Is a Condo in Canmore a Good Investment?

Buy a condo in CanmoreChoosing where to buy real estate in Canmore, and what type of real estate to buy, requires an informed strategy. You will find a beautiful selection of condos in Canmore, ideally suited for both investment properties and personal residences. 

Are you wondering if a condo in Canmore is a good investment? We can help you find what you are looking for, so contact us any time to learn more. In the mean time, here's what you need to know about choosing to invest in a condo. 

What qualifies as a condo?

A condo is technically defined as a single privately owned unit within a building or community of units. In some cases, people use terms like townhome and condo interchangeably, but generally speaking a condo is comparable to an apartment, yet each individual unit is privately owned. 

Are condos more affordable?

Condos in Canmore are generally listed for a lower price per square foot than a single family home, with some exceptions. If you are looking to stick to a strict budget, you may find that opening up your search to include condos will increase your options substantially. 

As you consider the affordability of a condo, keep in mind that the ongoing expenses of owning a condo differ a bit from owning a single family home. Before deciding which is more affordable for you, take these factors into account:

  • Condos are lower maintenance, where exterior repairs, maintenance, and landscaping are generally not the responsibility of the homeowner
  • HOA fees tend to be higher for condos than single family home communities
  • The amenities offered by the condo community may eliminate your need for other expenses, like gym memberships

What questions should I ask before buying a condo? 

As you determine whether to invest in a single family home or a condo in Canmore, start by identifying your goals for the property. Are you planning to own it for decades, or leverage it as a stepping stone to another investment? Will this be your primary home, or are you looking to list it as an investment property? 

Other questions you should ask before buying a condo include:

  • Does this condo community allow short term vacation rentals, or long term rentals? The answer to this may be a pro or a con, depending on your plans for the property. 
  • What amenities are included, and what is the process of raising the HOA fees to access these? Understanding the financial strength of the condo association and how frequently they are allowed to raise rates for homeowners will help you plan for the future.
  • How is the land around this condo community zoned? With new development taking place in Canmore, pay attention to what might change about the location of the condo.

Is a condo a smart investment?

There is a common myth that many have heard, stating that buying a condo is not as smart an investment as buying other real estate. This is oversimplified, and not always the case. The most important factor in making sure your investment in a condo is smart is getting all the information you can. Understand the desirability of the condo location, the expenses associated with ownership, and the ways you are allowed to leverage the investment (such as listing the condo as an income property). Working with an experienced team of real estate professionals you can trust is essential in making a smart investment, negotiating the deal, and understanding all the elements of a contract before closing on your purchase. 

Ready to find out more about investing in a Canmore condo? We are here to help. Contact us any time to learn more!

38 Properties
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3
Beds
2F11/2
Baths
1,945
Sq.Ft.
2022
Year Built
1
Day on Site
A2085001
MLS®
This 3 bedroom, 3 bathroom townhouse has everything you need. Open concept living area with amazing views. Quartz counter tops, stainless steel appliances in the kitchen which faces the living room...
$795,000
Neighbourhood: Hospital Hill
3
Beds
2F11/2
Baths
1,075
Sq.Ft.
2007
Year Built
6
Days on Site
A2083912
MLS®
OPEN HOUSE SATURDAY 1-4PM. Welcome to your dream mountain retreat! This stylish 3 bed, 3 bath townhome offers the perfect combination of comfort, convenience, and jaw-dropping design. Located just...
$874,000
Neighbourhood: South Canmore
2
Beds
2
Baths
1,029
Sq.Ft.
1995
Year Built
7
Days on Site
A2082966
MLS®
This bright and inviting condo checks all the boxes and hits the sweet spot in the market right now. It offers just the right amount of warm woodwork inside, with modern touches, vaulted ceilings...
$1,128,870
Neighbourhood: Silvertip
2
Beds
3
Baths
1,896
Sq.Ft.
1995
Year Built
9
Days on Site
A2083268
MLS®
These are the views you have been dreaming about! Upon entering this 2715 sq ft 3+ bedroom, 3 bath open plan you will be amazed by the panoramic mountain Peaks vista and immense valley views through...
$1,047,900
Neighbourhood: Bow Valley Trail
3
Beds
1
Baths
830
Sq.Ft.
2023
Year Built
10
Days on Site
A2083032
MLS®
Discover the enchantment of the Rockies from this exquisite brand-new property featuring unobstructed southern mountain views. Situated in Canmore's latest gem, Skyline Peaks, this 3-bedroom + 1....
2
Beds
1
Baths
727
Sq.Ft.
1993
Year Built
10
Days on Site
A2082731
MLS®
This two bedroom one bathroom condo features a large deck with a gas barbeque outlet, cozy corner gas fireplace, secured separate storage for tools and gear, and forest views. There is an assigned...
$1,325,000
Neighbourhood: South Canmore
3
Beds
3F11/2
Baths
1,611
Sq.Ft.
2013
Year Built
12
Days on Site
A2082531
MLS®
Exquisitely remodelled, this South Canmore townhouse is an ideal blend of contemporary style and mountain esthetic. The spacious design with two bedrooms on the upper level and the third bedroom on...
$884,900
Neighbourhood: Bow Valley Trail
2
Beds
2
Baths
881
Sq.Ft.
2003
Year Built
15
Days on Site
A2081586
MLS®
We're extremely proud to present an opportunity for anyone wanting to own an amazing investment property in the Rocky Mountains. A place to hang your hat when you need some time outside hiking,...
$1,349,000
Neighbourhood: South Canmore
2
Beds
2
Baths
1,355
Sq.Ft.
2020
Year Built
15
Days on Site
A2081865
MLS®
SOUTH CANMORE LOCATION
Located in the Heart of Downtown Canmore a half block from Mainstreet this South Facing townhome is tucked into a quiet corner of the building. This bright /spacious...
$1,312,500
Neighbourhood: Bow Valley Trail
3
Beds
3F11/2
Baths
1,082
Sq.Ft.
2022
Year Built
20
Days on Site
A2080589
MLS®
Escape to the heart of Canmore's mountain paradise with this exceptional Airbnb/VRBO short-term rental opportunity. Located in Skyline Peaks, Canmore's newest and most sought-after short-term rental...
$1,365,000
Neighbourhood: South Canmore
3
Beds
3
Baths
1,522
Sq.Ft.
2006
Year Built
23
Days on Site
A2079803
MLS®
Located in the walkable neighbourhood of South Canmore, this 3 bedroom, 3 bathroom townhouse offers generous living space over 3 levels and views of the majestic Rocky Mountains. The open concept...
$1,649,000
Neighbourhood: Spring Creek
3
Beds
3F11/2
Baths
1,288
Sq.Ft.
2012
Year Built
25
Days on Site
A2079586
MLS®
Gorgeous Creekside Villa nestled along the banks of Policeman's Creek, in Spring Creek Mountain Village. This Mountain Modern upgraded open concept Villa boasts unobstructed mountain and creek views...

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