Are ski homes hot investments…or a cold reality?

Ski homes may be breathtaking winter escapes, but how do these powdery paradises hold up as investments? For the answer, we chatted with ski home and resort developer Eric Christensen of Lone Mountain Land Company in Big Sky, MT. Here’s his take, and the top mistake to sidestep when shopping for your own place.

Q: How did you end up building ski homes? “I started off building hotels in Disneyland Paris, Mexico, and the Caribbean. But I prefer the mountains; my wife and I love to ski, and our kids grew up racing in Tahoe. So eight years ago, I came to Big Sky to build hotels and homes for the Montage Big Sky and the One&Only Moonlight Basin.”

Q: Are ski houses good investments? “Our typical buyers aren’t pure investors, but someone who wants to spend a month or two in Big Sky and when they’re not there, rent it out to cover carrying costs and maybe get a return on investment. We also sell quarter-fraction condos. If it fits your lifestyle, it becomes such a nice thing.”

Q: How well do ski homes appreciate? “People who bought here pre-Covid have seen prices go up 50% because these units are scarce. Mountains are environmentally sensitive areas. Water is a big issue, since we have world-class fly-fishing streams, so you can’t produce unlimited wastewater. It’s not easy to get new projects entitled in mountain communities. That’s what makes them special, that you can walk out your door and hit 50 miles of wilderness.”

Q: What are the challenges? “The maintenance can be rough. Pipes can freeze. Bears can break in. It’s important to hire a property manager if you’re not there. It can also be challenging in remote markets to find contractors.”

Q: Any advice on finding a good ski home? “One of the things I always look at is the shape of the roof and where the snow is going to fall. Make sure it doesn’t drop on decks, hot tubs, or where people are exiting the house; my wife got hit with snow falling off the roof in Tahoe. We’ve also seen more geothermal ground-based heating, which is expensive up front but lowers propane bills. Whole-house humidification can also make you a lot more comfortable; there’s a big difference between humidity of 28% and 12%.”