Our friends at realestate.com.au have compiled a list of properties going cheap in Victoria’s favourite alpine hot spots (or should that be cold spots?) like Mt Baw Baw, Mt Hotham and Falls Creek.
This one-bedroom Falls Creek Country Club apartment, puts you right next to the gully chairlift for $179,950. Tempting, very tempting.
But for those who dare to dream of their very own ski chalet, be aware it can turn into a property nightmare.
Alpine buyers don’t have to look too far back in history to learn from the infamous no reserve auction of Falls Creek apartments developed by millionaire Morry Schwartz. Properties originally listed with million-dollar price tags sold for less than half that at auction. New studio apartments went for as little as $155,000.
If you do decide to take the plunge, consider these tips on how to cash in on your holiday home.