Buying a Home in a National Park

Buying a Home in a National Park

Considering living in Banff Alberta? Did you know that the entire area is a National Park? There are rules about living in a national park but it’s not impossible. Many people live their entire lives owning a home in the Banff National Park area and there are beautiful investment homes and rentals but there are stipulations and conditions.

So how can you own a home in a National Park?

The Banff National Park was Canada’s first national Park first designated in 1885. It was originally known as Rocky Mountain Park and most of the land was returned to the federal government by Canadian Pacific Railway. Throughout Canada, there are two main types of ownership: Fee Simple and Leasehold. The first, fee simple, allows the homeowner to own both the land and any buildings on it. A leasehold agreement is where the leasee enters into an agreement with the actual landowner for use of the property, which is pretty common throughout Banff. The Banff National Park is federally owned land so all the properties throughout the area are held in a leasehold title ownership.

Most of the properties in Banff are under a leasehold agreement on a 42 year term. Most of the time these leaseholds are renewed automatically. The lease fees are typically rolled into taxes.

Who can live in Banff?

Only eligible residents may live in Banff. All residents of Banff must live and raise families in the community and meet eligible residency requirements. These include:

  • Primary employment in the park
  • Those that operate a business in the park necessary for day-to-day operations
  • An individual who lives in the park and for five consecutive years immediately prior to retirement.
  • An individual who is a full-time student in an educational institution located in the park
  • The spouse or common-law partner or dependent of an employee of the park.

Anyone can buy property and live in Banff as long as they meet the eligible residency requirements. The tenants or people actually owning and living in the property can live in Banff, which could involve a long-term monthly rental property or investment. A home-based business or bed-and-breakfast does not meet this eligibility requirement.

Can you retire in Banff?

In order to buy real estate or a home you still need to be an eligible resident. If you want to retire you must be a retired individual who resided in Banff at the time of the individual’s retirement and resided in the National Park on July 30, 1981. Or, a retired person who resides in the National Park and who for five consecutive years immediately prior to retirement was employed by the park or owned and operated a business in the park whose presence was required for day-to-day operations.

If you’d like to move to Banff, you’re probably doing so because you are working for the park, which is a great way to live right inside the national park. For more information on employment and living in Banff Alberta, contact my office today. We can run through some questions and find out your eligibility for living in Banff.

17 Properties
Page 1 of 2
5
Beds
3
Baths
1,692
Sq.Ft.
1989
Year Built
2
Days on Site
A1259097
MLS®
Whether you are looking for a family home with suite potential or multi-suite rental property this home has the flexibility you want. Each level can be self contained. The upper level Master Suite...
5
Beds
5
Baths
1,596
Sq.Ft.
1970
Year Built
4
Days on Site
A2003307
MLS®
LOCATION! Detached home in Tunnel Mountain district, takes advantage of an established and quiet neighbourhood, close to downtown. 5 bedrooms, 5 baths, detached garage and driveway!
3
Beds
3F11/2
Baths
3,051
Sq.Ft.
1993
Year Built
5
Days on Site
A2002726
MLS®
Post and Beam mountain style home with lots of space to entertain. Over 5,000 sq ft of fully developed living area including a walk out on the lower level. Main Floor features a private office, half...
1F11/2
Baths
715
Sq.Ft.
8
Days on Site
A2002914
MLS®
Turn Key condo located in central Banff. Great for a first time home owner! Loft plus office/den with upgraded finishes, complete with 1.5 bathrooms. This unit is one of two units in the building...
2
Beds
2
Baths
1,520
Sq.Ft.
1955
Year Built
14
Days on Site
A2002010
MLS®
AMAZING corner location situated on a raised lot. Outstanding family home with an abundance of natural light, large kitchen and dining room, living room with gas fireplace located close to...
9
Beds
4F11/2
Baths
2,604
Sq.Ft.
1979
Year Built
22
Days on Site
A2001120
MLS®
Excellent Revenue Property Close to Downtown Banff! This duplex would make an excellent staff accommodation or owners could live in the back unit and rent out the rest of the home! This property must...
3
Beds
2
Baths
1,438
Sq.Ft.
1997
Year Built
30
Days on Site
A2000553
MLS®
Open concept living with over 1400 sq ft split over two levels. This three bedroom / two full bathroom condo will not last long. A few steps away from downtown and around the corner from Banff's best...
2
Beds
2F11/2
Baths
991
Sq.Ft.
1993
Year Built
31
Days on Site
A1243321
MLS®
This updated 1,685 sq ft 2+ bedroom stunning townhouse is located in Tatanga Ridge 1 & offers spectacular views. The living room features a corner gas fireplace and a wall of windows that bring the...
3
Beds
2F11/2
Baths
1,731
Sq.Ft.
1992
Year Built
46
Days on Site
A1251878
MLS®
Completely Redesigned and Renovated Custom Alpine Home in Desired Family Location on Quiet Cul de sac close to the Iconic Banff Springs Hotel and Beautiful Bow River! This dream home must be seen to...
2
Beds
1
Baths
1,269
Sq.Ft.
1930
Year Built
105
Days on Site
A1230843
MLS®
Developers Dream Lot! This 8500 sqft lot located in the RNC district that has back alley access and tons of sun allows for duplex, triplex, four-plex housing as permitted uses. These types of lots do...
5
Beds
3F11/2
Baths
2,995
Sq.Ft.
1912
Year Built
119
Days on Site
A1225093
MLS®
Excellent revenue property or family home with a superb location plus income options with over 3,300 of developed living space. Entering the home, you find warm heritage charm and character with...
8
Beds
3
Baths
2,061
Sq.Ft.
1968
Year Built
127
Days on Site
A1222655
MLS®
Substantially renovated with recent addition this large duplex is in a quiet location close to downtown and shows excellent revenue! This home is ideal for a growing family or for a long-term rental...

Post a Comment