Are you dreaming of a Rocky Mountain escape between meetings and uber rides?
Or are you thinking about what your retirement home looks like? A Mountain home is possible in Canmore.
Skiing down the slopes of Lake Louise and Sunshine Village Ski Resort, or Cross Country Skiing at Canmore’s Nordic Centre? Mountain Biking through the cross-country trails in Canmore and Kananaskis. Hiking as the sun comes up?
These dreams can be a reality!
Canmore is the best real estate value of any world-class ski resort town in North America. Whistler is as expensive as the city of Vancouver. Vail and Aspen are also catered to the rich and famous – needless to say, and they are not attainable for the average buyer. Canmore is also the closest by flight from Toronto.
Canmore and Banff have long been fantastic vacation getaways. What we have found in recent years is that many of our clients have been exploring vacation homes (and retirement options) in Canmore, Alberta. Some also dream of Banff, but the truth about buying a condo or house in Banff and living there lies here (note: you must have a need to reside in Banff National Park!) Canmore is the place to buy a home in the Canadian Rockies. The lifestyle is fantastic, and every adventure you can dream of awaits. The ease of travel is ideal, with the Calgary airport just over an hour from Canmore. The homes and condos are comparatively “cheap” compared to what the Greater Toronto Area offers, let alone cottage areas like Muskoka and ski resort towns like Collingwood and Thornbury. Some of our clients have purchased a home in Canmore as a long-term plan for retirement. They fly to Calgary and then to Canmore once a month – it’s quite a fantastic lifestyle!
When you compare a weekend drive to the cottage in traffic and a flight out to Canmore, the amount of time is quite similar. And frankly, we don’t know about you, but the idea of kicking back and watching a movie or catching up on some reading during a flight sounds more enjoyable than bumper-to-bumper traffic on the 400!
What’s It Like Living In Canmore?
Canmore Activities
As we alluded to above, Canmore is a world-class ski resort town. We aren’t kidding! There are four ski resorts within an hour’s drive from Canmore. Let alone all of the backcountry (touring) skiing that Canmore has access to. If paddle boarding and hiking are more our things, don’t worry; there are more trails out your backdoor than you could imagine. Spray Lakes and Quarry Lake are great stand-up paddle boarding spots. For those looking for a more leisurely activity, stroll along the Bow River in downtown Canmore or ride an e-bike to Banff along the Legacy Trail.
Top 7 Sports Activities To Do In Canmore
Seasons In Canmore
Canmore’s busiest season is Summer. This is when most tourists arrive from across Canada and the world. Summers are gorgeous in Canmore. The days are hot (and dry, don’t worry, there is next to no humidity like Toronto has.) Evenings are the ideal time to open windows and cool the house down. Summer evenings are typically around 15 degrees Celsius. We recommend shorts and a puffy jacket on summer evenings. The reality of mountain living is that the weather can change anytime. Some of our rock climbing and mountain climbing trips (yes, in the summer) have been snowed out. One day it’s 30 degrees, and the next, you have snow. It’s not common, but it is possible!
As for the winters in Canmore, these are long. So you must love winter activities (or learn a new one) to make it through. The Rocky Mountains look incredible, with snow-dusted from peak to base. Some people rent their homes out during the winter to ski families from Calgary and Edmonton (so don’t fret if winters aren’t something you love!) Another winter option is to cozy up to the fireplace and read all the mountain adventure escapism you can!
Canmore Community
Canmore and Banff are home to several great restaurants. The best one we can think of in Canmore is Crazy Weed – it would be a go-to in Toronto if they only had a location here! As Canmore is a mountain town, it almost goes without saying that there are some excellent cafes. It’s hard to beat the mountain vistas and a latte! Families love Canmore as there are endless activities for the kids. If it is too cold outside to play there, Canmore community centre (aka Elevation Place) is a great spot. Quiet dinners with family and friends are a pastime that never gets old in Canmore. It’s also worth noting that there is a great retirement community in Canmore; many high-achieving, successful people have moved to Canmore full-time post vocation. This makes for exciting conversations with the neighbourhoods. Many highly educated people from Calgary, Edmonton and Toronto, have homes in Canmore.
Investing In Canmore
Canmore Homes Compared
It may surprise people in Toronto, Oakville, Mississauga and the surrounding areas, but the cost to own a sizeable rocky mountain home begins at a reasonable price. We in Toronto have seen prices skyrocket over the last 15 years; this equity has allowed many of our clients to purchase seasonal homes, which has led to higher prices in the rural areas of Toronto. Interestingly enough, Canmore is the most “expensive” town in Alberta, but it’s a far cry from nice areas near Toronto. The value is excellent! Whether a mountain chalet or a mountain condo, there are myriad choices to suit your lifestyle. Canmore’s real estate is of incredible value to us. Ontarians are used to paying very high prices for real estate. Your money goes a long way in Canmore
➤ For more information on Canmore real estate, check out:
- Canmore Neighbourhood Guide
- 8 Tips When Buying An Investment Property In Canmore
- Investing In Canmore Real Estate
- Why You Should Buy A Vacation Home In Canmore
- Canmore Vacation Property: Condo Vs. House, Which Is Best For You?
- Buying An Investment Condo In Canmore
- Looking To Buy In Canmore?
Investing
Many homeowners in Canmore have seen incredible equity growth over the years. The secret about Canmore is out. People all across Canada love the Canadian Rockies! Because you can’t buy in Banff (more to come), Canmore is where nearly everyone shifts their focus. After all, Banff is only 20 minutes down the road (and Canmore is less touristy!)
Forget About Buying In Banff
Well, no one can actually forget Banff, it’s a beautiful town with fantastic people! In this case, forget about purchasing in Banff. You may have fallen in love with it, but because Banff is in Banff National Park, everyone who lives in town must have what is called “a need to reside” in other words, you must prove that you have a job in Banff National Park to live in town. This is why people fall in love with Banff and decide to buy in Canmore, as Canmore is outside the Parks boundary.
Foreign Buyer Ban
As of the date of this Canmore blog post, there is a 2-year ban on Foreign Buyers set forth by the Canadian Government. This may be extended further. What is essential for you is that you have a window of opportunity over the next couple of years to not compete with foreign buyers. This will likely release some of the competitiveness of the Canmore real estate market. Fewer high-end buyers from overseas means that prices will adjust and become more affordable from the already great value in Canmore real estate.
Canmore Property Management
Some great property managers in Canmore can assist with your Canmore investment while you aren’t in town. There is a solution: month-long, short-term, seasonal or longer-term rentals of your investment. Some property managers also offer a service to check the house weekly. This removes a hassle for most people looking to buy a property in Canmore despite living out of town or, in this case, across the country!
