Real estate news for Canmore and Banff brought to you by RE/MAX Alpine Realty.

Canmore Real Estate for Sale will Soon be Subject to Vacant Home Tax

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Over the past few years, Canada’s cost of living has significantly increased. With the price of housing steadily on the rise and interest rates at all-time highs, affordability is a hot commodity. In Canmore, the average home price has gone up. So much so, that it is now rivaling major Canadian cities like Vancouver and Toronto. Because of this, the city is now looking for ways to tackle housing affordability and availability. In 2023, the Town of Canmore began to outline a housing action plan that would begin to find solutions to the housing crisis. More recently, recommendations were made to the town’s council on January 9th, 2024 about how to move forward. In this article, we will be going over some of the details about what’s to come for Canmore real estate for sale and housing affordability. Follow along below to learn more!

The Present Reality of Canmore Real Estate For Sale

Since the beginning of 2023, residents of Canmore have been grappling with a lack of housing availability and affordability. Locals note that many homes are often vacant during the weekdays. 2021 census data indicated that 26% of homeowners in Canmore did not live there full-time. However, it is difficult to pinpoint just how many part-time residents have homes in the town. 

While Canmore has long had the reputation of being a pricey place to settle, many individuals still choose to make it their home. Since 2006, the cost of owning a home in Canmore has gone up 65%. This is about 37% higher than the provincial average. This combined with the fact that more units are termed “tourist homes” than rental apartments, makes the situation even more challenging for permanent residents. In Alberta, the average full-time occupancy rate for housing is 92%. However, in Canmore this figure is substantially lower, sitting at 74%. 

According to CBC, “to keep up with population demands by 2030, a consultant calculated Canmore would need 2,156 units for full-time residents and 500 units to accommodate those with second homes in the town”. Evidently, there is much work to be done to meet the demand for housing and create more affordable opportunities for residents. 

Given this information, Canmore’s livability task force discussed several ways to help reach these goals.

Potential Solutions to Improve Affordability and Availability of Housing in Canmore

Removing Tourist Home Designations

Tourism, while important to the town’s economy, has caused an imbalance in the housing market. This phenomenon is not unique to Canmore, as many other provinces have been dealing with similar issues. For example, in British Columbia, new rules surrounding short-term rentals (STRs) have been introduced to create more housing options for locals. In Canmore, removing the tourist home designation would prevent new tourist homes from being approved after a set date. However, existing tourist homes would remain with this designation. Anyone who continues to operate STRs in Canmore after the date would face a commercial tax rate, regardless of whether the home is being used personally. 

Tax Tools to Support Locals

Another potential solution suggested by the tax force included introducing new tax tools to motivate people to live in their homes full-time. This would come in the form of a rebate program and those who do not qualify would face higher taxes. Officials note that higher tax rates would be introduced gradually so that the town can monitor how the real estate market responds. 

Purpose-Built Rental Incentives

Finally, it was suggested that purpose-built rentals receive some kind of incentive to encourage the development of new projects. Purpose-built rentals are properties that are developed with the sole intention of offering each unit as a rental home. This sort of housing has become increasingly popular in recent years as more young people look to find flexible housing options. One of the proposed incentives was a grant or tax relief program that would exempt new purpose-built rentals from 75% of municipal residential property taxes for 10 years. However, this will come with some conditions. 

Get in Touch Today!

If you are planning on buying or selling Canmore real estate for sale, get in touch today! We are happy to help you achieve this year’s real estate goals. 

Canmore is an incredible area to own a property. Reach out to Alpine Realty today! Learn more about all of the amazing opportunities that come with living in real estate in Canmore. For more information, feel free to message us with any questions or concerns about living in this amazing town. Be sure to check back next month for more real estate-related content!

We look forward to working with you soon! 

The post Canmore Real Estate for Sale will Soon be Subject to Vacant Home Tax appeared first on Alpine Realty RE/MAX Canmore.

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Vacation Homes for Sale in Canmore: 2024 Market Outlook

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Are you looking to buy or sell a property in Canmore in 2024? If you are, you must have all of the information before starting to chip away at this year’s real estate goals! Homes for sale in Canmore and Banff make great lifetime investments. With access to such incredible outdoor amenities and a strong sense of community, it’s no surprise that so many Canadians want to call these towns home. To help you get started with your new year’s real estate goals, we decided it would be best to provide you with a 2024 market outlook. Here, you will find key information about national trends, local insights, and a general idea of what to expect from the market this year. Follow along below to learn more!

Trends and Insights on the 2024 Canmore Real Estate Market

To get a complete understanding of the real estate market in Canmore in 2024, we must examine national trends and their impact on the local market. Recent market forecasts released from RE/MAX and Royal LePage have indicated that Canada will return to near-normal conditions in the months to come. Moreover, the Canadian aggregate home price is anticipated to rise by 5.5% year-over-year to $843,684.

As for interest rates, most experts predict that the Bank of Canada’s key lending rate will remain stable at 5% through the first half of 2024. During the second half of the year, it is expected that modest cuts will be made by the central bank. For this reason, several lenders are already offering discounts on fixed-rate mortgages. This year will likely mark the start of a general acceptance from Canadians towards the new normal for interest rates. For those looking to enter the market, 2024 could present more stability and affordability compared to previous post-pandemic years. 

Major housing markets in Alberta like Calgary and Edmonton are gearing up for a year of high demand. With home prices in provinces like Ontario and BC as high as they are, affordability is hard to come by. Because of this, 2024 will see numerous move-over buyers relocate to Albertan cities. Increased numbers moving to the province could bring more demand to recreational markets like Canmore and Banff. Inventory may become stringent as a result of the influx of new residents looking for places to call home and investors looking to capitalize on cheaper real estate. 

Buying and Selling Vacation Homes for Sale in Canmore in the New Year

Canmore’s epic location in the Rockies has long attracted those seeking a mountain retreat or second home. The town’s proximity to Banff is an added benefit that makes Canmore such an incredible destination. Whether you’re looking for a permanent home or a recreational property, Canmore has plenty to offer. In 2024, the demand for second homes and vacation properties is expected to remain strong. Nearly 40% of the Canmore housing market was made up of recreational properties in the fourth quarter of 2023.

Despite rising interest rates, buyers looking for vacation homes in Canmore have not been dissuaded. In fact, most buyers coming to purchase properties in the area are buying houses without financing. The continued demand for properties in Canmore has resulted in local home prices growing steadily. Canmore’s median home price for recreational detached properties is roughly $1.7 million. On the other hand, recreational condos are sitting just below $700,000.

At the end of 2023, Canmore’s Town Council approved a 7.6 percent increase in municipal tax for the new year. This was done to collect $77 million to run all municipally-led tax and utility-supported services in the area. Consequently, for homeowners who own a property in Canmore valued just under $1M, the annual tax increase would be approximately $150. Between new mid-single-digit interest rates and higher taxes, buyers should be wary of the cost of living. In markets like Canmore where properties are largely comprised of luxury vacation homes, affordability is hard to come by. 

Contact us Today!

If you are planning on buying or selling homes for sale in Canmore, contact us today! We are happy to help you achieve this year’s real estate goals. 

Canmore is an incredible area to own a property. Reach out today to learn more about all of the amazing opportunities that come with living in real estate in Canmore. For more information, feel free to message us with any questions or concerns you have about living in this amazing town. Be sure to check back next month for more real estate-related content and visit our social media page!

We look forward to working with you in 2024! 

The post Vacation Homes for Sale in Canmore: 2024 Market Outlook appeared first on Alpine Realty RE/MAX Canmore.

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Tips on Moving to Houses for Sale in Canmore!

Moving to a new neighbourhood can be daunting. However, with the right preparation, relocating to a new area can be a breeze! If you can afford to, using a professional moving service will help take a lot of the burden of moving off of your shoulders—both literally and figuratively. But, what happens once you’ve settled in? How do you make friends? How do you make your new neighbourhood feel like home? In this article, we will be going over our top tips for relocating to houses for sale in Canmore. Below we cover essential advice on how to transition from your old home to your new home, make friends, and get familiar with your new location. Follow along to learn more!

What to do When Relocating to Houses for Sale in Canmore?

Forward Your Mail/Update Your Address

When moving to a new home, it is important that you forward your mail to your new address. This way you avoid any letters or packages arriving at your old home. In addition, you’ll want to change your address listed on any subscriptions like food delivery services. You’ll also want to update this field with your healthcare practitioners, veterinarian (if applicable), government accounts, and any other places/services where your address is required. It’s best to do this step 2-3 weeks prior to your move. 

Take Security Precautions

After you’ve moved into your new home, it is important to take a few safety precautions. Even if you are living in a place as safe as Canmore. After being handed over the keys to your new home, you should visit the local locksmith and change all of the locks on the doors and windows of the home. After all, you never know who the previous owner may have given a key to. In addition to this, you may consider installing security lights, a camera, or a household alarm for added protection. Simply having these devices installed can be enough to deter suspicious personnel. 

Figure out Local Utilities/Services

Moving to a new home means getting familiar with the local utilities and services. For instance, when you move, you’ll need to get in touch with a new cable and internet provider. You’ll also want to determine who your electricity, water and gas providers are. This way if you have any questions or concerns, you know who to reach out to. Lastly, you will want to figure out when garbage day is and where to take your recycling.

How to Make Your New Neighborhood Feel Like Home

Meet Your Neighbours

In order to make your new neighbourhood feel like home, it is best that you get to know the people living there. Meeting your neighbours and exchanging pleasantries is a great way to bond with those around you. Plus, if you’re moving from out of town, making friends with your neighbours is a good idea. This way if you go out of town, they can watch over your home or help you out in the event of an emergency. So, don’t be afraid to say hello and introduce yourself next time the opportunity arises!

Throw a Housewarming Party

Another great way to get used to your new area is by throwing a housewarming party! Housewarming parties provide an informal opportunity for you to meet people in your neighbourhood. Send out invites to your neighbours, parents at your kids’ schools, coworkers and any other people you want there. A great housewarming party provides you with the chance to relax after a tiring move and get to know your new area!

Resume Your Normal Routine

One of the best ways to get adjusted to your new home is by falling back into your old routine—whatever that may look like. The process of moving can easily disrupt your regular schedule. However, it is important that you jump back into this routine so that you and your family can settle in faster. To get back on track, make sure you’ve unpacked everything and set things up how you want them. This will make it simpler for you to shift your focus from moving to getting back on track. 

Contact us Today!

If you plan on relocating to houses for sale in Canmore, contact us today! We are happy to help you out during the moving process. Canmore is an incredible area to own a recreational property. Reach out today to learn more about all of the amazing opportunities that come with living in real estate in Canmore. For more information, feel free to message us with any questions or concerns about living in this amazing town. Be sure to check back next month for more real estate-related content and visit our social media page! We look forward to working with you in the near future! 

The post Tips on Moving to Houses for Sale in Canmore! appeared first on Alpine Realty RE/MAX Canmore.

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All About Buying a House for Sale in Banff

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Owning a house for sale in Banff is a desirable investment for nearly all Canadians. With endless amenities and jaw-dropping, 360-degree views, it’s no wonder that so many people want to call Banff home. But, how does one acquire real estate in Banff? And, is it really all that worth it to make Banff your permanent home? In this article, we hope to answer all of your most common questions about buying a house for sale in Banff. Follow along below to learn more about real estate in this famed national park. 

Why Choose Banff? The Pros.

  1. Outdoor Paradise & Lots to Do

One of the best advantages of living in Banff is that you get to experience its outdoor landscape every single day. For example, head to one of Banff’s numerous renowned ski hills like Norquay or Sunshine Village for an afternoon of hitting the slopes. Or, take your pick of one of many hiking, biking and running trails and explore the environment around you. Besides the paradise in your backyard, Banff is a cure-all for boredom. Since it is a tourist hotspot, there’s always something to do—especially, if you love being outdoors!

  1. Sense of Community

Another perk of living in Banff is the incredible sense of community. Since living in Banff is no easy feat, there is a very minimal permanent population. This helps to foster a tight-knit community.

  1. Great Business Economy

As you may have suspected, Banff’s biggest economic driver is tourism. Tourism is the primary factor in why the Banff economy has been able to do so well over the past few years. 

Why Not to Choose Banff? The Cons.

  1. Need to Reside Clause

The Need to Reside clause is something that all prospective buyers must understand. The government of Alberta has made it incredibly difficult for just anyone to purchase property in Banff. This is all with the goal of preserving the natural environment. However, unfortunately, this pushes out even the most well-intentioned buyers. In order to satisfy the Need to Reside Clause, you must have an active or planned business within the town, a blood relation to another person in the town, or have lived in the park since 1981. 

  1. Abundance of Tourists

Banff is a lot of things, but big isn’t one of them. This small mountain town gets millions of visitors every year, during all seasons. If you aren’t into the tourist town vibe, then perhaps Banff isn’t right for you. 

  1. High Cost of Living

In addition to all of this, Banff also boasts a high cost of living. Its desirability and prestige make Banff real estate in high demand. So, naturally, you can expect the price of housing and everything else to be above average. 

How to Buy a House for Sale in Banff?

Buying a house for sale in Banff is no easy feat. And, buyers must understand that owning a home in a national park like Banff comes with some caveats. So, let’s say that you meet the Need to Reside Clause and are able to now purchase a property in Banff: how do you do it? 

Well, buying a home in Banff is similar to buying a home anywhere else in Canada—with the exception that all properties in Banff are held in a leasehold title ownership. This means that those who buy a home in Banff will only have ownership over the structure(s) on the property, but not the land itself. Contrastively, when you buy a home in other cities in Canada, your ownership is generally fee simple. This allows you to own both the land and buildings on it. 

Who Can Live in Banff?

The only people who can live in Banff are the ones who are eligible by the Need to Reside clause. Some of the reasons that you may be permitted to live in Banff include:

  • Business owners who operate a business in the park that is necessary for day-to-day operations
  • Those who live in the park for five successive years directly before they retire. 
  • Anyone who is a full-time student at a school within the park
  • Any person who is a spouse, common-law partner, or dependent of an employee of the park
  • Anyone who has primary employment in the park

Contact us About Buying a House for Sale in Banff!

If you are interested in purchasing a house for sale in Banff contact us today! Banff is an incredible area to own a property. Reach out today to learn more about all of the amazing opportunities that come with living in real estate in Banff. For more information, feel free to message us with any questions or concerns you have about living in this amazing city. Be sure to check back next month for more real estate-related content and visit our social media page! We look forward to working with you in the near future!

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Banff Real Estate Blog Recap

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Over the course of 2022, we wrote several blog articles about all things real estate. With 2022 coming to a close, we thought it would be best to close out this year’s content with a blog recap. This way you can read over any articles you missed from this year. From real estate career information to tips about buying Banff real estate, we’ve covered a number of topics. In this article, we are going to be giving you a brief recap of our blog content from 2022. Follow along below to see what we wrote on our blog over the past year!

Banff Real Estate Blog Recap – Spring and Summer

Over spring and summer, our team brought a number of articles to our readers. From May to June, we wrote about topics like buying homes in Canmore and began a mini-series of tips for real estate agents. Below is a brief recap of each article from these seasons. 

May – Information About Real Estate in Canmore.

In this article, we went over all of the basics of what you need to know before moving to real estate in Canmore. Here, you can find information about amenities, demographics, location, real estate, and local tax. If you are looking to move to Canmore we recommend reading through this article to gain some insight into what life in Canmore looks like!

June – Tips for Buying a House for Sale in Canmore

Similar to our May article, our June blog post goes over several tips on buying a home in Canmore. Purchasing a home in this town is not a simple process. Especially, if you are an inexperienced buyer. In this article, we provide you with a short guide to buying a house in the Canmore area. 

July – How to be a Successful Canmore Real Estate Agent?

At RE/MAX Alpine Realty, we are interested in helping future real estate agents just as much as our buyers and sellers. Because of this, we decided to write a small series with content for real estate agents. Our first article in this series goes over the basics of how to be successful as an agent. 

August – Networking as a Real Estate Agent in Canmore.

In August, we continued our mini-series of articles for agents and wrote all about networking. Networking is an important part of being a successful agent. This article provides several tips on how to network and gives some insight into the importance of networking. 

Fall and Winter Recap!

Sept – Real Estate Careers: Setting Yourself Apart From Other Agents.

Our September blog article was centred around setting yourself apart from other agents. More and more people are entering the real estate industry each day, because of the opportunities and challenges that it presents. The volume of people who are making this their career means that you need to stand out from the crowd. Setting yourself apart from other real estate agents is essential in gaining steady business. In this article, we’ve listed a few of our top tips on how to stand out from the crowd as an agent.

Oct –  How do I Get More Leads in my Career in Real Estate?

October capped off our mini-series on real estate agent tips. In lieu of this, we wrote about one of the most challenging and important parts of being an agent: generating leads. When you start your career in real estate it can be difficult to generate leads. Especially, when the market isn’t working in your favour. However, it is important to develop tactics and strategies to ensure that you can generate leads no matter what the world throws at you. This article includes a list of ways that you can gain more leads in your real estate career. 

Nov – How to Make Real Estate in Banff More Sustainable?

Finally, we finished off the year with an article that will kickstart our environmental series. Sustainability is an important part of maintaining the pristine environment in Banff. From large-scale renovations to simple daily practices, there are plenty of ways that you can do your part in keeping the environment clean. In this article, we put together a list of strategies that you can employ to reduce your home’s carbon footprint. 

Contact us About Banff Real Estate Today!

For more information about buying or selling a home in Banff, contact us today! We’d be happy to help you find the perfect Banff real estate for the new year. Be sure to check out our social media for the latest news and updates. And, stay tuned to our blog for more real-estate-related information. We look forward to working with you in the new year! Happy Holidays everyone. 

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How to Make Real Estate in Banff More Sustainable?

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Sustainability is an important part of maintaining the pristine environment in Banff, Alberta. In order to keep things beautiful for future generations, it is vital that real estate in Banff is eco-friendly. There are many options to make your property sustainable. From large-scale renovations to simple daily practices, there are plenty of ways that you can do your part in keeping the environment clean. In this article, we have put together a list of strategies you can employ to reduce your home’s carbon footprint.

Follow along below to learn how you can transform your Banff home into a sustainable property. 

Big Solutions for Big Results. 

If you are looking to make a big change in your home’s energy efficiency there are a few ways to do so. However, these options do come at a cost. Despite the money invested upfront, people who choose to make the changes listed below are more likely to save money in the long run.

The first way that you can make your home more energy efficient is by adding solar panels. Solar energy is a great alternative to using traditional electricity in order to run your home. Moreover, solar panels allow you to be partially or completely energy-independent. Further, installing solar panels reduces the number of greenhouse gases emitted by your home. They also cut down the cost of your monthly electricity and power bills each month. Installing solar panels is a great way to save money and help out the local environment. 

The next way that you can help the environment, is by investing in energy-efficient appliances. For example, heat pumps, refrigerators, washers and dryers, and thermostats. It may not seem like much, but newer appliances are much better at regulating energy use and maximizing power. 

Furthermore, installing LED lightbulbs is another option for reducing your carbon footprint. Not only are LEDs better for the environment, but they also have a much longer lifespan than traditional incandescent bulbs. Using LED lighting in place of incandescent bulbs will save you money and make a greener impact on the environment around you. 

Lastly, by changing your faucet/shower heads, you can improve your water usage. In order to maximize your water use, you can install low-flow shower heads and faucet aerators. Both of these additions will help cut your water bill in half and lessen your heating bill. Take it one step further and hop on the cold shower train for even more environmental action!

Simple Tasks to Reduce Your Carbon Footprint for Real Estate in Banff.

Installing solar panels isn’t within reach for everyone, and we understand that. However, there are plenty of other ways that you can reduce your carbon footprint. And, most of them cost less than $100. That means that you can do your part even on a budget!

The first way that you can reduce your carbon footprint, is by creating a compost and recycling station. Composting is a fascinating process that allows you to maximize your food waste. To begin compositing you’ll need a compost bin where you can put all of your organic material (uncooked fruits, vegetables, meat, legumes, coffee grounds, etc). Eventually, this material will break down and turn into rich soil for gardens, landscaping, and more. Besides enriching your soil, composting minimize methane emissions from landfills. 

In addition, you can start a recycling station inside your home. All you need to start is three different bins. One for glass, one for paper/plastic, and one for miscellaneous items. Put your recycling station in your kitchen or the most convenient place for you, and practice separating your waste. This is a great way to help out the environment and the local landfill. 

Finally, individuals who are looking to become more eco-friendly in their homes can try these simple practices:

  1. Use reusable bags
  2. Buy some house plants
  3. Buy used items when you can
  4. Avoid unnecessary paper use (phone books, pamphlets, paper bills, etc)
  5. Use natural cleaning products
  6. Buy products with minimal or no packaging
  7. Avoid paper towels
  8. Learn to love cold water
  9. Dry your clothes outside (weather permitting)
  10. Fix leaks and insulation

Contact us About Real Estate in Banff!

Banff is an incredibly gorgeous place to live. And, it is vital that residents do their part to keep the environment pristine. There are plenty of ways to make real estate in Banff eco-friendly. For more information about homes in this area, contact us today. We would be happy to help you find a home in Banff. You can also visit our social media page for the latest updates and more. We look forward to working with you in the near future. 

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Real Estate Careers: Setting Yourself Apart From Other Agents.

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Real estate careers are becoming increasingly popular. There are 258,054 people working in real estate in Canada. More and more people are entering the real estate industry each day, because of the opportunities and challenges that it presents. The volume of people who are making this their career means that you need to stand out from the crowd. Setting yourself apart from other real estate agents is essential in gaining steady business. In this article, we’ve listed a few of our top tips on how to stand out from the crowd as an agent.

Follow along below to learn more!

1. Focus on the Future.

Very few real estate agents look to the future when they build their marketing plans. Instead, most agents target their ad campaign toward current buyers. This is fine, however, by focusing on buyers that will be ready to purchase a home in 1-3 years, you can begin to establish leads months in advance. Furthermore, by getting in contact with future buyers, you can start to educate them about your brand, who you are, and the steps to take in order to prepare to buy a home. This way, when it comes time to buy a home, you’ll be their first choice! It is so important that you cultivate future buyers to keep business steady.

2. Real Estate Careers Require Unique Websites.

If you’re looking to stand out from everyone else with real estate careers, your corporate website isn’t going to cut it. In fact, this is a sure way to blend in with all of the other agents at your brokerage. In order to make an impact, you should consider investing in a website that is independent of your brokerage. This way you can focus on developing your brand, instead of the brokerages. Clients love a website that is easy to navigate and pleasing to the eye. Both of which aren’t always found on a free corporate website. Owning your own website will give you the opportunity to add special features that could help enhance the customer experience. For example, unique software plugins, videos, animations, a blog, and so much more!

3. Communicate Effectively.

Communication is everything as a real estate agent. When the market is hot you need to be in immediate contact with your clients. And, they need to be able to reach you when it is most convenient for them. Everyone has a different preferred method of communication. Whether that be texting, calling, E-mailing, etc. It is important to determine your clients’ ideal way to communicate with you. Establishing this from the get-go will allow you to have smooth contact with your clients. After all, it is critical that you are able to speak with them in real time. 

Lastly, before you begin working with your clients, it is important to establish available hours for communication. Find out when it is okay to call, text, or E-mail your clients. This way, you know when they will be most responsive to your messages. 

4. Offer To Help With Staging

Staging is one of the most difficult parts of selling a home for some people. But, staging can make a huge difference in the sale of the home. Even just staging one or two rooms can make all of the difference. Getting more than the asking price for your client’s home will certainly leave a good impression. So, offer to help them stage their property. Even if it is just small tips and tricks that will help renew the space. For instance, decluttering the walls and countertops, changing the colour of the paint, rearranging the furniture, or adding some greenery.

Meet with your clients about staging their homes. Or, refer them to a great staging company. Either way, empowering them to take these steps can result in better ratings for your services. 

5. Those With Real Estate Careers Need Good Referrals. 

Those with real estate careers need to have a list of good referrals. It is crucial that you are connected to several other businesses within the community. Especially when dealing with buyers. Finding an inspector, mortgage broker, financial advisor, contractor, etc, can be a huge burden for a buyer. Take some responsibility off of their shoulders and provide a brochure of homebuying contacts that might be useful to your clients. Be sure to speak with the businesses beforehand, because they may be willing to give your clients a discount for your referral. 

Contact Us About Real Estate Careers Now!

Standing out from the crowd can be difficult for up-and-coming real estate agents. It is important that you make the effort to be different from your competitors. Whether that be through exceptional customer service, great market knowledge, or a helpful network. For more information on becoming a real estate agent in Canmore, contact us today. We’d be happy to help provide you with information about how to get started in the industry. Be sure to check out our social media for the latest updates and more. We look forward to working with you in the near future!

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Information About Real Estate in Canmore.

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Real estate in Canmore is exclusive to the right buyer. Canmore and surrounding areas like Banff have extensive protection for wildlife and parklands. Because of these heavy restrictions, buyers are carefully weeded out before purchasing real estate in these towns. Despite such measures, owning real estate in Canmore is undoubtedly something to brag about. The stunning mountains and fairytale landscapes are worth every penny. Canmore is ranked as one of the top places to live in Canada and is named one of the best mountain towns in North America. Discover important details about life in Canmore, Alberta by reading the article below.

Living in Real Estate in Canmore – What to Know?

Canmore is an exciting place to have a property. Recreational opportunities are endless no matter the season of the year. According to the 2021 census results, there are 15,990 permanent residents living in Canmore. This is a small number of residents compared to other cities in Canada. In addition, Canmore is located 66 miles west of Calgary and 12 miles east of Banff. Other neighbouring communities include Airdrie and Cochrane. The Town of Canmore offers some of the most beautiful scenery to work, live and play. All sides of the town are bordered by the towering Rocky Mountains, and cut through the middle lies the rumbling, Bow River. Moreover, Canmore is only a short hour and a half drive from Calgary’s city centre and mere minutes from Banff National Park!

There are over 71 kilometres of multi-use trails within the town, five major ski resorts, the world-class Canmore Nordic Centre, endless hiking opportunities and so much more. Canmore is truly an outdoor enthusiast’s paradise! Residents can take in the stunning views from a kayak, raft, canoe, or mountain face on any given day. The range of activities makes Canmore a thrill seeker’s dream destination. Furthermore, there are a host of culinary delights and extraordinary shopping options in Canmore. Despite its large economic base in Tourism, Canmore has kept its promise to create a town that is sustainable and environmentally sensitive. Small-town vibes reign strong in this eclectic mountain town in Alberta. 

Adventure through the breathtaking scenery by visiting some of the country’s best golf and ski hills. Courses like Silvertip and Stewart Creek have some of the best-golfing sceneries in all of Canada. Get a taste of each season when you own real estate in Canmore. 

Buying Canmore Real Estate.

Due to Canmore’s beautiful landscape, the cost of living is very high. Compared to most other places in the country, Canmore’s cost of living sits roughly 2% above the national average. While prices are high, it is worth the cost to own a property in this gorgeous town. However, it is important to keep in mind that housing is expensive in Canmore. The average home price in 2021 for a property in Canmore was about $1.1 million. This cost alone is enough to deter the average buyer. This makes Canmore an exclusive place to live if you love the great outdoors. Although the average price may seem high, it is not uncommon to find housing below $1 million on the outskirts of the town. However, the closer you are to downtown Canmore, the more you can expect to pay. 

Renting is also a viable and very common option in Canmore. Yet, the cost of rent is still much higher than in other cities in Canada. The average price for a two-bedroom apartment resides within the $1,700 to $1,900 range. However, this rate does change depending on the location, amenities, size, etc. 

Furthermore, Canmore has some of the lowest property tax rates in the province of Alberta. Despite such low property tax rates, the cost of real is significantly higher. Thus, causing upward pressure on the cost of property taxes. Also, there are four common types of zoning in Canmore. These include residential, visitor accommodation, tourist homes and employee housing. Real estate in Canmore is mostly freehold, unlike Banff where all properties are leasehold.

If you are planning on purchasing real estate in Canmore, it is important to factor the high cost of living into your budget. 

Contact RE/MAX Alpine Realty Today!

If you are interested in purchasing real estate in Canmore contact us today! Canmore is one of the most beautiful places in Canada to own a property. Reach out today to learn more about all of the amazing opportunities that come with living in real estate in Canmore. For more information, feel free to message us with any questions or concerns you have about living in the area. Be sure to check back next month for more real estate-related content and visit our social media page! We look forward to working with you in the near future!

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