Canmore, in my mind, is the quintessential mountain town - active people (physically, politically and environmentally), great trails for all mountain sports, aspiring young Canadian National athletes, World Class sports facilities such as the Canmore Nordic Centre, fantastic restaurants, coffee shops and stores to fit everyones curiosities. We also have eight Real Estate brokerages in our town, a testament to how popular Canmore has become and how qiuckly it has expanded over the past several years. Canmore Property has been constructed at breath taking speed over the past few years with a large portion of the new construction being hotel or recreational condos to cater to the increasing vacation property owner and tourist traffic staying in our town for one or two nights at a time.
When I talk about Recreational property in Canmore I mean condos that you cannot live in full time. These condos have restrictions of use tied to them but allow you to rent the condo out by the night to generate revenue and offset some of the monthly costs that are associated with condos. In Canmore the restrictions of use allow you to spend 28 days at a time in your condo before having to leave for at least a night before returning for a second 28 days of use. You are not restricted to how many 28 day periods within a year that you can use the condo for, but the more you use the condo, the less you allow it to generate revnue for you.
Recreational Condos have great appeal for people looking for a vacation condo in the Canmore Property market. The Canmore Property market is an expensive market to purchase a vacation home in and recreational condos are a great option for an affordable vacation property that generates revenue to help out with the monthly fees. Along with affordability recreational condos tend to have a full set of ammenities such as outdoor heated pools, hot tubs and fitness facilities, some even have meeting rooms, business centres and spas. One point to remember is that the more amenities your building has the more your monthly condo fees will usually be. Year round outdoor heated pools and hot tubs are a very nice amenity to have and use, and potentially attract more people to stay at the complex, but they are very expensive to heat, especially through the winter months. Our recreational property market has seen the effects of the Global Slowdown and prices have dropped substantially from their peak in 2007 and currently represent a great buy if you’re looking for your own peice of Canmore to stay in for the weekend. Whether Skiing, Biking, Hiking, Golfing, Climbing, Mountaineering or just enjoying Canmore for the restaurants, art galleries or specialty stores, having your own recreational condo is a great way to invest in the real estate market, generate some revenue and have you own piece of Canmore to enjoy at your leisure.