# Is anyone familiar with Canmore R-E investing



## TomB19 (Sep 24, 2015)

We are kicking around the idea of moving to Canmore. The idea would be to rent the place in winter when we travel.

Is anyone familiar with that market? Property managers, services, etc.?

I could use some broad based information to help discern if this idea has any value.


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## AltaRed (Jun 8, 2009)

Not directly, but most places are empty in winter, except the Xmas period. You will likely have a hard time getting a winter tenant..... and if so, it could be 'flown in' young ski hill help who may ski right into your front door. 

Silvertip is probably a better place to be with more sun likely there. Much of the Three Sisters side is tougher from a sun perspective.

I'd also talk to town office people about winter vacancy issues.


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## twa2w (Mar 5, 2016)

Canmore has lots of odd rules about rentals. Make sure you are aware of the rules that apply to your particular home. 
Depending on where you currently live and where you buy in Canmore, some people find it claustrophobic.( high mountains on each side) 
Summers may not be what you expect. About 150 frost free days a year.
Be prepared for expensive food. Some basic items are double what prices are in Calgary.
As AR says, you want to be on the sunny side.
Don't forget about Harvie Heights, which is not part of Canmore, when you are looking.
There is lots of great hiking, mtn biking in the area and a kinda cool youthful mountain town, coffee house atmosphere that may get old fast esp when streets are clogged with tourists.
There are great doctors and health care in Canmore and Banff. Esp orthopeadic surgeons.. There is also a great community fitness/ swimming/climbing wall facility.

Not the best guide but perhaps some Info in link with names of the bigger players.

http://canmoreabhomes.com/propertymanagement/


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## TomB19 (Sep 24, 2015)

Harvie Heights seems like a ghetto to me. We've checked it out. It's nowhere we're interested in living. That goes for parts of Canmore, also.

The homes that interest us in Canmore are extremely expensive. They would rent for a lot of money but I'm sure they have a ton of tax and I can imagine a property manager will want a huge cut of the rent.

Thanks for the link. I've heard some management companies bring 50% overhead. Suffice to say, we won't be spending over $1M on a house and giving someone else 50% of the gate.

This would only be added to the retirement menu if the house would carry itself. If it won't, I don't want the trouble of a huge house. I'd rather be in the equity market. We have a big house now and my wife hates it. I pushed us to buy it because it was a great deal and it stroked my ego.


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## ian (Jun 18, 2016)

We like Canmore and did consider moving there from Calgary for the same reason. We travel for several months in the winter and our condo would be available for rental.

We decided against it. Canmore is a little cooler in the summer and the sun appears to set earlier because of the mountains. So we nixed the idea. Besides, it is too far from Costco! Lots in the news lately about Canmore beefing up and enforcing bylaws on rentals. Don't know all the details.


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## AltaRed (Jun 8, 2009)

To emphasize Twa2w's comments above. it is not where I would want to live, even in the summer. Sunshine hours are short due to mountains and the nights are 'cold' at elevation. There is virtually no way to sit out in short sleeves after the sun sets. Wouldn't want too anyway with mosquitoes. 

P.S. We much prefer our warm calm nights in the Okanagan with virtually zero mosquitoes.


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## OnlyMyOpinion (Sep 1, 2013)

Replacing the 'n' with 'm' has been discussed - cram more.


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## nobleea (Oct 11, 2013)

Our good friends have a townhouse in 3 sisters. We visit with them a few times a year. It's great in all seasons.
It's an extended family thing and between all the brothers and sisters and the parents, I would guess it's empty maybe 4 weekends a year. They use it a lot.
They have a management co that looks after the place when they're not there. Not the best though, as I've pointed out that the CO/smoke detectors expired 3 yrs ago.
Canmore is very touristy in the summer. Still pretty busy in the winter. We would enjoy it more as a winter destination due to proximity to skiing. Even Kicking Horse is only a couple hours away.
The closest Costco is about an hour away.
3 sisters is pretty dead most of the time. Lots of out of town owners with lots of money.

Unless you have loads of money, or plan on living there 90% of the year, I would absolutely not buy.


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## kcowan (Jul 1, 2010)

I have a friend who owns there, and he goes there in the late fall/early winter before heading for Phoenix. He likes it but I think because he does not have to live there or rent it out.


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## tygrus (Mar 13, 2012)

The area can be crashy though at least it has been in the last decade. Ran up to insane levels and fell pretty hard.

But winter can be a dark place. Shave off a couple hours of sunlight a day there especially in winter and its a little tough to take. For a flatlander, the mountains can be claustrophobic. Why not just buy in calgary - more selection, better off season rental opportunities. You will probably be driving in there for something to do anyway.

If you are set on the mountains, columbia valley might be a better choice.


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