
don't sign !! these last years many owners, both french and foreigners, have problems with the residence managing compagnies. Some of them don't pay their rent as it was contracted. Some people were never payed since the begining. We are doing many actions in direction to french and european authorities in order that they change the law. you can see our e-petition in http://groups.google.fr/group/Invest-RT Sorry if it's in french for the moement we are doing our best to translate this group site and the petition asap. regards
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Seamus,
What do you mean by saying that 'if you buy a good ski leaseback then the shortfall will very likely be greater'? Do you mean that the better leasebacks cost more and therefore leave you with a greater shortfall, but show better potential for capital growth?
Apologies if it's a bone question..........!
Thanks Seamus,
Are you familiar with Le Britania in La Tania (Maeva/P&V) and do you have a view on whether it is fairly priced?? I still have 7 days to pull out!
Thanks,
Mel
Seamus,
Many thanks for the honest appraisal. Like me you are obviously banking on north facing slopes, snow cannons and the excellent links combatting global warming!
As for the apartment it is pretty small (26m + 6m balcony) on the top floor, SE facing, so hopefully won't be disturbed by late night revellers (but close enough to stumble down when the mood takes!). Can I ask if your apartment was significantly cheaper per Sq Metre? I don't plan on selling in the short-term, but would like to be re-assured that I should be able to get out in 5 years time covering my costs and seeing a small profit.
Seamus,
Sorry to go over old ground, I am new to the forum - I'll do some trawling. Still interested in your assessment of the prices. We went for this development for several reasons, but particularly because we only wanted to consider a P&V run residence. I am slightly concerned that the apartment may be above its true market value (even allowing for the VAT rebate). We are paying 180k euros for the apartment plus a parking space.
Cheers,
Mel
Lomi39344.698599537That will depend on how much your mortgage is.
don't sign !!
these last years many owners, both french and foreigners, have problems with the residence managing compagnies. Some of them don't pay their rent as it was contracted. Some people were never payed since the begining. We are doing many actions in direction to french and european authorities in order that they change the law.
you can see our e-petition in http://groups.google.fr/group/Invest-RT
Sorry if it's in french for the moement we are doing our best to translate this group site and the petition asap.
regards
I have only heard positive stories about P&V, in line with Seamus' comments earlier. Are you aware of any cases of P&V not paying??