Chamonix studio renovation - build thread

[Gruffy]

It's pretty clear from the second week of March onwards. The easiest way is to just report the airbnb link to the live calendar https://www.airbnb.co.uk/rooms/4120521 People are typically booking 1-4 weeks in advance, so there's still plenty of availability at this stage. Given the high occupancy rates I'm prioritising longer bookings. I've had to turn down most weekend requests as it makes it much harder to fill the dates either side.

[Gruffy]

If it's a Sat-Sat ski week, or midweek, then I can offer PH rates but it's already in good demand at these prices so bit difficult to offer much in all honesty.

[Gruffy]

Summer in Chamonix is 20% busier than winter, so I don't imagine there'll be much let up. Early summer is quieter, along with late autumn, but I really like Chamonix during those periods so I'll use them myself. Probably gather some mates for a bit of cycling.

I've blocked out a couple of short visits for us, which is easy to do now that we have a place to squirrel away our kit. We flew in last weekend - hand luggage only - and had an awesome time. It feels like a proper home-from-home, which means we can relax as soon as we step in the door. When we bought it was only because renting a place for our one-off season seemed like poor value. Anything else is a bonus from here.

The apartment has definitely turned out to be a solid investment and the renovation seems to be paying good dividends. It's very tempting to do another.

[Gruffy]

There's a bit of getting used to the French system but it's not too onerous once you're up to speed. I personally wouldn't want to put all of my eggs into a Euro-priced basket as I'm quite pessimistic on the Euro, long-term.

Drop me a PM if you want to chat on the finer points

[Gruffy]

Chamonix makes good sense. It's a proper town that just happens to have great skiing. It's world renowned and for a lot of the visitors there really is no substitute for the terrain that Chamonix offers. It's also even busier during the summer. Plus, with the high altitudes it's going to remain one of the most snow-sure resorts for the foreseeable future.

As for the weekend question: if I don't currently have a booking for days during the weeks before and after then I'm not going to entertain weekend bookings until the week itself. I wait for week-day or full-week bookings first and then fill in the gaps around those. It's only been two months but (at these prices, at least) demand is high enough that this approach has worked well. The longest unoccupied period I've had is 4 days so far. With airbnb people only seem to be booking 1-4 weeks in advance so I don't worry too much if it's looking quiet.

[Gruffy]

I have a dream setup. Last summer I had two tenants (friends of friends) and they now manage the turnarounds. They know the place like only a previous tenant could and they're really reliable and do a great job.

[Gruffy]

Du1point8 said:

can you get a floorplan?

Thats what I hate most, not being able to envisage it off a few photos that overseas right move don't do or seem to want to do.

The floor plans will be identical to my original, except for the mezzanine floor being extended to the window to divide the space into two small bedrooms.

I'm talking to three different parties (including a PHer who followed the thread) interested in buying similar properties and having me design, source and manage the renovations, probably this autumn. I'm also having my apartment valued tomorrow so that I can complete the equation and see just how much value was added.

[Gruffy]

I'm there now. It's a bit blowy today so instead it's lunch with a view.

[Gruffy]

Marcellus is likely to have a better insight than me. I've only been to St Gervais once and wasn't paying much attention.

Call it prejudice but I was desperate to avoid using local tradesmen when I did this renovation. "Half the speed, half the quality and twice the cost" was the general advice I received.

[Gruffy]

Four different people have been in touch about having me renovate more properties for them and the first one committed this evening. I'm genuinely quite excited about designing more apartments.

I'm getting married in the valley on the 5th September and after a short mini-moon in the Dolomites I'll be shipping Mrs Gruffy back to the UK and sticking around to manage the renovation(s). With luck one or two more will commit and I can tackle a few in succession.

I spent some time last week talking to local agents and have found two more properties that I think are priced well for the potential they have. One of them is a 25sqm studio at €98k which I could be tempted with myself if none of the guys I'm talking to go for it.

Exciting times.

[Gruffy]

You have it right. There's tax to the French and then UK taxes to be paid when you bring it back, less what you've already paid in French taxes. I don't belive a particular level of owner-occupancy changes the numbers though, but I'm not 100% sure on that.

[Gruffy]

The place has been booked solid most of the year. We used it briefly when we got married in Chamonix in September and now we have tenants using the place from Sept-Dec until the winter season begins. Christmas and NY week are already gone and now that winter is arriving I'm expecting the peak weeks to start getting picked off.

I've had a few enquiries from other owners about doing similar renovations again. I was a bit gutted it didn't quite work out this year but we'll see.

We're off to Whistler for Christmas & NY and I'm researching for a Japan trip in Feb. We may not even get to visit Chamonix this season. Totally cool with that though as it simply makes the place easier to let out. It more than pays for itself if you manage the letting well.

Here's hoping El Niño gives us a great winter, wherever you're all spending it!

[Gruffy]

It's considerably closer. The prices vary quite a lot between countries. Appliances in Switzerland were frighteningly more expensive, but the units were cheaper, assuming you weren't asked to pay the TVA top-up when crossing the border back into France.

[Gruffy]

If I remember correctly they won't even deliver to Chamonix, despite being closer.

[Gruffy]

Yes, the apartment is rented out on airbnb throughout the year.

https://www.airbnb.co.uk/rooms/4120521

[Gruffy]

After three years the apartment is, reluctantly, for sale http://www.agence-montagne.com/offer-vente-355 It's been a hit on airbnb and is paying for itself quite handsomely, even with us using it at peak times. As much as I'd like to keep it I'm going to need the money for my next project: a four-storey early Victorian townhouse renovation. That build thread has just started. I'm sticking to design and project management this time around, so it may contain less swearing than this thread did. We'll see.

[Gruffy]

Now on Rightmove, because I have a whopper new project in London.
http://www.rightmove.co.uk/overseas-property/prope...

[Gruffy]

I had a Facebook message from somebody relating to this, but it's disappeared into the ether. Whoever it was, feel free to reach out again; I'm not ignoring you.