Houses for Sale in Canmore Alberta Canada
Buying real estate in Canmore comes with many benefits. The town contributes a lot through tourism in the province and provides the inhabitants with a magnificent place to live. Some of these benefits include:
Easy drive to Calgary downtown. The drive from Canmore to Calgary is approximately 1-hour commute. Its proximity to one of Canada’s largest cities attracts locals who travel from Canmore and commute to Calgary for their office jobs.
Nearness to Banff National park. It only takes 20-30 minutes to drive to Banff. Thus, it traps a large number of tourists going to Calgary from Canmore.
Low property tax rates. Canmore has a low property tax rate.
Freehold versus leasehold. Most of the real estate in Canmore is classified as freehold, which forms the most common property type. However, on the Banff side, nobody owns the land on which their property sits on. This makes the land less attractive upon resale.
Population and household income growth. Canmore has experienced steady growth in median and population income growth. This shows that future growth in Canmore will continue to flourish.
What are the main zoning classifications in Canmore?
There are four zoning types in Canmore AB real estate.
Residential zoning
This is a common type of zoning for buyers looking for a conventional home. Properties around this area include duplex, triplex, single-family residence, apartment, or townhouse. Homeowners live in the houses casually, full-time, or put up for long-term renting.
Visitor accommodation zoning
This zone is reserved for hotel-condo suites with limited personal use and is rented only for short-term stays. You can stay in these properties for a maximum of 30 nights consecutive. Most hotels fall under this classified zone.
Tourist home zoning
These properties are flexible. You can choose to live in it part-time, full-time, casually, or rent it for short-term and long-term. But, unfortunately, they are the most desired properties in Canmore, making them the most expensive.
Employee housing zoning
They offer the locals suitable and affordable housing. The councils keep a watch to ensure the unit does not operate as a short-term rental. It is ideal for locals who work for at least 20hours per week in Canmore.
Should you invest in a vacation rental in Canmore?
Operating a vacation rental in Canmore real estate is a wise and lucrative investment when done correctly.
How much can you earn from vacation rentals in Canmore real estate?
The amount varies, but the revenue from the vacation rental subsidizes home ownership costs. In most cases, the revenue generated exceeds the cost of ownership, leaving the homeowners with a good profit.
What is the zoning classification for a vacation rental in Real estate in Canmore, Alberta?
Vocational rentals fall in the tourist home or visitor accommodation zoning classification.
What types of buildings operate as legal rentals?
Even when in the correct zoning classification, you need to ensure the strata corporation allows your property to operate as a vacation rental.
Please contact Arbus Mountain Homes at 403-869-6200 for inquiries.
