Canmore Real Estate BlogRecently posted or modified blog postshttps://www.canmoreabhomes.com/blog/Copyright CanmoreABHomes.com2024-03-18T11:23:53-07:00tag:canmoreabhomes.com,2012-09-20:22513Managing Multiple Vacation Rentals in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/multiple.jpg" width="450" height="350" alt="managing multiple rentals" title="managing multiple rentals" style="float: right; margin: 11px;" />When you recognize the opportunity represented by owning a vacation rental in Canmore, you may quickly be interested in multiple investments. In a market with such opportunity, investing in more than one property can diversify your passive income streams and offer a multitude of benefits. Of course it also requires more resources, but we can help you find <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a> that fit your investment goals, as well as tips for managing more than one rental at once. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time to get started.
Is Canmore a good place to invest in a vacation rental property?
Canmore is a prime location for vacation rentals. With its breathtaking mountain vistas, outdoor recreational activities, and proximity to Banff National Park, it's no wonder that many property owners are drawn to investing in vacation rentals in this picturesque town.
"If you're looking for an ideal place to invest in a vacation rental, it's hard to beat the potential in Canmore. You'll have tourists from around the world visiting throughout the year, creating a steady demand that leads many of our clients to enjoy consistently profitable properties." -<a href="https://www.canmoreabhomes.com/about/" target="_blank">Devin Stevens, Canmore Real Estate Group</a>
Using Technology to Manage Vacation Rentals
Embrace property management software tailored for vacation rentals. These platforms offer features such as centralized booking management, automated messaging, and integration with listing platforms like Airbnb and Vrbo. Utilizing such technology can streamline administrative tasks and ensure efficient communication with guests across multiple properties.
Smart home technology also plays a major role in making the management of multiple properties feasible. Explore your options and consider investing in technology for property monitoring, security features, keyless entry, energy efficiency, and guest communications to make the experience more efficient and pleasant for all parties involved.
Building a Reliable Local Network
Consider hiring local property managers, cleaning services, and maintenance personnel to oversee day-to-day operations at each vacation rental. Having a dependable support network in place can alleviate the burden of managing multiple properties simultaneously and ensure prompt resolution of any issues that may arise.
Protect your investment by prioritizing regular maintenance and upkeep of each vacation rental property. Schedule routine inspections, address maintenance issues promptly, and invest in upgrades or renovations as needed to ensure properties remain attractive to guests and maintain their value over time.
If you're serious about investing in multiple Canmore vacation rental properties, you need a team of trusted local experts that includes maintenance personnel, a housekeeping team, and <a href="https://www.canmoreabhomes.com/about/" target="_blank">local real estate experts like us</a>.
Why should I consider owning multiple vacation rentals in Canmore?
Any investment property is going to offer benefits, but owning multiple vacation rentals in one location comes with some distinct advantages.
Economies of Scale
Managing multiple vacation rentals enables you to benefit from economies of scale in terms of operational efficiency and cost savings. Bulk purchasing of supplies, shared marketing efforts, and centralized management systems can all contribute to lower overhead costs and improved profitability.
Personal Use
Owners of multiple vacation rentals can enjoy the flexibility of using their properties for personal vacations or getaways when not occupied by guests. This dual-purpose approach allows you to derive both financial benefits and personal enjoyment from your investment properties.
Diversified Income
Owning multiple vacation rentals allows for diversified income streams, reducing reliance on income from a single property. By spreading investment across multiple properties, owners can mitigate risks associated with fluctuations in occupancy rates or market conditions. While most of our clients find that they have consistently high occupancy rates and profitability, you will broaden your margins for inevitable vacancies due to repairs, personal use, or other circumstances when you own more than one property.
Appreciation Potential
Investing in multiple vacation rentals in a desirable location like Canmore, Alberta, offers the potential for increased property appreciation over time. As the tourism industry grows and property values rise, owners stand to benefit from capital appreciation and potential returns on investment. It's a simple principle: the more properties you own, the more you will profit from a growing market.
Managing multiple vacation rentals in Canmore, Alberta, requires careful planning, effective execution, and a commitment to delivering exceptional guest experiences. By leveraging technology, establishing clear policies and procedures, and building a reliable support network, owners can streamline operations and maximize the potential of their rental portfolio. Ready to <a href="https://www.canmoreabhomes.com" target="_blank">find your next investment property in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time.2024-03-15T04:45:00-07:002024-03-18T11:23:53-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:22412Perks of Buying a Home in Canmore in the Spring<img src="https://assets.site-static.com/userfiles/2549/image/Spring_HousE_Hunting.jpg" width="450" height="350" alt="Spring house hunting" title="Spring house hunting" style="float: right; margin: 11px;" />Are you planning to <a href="https://www.canmoreabhomes.com" target="_blank">buy a home in Canmore</a>? Whether you are looking at home for sale in Canmore to transform into a vacation rental property or a personal residence, springtime can be the perfect season for house hunting. We're ready to help you find you ideal property in this ideal location.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>. You might find that this spring is the perfect time to buy.
Spectacular Scenery
In spring, Canmore undergoes a remarkable transformation as the snow-capped peaks start to shed their winter coat. The landscape bursts into life with blooming wildflowers, vibrant greenery, and the gradual thawing of alpine lakes. This season provides an opportunity to witness the stunning contrast between lingering snow and emerging spring colors.
As you house hunt during the spring, you can encounter the local wildlife, from elk and deer to various bird species. Spring is a magical time in Canmore, and being able to see it in this glorious season will help you identify your ideal location in the area.
Weather is Ideal
Spring in Canmore brings milder temperatures, making it an ideal time for outdoor exploration. With the snow receding from lower elevations, hiking and biking trails become more accessible, inviting residents to venture into the surrounding wilderness. Whether you're an avid hiker, mountain biker, or simply enjoy a leisurely stroll, spring offers a comfortable climate to embrace the great outdoors and discover the natural wonders that define Canmore.
We know that your house hunting visit may not be designed around how you can enjoy the Canmore recreation and entertainment, but taking advantage of the location is actually key for choosing the right home for you. Many people find that they embrace a new lifestyle when moving to Canmore, and want to find a home that accommodates it. If you're investing in a vacation rental, it also makes sense to taste the vacation lifestyle in the area so you know what type of vacation home to design.
Real Estate Opportunity
Spring is a favorable time to explore real estate opportunities in Canmore. With the thawing of the market after winter, you may find a wider variety of housing options, from cozy mountain cabins to spacious homes with panoramic views, with an increased number of listings on the market. Whether you're considering a vacation rental investment or a personal residence, the spring season opens doors to a diverse range of properties that capture the essence of Canmore living.
Timeline for Vacation Rentals
If you're planning to invest in a vacation rental in Canmore, spring can be the perfect time to buy. You will be able to close on the home, furnish it, and get it listed before the main tourist season is over.
While people love to visit Canmore all year round, keeping local vacation rentals lucrative throughout the year, summer is often the busiest season. By purchasing a home in the spring, you'll still have time to take advantage of this busy season this year.
When you're ready to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">buying real estate in Canmore</a>, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a>. We're here to help. 2024-03-08T22:47:20-07:002024-03-08T22:58:28-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:22128Is Now a Bad Time to Buy an Investment Property?<img src="https://assets.site-static.com/userfiles/2549/image/invest.jpg" width="450" height="350" alt="Bad time to invest?" title="Bad time to invest?" style="float: right; margin: 11px;" />As you look for the right places to invest, owning an income property like a vacation rental is a popular option with serious potential. Higher interest rates and inflation have some would-be investors wondering if it's still a good ideal to be looking at things like <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a> as a viable investment opportunity. If you're wondering if you should <a href="https://www.canmoreabhomes.com/blog/how-to-determine-your-vacation-rental-property-budget-in-canmore/" target="_blank">buy a Canmore vacation rental,</a> we have some thoughts to help you decide if it's the right fit for your goals.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time if you'd like to talk more about the specifics of <a href="https://www.canmoreabhomes.com" target="_blank">investing in Canmore real estate</a>. In the meantime, check out these reasons that investing in real estate is still smart right now.
Is real estate a good investment right now?
Many potential investors are focusing on the current market conditions, perhaps a little more than they should. Of course there are more and less advantageous times to buy, but a long term perspective tends to be a much better way to make major decisions like this.
Real estate has historically demonstrated a tendency to appreciate in value over the long term. While short-term fluctuations may occur, the overall trajectory tends to be positive. This appreciation is driven by factors such as increasing demand, population growth, and improvements in infrastructure and amenities in the surrounding area. By holding onto real estate assets for an extended period, investors position themselves to benefit from the potential appreciation that can significantly contribute to wealth accumulation.
This truth is magnified in a market like Canmore, where demand is rising at a steady pace and growth is significant in the area.
What is the real income potential from a Canmore vacation rental property?
Rental properties offer a steady stream of income through monthly rental payments. Even during market downturns, rental income can provide a reliable source of cash flow, helping to offset ownership costs and contribute to long-term financial stability. The demand for rental properties in Canmore remains relatively constant throughout the year.
While there are certainly busier seasons in the tourist market in Canmore, it's a great place to visit any time and we see demand for rental properties 12 months out of the year.
Figuring out the income potential of your specific property requires taking many factors into account. You will need to <a href="https://www.canmoreabhomes.com/blog/how-to-determine-your-vacation-rental-property-budget-in-canmore/" target="_blank">narrow down your exact budget</a> and bottom line, and then we can find a property that is ideal for your goals. We also have a post on <a href="https://www.canmoreabhomes.com/blog/furnishing-a-canmore-vacation-rental-where-to-splurge/" target="_blank">what is worth splurging on in a vacation rental</a>, so you know where you can save some money and which features have the best ROI.
Is real estate in Canmore a good way to diversify your portfolio?
Including real estate in an investment portfolio provides diversification, which is a key strategy for managing risk. Real estate often behaves differently from other asset classes, such as stocks and bonds.
This non-correlation can help mitigate the impact of market volatility on the overall portfolio. Diversification not only safeguards against downturns in specific sectors but also enhances the potential for long-term growth.
Along these same lines, real estate has proven to be an effective hedge against inflation. As the cost of living increases over time, the value of real assets tends to rise in tandem. Real estate investments, particularly properties with the potential for rental income, can benefit from increasing rental rates and property values, providing investors with a safeguard against the eroding effects of inflation on the purchasing power of money.
Investing in real estate with a long-term perspective is a strategic and time-tested approach to building wealth. The combination of potential appreciation, income generation through rental properties, diversification benefits, and the stability of real assets makes real estate a compelling option for investors looking beyond short-term market fluctuations. Ready to learn more about <a href="https://www.canmoreabhomes.com/blog/what-should-my-top-priorities-be-in-a-canmore-investment-property/" target="_blank">buying an investment property in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2024-02-28T17:32:53-07:002024-02-28T17:51:15-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:22062Furnishing a Canmore Vacation Rental: Where to Splurge <img src="https://assets.site-static.com/userfiles/2549/image/splurge.jpg" width="450" height="350" alt="Vacation rental furniture" title="Vacation rental furniture" style="float: right; margin: 11px;" />Investing in a vacation rental property in Canmore is a smart strategy. To maximize the potential for success in a short term rental, you need to know where you should splurge on your furnishing and decor. There are certainly some places to save on your budget, but other features deserve some special attention and budgetary priority. We can help you find <a href="https://www.canmoreabhomes.com" target="_blank">vacation rental properties for sale in Canmore</a>, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to learn more about the local real estate market.
We also have some tips to help you know where to spend a little extra now to attract your ideal guests, so keep reading to learn more about where to focus your design budget in your Canmore vacation rental property.
Quality Bedding
One feature in your vacation rental will surely be used by all guests: the beds. No matter their reason for visiting Canmore or the demographic of the guests, the bedding matters. For many guests, the foundation of a memorable vacation is a good night's sleep, and investing in high-quality bedding and mattresses can be a <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">critical way to secure five star reviews</a>.
Guests are likely to appreciate the comfort of a plush mattress and soft, luxurious sheets after a day of exploring Canmore's outdoor wonders. Opt for premium pillows and duvets to create a cozy and inviting atmosphere. A comfortable bed not only contributes to positive guest reviews but also encourages repeat visits, making it a worthwhile splurge.
Scenic Views
Canmore is renowned for its stunning mountainous landscapes, and being able to take full advantage of the views can be a major selling point for tourists. Consider investing in properties with expansive windows or balconies that showcase the natural beauty surrounding the area.
Enhance outdoor spaces with comfortable patio furniture, a barbecue grill, and perhaps a hot tub for guests to relax while enjoying the scenic vistas. The allure of waking up to mountain views or stargazing from a private balcony can justify the splurge, as it creates lasting memories for guests. These features are often a top priority that guests are willing to pay a bit more to enjoy.
Fully Equipped Kitchen
Canmore's culinary scene is diverse and vibrant, but some guests prefer the option of cooking their meals. A well-equipped kitchen is a valuable asset in a vacation rental, and a must-have or dealbreaker for some guests.
Splurge on high-quality kitchen appliances, cookware, and utensils to provide guests with a seamless cooking experience. Including premium coffee makers, wine glasses, and other thoughtful touches can elevate the overall guest satisfaction. A functional and aesthetically pleasing kitchen contributes to positive reviews and encourages guests to choose your rental for their next visit.
Smart Home Technology
Smart home technology can enhance the convenience and modernity of the vacation rental. Invest in features like smart thermostats, keyless entry systems, and entertainment systems.
This not only adds a touch of luxury but also improves the overall guest experience. Smart home technology allows guests to control the ambiance, security, and entertainment effortlessly, contributing to a more enjoyable and stress-free stay. While it may involve a significant upfront cost, the long-term benefits in terms of guest satisfaction and positive reviews make it a worthwhile investment.
Interested in learning more about <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>? We can work with you to narrow your search to include only the properties that suit your goals, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to get started. 2024-02-21T09:11:00-07:002024-02-25T22:30:36-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:22004What Should My Top Priorities Be in a Canmore Investment Property<img src="https://assets.site-static.com/userfiles/2549/image/CanmoreABHomes.com.jpg" width="450" height="350" alt="Investment property search" title="Investment property search" style="float: right; margin: 11px;" />As you begin the search for your <a href="https://www.canmoreabhomes.com/blog/why-is-canmore-one-of-the-best-places-to-invest-in-real-estate/" target="_blank">investment property in Canmore</a>, the options available to you might be overwhelming. In order to make an investment that makes the most sense for your unique scenario, you need to narrow down the features that are your top priorities. We can help you find <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a> that fit your specific criteria, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to learn more about the local investment market.
Before you begin your search, consider listing some of the following features as your top priorities to support a smart investment plan.
Location
As with any investment market, the location you choose within Canmore is key. While anywhere in the Canmore and Banff areas is going to be a great choice for a property with appreciating value and great resale potential, some locations are going to be better than others depending on your plan for the property.
First, determine whether you want to own a personal vacation home, <a href="https://www.canmoreabhomes.com/blog/choosing-between-long-term-tenants-and-a-vacation-rental-for-your-canmore-property/" target="_blank">a long term rental, or a short term vacation rental property</a>. This will help guide your selection of the right location.
The location of your investment property in Canmore can significantly impact its potential for appreciation and rental income. Look for properties in desirable neighbourhoods, close to amenities, with easy access to outdoor activities, parks, and the town centre. Canmore's popularity as a tourist destination makes proximity to attractions a crucial factor, especially so if you plan to run a vacation rental or own your own vacation home. If possible, take a trip to Canmore so we can show you around and help you get a feel for the different neighbourhoods in the area.
Scenic Views
The gorgeous natural setting of Canmore is one of the top reasons people love living and vacationing here. It's hard to fully describe the natural beauty in every direction without seeing it for yourself, but it is undeniably impressive.
Properties with scenic views of the mountains, rivers, or forests tend to be more attractive to potential renters and buyers. A property that offers a connection to nature can command higher prices and experience better appreciation over time.
Recreational Access
In addition to boasting views of the natural scenery, access to the outdoor recreation is another crucial feature. Canmore is renowned for its outdoor recreational opportunities, including hiking, skiing, mountain biking, and more.
You may want to prioritize properties that provide easy access to these activities, either through proximity to trails or ski resorts. A property that caters to the outdoor enthusiast demographic is likely to attract more attention and generate better returns.
Development Potential
Understand the zoning regulations in Canmore to ensure that your investment aligns with local guidelines. Additionally, explore the development potential of the property. Depending on the zoning, you might have the opportunity to expand or redevelop the property to increase its value.
We can help you inquire about these things to make sure that your future goals align with the property you are considering. Canmore is growing rapidly, so gathering as much information as possible about future development and zoning will work to your advantage.
Amenities and Quality of the Home Itself
Don't forget that the features and amenities of the home itself are also a key factor in whether the home will maintain its value and be easily marketable to tenants or tourists. Consider who your ideal guest would be if you will run a vacation rental. For example, if you want to run a <a href="https://www.canmoreabhomes.com/blog/how-to-attract-families-to-your-vacation-rental-in-canmore/" target="_blank">vacation rental that attracts families</a>, look for a property with plenty of bedrooms and bathrooms, minimal safety hazards, and easy parking.
Assess the quality of construction and maintenance of the property as well. A well-built and well-maintained property not only attracts better tenants but also requires fewer ongoing expenses for repairs and upgrades. This can contribute to a higher return on investment in the long run, so pay attention to the inspection report and prioritize proper construction.
Ready to look for <a href="https://www.canmoreabhomes.com" target="_blank">Canmore real estate </a>that might fit your needs?<a href="https://www.canmoreabhomes.com/contact/" target="_blank"> Contact us </a>any time. 2024-02-15T04:04:00-07:002024-02-17T11:23:08-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21916Is Canmore a Good Place to Live Year Round?<img src="https://assets.site-static.com/userfiles/2549/image/home_in_canmore.jpg" width="450" height="350" alt="Canmore home" title="Canmore home" style="float: right; margin: 11px;" />Canmore is known as one of the best places to buy a vacation rental in Canada, but it's also a great choice for a full time home. With a thriving real estate market, a vibrant local culture, and an ideal location, Canmore offers far more than just tourist attractions.
If you are interested in finding <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>, we can help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to begin your search and keep reading to learn more about why Canmore is a great place to live all year round.
Lifestyle
One of the primary draws for those considering a move to Canmore is the lifestyle enjoyed by residents. Canmore's most obvious charm lies in its awe-inspiring surroundings. Towering mountains, glacier-fed rivers, and pristine wilderness create a postcard-perfect backdrop that captivates both residents and visitors alike. Living in Canmore means waking up to panoramic mountain views every day, with iconic peaks like the Three Sisters and Mount Rundle gracing the horizon.
While many places boast access to outdoor activities, Canmore elevates the concept to a whole new level. The town serves as a gateway to Banff National Park, providing unparalleled access to hiking, mountain biking, rock climbing, skiing, and more.
Canmore residents aren't just vacationers reveling in these pursuits; they are individuals who have made the conscious choice to integrate a lifestyle of adventure into their daily routines. Living here means having world-class trails, slopes, and climbing routes right on your doorstep, turning every day into an opportunity for exploration and physical well-being.
Local Economy
While Canmore may seem like a retreat from the hustle and bustle of city life, it is far from being disconnected from economic opportunities. The town has seen sustained growth and development, leading to a diverse economy that goes beyond tourism. Residents find employment opportunities in sectors like hospitality, real estate, retail, and outdoor recreation.
It's also a popular destination for those who have the opportunity to work remotely. Only an hour from Calgary, you will be able to easily travel to wherever you need to be as needed, while working from home in your ideal location when you can. The combination of a thriving local economy and the possibility of remote work in a digital age positions Canmore as not just a residence for outdoor enthusiasts but a practical choice for those seeking professional and economic stability.
Local Culture and Tight Knit Community
Canmore's allure extends beyond its natural beauty; it's deeply rooted in the sense of community that permeates the town. Despite its popularity as a tourist destination, Canmore has managed to maintain a genuine community spirit. Residents actively engage in local events, initiatives, and gatherings, forging connections that go beyond the transient interactions of a vacation spot. Whether it's farmers' markets, festivals, or community clean-up projects, Canmore offers a tight-knit community where everyone has a role to play in nurturing the town's unique character.
In addition, Canmore embraces a sustainable living ethos that aligns with the town's commitment to preserving its natural surroundings. Residents actively participate in initiatives focused on conservation, waste reduction, and environmental stewardship. Choosing Canmore as a full-time home means embracing a lifestyle that resonates with the principles of sustainability, fostering a sense of responsibility for the town's ecological footprint.
Investment Opportunity
Canmore is a smart place to invest in real estate, with lucrative opportunities in a market that has been consistently strong. With new construction taking place in Canmore, and diverse properties already on the market, this is a destination with a wide array of opportunities. As you consider where to invest in your home, it just makes sense to keep equity, appreciation, and the future in mind.
Canmore offers a range of housing options that cater to different preferences and lifestyles. From cozy mountain cabins to modern condominiums, residents can find a home that suits their needs. The diversity in housing choices ensures that individuals and families can select a residence that aligns with their vision of a comfortable and idyllic living space.
Ready to<a href="https://www.canmoreabhomes.com" target="_blank"> find your home in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2024-02-07T13:12:00-07:002024-02-09T21:18:10-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21818Why Do People Want to Retire in Canmore?<img src="https://assets.site-static.com/userfiles/2549/image/Retire_in_Canmore.jpg" width="450" height="350" alt="Retire in Canmore" title="Retire in Canmore" style="float: right; margin: 11px;" />Canmore is a dream location for retirement for many people. If you are thinking ahead toward your golden years, have you considered your ideal retirement destination? These are some of the reasons Canmore is a top choice for so many Canadians.
Ready to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time.
Majestic Mountain Views and Recreation
Perhaps the most initially compelling reason to retire in Canmore is the mountain backdrop and breathtaking scenery. It is a dream destination, drawing tourists from around the world all year long.
Canmore is surrounded by the awe-inspiring Canadian Rockies, providing residents with panoramic views of towering peaks, alpine meadows, and pristine lakes. The stunning natural setting creates a tranquil and visually captivating backdrop, offering a daily dose of inspiration and tranquility. Retirees can wake up to the sight of snow-capped mountains, enjoy sunsets over the rugged landscapes, and relish the ever-changing beauty of the outdoors right from their doorstep or anywhere in town.
For those who love to stay active outside, Canmore is a haven of recreational opportunities. The region boasts an extensive network of hiking and biking trails, perfect for leisurely strolls or more challenging excursions. In the winter, residents can indulge in world-class skiing and snowboarding at nearby resorts like Banff and Lake Louise. Additionally, Canmore's proximity to Banff National Park opens up a myriad of possibilities for exploring nature, wildlife watching, and enjoying the serenity of the mountains. If your retirement plans include an active outdoor lifestyle, it is hard to beat Canmore as a location.
Small Town Charm, Urban Amenities
When we think of Canmore, the term "best of both worlds" comes to mind. Despite its intimate size, Canmore offers a range of amenities typically found in larger urban centers. The charming downtown area is dotted with boutiques, galleries, and restaurants, providing residents with a delightful mix of local offerings and international cuisine. The community retains its small-town charm while offering the conveniences of grocery stores, medical facilities, and cultural events. This balance ensures that retirees can enjoy a relaxed lifestyle without sacrificing access to essential services.
In addition to Canmore itself, residents can access the dining, shopping, entertainment, airport, and hospitals in Calgary only an hour away. This means enjoying the atmosphere of a small mountain community without being far from the conveniences or necessities of a major city nearby. The Calgary International Airport provides easy access for those looking to travel or maintain connections with friends and family in other parts of the country or abroad.
Four Distinct Seasons
Canmore experiences the beauty of all four seasons, each bringing its own charm and recreational opportunities. From the vibrant wildflowers of spring to the warm summer days perfect for hiking and exploring, the golden hues of autumn, and the snowy winter wonderland, retirees can witness the ever-changing beauty of nature throughout the year. This variety ensures that residents can enjoy a diverse range of activities and scenery without monotony.
Investment Potential
As you look ahead to retirement, you may feel more pressure than ever before to make a smart financial investment in your home. The real estate market in Canmore presents an attractive investment opportunity for retirees. While the housing market has already seen significant appreciation in recent years, the appeal of the region, coupled with its limited supply of homes, suggests potential for continued growth. Retirees can find a range of housing options, from cozy mountain cabins to upscale condominiums, allowing them to choose a residence that suits their preferences and lifestyle with peace of mind in the value of the investment.
From the breathtaking mountain vistas to the vibrant community, Canmore presents a unique blend of natural beauty, recreational opportunities, and a welcoming atmosphere that makes it an ideal place for retirees, all only an hour or so from Calgary. To learn more about <a href="https://www.canmoreabhomes.com" target="_blank">finding a home in Canmore</a> for your retirement plans, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time. 2024-02-02T17:57:14-07:002024-02-02T18:08:14-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21760How to Determine Your Vacation Rental Property Budget in CanmoreCanmore is one of the best places to invest in a vacation rental property in Canada, offering an impressive and potentially profitable opportunity. If you are looking at <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore </a>and trying to strategize how much to invest, this post is for you. We can help you find <a href="https://www.canmoreabhomes.com" target="_blank">vacation rental properties for sale in Canmore</a>, and come up with a plan that works with your budget.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">Canmore real estate</a>, and keep reading to learn more about how to determine your investment budget.
Understanding the Local Market
The first step in crafting a budget for your vacation rental is gaining a deep understanding of the local market in Canmore. Research recent sales data, property trends, and tourism statistics to gauge the demand for short-term rentals in the area. Evaluate the performance of similar properties and identify popular features or amenities that contribute to their success.
We can provide you with our local expertise, explaining the market conditions and the professional opinions and predictions most local experts agree on. Canmore is a popular vacation destination with a thriving and competitive real estate market, where you may need a significant upfront investment but can reasonably expect it to build equity at a rapid rate.
Initial Investment
Consider your initial investment when purchasing a vacation rental property. This includes the property's purchase price, closing costs, and any necessary renovations or improvements (including furnishing and stocking the property for guests). Factor in the cost of furnishing the property to meet the expectations of your ideal guest. Keep in mind that a well-maintained and attractively furnished vacation rental is more likely to command higher rental rates and attract positive reviews.
This process should include talking with multiple lenders to find out what you will be approved to borrow, exploring multiple mortgage options that include those designed specifically for investors. You may also want to explore bringing on other investors with you to offset the initial cost, either investing in the property with friends and family or looking for professional investors to join you. Exploring your options will help you figure out what your upfront investment budget will be.
Operating Expenses
After you set your initial investment budget, you need to factor in the operation expenses. These are the ongoing costs that will ideally be covered by the revenue, but may fall back on you if you are not experiencing the occupancy rate you hoped for at any given time.
These include property management fees, maintenance costs, property taxes, insurance, utilities, and marketing expenses. Property management fees are particularly significant, especially if you plan to hire a professional to handle day-to-day operations, guest communication, and property maintenance.
As you look at different properties, don't forget to factor these operating expenses in addition to the upfront costs. This will help you make sure you are comparing apples to apples.
Estimating Revenue
The success of your vacation rental investment hinges on accurate revenue projections. To estimate potential revenue, consider the following factors:
Market rates: Research comparable vacation rentals in Canmore to determine the average nightly or weekly rates. Factor in the location, size, and amenities of your property to set competitive rates that reflect the local market. You may want to estimate on the conservative side to allow for promotional rates or other marketing strategies as you build a stock of positive reviews and a good reputation.
Occupancy rates: Analyze historical occupancy rates for similar properties in Canmore. Consider seasonal fluctuations and peak tourism periods. Aim for realistic occupancy projections to ensure your revenue estimates are grounded in practical expectations.
Marketing strategies: Implement effective marketing strategies to attract potential guests. Utilize online platforms, social media, and professional photography to showcase your property. The more visibility your vacation rental has, the higher the chances of attracting bookings.
Guest experience: <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">Positive reviews and guest satisfaction</a> contribute significantly to repeat bookings and referrals. Invest in ensuring a delightful guest experience, as satisfied guests are more likely to return and recommend your property to others.
Special events and seasonal trends: Take into account special events and seasonal trends that may impact demand for vacation rentals in Canmore. Adjust your pricing strategy accordingly during peak periods to maximize revenue.
Crafting a budget for your vacation rental in Canmore requires a meticulous examination of various factors, from initial investment to ongoing operational expenses. By conducting thorough research, leaning on our local expertise, analyzing market trends, and implementing sound financial planning, you can establish a realistic budget that aligns with your investment goals. Ready to find your <a href="https://www.canmoreabhomes.com" target="_blank">vacation rental property in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time to get started. 2024-01-26T03:35:00-07:002024-01-28T17:29:33-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21681Beginner-Friendly Winter Sports to Try in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Beginner_Friendly.jpg" width="450" height="350" alt="Winter sports" title="Winter sports in Canmore" style="float: right; margin: 11px;" />Canmore is one of the best places to live or vacation all year round, so its no surprise that so many people are in search of a Canmore investment property or <a href="https://www.canmoreabhomes.com" target="_blank">houses for sale in Canmore</a> to call home. Being in Canmore during the winter means the chance to explore all kinds of winter wonderlands. Try these winter sports if you want to adventure in Canmore but need something beginner-friendly.
Looking for <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.
Planning a day with a beginner (even if the beginner is you) out in Canmore this winter? Check out these ideas.
Snowshoeing
Snowshoeing is an accessible and beginner-friendly winter activity that allows individuals to explore Canmore's pristine landscapes at a comfortable pace. Without much of a learning curve, you can try this sport with little prep and education, and it's easy to find gear to rent if you are not yet ready to fully commit to the hobby.
Canmore offers various trails suitable for all skill levels, including the novice. The trails around the <a href="https://www.albertaparks.ca/parks/kananaskis/canmore-nordic-centre-pp/" target="_blank">Canmore Nordic Centre Provincial Park</a> provide an excellent introduction to snowshoeing. The well-marked paths make it easy for beginners to navigate the terrain while enjoying breathtaking views of the surrounding mountains.
Cross-Country Skiing
Canmore is renowned for its world-class cross-country skiing opportunities. The Canmore Nordic Centre, originally developed for the 1988 Winter Olympics, offers a range of trails catering to different skill levels.
If downhill skiing is intimidating for you, cross-country skiing can provide a lot of the same fun without the same challenge. Beginners can start with the gently rolling terrain of the Meadow Loop, a beginner-friendly trail that provides a scenic introduction to cross-country skiing. Lessons and equipment rentals are readily available, making it convenient for newcomers to the sport.
Ice Skating
While there is some skill involved, ice skating can be enjoyed even if you're rusty or you've never tried it before (as long as you have a sense of humor and some humility while you get steady on the ice).
Lace up your skates and hit the ice in Canmore. The <a href="https://www.canmore.ca/your-community/recreation/indoor-recreation" target="_blank">Canmore Recreation Centre</a> features an indoor ice rink, providing a welcoming environment for beginners to practice skating. The facility offers skate rentals, too, making it accessible for those who may not have their own equipment.
In addition to indoor skating, the outdoor ponds and rinks scattered throughout Canmore provide a picturesque setting so that you can enjoy the classic Canadian winter pastime with a breathtakingly scenic backdrop.
Winter Hiking
Canmore boasts a network of winter hiking trails that cater to beginners. The trails are typically well-maintained, offering a safe and enjoyable experience for those looking to explore the winter landscape on foot. You may think of hiking in Canmore as a spring and summer activity, but it can be enjoyed all year round.
Policeman's Creek Trail and the Bow River Loop are popular options for winter hiking. These trails wind through snow-covered forests and along the banks of the Bow River, providing a tranquil and scenic environment for beginners to embrace the winter season.
Sleigh Rides
Experience the enchantment of winter in Canmore with a magical sleigh ride, perfect for all ages and abilities. Various operators in the area offer horse-drawn sleigh rides through snow-covered fields and forests, providing a cozy and romantic way to enjoy the winter scenery.
Sleigh rides are beginner-friendly and offer a unique perspective of the winter landscape. Snuggle up in warm blankets and let the rhythmic jingle of sleigh bells create a memorable winter experience.
Tubing
For those seeking a thrill without the need for specialized skills, tubing is a fantastic option. The Canmore Nordic Centre features a tubing park where individuals can enjoy the excitement of sliding down groomed slopes.
Tubing is a family-friendly activity that requires minimal equipment and provides a memorable experience for beginners of all ages. The gentle slopes at the tubing park make it an ideal introduction to winter sliding fun.
Whether you choose to snowshoe through tranquil forests, glide across cross-country ski trails, or experience the thrill of tubing, Canmore's winter offerings cater to all skill levels. With its stunning scenery and welcoming atmosphere, Canmore invites beginners to embrace the magic of winter.
Interested in finding <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2024-01-18T11:14:00-07:002024-01-19T18:26:11-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21601Myths About Owning a Canmore Vacation Rental<img src="https://assets.site-static.com/userfiles/2549/image/Investing_Myths.jpg" width="450" height="350" alt="Myths about investing" title="Myths about investing" style="float: right; margin: 11px;" />Are you getting ready to <a href="https://www.canmoreabhomes.com" target="_blank">buy a vacation rental property in Canmore</a>? There are some common myths about owning a vacation rental that you should know as you prepare to invest in Canmore real estate. Canmore is one of the best places to buy a vacation rental in Alberta, but to be successful you need the right strategy and information.
We can help you find <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore </a>that will be perfect for your vacation rental plans, so c<a href="https://www.canmoreabhomes.com/contact/" target="_blank">ontact us</a> any time to begin your search. Before you do, check out this post to be aware of common myths about investing in a Canmore vacation rental property.
Myth: Canmore is Only a Winter Destination
One common myth is that Canmore's appeal is limited to the winter season, catering primarily to skiers and snow enthusiasts. The reality is that Canmore is a year-round destination with activities such as hiking, mountain biking, golfing, and exploring the stunning landscapes. Vacation rentals in Canmore can attract visitors throughout the year, offering diverse recreational opportunities.
Myth: Vacation Rentals are Only for Tourists
Some may believe that vacation rentals in Canmore are exclusively for tourists, and there's no market beyond seasonal visitors. In reality, Canmore's charm extends to various demographics, including families, nature enthusiasts, and individuals seeking a peaceful retreat. Vacation rentals can cater to both short-term tourists and those looking for extended stays or weekend getaways.
There are also quite a few people who live in nearby Calgary but might opt to <a href="https://www.canmoreabhomes.com/blog/5-reasons-remote-workers-choose-to-live-in-canmore/" target="_blank">work remotely in Canmore</a> for a month or so at a time to enjoy the change of scenery. <a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank">Keep your ideal vacation rental guest in mind </a>as you search for the right property and design it to attract you ideal customer.
Myth: High Upfront Costs Make it Inaccessible
There's a misconception that investing in a vacation rental in Canmore requires exorbitant upfront costs, making it financially inaccessible for many buyers. While Canmore is a sought-after destination with a competitive real estate market, there are diverse property options available at different price points.
Additionally, financing options and mortgage solutions can make ownership more feasible for a broader range of investors. Before you assume you can't afford the investment, talk with a lender about your options and reach out to us to let us know what your budget might be.
Myth: It's Challenging to Manage a Property Remotely
Another myth is that managing a vacation rental in Canmore, especially for those who reside elsewhere, is a logistical challenge. It's true that this is not a truly passive source of income, but that doesn't mean you can't take it on.
Some may believe that owning a vacation rental in Canmore demands constant involvement and attention, making it a time-consuming endeavor. While active management is essential, leveraging technology and professional services can streamline operations, allowing you to enjoy the benefits of ownership without being overly burdened.
Property management services are available to handle day-to-day operations, including guest check-ins, maintenance, and cleaning. Leveraging professional management can streamline the process and alleviate concerns about remote ownership.
Myth: Canmore's Market is Saturated
Some potential buyers may worry that the vacation rental market in Canmore is oversaturated, making it difficult to stand out and attract guests. While it's true that Canmore is a popular destination, the demand for quality accommodations remains high. A well-marketed and well-managed property can still thrive in the market.
Myth: Canmore is Only for High-End Luxury Rentals
Some may assume that Canmore's market caters exclusively to high-end luxury rentals, making it difficult for properties with more moderate pricing to succeed. The reality is that Canmore welcomes a diverse range of travelers, and well-maintained, reasonably priced rentals can find their niche in the market.
There are so many diverse opportunities for investment in this market. Ready to <a href="https://www.canmoreabhomes.com" target="_blank">find your Canmore income property</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2024-01-12T10:55:21-07:002024-01-12T11:11:30-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21403Add These Outdoor Features to Make Your Vacation Rental in Canmore Stand Out<img src="https://assets.site-static.com/userfiles/2549/image/Outdoor_Amenities.jpg" width="525" height="350" alt="Outdoor amenities" title="Outdoor amenities" style="float: right; margin: 11px;" />Canmore is generally agreed to be one of the best places to own a vacation rental, nestled in a gorgeous natural setting that draws tourists from around the world all year long. As the demand for vacation rentals in this picturesque destination continues to rise, property owners are increasingly recognizing the need to offer unique and enticing outdoor features to distinguish their accommodations from others in the area.
In this guide, we explore outdoor amenities that can elevate your Canmore vacation rental, making it stand out and beckoning travelers to experience the unparalleled beauty of the surrounding mountains and landscapes. Even if you are <a href="https://www.canmoreabhomes.com/blog/why-you-should-buy-a-canmore-vacation-rental-during-the-off-season/" target="_blank">buying a Canmore vacation rental in the winter</a>, it makes sense to keep outdoor amenities in mind.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore </a>that can become your ideal vacation rental, and keep reading for ideas to inspire a strategic plan for your outdoor renovations.
Hot Tubs with Scenic Views
Adding a hot tub to your outdoor space not only provides a luxurious touch but also capitalizes on the mesmerizing surroundings. If your vacation rental boasts any scenic views, consider situating a hot tub to allow your guests to take full advantage of them.
Imagine soaking in warm, bubbling waters with panoramic views of snow-capped peaks or starry skies. This feature adds a touch of relaxation and indulgence, transforming the vacation experience into a true mountain retreat.
Mountain View Terraces
Another great option if your property boasts mountain views is a terrace with privacy and comfortable furniture. Canmore is renowned for its breathtaking mountain vistas, and a private terrace that frames these views becomes a priceless asset. Consider designing spacious outdoor terraces equipped with comfortable seating, dining areas, and perhaps a cozy fire pit. Guests will relish the opportunity to sip their morning coffee or enjoy an evening glass of wine while being enveloped by the majestic beauty of the Rockies, and these areas photograph extremely well for online listings, too.
Outdoor Kitchens
For guests who appreciate al fresco dining, incorporating an outdoor kitchen or grill area can be a game-changer. Imagine the joy of preparing a barbecue surrounded by the crisp mountain air and stunning scenery. Equipping the space with comfortable seating, ambient lighting, and perhaps a fire pit for cozy evenings enhances the overall outdoor experience.
Trail Access and Recreation Gear
Canmore is a haven for outdoor activities, and providing guests with easy access to nearby trails can be a significant draw. Consider creating a trailhead from your property, complete with information on local hikes and outdoor adventures, if the setting allows.
Additionally, offering complimentary outdoor gear such as hiking poles, bikes, or snowshoes can make your rental especially attractive to those eager to explore the natural wonders that Canmore has to offer. Guests traveling by plane from far away may not be able to pack all of their gear, and the opportunity to not have to buy or rent it in Canmore may be the feature that leads them to select your property.
Heated Outdoor Seating
Canmore's winters can be chilly, but that shouldn't deter guests from enjoying the outdoors. Demand for vacation rentals in Canmore remains all year long because <a href="https://www.canmoreabhomes.com/blog/get-outside-this-winter-in-canmore/" target="_blank">there is still plenty to enjoy in the area during the winter</a>.
Install heated outdoor seating areas, such as heated benches or even heated flooring, to ensure that guests can comfortably revel in the winter wonderland that surrounds them. This feature adds a touch of luxury and makes your vacation rental appealing throughout the year.
Yoga Deck and Meditation Space
Acknowledging the growing interest in wellness travel, consider incorporating outdoor spaces dedicated to yoga and meditation. A well-designed yoga deck with mountain views provides an ideal setting for guests to unwind and connect with their surroundings, adding a holistic dimension to their Canmore getaway.
In the competitive landscape of vacation rentals in Canmore, it is sometimes the outdoor features that can truly set your property apart. By capitalizing on the natural beauty of the surroundings and catering to the desires of adventure-seeking travelers, you can create a unique and unforgettable experience.
Ready to find your Canmore vacation rental? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to begin this search for <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore and Banff</a>.2023-12-29T04:35:00-07:002023-12-30T11:50:33-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21367Get Outside this Winter in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Canmore_Winter.jpg" width="450" height="350" alt="Canmore Winter" title="Canmore Winter" style="float: right; margin: 11px;" />Canmore and Banff are some of the worlds best travel destinations for hiking, mountain biking, kayaking, fishing, and just enjoying breathtaking scenery. The appeal of Canmore does not fade as summer comes to an end, but instead it transforms into a magical winter paradise offering a diverse range of outdoor activities for every winter enthusiast.
Whether you're seeking the thrill of downhill skiing, the serenity of snowshoeing, or the excitement of dog sledding, Canmore provides an abundance of opportunities to embrace the beauty of winter. It's always a good time to move to or visit Canmore. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore </a>or investing in a vacation property in this world renowned destination.
From exhilarating winter sports to peaceful moments in nature, Canmore has something for everyone during the snowy months. Keep reading for inspiration from a variety of outdoor activities that showcase the winter charm of Canmore.
Downhill Skiing at Mount Norquay
Just a short drive from Canmore, <a href="https://banffnorquay.com" target="_blank">Mount Norquay Ski Resort</a> awaits winter enthusiasts with its thrilling downhill slopes. Boasting stunning views of the Bow Valley, Mount Norquay offers terrain for all skill levels, making it an ideal destination for both beginners and experienced skiers alike. Glide down the slopes and experience the adrenaline rush against the backdrop of the majestic Canadian Rockies.
Cross Country Skiing at Canmore Nordic Centre
The <a href="https://www.albertaparks.ca/albertaparksca/visit-our-parks/activities/cross-country-skiing/ski-centres/canmore-nordic-centre/" target="_blank">Canmore Nordic Centre</a>, a legacy of the 1988 Winter Olympics, transforms into a cross-country skiing haven during the winter months. With an extensive network of groomed trails, cross-country skiers can explore the enchanting winter landscape. Whether you're a novice or an expert, the Nordic Centre caters to all skill levels, offering a serene and immersive experience in the snow-covered woods.
Ice Climbing in Grotto Canyon
Looking for a winter adventure in Canmore? Grotto Canyon provides a unique opportunity for ice climbing. Frozen waterfalls create natural ice walls that attract ice climbers from around the world. Guided tours are available for those looking to try this exhilarating sport for the first time, providing a thrilling adventure against the stunning icy backdrop of Grotto Canyon.
Snowshoeing in Kananaskis County
Strap on a pair of snowshoes and venture into the pristine winter wilderness of Kananaskis Country, surrounding Canmore. The area offers a plethora of snowshoeing trails suitable for all levels, allowing you to explore the serene beauty of snow-covered forests and meadows. Whether you prefer a leisurely stroll or a challenging trek, Kananaskis Country provides a winter wonderland for snowshoe enthusiasts of any fitness level.
Dog Sledding Adventures
Experience the magic of winter from a dog sled as you embark on a thrilling dog sledding adventure. Professional mushers guide the teams of eager sled dogs through snowy trails, providing an unforgettable and authentically Canadian experience. Feel the crisp mountain air as you glide through the snowy landscapes, surrounded by the energy and enthusiasm of the huskies.
Ice Fishing on Spray Lakes
In the summer months, there are plenty of places to enjoy fishing near Canmore. That doesn't change as the ice forms, though the type of fishing does. When Spray Lakes freeze over, ice fishing becomes a popular winter pastime. Drill a hole in the ice, set up your fishing gear, and enjoy a peaceful day on the frozen lake surrounded by the stunning Rocky Mountain scenery. Trout and char are common catches in these icy waters, providing a rewarding experience for fishing enthusiasts.
Banff National Park
Just a short drive from Canmore, Banff National Park offers a plethora of winter adventures. Take a scenic drive through the snow-covered Icefields Parkway, soak in the Banff Upper Hot Springs, or embark on a winter hike to marvel at the frozen beauty of iconic Lake Louise. Banff National Park is a winter wonderland waiting to be explored.
As you explore the snowy landscapes and engage in these outdoor adventures, you'll discover that Canmore truly comes alive with the spirit of winter, inviting you to create lasting memories against the stunning backdrop of the Canadian Rockies. Want to learn more about<a href="https://www.canmoreabhomes.com" target="_blank"> owning a home in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-12-21T20:39:47-07:002023-12-21T21:19:38-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21269Have You Considered Making Your Canmore Vacation Rental Wheelchair Accessible?<img src="https://assets.site-static.com/userfiles/2549/image/Accessibility.jpg" width="450" height="350" alt="Accessible rental" title="Accessible rental" style="float: right; margin: 11px;" />Canmore, nestled in the breathtaking Canadian Rockies, is a destination that attracts visitors seeking both natural beauty and adventure. As a vacation rental property owner in Canmore, ensuring that your space is accessible to individuals with mobility challenges not only broadens your potential guest base but also aligns with principles of inclusivity and hospitality.
Keep reading for some actionable steps you can take to make your vacation rental property in Canmore wheelchair accessible, enhancing the overall experience for all guests.
Why wheelchair accessibility?
Making your vacation rental in Canmore wheelchair accessible is not just a matter of meeting legal requirements; it's a thoughtful and inclusive decision that can benefit both property owners and a diverse range of guests.
The travel industry is evolving towards inclusivity. Many travel agencies, platforms, and tour operators are emphasizing accessible travel options. Aligning your vacation rental with these industry shifts increases visibility and collaboration opportunities. Making your property accessible demonstrates a commitment to inclusivity and creates a welcoming environment for all travelers, irrespective of their mobility status.
In addition, offering a wheelchair-accessible vacation rental contributes to positive guest experiences. Satisfied guests are more likely to leave you those coveted <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">five star reviews</a>, attracting future guests and improving your property's online reputation.
So what can you do to make your vacation rental property more accessible?
Accessible Entryways
Install ramps at entry points to eliminate barriers for wheelchair users. Ramps should have a gradual slope, handrails for support, and a non-slip surface. This allows guests to enter the property with ease.
You should also ensure that doorways are wide enough to accommodate wheelchairs. Consider widening them if necessary, and opt for lever-style handles, which are easier to operate.
Wheelchair-Friendly Flooring
Opt for smooth and slip-resistant flooring throughout the property. This facilitates easier movement for wheelchair users and reduces the risk of accidents.
If you choose to have carpets in your vacation rental, select low-pile options. This type of carpeting is more wheelchair-friendly and makes it easier for individuals to move around.
Pay attention to the transitions between flooring types in the home to make sure they are easy to navigate in a wheelchair.
Washrooms
Accessible washrooms are a must. Install roll-in showers with grab bars for support. This design allows wheelchair users to roll directly into the shower area without barriers. Ensure that showerheads are adjustable in height. This accommodates guests who may be seated in a wheelchair and need a lower shower head position.
You might also consider adding raised toilet seats to provide ease of use for individuals with mobility challenges.
Smart Home Technology
<a href="https://www.canmoreabhomes.com/blog/must-have-smart-home-features-for-vacation-rentals/" target="_blank">Installing smart home technology in your vacation rental</a> is a great idea for many reasons, and one of them is the way it increases accessibility. Integrate smart home technology with voice-activated controls. This allows guests to control lighting, temperature, and other features without physical interaction.
You can also install smart locks with keyless entry options. This not only provides convenience but also eliminates the need for physical keys.
Parking
If the property has parking on site, designate accessible parking spaces close to the entrance. Ensure that these spaces are clearly marked and meet accessibility standards. Next, create a smooth and wide pathway from the parking area to the entrance. This ensures a seamless transition for wheelchair users.
Collaboration with Experts
In order to confidently market your vacation rental as accessible, you may want to ask an expert for their opinion of the renovations you have made to the property.
Consider consulting with accessibility experts or organizations to assess and improve the overall accessibility of your property. Their insights can help identify specific areas for improvement.
You can also explore the possibility of obtaining an accessibility certification for your vacation rental. This certification can enhance your property's visibility among guests seeking accessible accommodations.
Looking for the right investment property in Canmore? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">houses for sale in Canmore</a>.2023-12-13T22:15:28-07:002023-12-13T22:31:33-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21208Reasons to Choose a Condo Instead of a House for Your Canmore Vacation Rental<img src="https://assets.site-static.com/userfiles/2549/image/condo_canmore.jpg" width="450" height="350" alt="Canmore Condo" title="Canmore Condo" style="float: right; margin: 11px;" />Canmore is an ideal vacation destination any time of year, so it should come as no surprise that there is a steady stream of tourists in the area at all times, from countries all around the globe. To capitalize on this booming tourism market, savvy investors understand that Canmore is one of the best places to invest in a short term vacation rental.
For those considering investing in a short-term vacation rental in Canmore, the choice between a condo and a house is a crucial decision. While both options offer unique advantages, opting for a condo can be a pragmatic and strategic decision for various reasons.
If you find yourself stuck between a house and a condo, keep reading as we explore the compelling reasons someone might choose to buy a condo in Canmore for your short-term vacation rental investment. And it you have any questions or want to learn more about<a href="https://www.canmoreabhomes.com/investments/condos-for-sale/" target="_blank"> condos for sale in Canmore</a>, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time.
Affordability
One of the primary reasons individuals opt for a condo over a house in Canmore is affordability. Condos generally come with a lower upfront cost compared to standalone houses. This allows investors to enter the Canmore real estate market with a more manageable financial commitment, freeing up capital for potential upgrades, marketing efforts, or other investment opportunities.
Even if you are looking for luxury real estate with a higher price point, a luxury condo in Canmore is likely going to be listed for less than a single family home in the luxury category. You can still design a vacation rental for your ideal client if you choose a condo.
Lower Maintenance
While a vacation rental is considered passive income, all real estate ownership comes with some maintenance and active work, either being done directly by you or being outsourced to a property management team.
Condos often come with the benefit of lower maintenance responsibilities, making them an attractive option for short-term vacation rental owners. Many condo associations take care of exterior maintenance, landscaping, and common area upkeep. This can be particularly advantageous if you want to minimize the time and effort spent on maintenance tasks, so that you can focus on managing and marketing their vacation rental or working toward other goals.
Amenities
Canmore's condo developments frequently offer a range of amenities and services that enhance the overall guest experience. Common amenities may include fitness centers, hot tubs, swimming pools, and communal spaces. Some condo complexes even provide services like concierge assistance, making the vacation rental experience more appealing to guests and potentially increasing rental demand.
These amenities can be advertised as part of the perks of choosing your property, but require no maintenance or planning from you. You can benefit from them without doing anything extra to make sure they are available to your guests.
Security
Canmore condos often come with built-in security features, such as gated entrances, surveillance systems, and secure access points. Whether you live in Canmore or will be managing the property remotely, this can provide peace of mind, knowing that your property is located in a secure environment. Guests are also likely to appreciate the added security measures, contributing to a worry-free stay.
Proximity to Attractions
Almost as important as the property itself is the location. Your guests will likely be choosing their vacation rental based on its proximity to everything they plan to do or explore on their trip.
Condos in Canmore are often strategically located, providing easy access to popular attractions, dining, and outdoor activities. Being closer to the heart of the action can make a vacation rental more attractive to potential guests who prioritize convenience and proximity to local amenities. You can also expect that the developers of the condo chose the location because of its future potential.
Easier Rental Management
Managing a vacation rental can be demanding, and condos often offer advantages in terms of rental management. Some condo associations in Canmore have established guidelines for short-term rentals, streamlining the process for owners. Additionally, some condo complexes have on-site management services, making it easier for owners to oversee their rental properties from a distance.
Ready to begin the search for your vacation rental property in Canmore? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-12-08T15:28:00-07:002023-12-10T23:19:00-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21110Warm Up This Winter at a Top Canmore Coffee Shop<img src="https://assets.site-static.com/userfiles/2549/image/Coffee_Shops_in_Canmore.jpg" width="450" height="350" alt="Canmore coffee shops" title="Canmore coffee shops" style="float: right; margin: 11px;" />Looking for somewhere to fuel yourself for a day of adventure or warm up after a snowy exploration in Canmore? Luckily, Canmore is home to an extensive list of great coffee shops to try.
Whether you are looking for somewhere to call your office for the day as a <a href="https://www.canmoreabhomes.com/blog/5-reasons-remote-workers-choose-to-live-in-canmore/" target="_blank">remote worker in Canmore</a> or you just want to enjoy a great latte on your vacation, you will want this list of some of our favorite coffee shops in Canmore.
Beamers Coffee Bar
<a href="https://www.beamerscoffee.ca" target="_blank">Beamers Coffee Bar</a> is a cozy and inviting coffee shop located in the heart of charming downtown Canmore. Known for its friendly atmosphere, it's a popular spot for both locals and visitors.
They offer a variety of coffee options, including specialty drinks and high-quality espresso. The space also includes a meeting room, available by reservation for your small events or meetings.
Good Earth Coffeehouse
<a href="https://goodearthcoffeehouse.com" target="_blank">Good Earth Coffeehouse</a> is a Canadian chain that focuses on ethically sourced and organic coffee. In Canmore, it provides a warm and welcoming environment. In addition to their excellent coffee, they offer a selection of baked goods and light meals, making it a great place to relax and enjoy a snack or even set up shop for the day with your laptop.
Whitebark Cafe
<a href="https://whitebarkcafe.com" target="_blank">Whitebark Cafe</a> is a charming coffee shop known for its artisanal coffee and unique atmosphere. It's often praised for its friendly staff and comfortable seating. Beyond coffee, they offer a variety of pastries, sandwiches, and other treats.
The sleek, minimalist design makes this trendy shop appealing before you even taste their excellent coffee. It is located in the Banff Aspen Lodge, a family-owned independent lodge just outside of Canmore.
Valbella Gourmet Foods
While primarily known for its gourmet food offerings, <a href="https://valbella.ca" target="_blank">Valbella Gourmet Foods</a> in Canmore also has a café section that offers some of the best coffee in town. They serve high-quality coffee along with a selection of freshly baked goods. The combination of good coffee and the option to explore their gourmet products makes it a unique spot, perfect for when you've got a craving for coffee and a hearty appetite to go with it.
Rocky Mountain Bagel Co
While primarily known for its delicious bagels, Rocky Mountain Bagel Co also serves excellent coffee. It's a favorite local spot for breakfast, offering a variety of bagels with different toppings. They offer everything in house or to-go, so if you fall in love with their delicious bagels you can enjoy one any time. The casual and friendly ambiance adds to the overall experience, and it's a great place to quickly stop by on your way to exploring downtown Canmore or heading out for an outdoor adventure.
Canmore may be a small mountain town, but they have everything you want in a place to live or vacation. Healthcare, great restaurants, plenty to do, breathtaking natural beauty, and even an extensive list of places to get a cup of coffee.
Want to learn more about living in Canmore? We can help you find your next investment property or a new home for sale in Canmore, so contact us any time.2023-12-01T16:01:00-07:002023-12-03T23:19:13-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21044Why You Should Buy a Canmore Vacation Rental During the Off-Season<img src="https://assets.site-static.com/userfiles/2549/image/INvest_This_Winter.jpg" width="450" height="350" alt="Off Season Investment" title="Off Season Investment" style="float: right; margin: 11px;" />Canmore is a year-round destination renowned for its stunning mountain landscapes, outdoor adventures, and proximity to Banff National Park. While summer may be the peak tourist season, exploring the real estate market during the winter can offer savvy investors some unique advantages.
We can help you find the right investment property in Canmore, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to begin your search. If you are wondering when you should look for a vacation rental property consider the benefits of looking for a vacation rental to buy in Canmore during the winter, taking advantage of the real estate off-season. Keep reading to learn more about some of the advantages of buying an investment property during the winter off season.
Reduced Competition and Motivated Sellers
Winter in Canmore often sees a decrease in overall real estate activity. Potential buyers may postpone their property search due to the colder weather or holiday festivities. This reduction in competition creates a buyer's market, where those actively searching for a vacation rental have the opportunity to negotiate favorable terms.
With fewer buyers in the market, sellers may be more motivated to negotiate on price and terms. Winter buyers can leverage this reduced demand to secure a vacation rental at a potentially lower cost than during peak seasons.
Sellers who choose to list their properties during the winter are likely motivated. Whether due to personal circumstances, financial considerations, or other factors, these sellers may be more willing to negotiate and close deals promptly.
Motivated sellers may be inclined to move swiftly through the sales process. Winter buyers can benefit from this motivation, potentially streamlining the purchase timeline and ensuring a smoother transaction.
Winter Showcase
Canmore's winter landscape transforms the region into a snowy wonderland. Potential buyers can experience the property in a different light, appreciating how it fares in winter conditions. Snow-covered surroundings may enhance the property's charm, especially if it includes features like fireplaces or scenic views.
While many people think of Canmore and Banff as places to visit during the summer, they are actually <a href="https://www.canmoreabhomes.com/blog/5-things-to-do-in-canmore-this-winter/" target="_blank">popular vacation destinations in the winter</a>, too. Take advantage of the opportunity to see the area and your potential property during the winter months so you can accurately design and market it for year round profitability.
Purchasing a vacation rental in winter ensures that the property suits the needs of visitors during all seasons. Investors can evaluate how well the property can accommodate winter activities like skiing, snowshoeing, and winter hikes.
Property Inspections in Winter Conditions
Purchasing a vacation rental in Canmore during the off season allows buyers to inspect the property under winter conditions. This firsthand experience enables them to assess how well the property handles snow, ice, and other winter challenges, ensuring that it meets both aesthetic and practical expectations.
Winter inspections can reveal potential maintenance needs that are specific to colder months. Addressing these issues early ensures that the property is well-prepared for the winter season, reducing the likelihood of unexpected repairs while you have a guest in the home.
Professional Availability
Real estate professionals are generally less busy during the winter months. Buyers looking for vacation rentals in Canmore can benefit from the undivided attention of real estate professionals who have more time to dedicate to their clients, including inspectors, appraisers, and lenders.
We are real estate professionals with local expertise that can provide valuable insights into the Canmore market, helping you make informed decisions about the type of vacation rental that aligns with your investment goals and preferences. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time, winter or not, to learn more about <a href="https://www.canmoreabhomes.com/blog/why-is-canmore-one-of-the-best-places-to-invest-in-real-estate/" target="_blank">investing in a Canmore vacation rental property</a>.
2023-11-22T16:38:36-07:002023-11-22T17:20:58-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:21010Make Your Canmore Vacation Rental Perfect for Holiday Getaways<img src="https://assets.site-static.com/userfiles/2549/image/Make_Your_CAnmore_Vacation_Rental.jpg" width="450" height="350" alt="Holidays in Canmore" title="Holidays in Canmore" style="float: right; margin: 11px;" />The holiday season is a magical time, filled with joy, celebration, and the desire to create lasting memories. As a vacation rental owner, tapping into this festive spirit can make your property a sought-after destination for those looking to celebrate the holidays away from home. This often means an opportunity to capitalize on a more lucrative season as well.
Canmore is already one of the best places to visit any time of year, and during the winter holidays there are even more reasons for your potential guests to choose your destination. If you are looking for the perfect property to transform into a <a href="https://www.canmoreabhomes.com" target="_blank">vacation rental in Canmore</a>, we can help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to get started.
Here are some smart strategies to attract people to your vacation rental as the perfect place for holiday festivities.
Advertise Holiday Amenities
Enhance the holiday experience by providing special amenities that cater to the season. Consider supplying a welcome basket with holiday treats, hot cocoa, and perhaps a bottle of festive wine or champagne.
Advertise your property as a comfortable, luxurious, and convenient place to celebrate. Perhaps you can provide elevated kitchen equipment so that Thanksgiving or Christmas meal preparation is a breeze in the home, or maybe you can offer a concierge service of some kind.
Show your potential guests how perfect celebrating New Year's will be in your property's outdoor hot tub or display a fireplace and mantle with stocking hangers ready to go. Look for places you can feature and advertise holiday-specific amenities.
Holiday Decor
Transform your vacation rental into a festive wonderland by decorating it for the holidays. Consider a theme that complements the destination or offers a universal appeal. Adorn the space with twinkling lights, wreaths, and even a beautifully decorated Christmas tree. Creating a warm and inviting atmosphere will make guests feel like they've stepped into a holiday retreat.
Offer a Themed Package
Create enticing holiday-themed packages that go beyond the standard rental. For example, offer a "Christmas Getaway" package that includes decorations, a holiday meal kit, and perhaps even tickets to local holiday events or activities. Tailor packages to different holidays, ensuring your rental is attractive for various celebrations.
This can also help you optimize your search engine results so that guests searching for something like a "vacation rental for Christmas in Canmore" will be brought to your page.
Provide a Local Holiday Guide
Canmore is a great place to celebrate the holidays because they are wonderful winter activities and events to enjoy. Provide guests with a comprehensive guide to local holiday events, festivals, and activities. Highlight nearby attractions that are beautifully lit or offer special holiday performances. Include recommendations for the best spots to view holiday lights or where to find unique gifts for their loved ones.
Invest in Technology
Equip your vacation rental with the technology that allows guests to celebrate in style. Consider providing a high-quality sound system for playing festive tunes, a smart TV for holiday movie marathons, and perhaps even a virtual reality setup for a unique and memorable experience.
Investing in some <a href="https://www.canmoreabhomes.com/blog/must-have-smart-home-features-for-vacation-rentals/" target="_blank">smart home features for your vacation rental </a>will be worth every penny.
Family-Friendly Features
If your<a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank"> target audience</a> includes families celebrating the holidays together, ensure that your rental is family-friendly. Consider providing board games, holiday-themed crafts, or even a small selection of children's holiday books. <a href="https://www.canmoreabhomes.com/blog/how-to-attract-families-to-your-vacation-rental-in-canmore/" target="_blank">Catering to families can make your rental particularly appealing</a> during the holiday season.
Ready to look for <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore</a> so you are ready to capitalize on the holiday season with your vacation rental next year? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time.2023-11-16T11:59:00-07:002023-11-17T19:18:41-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20918Offset the Cost of Buying a Vacation Home in Canmore with These Tips<img src="https://assets.site-static.com/userfiles/2549/image/Invest_in.jpg" width="450" height="350" alt="Home equity " title="Home equity" style="float: right; margin: 11px;" />There are plenty of reasons you might decide you want to <a href="https://www.canmoreabhomes.com" target="_blank">invest in a second home in Canmore</a>. As one of the most beautiful places in Canada, <a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">Canmore is a top vacation destination</a> with a thriving real estate market, <a href="https://www.canmoreabhomes.com/blog/5-things-to-do-in-canmore/" target="_blank">plenty to do all year round</a>, and convenient access to Calgary only about an hour away.
If you are looking for ways to offset the cost of investing in a second home in Canmore, this post is for you. This new venture may be more accessible than you think.
Leveraging Home Equity
If you are already a homeowner, you are in an advantageous position to invest in subsequent properties. Leveraging your home equity can be a strategic way to turn your dream of owning a home in Canmore into reality.
Home equity is the difference between your home's current market value and the outstanding balance on your mortgage. It serves as a valuable asset that homeowners can tap into for various purposes, including real estate investments. Leveraging home equity involves using this financial resource to fund a down payment, cover renovation costs, or even entirely purchase a second property.
We know that rising real estate costs have led some hopeful investors to pause, but if you already own a home you are able to benefit from these increased costs because of your increased home equity.
Steps to Take
If you want to use your home equity to fund your new investment, here are some steps to take:
Begin by determining the current market value of your primary residence and calculating your existing mortgage balance. The difference between these two figures represents your home equity. If you would like professional guidance through this process, we can help, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time.
Investigate financing options that allow you to access your home equity for a second home purchase. Home equity loans, home equity lines of credit (HELOCs), or cash-out refinancing are common methods. Each option has its own set of terms, interest rates, and repayment structures, so gather as much information as you can to determine which is the best fit for you.
Familiarize yourself with Canmore's real estate market, including property values, market trends, and potential for rental income. Canmore's scenic beauty and proximity to outdoor activities make it an attractive destination for vacation rentals, but you may also decide you just want the home to be for personal use. You may also want to list the property for <a href="https://www.canmoreabhomes.com/blog/choosing-between-long-term-tenants-and-a-vacation-rental-for-your-canmore-property/" target="_blank">long term tenants instead of as a short term vacation rental</a> for a time.
How Vacation Rentals Offset Investment Costs
Many of our clients are being strategic about their investments by listing them as vacation rentals in the lucrative Canmore market when they are not in personal use. This can be a great strategy for many reasons. Even if your long term plan is to keep the property just for yourself, perhaps as a part time home when you <a href="https://www.canmoreabhomes.com/blog/5-reasons-remote-workers-choose-to-live-in-canmore/" target="_blank">work remotely in Canmore</a> or as a plan for retirement, listing it as a short term vacation rental for a time can significantly offset the costs.
Listing your second home in Canmore as a vacation rental when you're not using it can help offset the financial burden. The income generated from short-term rentals can contribute to mortgage payments, property maintenance, and other associated costs.
In Canmore, the demand for vacation rentals remains steady throughout the year. If you leverage your home equity for down payment and closing costs, and then look to rental income to cover ongoing expenses, you can potentially invest in a second home for almost nothing out of your own pocket.
When you are ready to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">buying a home in Canmore</a>, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a>. We're here to help you find your ideal property.2023-11-09T22:34:20-07:002023-11-10T09:49:09-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20843What to Look For During Your Final Walkthrough for a Canmore Vacation Rental Purchase<img src="https://assets.site-static.com/userfiles/2549/image/final_walkthrough_.jpg" width="450" height="350" alt="Canmore final walkthrough" title="Canmore final walkthrough" style="float: right; margin: 11px;" />If you're here, you likely already know that <a href="https://www.canmoreabhomes.com/blog/why-is-canmore-one-of-the-best-places-to-invest-in-real-estate/" target="_blank">Canmore is an ideal place to invest in a vacation rental property</a>. The demand for vacation rentals in this destination is steady all year round, with <a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">people from around the globe choosing Canmore as their vacation spot</a> no matter the season.
After you have decided to look for <a href="https://www.canmoreabhomes.com" target="_blank">houses for sale in Canmore</a> that will work for your plans, there is a list of things you need to complete to close on the transaction with confidence. One of the last steps in the process is the final walkthrough. Before you show up for the final walkthrough appointment, check out this list of things to note. It's your last chance to observe any issues that need to be resolved.
Features of the Contract
First of all, make sure that anything you and the seller have agreed would be resolved is indeed resolved. During the escrow process, you may have learned from an inspection report that there were necessary repairs that needed to be done; they should be complete during this final walkthrough.
If you requested that any appliances, furniture, or other items be included in the sale, check to see that they are present at the time of the walkthrough. The condition of the home during this final walkthrough is almost certainly the condition it will be in when you close on it, so don't assume that the seller will tie up any loose ends between this point and getting the keys.
Exterior Features
Check the condition of the roof and gutters to ensure there are no signs of damage, leaks, or clogs that may lead to potential structural issues or water damage.
Inspect the exterior siding and paint for any signs of wear, rot, or discoloration, as well as evidence of mold or mildew that may indicate poor maintenance or inadequate weatherproofing.
Evaluate the landscaping and outdoor areas to ensure they are well-maintained, with properly trimmed foliage, manicured lawns, and functional irrigation systems that enhance the property's overall appeal and contribute to a welcoming and visually appealing environment.
Make note of any debris or items that are left outside. You will be responsible to dispose of anything that is left behind, so make sure the seller has removed anything that should not be there.
Evaluate the condition of any outdoor recreational areas, such as patios, decks, and barbecue spaces, to ensure they are structurally sound, well-equipped, and offer guests ample opportunities to relax and immerse themselves in the natural beauty of the surrounding landscapes.
If the property includes spa and fitness facilities, such as saunas, hot tubs, or gym equipment, ensure that these amenities are well-maintained, sanitized, and functioning correctly to provide guests with a luxurious and enjoyable vacation experience in Canmore.
Interior Features
Assess the overall structural integrity of the property, including the walls, ceilings, and floors, to ensure there are no visible signs of cracks, water damage, or foundational issues that may require costly repairs or renovations.
Test the plumbing and electrical systems to verify that all faucets, fixtures, outlets, and switches are in proper working condition, with no signs of leaks, faulty wiring, or potential safety hazards that may compromise the comfort and safety of guests. Bring a small device with you to check that all outlets are working, like a phone charger or small lamp.
Check the functionality of the heating and cooling systems, including furnaces, fireplaces, and air conditioning units, to ensure they provide efficient temperature control and adequate comfort for guests throughout the year, especially during the colder months in Canmore. When we arrive for the final walkthrough, we can turn on the heating or cooling so that it will be obvious while we are there if it is not working properly.
Inspect all appliances and fixtures, such as refrigerators, stoves, dishwashers, and lighting fixtures, to confirm they are in good working order and meet the necessary standards for providing a comfortable and convenient experience for guests during their stay.
Safety and Security
Check the functionality of all smoke and carbon monoxide detectors to ensure they are operational and compliant with safety regulations, providing guests with a secure and protected environment during their stay.
Evaluate the locks, security systems, and surveillance cameras, if applicable, to confirm that they provide adequate protection and peace of mind for guests, safeguarding their belongings and ensuring a secure and worry-free vacation experience in Canmore.
One of the best things you can do for your peace of mind during this process is working with experienced professionals. We have helped many clients find their ideal investment property in Canmore and can help you make sure you are making a smart investment, leaning on our expertise and our network of local experts. Ready to begin the search for your <a href="https://www.canmoreabhomes.com/blog/canmore-vacation-property-guide/" target="_blank">vacation rental property for sale in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-11-05T08:37:58-07:002023-11-05T08:53:04-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20697Choosing Between Long Term Tenants and a Vacation Rental for Your Canmore Property<img src="https://assets.site-static.com/userfiles/2549/image/short_or_long_term.jpg" width="450" height="375" alt="short or long term" title="short or long term" style="float: right; margin: 11px;" />Choosing between listing your rental property in Canmore for a short-term vacation rental or a long-term lease requires careful consideration of various factors, including market trends, financial goals, property management preferences, and local regulations. Canmore has a vibrant tourism industry, a popular destination known for its stunning natural landscapes and outdoor recreational activities, but it's also a great place to live and features a strong long-term rental market.
As you decide what type of rental proeprty you'd like to have, here are some things to keep in mind.
Consider Your Commitment
A great place to start as you decide between long term and short term rentals is to consdier how much you are ready to commit to the property. Short term rental properties generally require more time to management, or a higher cost for a property management team. Long term rentals are generally a more passive source of income, but usually bring in less monthly revenue, as well.
Ask yourself how much you are ready to invest in preparing the property, maintaining it, and marketing it. These are ongoing responsibilities that can define your experience as a real estate investor.
Short Term Vacation Rentals
Demand for Vacation Rentals
Canmore attracts a significant number of tourists throughout the year, especially during peak seasons. Listing your property as a short-term vacation rental can capitalize on the steady flow of tourists seeking temporary accommodation, potentially leading to higher rental income during popular travel periods.
Keep in mind that the demand for short-term vacation rentals in Canmore may fluctuate with seasonal changes, such as the ski season, summer months, and holiday periods. Understanding these fluctuations can help you plan your rental strategy and optimize your property's occupancy rates throughout the year. While there are busier seasons, short term vacation rentals in Canmore generally maintain a high occupancy rate all year round because of the steady demand from tourists around the globe.
Flexibility
Opting for short-term vacation rentals provides you with the flexibility to use the property for personal vacations or to accommodate family and friends during specific periods. This can be advantageous for property owners who value the option of enjoying their property themselves while generating rental income during other times of the year.
If you are deciding between <a href="https://www.canmoreabhomes.com/blog/5-reasons-to-buy-a-vacation-home-in-canmore/" target="_blank">investing in a vacation home</a> or an income property in Canmore, a short term vacation rental might offer the best of both worlds.
Income Potential
Short-term vacation rentals in popular tourist destinations like Canmore often yield higher rental income per night compared to long-term leases. By setting competitive rental rates and providing desirable amenities, you can <a href="https://www.canmoreabhomes.com/blog/how-to-determine-potential-income-from-a-vacation-rental-in-canmore/" target="_blank">maximize your property's income potential</a>, especially during peak travel seasons and holidays.
Initial Investment
While short term vacation rentals are often able to bring in more monthly revenue, remember that they also tend to require a more significant upfront investment. <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">Stocking your vacation rental to be comfortable and appealing</a>, <a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank">attracting your ideal guests</a>, will require furnishing, decorating, and keeping up with consumable products like paper goods.
Property Management
Managing a short-term vacation rental typically requires more hands-on involvement, including overseeing guest check-ins, cleaning services, and property maintenance between bookings. Consider the time and resources required for effective property management or enlist the services of a reputable vacation rental management company to handle these tasks on your behalf.
Long Term Lease
Predictable Income
Opting for a long-term lease can provide you with a stable and predictable rental income stream, as tenants typically sign leases for extended periods, ranging from several months to a year or more. This consistent cash flow can contribute to a reliable financial outlook and help cover ongoing property expenses. It may also help you more confidently determine your budget.
While not always the case, long term leases will generally produce a lower monthly rental rate than short term vacation rentals, but they also tend to require less ongoing management effort.
Less Management Commitment
Long-term leases often involve less frequent turnover and reduced management responsibilities compared to short-term vacation rentals. With longer lease terms, you may have fewer maintenance requests and turnover-related costs, allowing for a more hands-off approach to property management.
Tenant Stability
Long-term leases can foster a sense of stability and community within the property, as tenants establish a more permanent residency. This can lead to better-maintained properties and a lower risk of vacancy, providing a sense of security for property owners seeking a consistent occupancy rate.
Tenant Screening
When leasing your property long-term, thorough tenant screening is essential to ensure reliable and responsible tenants. Additionally, establishing clear guidelines for property maintenance and repair responsibilities can help mitigate potential disputes and ensure the upkeep of your rental property over an extended period.
Ultimately, deciding which way to go with your investment property comes down to a list of pros and cons. Remember that whatever you decide, there's no reason you can't pivot if you change priorities. Don't let analysis paralysis lead you to miss an opportunity.
Ready to begin the search for your Canmore investment property? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time.2023-10-20T21:48:30-07:002023-10-20T22:13:00-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20608Consider These Reasons to Invest in Energy Efficiency in Your Canmore Vacation Rental<img src="https://assets.site-static.com/userfiles/2549/image/Canmore_energy.jpg" width="450" height="375" alt="Energy efficiency" title="Energy efficiency" style="float: right; margin: 11px;" />As you look at <a href="https://www.canmoreabhomes.com" target="_blank">houses for sale in Canmore </a>that will be perfect for your vacation rental plans, we have some things for you to keep in mind. <a href="https://www.canmoreabhomes.com/blog/is-a-fixer-upper-in-canmore-right-for-a-vacation-rental/" target="_blank">Whether you find something that needs some major TLC or a move-in ready property</a>, there are some compelling reasons to prioritize investing in energy efficiency in your vacation rental property.
When you buy a vacation rental property in Canmore, you have the opportunity to enhance its appeal, sustainability, and profitability by incorporating energy-efficient features into your renovation.
Cost Savings
One of the most significant advantages of energy-efficient renovations is long-term cost savings. While it is true that the investment upfront can be significant, you will see this investment pay off over time. Canmore experiences cold winters, and energy-efficient upgrades can help reduce heating costs substantially.
High-efficiency heating systems, well-insulated windows, and enhanced insulation can lower your property's energy consumption, translating into reduced utility bills. These savings can significantly boost your property's profitability over time. Additionally, your guests are going to be happier with your accommodations, which translates into a more successful short term vacation rental business.
Attract Eco-Conscious Guests
As you design your vacation rental and make decisions about what to prioritize in your design, it helps to <a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank">keep your ideal guest in mind</a>. Sustainability and environmental consciousness are increasingly important to travelers. Vacationers who prioritize eco-friendly accommodations are more likely to choose energy-efficient vacation rentals over those without green features. By investing in energy efficiency, you can tap into a growing market of eco-conscious travelers who are willing to pay a premium for sustainable accommodations.
Competitive Edge
The vacation rental market in Canmore is competitive. To stand out from the crowd and attract more guests, it's essential to offer something unique. Energy-efficient features and sustainability initiatives can be a compelling selling point. Highlighting these features in your property listings can make your vacation rental more appealing to potential guests.
Enhanced Comfort
Energy-efficient renovations often result in improved comfort for guests. Well-insulated properties maintain consistent temperatures, reduce drafts, and minimize temperature fluctuations. This translates into a more comfortable and enjoyable stay for your guests, increasing the likelihood of positive reviews and repeat bookings. Remember, <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">positive reviews often translate into profitability</a>.
Positive guest reviews and word-of-mouth recommendations are essential for the success of your vacation rental. Energy-efficient features not only improve the guest experience but also enhance your property's reputation. Guests who appreciate the comfort and sustainability of your rental are more likely to leave positive reviews and recommend your property to others.
Increased Property Value
Energy-efficient renovations can enhance the overall value of your vacation rental property. These upgrades are considered valuable by potential buyers or investors if you decide to sell or expand your real estate portfolio in the future. Energy-efficient features can justify higher asking prices and contribute to a faster resale process.
Traveler preferences evolve over time, and energy efficiency is increasingly a priority. By renovating your vacation rental with sustainability in mind, you position your property to align with current and future guest expectations, ensuring its continued appeal in the market.
Government Incentives
In Alberta, there are often government incentives and rebates available to encourage energy-efficient upgrades. These incentives can offset a portion of your renovation costs, making it more affordable to invest in energy efficiency. Check with local and provincial authorities for available programs and incentives.
Depending on your financial situation and the specific renovations you undertake, you may be eligible for tax benefits related to energy-efficient improvements. Consult with a tax professional or accountant to explore potential tax advantages. As you factor in these benefits, you may find the investment to be even more reasonable.
Positive Impact and Compliance with Regulations
Investing in energy efficiency is not only about financial benefits but also about reducing your property's environmental footprint. Canmore is located in the pristine Canadian Rockies, and minimizing energy consumption helps preserve the natural beauty of the region. By taking steps to reduce your property's energy use, you contribute to the overall sustainability of the area.
In efforts to preserve the natural beauty of places like Canmore and Banff, regulations are being put in place for protection. Energy efficiency standards and regulations are becoming more stringent in many jurisdictions, including Alberta. Renovating your vacation rental to meet or exceed these standards ensures compliance with current and future regulations. This can prevent costly retrofitting in the future and keep your property in line with industry best practices.
If you would like to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">vacation rental properties for sale in Canmore</a>, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a>. We can help you find that ideal property that will help you reach the next step in your real estate goals. 2023-10-09T21:17:27-07:002023-10-09T21:32:27-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20602Watch Out for These Home Inspection Red Flags Before Buying a Vacation Rental in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Watch_Out_for_These_10_Red_Flags.jpg" width="450" height="375" alt="10 Red Flags" title="10 Red Flags" style="float: right; margin: 11px;" />Canmore is an ideal location to invest in a vacation rental property, with steady demand all year round in a location that is growing. <a href="https://www.canmoreabhomes.com" target="_blank">Buying a vacation rental in Canmore </a>is a smart investment that is likely to result in major ROI. However, before you commit to a purchase, it's crucial to conduct a thorough home inspection to identify any potential issues that may affect the property's value, rental income, or your overall investment.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>to learn more about finding the right investment property in Canmore for you. As you move closer toward the investment, here are some red flags to watch for during a home inspection in Canmore:
1. Foundation Problems
Cracks in the foundation or uneven settling can indicate foundation issues are a red flag. In Canmore, where many of the vacation rental properties will have mountainous terrain, foundation stability is crucial.
The impact of cracks or settling in the foundation can be significant. Foundation problems can lead to structural damage, affecting the property's safety and resale value. If your home inspection report reveals foundation issues, consider carefully if you would like to move forward with the transaction. We can help you negotiate with the seller for a reasonable concession based on the condition if you do decide to move forward with it.
2. Roof Condition
Any signs of roof damage, such as missing or damaged shingles, leaks, or sagging, should be noted.
The impact of this type of problem can be costly. Roof repairs or replacements can be quite expensive and urgent, and leaks can lead to interior damage, impacting your vacation rental's reputation and rental income.
3. Plumbing and Water Damage
Water stains on ceilings or walls, dampness in basements or crawl spaces, and water pressure issues are signs of potential plumbing problems and should be treated as a major red flag.
The impact of plumbing issues can be extremely stressful, usually resulting in costly repairs. This is also likely to disrupt the vacation rental experience for guests, and damage the reputation and reviews of your rental property.
4. Electrical Problems
Similar to the plumbing issues, electrical issues are a red flag that needs to be addressed. Outdated or unsafe electrical systems, frequently tripped breakers, or signs of DIY electrical work should be taken seriously.
Electrical problems can pose safety hazards and require immediate attention to ensure guest safety and regulatory compliance. This is something that should be addressed with the seller before closing.
5. HVAC Issues
Inefficient heating or cooling systems, a lack of proper maintenance, or outdated equipment can be problematic in Canmore's fluctuating climate. Your guests will expect a functioning HVAC system that keeps them comfortable during their stay.
Inadequate heating or cooling can result in uncomfortable stays for guests and higher utility costs, and the cost to repair or replace an HVAC system is significant.
6. Pest Infestations
Evidence of pests like rodents, insects, or wood-destroying organisms should be investigated. Pest infestations can lead to property damage and negatively impact your vacation rental's reputation.
While you can of course hire pest control to address the issue, keep in mind that keeping pests out of the property after they have made themselves at home will be an ongoing challenge. Additionally, the presence of pests can be a major issue for guests and result in horrible online reviews if not properly addressed.
7. Structural Integrity
Similar to the foundation issues, structural integrity should be a priority. Sagging floors, walls, or ceilings, as well as signs of rot or decay in structural components, require attention.Structural issues can be extremely expensive to remedy and may pose safety risks.
8. Septic Systems and Well Problems
Make sure you understand the water and plumbing systems in the property you are considering. Issues with the septic system or well, such as backups, odors, or water quality problems, should be assessed.
Septic or well problems can disrupt guest stays and require costly repairs or replacements, especially because they will likely arise as an emergency that needs to be addressed right away.
9. Drainage Issues
Poor drainage around the property, especially in areas prone to heavy snow or rainfall, can lead to water infiltration. Water damage can be extensive and costly to repair, affecting both property value and rental income.
10. Asbestos, Mold, and Other Toxins
The presence of toxic substances should be taken seriously. The presence of asbestos in older homes or mold growth can pose health hazards and require remediation. Asbestos and mold issues can be costly to address and may lead to health complaints or even lawsuits from guests.
Ready to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">investing in a vacation rental property in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us </a>any time.2023-10-06T17:09:31-07:002023-10-06T17:27:20-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20579 Three Sisters Development Decision: A Transformative Step for Canmore
In a recent and pivotal decision, Alberta's highest court has given the green light to the Three Sisters Village and Smith Creek projects, marking a significant milestone in the development landscape of Canmore, Alberta. This development, which encompasses a substantial portion of the town's remaining land, has been a hot topic, sparking debates about affordable housing, wildlife preservation, and the future of the community. As a real estate company deeply invested in Canmore, we want to provide you with an overview of this decision and share our perspective on its implications.<br /><br />The Court of Appeals Ruling:<br />After the Canmore town council initially rejected the Three Sisters Village and Smith Creek projects, the Land and Property Rights Tribunal of Alberta ruled in May 2022 that these developments could proceed. This prompted the town to seek permission to appeal the decision to the Court of Appeal of Alberta. However, the Court of Appeal recently dismissed the town's appeal, upholding the tribunal's decision.<br /><br />The tribunal's ruling found that both developments align with the parameters established in a 1992 review of the Three Sisters area by the Natural Resources Conservation Board. Importantly, the Court of Appeal affirmed that the tribunal had jurisdiction to hear the appeals and did not exceed its authority under the Municipal Government Act.<br /><br />A Divisive Issue:<br />Throughout this process, it has become evident that the planning and development issues surrounding these projects have deeply divided the Canmore community. Strongly held and divergent views have emerged about what the development should or should not entail. It's crucial to acknowledge that the decision to move forward with these developments has been a complex and contentious one.<br /><br />Our Perspective:<br />As a real estate company deeply rooted in the Canmore community, we believe that this decision holds the potential to benefit the town as a whole. While it is undeniable that there are concerns about affordable housing and wildlife preservation, we hope and trust that the Three Sisters Developments will approach this undertaking with a commitment to balancing the needs of Canmore, its residents, and the local wildlife.<br /><br />It's essential to recognize that this is a sensitive issue, with passionate individuals on both sides of the debate. It's easy to point fingers and claim that one side is right and the other is wrong. However, what's important is that everyone involved plays within the established guidelines and respects the legal framework. Change is inevitable in our town, and it's bound to be transformative.<br /><br />In Conclusion:<br />The Three Sisters Development decision will undoubtedly shape the future of Canmore in significant ways. It is a momentous step that will have far-reaching effects on our community. We believe in the potential for positive outcomes and encourage open dialogue and collaboration among all stakeholders.<br /><br />If you have thoughts or questions about this decision and its implications, we invite you to reach out to us. We are eager to engage in conversations with the community we care deeply about. Together, we can navigate this period of change and work towards a Canmore that thrives while preserving its unique natural beauty. Contact me today if you'd like to discuss or have any comments.
Colby Genoway
colby@montayne.ca
(403)501-8356
2023-10-04T13:20:08-07:002023-10-04T13:41:54-07:00Colby Genowaytag:canmoreabhomes.com,2012-09-20:20532Where to Grab a Drink in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Grab_Drinks.jpg" width="450" height="375" alt="Drinks in Canmore" title="Drinks in Canmore" style="float: right; margin: 11px;" />Canmore has become one of the best places to live or vacation in Alberta, surrounded by natural beauty and breathtaking scenery while still offering the shopping, dining, and entertainment you want. If you are looking for the perfect date night cocktail or a place to grab drinks with friends in Canmore, keep reading for a list of a few favorites in town.
The Grizzly Paw Brewing Company
<a href="https://www.thegrizzlypaw.com" target="_blank">The Grizzly Paw Brewing Company</a> is a popular local brewery offering a wide range of craft beers, including ales, lagers, and seasonal brews. Their pub, located in the heart of Canmore, provides a relaxed environment to enjoy both their beer and delicious pub fare. It's the perfect place to enjoy a cold beer after a day of hiking or exploring.
The Wood Restaurant and Lounge
<a href="https://www.thewood.ca" target="_blank">The Wood </a>is known for its creative cocktails and extensive wine list. Whether you're looking for a classic cocktail or something unique, their skilled bartenders can craft the perfect drink for you. The cozy lounge is a great place to unwind.
If you are looking for a place to enjoy a satisfying gourmet meal along with your drink, this is the ideal choice in Canmore.
Tank310
<a href="https://www.thegrizzlypaw.com/our-food/tank310-at-the-grizzly-paw/" target="_blank">Tank310</a>, part of the Grizzly Paw family, offers a diverse selection of craft beers on tap, including many from Alberta breweries. With a laid-back atmosphere, outdoor seating, and views of the surrounding mountains, it's a favorite among locals and visitors alike.
The Drake
<a href="https://www.drakeinn.com/eat-and-drink" target="_blank">The Drake</a> is another local favorite. This Irish-style pub offers a welcoming atmosphere, live music, and a great selection of beers on tap. It's an excellent place to catch a game, enjoy a pint, and savor traditional pub grub.
Canmore Brewing Company
Another fantastic local brewery, <a href="https://canmorebrewing.com" target="_blank">Canmore Brewing Company</a>, is known for its high-quality brews. They have a taproom where you can sample a variety of their beers while taking in the brewery's ambiance.
The ambience is super casual, so you can come straight from the trail to enjoy a beer. If you're hungry, they encourage ordering delivery from one of downtown Canmore's restaurants, straight to the brewery.
The Rose and Crown Restaurant and Pub
<a href="https://www.therosecanmore.com" target="_blank">The Rose and Crown</a> is a British-style pub offering a wide range of beers, including many imports. They often have live music and a friendly, bustling atmosphere that's perfect for hanging out or meeting up with friends. Looking for something to eat, too? They have a full menu of delicious appetizers and entrees to satisfy any craving.
Crazyweed Kitchen
If you're looking for a place that combines delicious food and a rustic atmosphere with great drinks, <a href="https://crazyweed.ca" target="_blank">Crazyweed Kitchen</a> is a top choice. They have an extensive wine list, creative cocktails, and a rotating selection of local craft beers.
The Sensory Restaurant and Wit Bar
If whiskey is what you're craving, <a href="https://www.thesensory.ca" target="_blank">The Sensory</a> is a must. This stylish restaurant and bar offers craft cocktails and an impressive whiskey selection. It's an excellent choice for those who appreciate a more upscale drink experience.
Want to learn more about living in Canmore or investing in real estate in this popular destination? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-09-28T13:43:07-07:002023-09-28T15:06:35-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20481Buying a New Construction Condo in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/New_Condo_Canmore.jpg" width="400" height="370" alt="New Condo Canmore" title="New Condo Canmore" style="float: right; margin: 11px;" />As more people recognize the value of investing in Canmore real estate and the demand for homes in the area increases, more new construction is taking place in the area to keep up with the demand. One of the primary ways we are seeing development take place in Canmore is with new construction condos, which tend to feature luxury amenities and a low-maintenance, comfortable lifestyle.
If you are considering a new construction condo in Canmore, this post is for you. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time with your questions, or keep reading for more information about preparing to buy a brand new condo in Canmore.
Location Matters
There are new construction condos being built throughout Canmore, so take the time to explore and determine your ideal location.
Canmore boasts a variety of neighbourhoods, each with its unique character and proximity to amenities. Consider your lifestyle and preferences when choosing the location of your condo. Do you want to be close to downtown shops and restaurants, or do you prefer a more secluded mountain setting? Or do you plan to leverage the condo as a short term vacation rental and need to keep that goal in mind as you choose your location? Research different neighbourhoods to find the one that best suits your needs, and don't hesitate to <a href="https://www.canmoreabhomes.com/contact/" target="_blank">reach out to us</a> for input.
Mountain Views
In a city as picturesque as Canmore, the orientation of your condo matters in order to take in the mountain views from your windows. When you purchase a new construction condo, you are likely to have choices between different locations within the condo building or community, so keep the views in mind. Determine whether you want a condo with direct mountain views or if you're more interested in privacy and seclusion. Additionally, consider the condo's orientation, as south-facing units may receive more sunlight. Whether it is for your personal home or an income property, the views are often worth the added investment.
Amenities and Features
As you decide between multiple new construction condo choices, pay attention to the amenities and features offered. New construction condos often come with a range of amenities and features. Identify your priorities. Do you want a fitness center, heated underground parking, a communal gathering area, or storage for outdoor gear? Make a list of must-have amenities to help guide your search.
Condo Fees, Reputation, and Requirements
Before selecting a condo, make sure you have a clear understanding of the fees associated and any rules or requirements. This is especially relevant if you have plans to use the condo as a short term vacation rental some or all of the time, as that may not be allowed by all of the developers you are considering.
Condo living typically involves monthly condo fees. These fees cover maintenance, utilities, and shared amenities. It's essential to understand the condo fee structure and budget for these ongoing expenses when evaluating the affordability of a unit.
Condo associations have rules and bylaws that govern the community's operation. Review these documents to ensure they align with your lifestyle and preferences. Some condos may have restrictions on short-term rentals, pet policies, and architectural guidelines.
Don't forget to research the reputation of the condo developer. Experienced and reputable developers are more likely to deliver quality construction and adhere to timelines. Check their track record and reviews from previous projects.
Understand the Construction Process and Your Warranty
Understand the construction timeline for the condo development. New construction projects can take several months or even years to complete. Ensure that the estimated completion date aligns with your plans and timeline. Before finalizing the purchase, consider hiring a professional home inspector to conduct a pre-construction inspection. This can help identify any issues or concerns before they become more challenging to address.
In Alberta, new construction condos often come with warranty coverage provided by the Alberta New Home Warranty Program. Familiarize yourself with the warranty terms and understand what is covered. Remember that even with an excellent warranty, you should also consider purchasing homeowner's insurance to more fully protect your investment.
Ready to learn more about investing in a Canmore condo? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-09-22T12:51:15-07:002023-09-22T13:09:49-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20427Why is Canmore One of the Best Places to Invest in Real Estate?<img src="https://assets.site-static.com/userfiles/2549/image/Why_Canmore.jpg" width="400" height="350" alt="Why Canmore?" title="Why Canmore?" style="float: right; margin: 11px;" />Canmore is a picturesque mountain town nestled in the Canadian Rockies and has become an increasingly popular destination for real estate investment in recent years. Several factors contribute to the appeal of investing in real estate in Canmore. If you're wondering what all the hype is about, here are some of the reasons Canmore is one of the best places to invest in real estate in Canada.
Natural Beauty
Canmore is renowned for its stunning natural surroundings, including the towering Rocky Mountains, pristine lakes, and abundant wildlife. Investors are drawn to the area's breathtaking scenery because it a sought-after location for vacation homes and outdoor enthusiasts, and those looking for a new place to call home are often captivated by the chance to live in such a scenic setting. Canmore is one of the few places that remains equally breathtaking throughout all seasons, with a global reputation as one of the most beautiful places on earth.
Outdoor Recreation
Much like the scenery that can be enjoyed all year round in Canmore, there is always something fun to do outside. From winter sports to hiking or trail running to kayaking to landscape photography, there really is something for everyone and every season.
Canmore is a mecca for outdoor enthusiasts and nearby Banff National Park offers world-class opportunities for nature lovers. Real estate investors are smart to purchase properties with easy access to these outdoor pursuits, appealing to both residents and tourists.
Proximity to Banff
The distance from Canmore to Banff is one of the top reasons to invest here. Canmore is situated just a short drive from Banff National Park, one of Canada's most iconic and visited national parks. The park attracts millions of tourists annually from around the world, providing a steady stream of potential renters for vacation properties. Because the city of Banff has such strict limitations on vacation rentals and development in the area is carefully limited, many investors choose to buy a property in nearby Canmore instead.
Tourism
In addition to the tourists that travel to the area to visit Banff, <a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">Canmore itself is a popular place to vacation</a> both for local tourists from nearby Calgary and elsewhere in Alberta, and those flying in from further away.
Canmore benefits from a thriving tourism industry, which brings in visitors year-round. Many real estate investors see potential in short-term vacation rentals, as tourists seek cozy lodgings close to the natural attractions of the area.
The region's popularity as a tourist destination has created a strong short-term rental market. Investors can capitalize on this by renting out their properties to vacationers when not in use, potentially generating rental income. Canmore is not just a seasonal destination; it offers activities and beauty year-round. Whether it's skiing in the winter, hiking in the summer, or enjoying the fall foliage, there is always something to do and admire.
Investment Potential
Real estate in Canmore has shown a history of appreciation in value, making it an attractive option for long-term investors. The limited land supply and strict zoning regulations contribute to the potential for property value appreciation.
While it is true that real estate properties in general are generally an appreciating asset, locations like Canmore present a unique opportunity because of the inherently limited supply.
Proximity to Calgary
Canmore is conveniently located about an hour and a half drive from Calgary, Alberta's largest city and economic hub. This proximity allows residents to access city amenities and employment opportunities while enjoying the tranquility of mountain living.
If you are considering an investment property, especially a <a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank">short term rental with tourists in mind as your ideal guest</a>, choosing a location that can be easily reached is important. Calgary's international airport makes Canmore an obvious option.
Whether you are <a href="https://www.canmoreabhomes.com/blog/is-canmore-a-good-place-to-live-full-time/" target="_blank">considering Canmore for your new hometown</a>, looking for a personal vacation home, or in search of an income property, we can help you find <a href="https://www.canmoreabhomes.com" target="_blank">houses for sale in Canmore</a> that fit the bill. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more. 2023-09-17T21:09:44-07:002023-09-17T21:28:12-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:203505 Reasons Remote Workers Choose to Live in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/remote.jpg" width="400" height="350" alt="Remote in Canmore" title="Remote in Canmore" style="float: right; margin: 11px;" />Moving to Canmore as a remote worker has become increasingly popular for several compelling reasons. This charming mountain town, nestled in the Canadian Rockies, offers a unique lifestyle that appeals to remote workers seeking a blend of natural beauty, outdoor adventures, and a strong sense of community.
If you have the opportunity to choose anywhere as your new home thanks to your remote job, consider some of the beautiful <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">homes for sale in Canmore</a> and these 5 reasons remote workers choose to live here.
1. Scenic Beauty
Canmore is renowned for its breathtaking natural surroundings. The towering peaks of the Canadian Rockies, pristine lakes, and lush forests provide an awe-inspiring backdrop that can make remote work feel more enjoyable and invigorating. The opportunity to work with a view of the mountains is a significant draw for those seeking inspiration and a change of scenery.
The city's proximity to pristine wilderness is a major attraction. Remote workers can easily access national parks like Banff and Kananaskis, which offer endless opportunities for exploration, wildlife encounters, and nature immersion. These experiences can provide much-needed breaks and rejuvenation.
2. Work-Life Balance
Canmore's lifestyle promotes a healthy work-life balance. After a productive workday, residents can step outside their doors and explore the wilderness, go for a bike ride along scenic trails, or unwind by the riverside. This balance contributes to reduced stress and a higher quality of life.
This community is an outdoor enthusiast's paradise. Remote workers can easily incorporate outdoor activities into their daily routines. Whether it's hiking, mountain biking, skiing, snowshoeing, rock climbing, or simply taking a leisurely stroll, the abundance of outdoor options encourages an active and healthy lifestyle. Just imagine trading in your commute time for a daily hike or bike ride.
3. Proximity to Calgary
Canmore is conveniently located just an hour's drive from Calgary, Alberta's largest city. This proximity provides access to additional job opportunities, services, and cultural amenities when needed, allowing remote workers to enjoy the best of both worlds.
If you need to travel occasionally for work, you will also enjoy being conveniently near Calgary International Airport.
4. Escape from Urban Crowds
Many remote workers appreciate the opportunity to escape the crowded and hectic pace of city life. Canmore offers a peaceful and serene environment, allowing residents to disconnect from the hustle and bustle while remaining connected to the world through remote work.
The tranquil atmosphere of Canmore can create an ideal work environment for remote workers. With less noise and distractions than a bustling city, residents often find it easier to concentrate on their tasks, leading to increased productivity.
5. Community
While there are many people traveling to Canmore throughout the year, it truly is a tight knit and welcoming community. For remote workers, this sense of belonging can be invaluable. Engaging with neighbors, participating in community events, and forming connections with like-minded individuals fosters a strong sense of community that can enhance well-being and combat feelings of isolation that are sometimes associated with working from home.
Canmore may be a smaller town, but it still offers networking opportunities for remote workers. Community events, workshops, and local organizations provide chances to connect with other professionals, exchange ideas, and potentially find collaborations or new opportunities.
Ready to learn more about <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">homes for sale in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.
2023-09-09T17:35:24-07:002023-09-22T12:49:08-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:202957 Items to Negotiate When You Buy a Home in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Negotiations.jpg" width="450" height="400" alt="Negotiations" title="Negotiations" style="float: right; margin: 11px;" />When you set out to <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">find homes for sale in Canmore</a>, whether it is an income property set to become a short term rental or a personal home, you should be prepared to negotiate the best deal. One of the best ways to prepare for this is to choose a real estate team that has local expertise and experience, like us.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about how we can help you purchase the property in Canmore that you are dreaming of, and keep reading for 7 things you may want to negotiate during the sale.
1. Purchase Price
Perhaps one of the most obvious negotiable features in a real estate purchase is the price. However, while it may be obvious that you can negotiate the price, the details are a bit more complex.
There is a fine line between getting a great deal and offering an offer too low to capture the seller's attention. You may either be outbid by other potential buyers, or just ignored by a seller who is either insulted or uninterested.
This is where the importance of working with someone who has local expertise and a wide network comes in. We can help you assess what would be a reasonable offer, understanding the fair market value of a property and having the inside scoop regarding competition for this type of home and any other relevant details.
Remember that the purchase price can also be negotiated after the initial offer is accepted, based on the appraisal or inspection results.
2. Contingencies
Contingencies are simply conditions that must be met for the sale to close. These might include financing contingencies (like the need to sell another property before your financing will go through) or a home inspection contingency (which will say something like the offer is contingent on a clear inspection report).
An appraisal contingency is another important option. If the property doesn't appraise for the agreed-upon purchase price, negotiations may involve the buyer and seller deciding whether to lower the price, dispute the appraisal, or terminate the deal. Negotiating with a contingency like this can provide protection and peace of mind for the buyer.
3. Closing Date
The closing date is when the ownership of the property officially transfers from the seller to the buyer. Negotiating the closing date is important to ensure it aligns with both parties' timelines and needs.
You may want to negotiate for a closing date that is different from the customary 30 days if you have other investments or life events that interfere.
4. Repairs and Maintenance
In addition to a lower purchase price, you may want to negotiate for repairs or maintenance to be done to the property if you discover it is not in the expected condition. This often takes place in conjunction with an inspection contingency when the inspection report reveals a problem.
5. Closing Costs
Negotiations may involve determining how closing costs are split between the buyer and seller. It's common for both parties to share some of the closing costs, but the specific arrangement can be negotiated. Don't feel stuck with the expected division of these costs as there are usually many options, especially in a sellers market and a location like Canmore, where property values quickly appreciate and sellers tend to have substantial equity to work with.
6. Home Warranty
Buyers may request that the seller provide a home warranty, which covers certain repairs and replacements for a specified period after the sale. The terms and cost of the warranty can be negotiated to provide some peace of mind after the sale closes.
7. Personal Property
If you notice during the showing that there is something in the property that you would like included with the sale, this can be negotiated. Let's say there is a piece of furniture that is ideally suited to a unique space. You can negotiate for it to be included.
Negotiations may involve specifying which items or fixtures are included in the sale (e.g., appliances, furniture, light fixtures) and which are excluded. These details are typically outlined in the purchase agreement.
To learn more about <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">buying real estate in Canmore</a>, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time. 2023-09-03T15:08:39-07:002023-09-03T15:29:24-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20227Prioritizing Projects to Renovate Your Canmore Vacation Rental<br /><img src="https://assets.site-static.com/userfiles/2549/image/STR_renovation.jpg" width="400" height="350" alt="STR Renovation" title="STR Renovation" style="float: right; margin: 11px;" />Prioritizing renovation projects in your vacation rental is essential to maximize its appeal to guests and increase your rental income, while using your resources efficiently. The right renovations can enhance the guest experience, boost occupancy rates, and potentially command higher nightly rates.
If you don't prioritize the more important features, you can easily invest too much at the beginning without setting yourself up for success. We've created a guide to help you decide which renovations and home improvements should make the top of your list for <a href="https://www.canmoreabhomes.com" target="_blank">investing in a Canmore vacation rental</a>.
Kitchen and Bathroom Updates
Focus on making the kitchen look fresh and updated, and stocking it fully so your guests have everything they need to make themselves at home. You don't need top of the line everything, unless you are specifically focused on creating a luxury rental that will attract top-paying guests.
In many cases, simply choosing new energy efficient appliances, an updated colour scheme, and fresh hardware and lighting is enough to make your kitchen look great in an online listing and function well for your guests. You may be surprised to learn that you don't need to invest tens of thousands in a kitchen remodel to get the space where it needs to be.
The same is true for bathrooms. Make sure everything feels fresh and clean, but don't worry about choosing top of the line fixtures for your vacation rental. These can blow your budget before the property has a chance to become profitable.
Flooring
Your vacation rental flooring should be durable and easy to clean. It will likely see some major wear and tear, so choose something that can take the beating. Hardwood, laminate, or vinyl flooring is durable and easy to clean, making it ideal for vacation rentals. Place area rugs in high-traffic areas to protect the flooring and add warmth and style, also protecting these areas from damage.
Furniture
The furnishings you choose make a big difference. It may be tempting to go for the budget option, but you want something that can hold up to lots of wear and tear, including spills or other minor damage. Invest in durable, high-quality furniture that can withstand regular use by guests. It makes more financial sense to pay a little more the first time than to be replacing the furniture regularly.
To make sure your guests leave a happy review, ensure that beds have comfortable, supportive mattresses to provide guests with a good night's sleep. Provide ample storage space for guests to unpack and feel at home, and don't forget to make the design modern, fresh, and photogenic.
Safety and Security
It is in the best interest of both you and your guests to invest in smart home technology and security systems that add a level of protection. Install a security system or smart locks for guest safety and peace of mind. Ensure smoke detectors and carbon monoxide detectors are working correctly, and don't forget to leave a well stocked first aid kit for your guests.
Ready to <a href="https://www.canmoreabhomes.com" target="_blank">find the right property to turn into a vacation rental in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-08-23T19:15:17-07:002023-08-23T19:26:59-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20198How to Determine Potential Income from a Vacation Rental in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/www.CanmoreABHomes.com.jpg" width="400" height="350" alt="Vacation rental profitability" title="Vacation rental profitability" style="float: right; margin: 11px;" />Canmore's popularity as a tourist destination and its stunning natural beauty make it an attractive location for vacation rentals. If you are considering an investment in Canmore real estate that can be leveraged as a short term vacation rental, understanding your potential rental income from the property is essential in setting your budget and strategizing your property management plan.
Calculating expected rental income from a vacation rental property in Canmore requires a combination of research, market analysis, and careful consideration of various factors. To help you estimate your potential rental income accurately, we have put together some steps below.
Research the Local Market
Begin by researching the vacation rental market in Canmore. Look for properties similar to the one you're considering, both in terms of size, location, and amenities. Online platforms like Airbnb, VRBO, and local property management websites can provide insights into rental rates for comparable properties.
If you have already established your budget and <a href="https://www.canmoreabhomes.com/blog/operate-a-successful-vacation-rental-by-identifying-your-ideal-guest/" target="_blank">the type of guest you will be marketing toward</a>, you can narrow down truly comparable properties to gain accurate information that directly relates to your plans.
Consider Seasonal Demand
Canmore experiences seasonal variations in tourist demand. Identify peak and off-peak seasons for your type or rental, when rental rates and occupancy levels fluctuate. High-demand periods, such as holidays, festivals, and peak outdoor activity seasons, can command higher rental rates.
While Canmore is a great place to visit any time of year and does not have any dead seasons, there are times with higher demand for accommodations where you can reasonably expect to charge a higher nightly rate.
Calculate Occupancy Rate and Estimated Annual and Monthly Revenue
Estimate the occupancy rate based on the average number of nights your property is likely to be rented per month. For example, if you expect your property to be rented for an average of 20 nights per month, your occupancy rate would be approximately 66.67% (20 divided by 30). You can then multiply the estimated occupancy rate by the total number of nights in a year (365) to calculate the projected number of nights your property will be booked annually and get an idea of your annual revenue.
Using the information gathered from comparable listings, calculate the average rental rate for your property. Keep in mind that rates may vary by season, so you can calculate separate rates for peak and off-peak periods. Multiply the average nightly rental rate by the projected number of nights booked per month. This will give you an estimate of the monthly revenue you can expect from your vacation rental.
As you calculate these things, remember that it is best to be conservative with your numbers. Be careful to avoid ending up in an investment that requires optimal conditions at all times to be profitable.
Account for Vacancy and Unexpected Expenses
No vacation rental operates at 100% occupancy. Factor in vacancy rates, which can vary based on market demand and your property's attractiveness. A common approach is to assume around 75% occupancy for the first year. Also, consider expenses such as cleaning fees, property management fees (if applicable), maintenance costs, and utilities. It is always wise to have a savings buffer for emergencies and unexpected expenses, too.
Estimate Your NOI and ROI
Subtract the estimated annual expenses (including vacancy rates) from the annual income to calculate the net operating income (NOI). This gives you a clearer picture of the property's potential profitability.
Calculate the return on investment (ROI) by dividing the net operating income (NOI) by the total investment (including the property's purchase price, closing costs, and any renovation expenses). A higher ROI indicates a potentially more lucrative investment.
When you are ready to begin looking at houses for sale in Canmore, or you are ready to learn more about investing in a vacation rental here, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a>. We have helped many clients find their ideal property and we would love to help you, too. 2023-08-18T14:12:16-07:002023-08-18T14:29:24-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:20087How to Attract Higher-Paying Guests to Your Canmore Vacation Rental<img src="https://assets.site-static.com/userfiles/2549/image/Canmore2.jpg" width="471" height="353" alt="Luxury Vacation Rental" title="Luxury Vacation Rental" style="float: right; margin: 11px;" />As you prepare to invest in a Canmore vacation rental, you will be calculating your ROI and the expected nightly rate for your property. One of the best ways to strategize for a lucrative investment is to design your vacation rental in such a way that it attracts guests who are looking for a luxury experience and willing to pay more for it.
Finding the right property to buy for your luxury Canmore vacation rental is the first step, and that's where we come in. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to get started on the search for <a href="https://www.canmoreabhomes.com" target="_blank">vacation rentals for sale in Canmore</a>.
To make your Canmore vacation rental more attractive to luxury guests, consider these tips.
Premium Interior Design
Invest in upscale furnishings, decor, and finishes that exude luxury. Choose quality materials, stylish furniture, and elegant decor items that create a sophisticated and comfortable ambiance.
Offer high-thread-count sheets, plush towels, and luxurious bedding for a comfortable and indulgent sleep experience.
Transform bathrooms into spa-like retreats with rain showers, deep soaking tubs, high-end toiletries, and soft robes.
Supply premium toiletries, luxury bath products, and high-quality amenities that align with the luxury experience.
The extra attention to detail that you give to furnishing and design will allow you to justify a higher price point and attract the guests who are looking for this high-end experience.
High-End Appliances and Amenities
Equip your vacation rental with top-of-the-line appliances, such as gourmet kitchen appliances, premium coffee makers, and smart home technology. Offer amenities like heated floors, private pools, hot tubs, and high-speed internet.
You can also look for ways to implement amenities and entertainment that will set your rental apart from comparable rentals in the area. While many Canmore visitors are there for the many attractions in the surrounding area, they still want a luxurious experience when they return at the end of the day. Consider adding a luxury feature like:
Built in outdoor fireplace
Gourmet kitchen (indoor or outdoor)
Game room with retro arcade games
Home theater
Luxury Guest Experience
Make your vacation rental stand out among others, offering your guests an experience they would expect from a luxury resort. Provide a personalized welcome experience that includes a curated welcome basket, champagne, fresh flowers, and locally sourced treats. Consider a handwritten note to make guests feel truly valued.
You can also consider additional amenities, like a concierge service that can be provided to streamline the vacation planning process for your guests or laundry service available at the midpoint of the stay. Another popular luxury option is offering a private chef service as an add-on for the stay. Consider offering custom experiences, such as arranging private tours, wine tastings, or exclusive access to local attractions.
Privacy and Security
Guests who are willing to pay more for their stay are often those who require more privacy and discretion, including celebrities or other high-profile guests. They also may be traveling with valuables that they want to be confident are safe.
With this in mind, ensure the property offers a high level of privacy and security. Install advanced security systems and provide secure entry options for guests, depending on smart home technology to create a convenient and secure experience.
Premium Marketing
Before you can wow your guests with your carefully selected furnishings and amenities, they need to find your vacation rental in the first place. Well executed marketing is key to stand out to your ideal guest.
Market your property through professional photos, videos, and a well-designed website that conveys the luxury experience. Leverage social media and travel platforms that attract luxury travelers and don't depend on one vacation rental platform to attract your ideal guests.
Ready to start the search for your <a href="https://www.canmoreabhomes.com" target="_blank">Canmore investment property</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-08-11T21:17:36-07:002023-08-11T21:34:51-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19418Operate a Successful Vacation Rental in Canmore by Identifying Your Ideal Guest<img src="https://assets.site-static.com/userfiles/2549/image/Canmore.jpg" width="432" height="324" alt="Guests in Canmore" title="Ideal Guests in Canmore" style="float: right; margin: 11px;" />Designing a vacation rental involves more than just creating a comfortable and aesthetically pleasing space – it's also about tailoring the experience to a specific target audience. Identifying the right audience and catering to their preferences can significantly impact the success and profitability of your vacation rental.
Canmore is an ideal location for investing in a vacation rental. With steady demand from toursits around the globe all year long, you have the opportunity to <a href="https://www.canmoreabhomes.com/blog/the-key-to-maintaining-5-star-reviews-in-your-canmore-vacation-rental-in-2023/" target="_blank">achieve an impressive occupancy rate</a> and create a signficiant stream of passive income. In order to do this, you need the right strategy to attract the right guests, and this starts with knowing who your ideal guest is.
Not sure who your ideal guest would be? We have some things to think about.
Clearly Define your Goals
Before you start catering to a specific audience, clarify your goals as a vacation rental owner. Are you aiming for maximum occupancy, higher rental rates, or a balance between the two? Your goals will influence the type of guests you attract and how you design the space.
Choose a Niche
Rather than trying to appeal to everyone, consider choosing a specific niche or target audience. This could be adventure seekers, luxury travelers, pet-friendly vacationers, or cultural explorers. Focusing on a niche can help your rental stand out in a crowded market. Canmore has many vacation rentals, but maintains a steady demand from tourists to support them all. However, catering to a specific audience will help you quickly stand out when visitors search for accommodations.
For example, <a href="https://www.canmoreabhomes.com/blog/how-to-attract-families-to-your-vacation-rental-in-canmore/" target="_blank">catering to families in your vacation rental design</a> can be as simple as providing cribs, childproofing options, and a high chair. These features can be advertised on your listing to market yourself to young families visiting Canmore.
Likewise, many tourists visiting Canmore are travel influencers who want to be able to document their entire trip in an aesthetically pleasing way. These guests are more likely to <a href="https://www.canmoreabhomes.com/blog/how-a-photogenic-vacation-rental-can-be-more-profitable/" target="_blank">choose a vacation rental based on its design appeal</a> and on trend aesthetic than others.
Be Practical
As you decide who your ideal guests would be, be practical about the properties that are available in your budget. Do they make more sense for a couple on a romantic getaway, a large group of friends or extended family, or a small group with children? You can design your vacation rental to suit any group, but looking at which will take the most reasonable investment is going to work in your best interest.
Because so many diverse types of visitors frequent Canmore, you have a wide range of options available to you.
Consider Amenities You Will Offer
Consider the amenities and services that your target audience values most. Families might appreciate a well-equipped kitchen and kid-friendly amenities, while business travelers might need a comfortable workspace. Offering relevant amenities enhances the guest experience and attracts the right people. You may naturally fall into a certain category based on the amenities you are finding in potential properties.
Pricing Strategy
Remember that the type of guest you are catering to will also determine your pricing strategy. For example, a couple on a honeymoon is likely willing to pay a higher price for a more luxurious experience, while a group of hikers may be simply looking for the most affordable choice even if it means fewer comforts.
Your pricing strategy should align with your target audience's budget. Luxury travelers might be willing to pay a premium for high-end amenities, while budget-conscious travelers might appreciate competitive rates. Both strategies can be effective and profitable, but you should choose one and stick with it.
When you have decided what you are looking for, or you want to learn more about buying real estate in Canmore, contact us to get started.2023-08-04T18:17:25-07:002023-08-04T18:32:36-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19409Is Now the Time to Buy a Short-term Rental?Canmore is an amazing destination location. People travel from all over the world to come and stay in Canmore. That is why we have always had a strong Hotel Condo or vacation rental market. Where is that market at today? If you are a vacation condo buyer, then this is what you need to be thinking about.
From a statistics standpoint, July 2023 was a busy month. We had 59 Hotel condos/tourist homes reported sold vs 12 in July of the previous year. While that is a huge jump from just one year ago, on a year to date scale, the number of units sold is still down 18% vs same period last year. July saw an influx of 55 new listings vs a mere 18 in June of 2023 and, for comparison, just 17 in July of 2022. But when we dig deeper, 47 of those units are presale at one of the new developments in town.<img src="https://assets.site-static.com/userfiles/2549/image/uncertainty-ahead.jpg" width="164" height="164" class="img_box_right" />
So what does this mean? Is it a good time to buy? My advice, patience is the key to today's market. We are bracing ourselves for even higher interest rates and that means potentially affected average daily rates and with an increase in supply, and potentially more to come, the outcome of these variables has yet to be determined.
We currently are seeing a shift from comparative value to revenue value. Pre-pandemic, buyers in this market were looking at appreciation based on CAP rates. For many years, buyers looked for an 8-10% return on purchase price and 20-30% cash on cash return. In today's economy, we are beginning to see strong occupancy ADR be affected by consumer spending habits.
So now is the time for patience. We need to see how the market will respond to this new inventory coming to the market, rising interest rates and the potential need for over-leveraged owners to sell.
That doesn’t mean there isn’t opportunity for the savvy investor. There are still properties we are bullish on. When these units come to market, we believe them to be a good solid investment based on location, views, amenities, occupancy and ADR. There are others we have become more bearish on. These are not ones we would consider for ourselves in the current market and we would encourage our clients to have patience till the right unit becomes available.
With advice from someone with a solid understanding of the market and the different offerings that may become available, there is opportunity for smart investments. So lock in those rates and then be prepared to wait for the right opportunity!
2023-08-04T08:21:23-07:002023-08-09T10:18:06-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19229Increase the Resale Value of Your Canmore Home with These Upgrades<img src="https://assets.site-static.com/userfiles/2549/image/sell.jpg" width="450" height="320" alt="Sell your home" title="Sell your home" style="float: right; margin: 11px;" />Upgrading your home for resale value is a smart investment that can help attract potential buyers, command a higher sale price, and shorten the time your property spends on the market. When planning upgrades, it's essential to focus on improvements that align with current market trends and appeal to a broad range of buyers.
We can help you <a href="https://www.canmoreabhomes.com/sellers/free-market-analysis/" target="_blank">assess the market value of your home in Canmore</a> and prepare it to attract your ideal buyer, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to learn more.
These are some of the best home improvements for increasing resale value. If you're not sure which are worth prioritizing for your home, reach out to us any time for an expert opinion.
Kitchen Renovation
The kitchen is often considered the heart of the home and a top priority for many buyers. Consider updating the kitchen with modern appliances, new countertops, and stylish cabinetry. Neutral color schemes and timeless designs tend to appeal to a wider audience.
Bathroom Renovation
Like the kitchen, bathrooms are high-impact areas for homebuyers. Update the bathroom fixtures, install a new vanity, and consider adding a glass-enclosed shower or a luxurious soaking tub. Clean, contemporary designs are more likely to attract buyers.
Energy Efficiency
With growing environmental consciousness, <a href="https://www.canmoreabhomes.com/blog/high-tech-home-upgrades-to-save-money-and-energy-in-2023/" target="_blank">energy-efficient features are becoming increasingly desirable for homebuyers</a>. Consider adding solar panels, upgrading windows and insulation, and investing in energy-efficient appliances. These updates not only appeal to buyers but also reduce utility costs, making your home more attractive in the long run.
Curb Appeal
In a market like Canmore, with a major emphasis on outdoor space, curb appeal should be a top priority for sellers. First impressions matter, and enhancing your home's curb appeal can significantly impact resale value. Invest in landscaping, update the front door, and consider a fresh coat of paint for the exterior. A well-maintained and attractive exterior will draw potential buyers inside.
Hardwood Flooring
Hardwood floors are a timeless and durable choice that appeals to many buyers. Consider replacing carpeting or outdated flooring with hardwood or engineered wood, which can elevate the overall look and feel of your home.
Smart Home Technology
Integrate smart home features, such as smart thermostats, security systems, and lighting controls. These modern amenities not only enhance convenience but also appeal to tech-savvy buyers.
<a href="https://www.canmoreabhomes.com/blog/must-have-smart-home-features-for-vacation-rentals/" target="_blank">Smart home features are a top priority for vacation home rental owners</a>, too, so adding these features can make your property stand out to the many investors in the market.
Outdoor Living Spaces
Surrounded by such breathtaking natural beauty, outdoor living spaces are highly desirable in Canmore. Consider adding a deck, patio, or a screened-in porch to extend the living area and provide more opportunities for outdoor entertainment.
Declutter and Stage
Even though you may not consider it a home upgrade, the decluttering and staging process is essential for top resale value. Before putting your home on the market, declutter and depersonalize the space. Potential buyers want to envision themselves living in the home, so remove personal items and consider professional staging to showcase the home's best features.
Ready to learn more about <a href="https://www.canmoreabhomes.com/sellers/" target="_blank">selling your home in Canmore</a>? <a href="https://www.canmoreabhomes.com/sellers/free-market-analysis/" target="_blank">Contact us</a> any time.2023-07-28T13:20:39-07:002023-07-28T13:38:46-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19190Best Timing to Buy a Vacation Rental in CanmoreAre you dreaming of investing in a vacation rental in Canmore? With such a steady demand for vacation rental properties all year long in Canmore, this is a great way to create a stream of passive income while acquiring an asset you can benefit from immediately. Whether you plan to invest with friends or family, or are looking for something you can purchase yourself, we are here to help.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about finding the right property to turn into a Canmore vacation rental. We can help you find homes for sale in Canmore in a range of prices and style to work with your goals.
Keep in mind that timing is everything. Here is what you need to know about the best time to buy a vacation rental property in Canmore.
Seasonal Demand
Consider the seasonality of your desired location. In general, <a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">Canmore is a desirable vacation destination all year round</a>, but there are some seasons when you could earn the highest rental income. This tends to be during the summer months when the busiest tourism season is taking place and most international tourists come to see Banff National Park and more.
With this seasonality in mind, consider whether you would like to have your property ready to host guests by summertime or if you would like more of a soft start in the "off-season."
Renovation Timelines
As you look for properties, consider how long they would take to be ready for renting. Will you only need to <a href="https://www.canmoreabhomes.com/blog/how-to-decorate-your-canmore-vacation-rental-in-2023/" target="_blank">decorate</a> and furnish, or is this a property that will require a renovation.
Ideally, you will have the property ready in time to start booking for the busiest tourism season. That means being able to start booking months in advance, so you should ideally have a property you can list online in the early spring.
Ultimately, any time is a great time in Canmore to invest. Though there is a busier season, the demand for vacation rentals stay relatively steady throughout the year.
Personal Finances
Evaluate your own financial situation and ability to finance the investment. Consider your budget, down payment, and ongoing costs like property taxes, insurance, maintenance, and property management fees.
This may affect your timeline if you anticipate a change in your finances in the near future. For example, if you are expecting a bonus at the end of the year, you may want to wait for that to use as capital toward the investment.
Long-Term Goals
Determine your long-term investment goals. Are you looking for a property that will primarily be a vacation rental, or do you plan to use it occasionally for personal use as well? Your long-term vision for the property may influence the timing of your investment.
Personal Capacity
While owning a short term rental property in Canmore is designed to become passive income, it will require some significant time and effort upfront, and some level of ongoing management.
Take a look at your personal and professional life and determine whether you have the time required to turn a property into a vacation rental right now, including furnishing, marketing, and <a href="https://www.canmoreabhomes.com/blog/how-to-stock-your-vacation-rental/" target="_blank">stocking the short term rental</a>. You should also determine whether you have the capacity in your current schedule to be a property manager, or if you should outsource these tasks to a management company.
With <a href="https://www.canmoreabhomes.com/blog/must-have-smart-home-features-for-vacation-rentals/" target="_blank">smart home features installed in your vacation rental</a>, you can make the process of managing the property more efficient, but you should still assess when the right time is to take this new task on and work through the initial learning curve and increase time commitment.
Ready to begin the search for your vacation rental property in Canmore, or do you have more questions? We would love to help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-07-21T11:41:10-07:002023-07-28T12:40:50-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19130Buying a Canmore Vacation Home with Friends or FamilyWhen considering the purchase of a vacation home, many people wonder if they should split the investment with friends and/or family, lowering the investment amount, sharing the load of maintenance among multiple households, and making it easy to vacation together for years to come.
If you are considering <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">buying a Canmore vacation home</a> or rental property with friends or family, <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time, and keep reading for some things you might want to keep in mind.
Benefits of Investing with Friends or Family
Investing in a vacation home with friends or family can offer several benefits, both financially and personally.
Shared Financial Responsibility
One of the primary reasons people consider investing in a vacation with others is a desire to share the financial responsibility of the investment. Pooling resources with friends or family members allows for shared financial responsibility.
The costs associated with purchasing and maintaining a vacation home, such as the down payment, mortgage payments, property taxes, insurance, and maintenance expenses, can be divided among multiple owners. This can make the financial burden more manageable and affordable for each individual. This also may mean that individuals who otherwise cannot yet afford a Canmore vacation home can achieve the dream more quickly than expected.
Increased Buying Power
vesting in a vacation home as a group increases your collective buying power. It allows you to consider properties that may have been beyond your individual budget. With a larger budget, you can potentially explore properties in prime locations or with desirable amenities that may not have been possible otherwise.
Canmore is a real estate market that is ideal for those with large budgets, featuring luxury vacation homes that may be outside the normal budget for individual owners but affordable for a group of co-owners.
Sharing the Maintenance Load
Maintaining and managing a vacation home can be time-consuming and demanding. By sharing the responsibilities among multiple owners, the workload becomes more manageable. Tasks such as property maintenance, repairs, cleaning, and furnishing can be divided, ensuring that no single individual bears the entire burden.
Cost Sharing for Upgrades
As co-owners, you can share the costs of any upgrades or renovations to improve the vacation home. This allows for shared decision-making and a collective investment in enhancing the property's value and comfort. From remodeling the kitchen to adding additional amenities, the costs can be divided, making it more feasible to upgrade the property over time.
While this will require cooperation and collaboration, it can mutually benefit all co-owners by increasing the property value and making the space more enjoyable and functional.
Potential for Passive Income
Chances are good that even with multiple owners, the vacation home will not be used all year long. In a location like Canmore, you can easily attract renters all year long.
By creating a shared calendar where all owners can block off dates they would like to use the vacation home, you can see when the property can be listed as a short term vacation rental.
This can offset the cost of the vacation home, allowing everyone to enjoy it when they want to while leveraging the property as a source of income when it is not in use by the owners. By sharing the rental income among the co-owners, it can help to cover the costs associated with the property, including mortgage payments, taxes, and maintenance expenses. This additional income can contribute to the financial viability of the investment and potentially shorten the time needed to recoup the initial investment.
Shared Memories
Investing in a vacation home with friends or family can strengthen your relationships and create lasting memories. Owning a shared property offers opportunities for shared experiences, family gatherings, and quality time together. If the vacation home is large enough to house all of your at once, it provides a common space for bonding and creating cherished memories that can be passed down through generations.
Drawbacks to Shared Ownership
While shared ownership of a vacation rental can have many advantages, it's important to be aware of potential drawbacks and challenges. Nearly all of these challenges will come down to fairness; co-owners want to contribute equally and benefit equally.
Owning a vacation rental property comes with potential unexpected expenses and liabilities. These could include unexpected repairs, property damage, legal liabilities, or changes in local regulations that may impact the property. Co-owners must be prepared to handle these situations and should establish a contingency plan or reserve fund to cover unexpected expenses.
One of the best ways to mitigate the risk of damaged relationships or a high conflict scenario with your shared vacation home is to put together a contract ahead of time, as well as getting all scheduling, maintenance responsibilities, and house rules on paper so the communication is clear.
Take the time to put together a legal document for the financial side of the investment. A well-drafted legal agreement, clear communication, and a shared vision among co-owners will make all the difference. Engaging the services of legal professionals and establishing a management structure that outlines roles, responsibilities, decision-making processes, financial arrangements, and dispute resolution mechanisms can help ensure a smoother and more successful shared ownership experience.
Ready to begin <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">searching for a Canmore vacation home</a> you can buy with family or friends? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-07-13T15:14:05-07:002023-07-13T15:39:45-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:190615 Tips for Choosing Real Estate in Canmore with Your Partner<img src="https://assets.site-static.com/userfiles/2549/image/House_hunting_with_a_partner.jpg" width="450" height="380" alt="House hunting with a partner" title="House hunting with a partner" style="float: right; margin: 11px;" />Collaborative decisions can be a challenge for any couple, especially when a significant investment is involved. If you have agreed that you would like to invest in real estate in Canmore, either as a personal home, an income property, or a vacation home, we have 5 tips to help you navigate this multifaceted decision making process with your partner.
<a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about buying a home in Canmore, or check out these 5 tips to prepare for a peaceful and successful home search process with your partner.
1. Define your must-haves and deal-breakers
Make a list of your must-have features and deal-breakers for the home. This could include the number of bedrooms, bathrooms, yard size, location, proximity to schools or work, or specific amenities. Having a clear understanding of your non-negotiables will help you focus on homes that meet your essential criteria.
You should each make a list of these must haves and deal-breakers, and then prioritize the list so that your top few items are clear.
2. Be mentally prepared to compromise
Recognize that compromise is essential when making joint decisions. Be willing to adjust your expectations and find common ground with your partner. This is where prioritizing your must-haves comes in; when you make your wish list in order of importance, you will be able to invest in something you love while being open to compromise on other less-important aspects of the home.
3. Communicate clearly
Clear communication is key in any area of a partnership, and it is no different when investing in real estate. Start by having open and honest conversations with your partner about your individual priorities, preferences, and long-term goals. Discuss factors such as location, budget, size, amenities, and lifestyle to ensure you're on the same page and can make informed decisions together.
As you get into the house hunting process, remain open and communicative with each other. It is best to share your thoughts openly during the shopping process to avoid buyer's remorse and unnecessary conflict.
4. Agree on your budget
Determine your budget as a couple by considering your combined finances, savings, and the maximum mortgage amount you can afford. Establishing a clear budget before you begin your search will help you narrow down your options and avoid overextending yourselves financially.
Financial stress is one of the leading causes of relationship tension. Make sure you are going to strengthen your relationship with this investment, not compromise it. The best way to do this is to talk with multiple lenders to familiarize yourself with your options, and then have a clear conversation about how much you are both comfortable investing. Whether this will be your primary home, second home, or a rental property, you need to be on the same page about your budget.
5. Choose a professional you can both trust
The real estate agent you choose to work with will make a significant impact on your home buying journey. You need someone with local expertise, years of experience, and a track record you can trust.
Our team of real estate professionals can provide you with all of that and more. Ready to begin the search for the right property? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-07-06T09:48:12-07:002023-07-06T10:08:03-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:19012How to Know You're Ready to Invest in Real Estate in 2023<img src="https://assets.site-static.com/userfiles/2549/image/Invest_in_real_estate.jpg" width="437" height="369" alt="real estate investing" title="real estate investing" style="float: right; margin: 11px;" />Real estate investment presents an exciting opportunity to begin a new career, create streams of passive income, or build generational wealth and financial freedom. If investing in real estate is something you want to do, but have not yet begun, here's what you need to know to determine if you are ready.
We can help you find your ideal property to get started in Canmore or Banff. With a steady demand from tourists from around the globe, this location is ideal for a vacation rental endeavor. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more.
Before diving into the world of real estate investing, it's crucial to assess your readiness and ensure you have the necessary resources, knowledge, and mindset to make informed decisions. Here are some key indicators that can help you determine if you're ready to invest in real estate.
Financial Stability
Of course one of the first steps in real estate investing is determining how you will fund the investments. While these investments often end up lucrative enough to pay for themselves and then fund a subsequent property, you will need some capital to get started.
You know you are ready to invest in real estate if you either have this capital free and ready to leverage in your investment, or you have made connections with partners who want to provide the capital needed.
Whether you have the initial funds from your own assets or the contribution of a partner, you should also make sure you are financially prepared to handle the inevitable bumps in the road that come with owning real estate. Assess your financial health and ensure you have enough savings to cover unexpected expenses or vacancies in your investment property.
Clear Goals
One of the keys to success in any venture is clear goals. Clarify your investment goals and understand what you hope to achieve through real estate investing. Are you looking for long-term wealth accumulation, passive income, or diversification of your investment portfolio? Knowing your goals will help you make strategic decisions as you evaluate potential investment opportunities.
Market Research
Have you taken the time to research where you plan to invest? Not all markets offer equal opportunities. For example, in Canmore you will find steady demand from vacationers who are ready to spend a little more for their dream vacation. Not all markets will have this year round demand. Understanding the market will help you identify opportunities and make informed investment decisions.
Risk Tolerance
You are ready to invest in real estate when you understand your risk tolerance. Everyone has a different tolerance for the risk that is inherently a part of investing in anything, including real estate. While real estate can be considered less risky than some other ventures, there is still the possibility of things happening beyond your control that derail your plans.
Assess your risk tolerance level and determine if you're comfortable with the potential ups and downs of the real estate market. Consider factors such as market volatility, financing risks, property management challenges, and unexpected expenses. A realistic understanding of the risks involved will help you make better decisions.
Time Commitment
Real estate investing requires time and effort. Consider if you have the necessary time to dedicate to property research, due diligence, property management, and dealing with tenants. If you have a busy schedule or limited time availability, you may need to explore alternative investment options or consider hiring a property management company. Outsourcing some of the work can be an ideal solution that allows this to be a more passive investment.
Financing
Before you begin searching for your investment property, explore your financing options. Research various financing options, such as traditional mortgages, private lenders, or real estate investment trusts (REITs). Understanding your financial capabilities will help you determine the type and size of investments you can pursue.
Ready to learn more about finding your ideal <a href="https://www.canmoreabhomes.com" target="_blank">real estate investment in Canmore</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-06-30T16:54:20-07:002023-06-30T17:12:11-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18470Is a Fixer Upper in Canmore Right for a Vacation Rental?<img src="https://assets.site-static.com/userfiles/2549/image/Fixer_upper.jpg" width="450" height="380" alt="Fixer Upper" title="Fixer Upper" style="float: right; margin: 11px;" />If you are considering investing in a short term vacation rental in Canmore, you are on to something great. This is a competitive market for good reason, with steady demand from tourists that means a vacation rental property has the potential to be massively profitable.
Finding the right property for your vacation rental is key. We can help you find exactly what you're looking for in Canmore, so <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time.
Some investors opt to buy a fixer upper to transform into a vacation rental, presenting the possibility to saving money. After all, most vacation rental properties require some renovation anyway, so why not get a great deal on a property that needs some extra attention?
If buying a fixer upper to turn into a vacation rental in Canmore is on your radar, here are some things to keep in mind.
Be realistic about the renovation budget
One of the primary ways investors fail when buying a fixer upper is by underestimating what it will cost to renovate the property. Be realistic about how much you want to invest and how much a property will take to prepare it for guests.
Set a realistic budget that includes both the purchase price and renovation costs. Factor in the necessary repairs, updates, and renovations needed to transform the fixer-upper into a desirable vacation rental, including furnishing and stocking the property. Be mindful of cost overruns and unexpected expenses that may arise during the renovation process. It is advisable to consult with contractors or professionals to get accurate estimates.
Pay careful attention to the inspection
When you are considering a fixer upper, it is even more important than ever to pay careful attention to the home inspection report. Look for any signs that the property needs even more attention than you may have realized. While some fixer uppers are merely in need of cosmetic updating, many of them will also have pest problems, cracks of the foundation, outdated plumbing and electrical, or other major and costly issues.
Consider the convenience of the location
When you know a major renovation is involved, keep in mind that the location of your vacation rental is key. Being able to bring in delivery trucks and equipment to complete the renovation is essential, and if the property has a difficult driveway or is challenging to reach in some way, this can increase your renovation costs or make certain projects impossible. Keep the convenience of the location in mind as you are choosing the right fixer upper for your plans.
Prioritize renovations that increase revenue potential
As you design the fixer upper project, prioritize the renovations that will have the best ROI for rental income potential. Consider the features that make a property appealing to vacation rental guests.
For example, if you can choose to make a half bathroom into a full bathroom or create an additional bedroom, you can attract larger groups and charge a higher nightly rate. And updated kitchen is another top feature Canmore tourists are looking for. Other amenities that might draw your ideal guests include hot tubs, fire places, and kid-friendly spaces. Incorporate design elements and functionality that align with the preferences and needs of your ideal guest to drive revenue.
Be honest about how much time you have
A fixer upper does present the potential to make some major profit, but it also tends to come with some unexpected bumps in the road. Nearly every renovation story includes an unpleasant surprise or a delay in the timeline. Before taking on a fixer upper project, be honest with yourself about how much time you have in your schedule to contribute to the project, whether it is for hands-on, DIY projects or for the planning.
Remember that even if you hire professionals to complete the renovation, the timeline is a tentative estimate. Make sure you can be flexible about the end date without it becoming a major issue.
Ready to begin the search for the right property for your Canmore vacation rental? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. 2023-06-21T21:09:31-07:002023-06-21T21:36:22-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18412Try These Canmore Ice Cream Shops on Your Next Vacation<img src="https://assets.site-static.com/userfiles/2549/image/Canmore_ice_cream.jpg" width="450" height="380" alt="Canmore ice cream" title="Canmore ice cream" style="float: right; margin: 11px;" />In our opinion, every vacation should feature some extra treats. Satisfy your sweet tooth during your Canmore vacation at one of these local ice cream shops, or better yet try them all and rank your favorites.
<a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">Canmore is a great place to vacation</a> for many reasons, one of which being the ideal blend between raw natural scenery and conveniences in the downtown area. You can enjoy a breathtaking hike in the gorgeous Canadian Rockies, feeling totally away from it all, and still head back at the end of the day to enjoy a gourmet scoop of ice cream before relaxing into your vacation home.
Add these local ice cream shops to your list before your next trip.
1. The Old School Bus
As the name implies, this ice cream shop is a converted vintage school bus that serves cups and cones from the windows. There are tables and seating set around the bus, which is parked at the edge of downtown Canmore.
Choose from over 25 flavors of ice creams and sorbets, or order a special ice cream float. They also leave out water for dogs so you can bring your pets along to enjoy an end of the day treat on the patio. <a href="https://www.facebook.com/people/Old-School-Bus-Ice-Cream/100063489856062/" target="_blank">The Old School Bus Ice Cream</a> is open seasonally, so check their dates to make sure you don't miss out.
2. Scratch Rare Ice Cream
<a href="https://www.facebook.com/scratchrareicecream/" target="_blank">Scratch Rare Ice Cream</a> is hand crafted by the chefs at Blake Canmore (a great place to grab dinner). These scratch made, small batch ice creams are some of the best gourmet dessert options in all of Canmore.
A limited menu of just 3 dairy and 3 plant based flavours changes daily, so you may want to stop by multiple times during your trip to try as many as you can. Generous serving sizes and unique flavour combinations, like vanilla with graham cracker and mini chocolate eggs or strawberry rhubarb compote and oatmeal cookie crumbles in vanilla, are sure to satisfy.
3. Sweet Revenge
For a positively decadent ice cream sundae, check out <a href="https://www.instagram.com/sweetrevengecanmore/?hl=en" target="_blank">Sweet Revenge</a>. Their indulgent flavour combinations are unique and memorable, like truffle oil and black sea salt on the Butter Honey Sundae or the Cookie Monster Sundae with chocolate and vanilla swirl, Oreos, cookie dough, and more. Another favorite is the Ha Ling Peak Sundae, named of course for the famous nearby hike, featuring hot fudge, salted caramel, and a peanut caramel crunch.
4. Cacao 70
If you'd like to avoid the busyness of downtown Canmore during the summer tourism season, try <a href="https://cacao70.com/en/our-locations/canmore" target="_blank">Cacoa 70</a>. It is located in the Shops of Canmore, set apart from the busiest area of town. In addition to delicious ice cream, they have a wonderful breakfast menu, so you may want to plan a trip for a morning meal before a day of exploring.
Their ice cream menu consists of just a few classic flavours. As the name implies, their ice cream choices emphasize chocolate, and the price and serving size make it one of the more affordable ice cream options in Canmore.
5. Lovely Ice Cream
Born as a passion project when the owner began learning to make ice cream during the COVID lockdown, <a href="https://www.lovelyicecream.ca" target="_blank">Lovely Ice Cream</a> features hand crafted, scratch made ice cream. The attention to detail and commitment to small batches makes a major difference here. They are committed to using only real food ingredients, with no colouring, flavouring, or additives so that you can enjoy ice cream as if you were making it at home.
With homemade quality and a reasonable price point, this is one of the best ice cream options in Canmore. In addition to classic flavours, try something like Chai or Jupiter (chocolate and orange).
Are you considering a Canmore vacation home of your own? Whether it's going to be an income property or a second home for personal use, Canmore is a great place to invest in real estate. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more about <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">vacation homes for sale in Canmore</a> and how we can help you find the right one for you. 2023-06-13T14:29:51-07:002023-06-13T15:02:45-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18388The Key to Maintaining 5 Star Reviews in Your Canmore Vacation Rental in 2023<a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank"><img src="https://assets.site-static.com/userfiles/2549/image/How_to_Earn_5_star_reviews.jpg" width="450" height="380" alt="5 star reviews" title="5 star reviews" style="float: right; margin: 11px;" />A Canmore vacation rental</a> can be a successful and lucrative stream of passive income, with the right strategy in place. One of the keys to success is maintaining 5 star review status on your listings, providing your potential guests with confidence to book with you over your competitors.
Earning 5 star reviews on a continual basis requires effort. In order to stand out from your competition in the Canmore vacation rental world, consider these tips.
1. Provide a local guide
Your guests will likely arrive with some things in mind, but it doesn't hurt to provide them with lists of <a href="https://www.canmoreabhomes.com/blog/5-things-to-do-in-canmore/" target="_blank">things to do in Canmore</a>, the <a href="https://www.canmoreabhomes.com/blog/canmore-restaurants-to-try/" target="_blank">best restaurants in Canmore</a>, or where they can find essentials like a grocery store and pharmacy.
Set yourself up as a true host, making it easy for your guests to find the things they need to enjoy a pleasant stay. The more they enjoy their trip overall, the more positively they will associate with your vacation rental and leave a glowing review for your assistance.
2. Make your property photogenic
One of the best ways to market your property and lead your guests to feel excited about it is to make it photogenic. This generation of tourists want a place they can brag about a little on social media, so <a href="https://www.canmoreabhomes.com/blog/how-to-decorate-your-canmore-vacation-rental-in-2023/" target="_blank">decorating your Canmore vacation rental</a> to be something they want to show off online is essential. While you may be comfortable in a simple vacation rental, remember that <a href="https://www.canmoreabhomes.com/blog/how-a-photogenic-vacation-rental-can-be-more-profitable/" target="_blank">photogenic vacation rentals are often more profitable</a>.
3. Think of everything
Okay, we know it might be impossible to actually think of everything, but you want your guests to feel that you did. Pay attention to the details that might offer comfort or convenience to your guests, like:
Leaving a basket of travel toiletries that they may have forgotten, helping them avoid a trip to the store. This should include toothbrush and toothpaste, floss, shampoo and conditioner, a razor, and makeup removing wipes.
Fully stock your kitchen so the won't have to run back to the store when they find out there is an essential supply missing. This includes all the tools required, like a good quality pans and knives, as well as basic cooking ingredients like olive oil and seasoning.
Make sure there is plenty of extra bedding and pillows so your guests can make themselves at home.
Provide some water bottles, tea, and coffee so your guests do not have to immediately run to the store on arrival.
Since nearly all your guests will be exploring outdoors during their stay, provide complimentary supplies like sunscreen and a small first aid kit.
Leave a welcome basket with some local goodies, a gift card to a nearby coffee shop, and some branded items that are both useful to them and helpful for passive marketing.
Small touches like these will wow your guests and lead them to feel like you thought of everything, even if they didn't.
4. Make a great first impression
We've all heard and understood the importance of a great first impression. One powerful way to achieve this with your guests is to get in touch within minutes of them booking, and then checking in.
It might look like this: send an email shortly after they book their stay with you, communicating your excitement about their booking, offering some tips and ideas for planning their trip itinerary, and inquiring about any special requests you might be able to accommodate. Then, a few minutes after you see they have checked in you can reach out again. This time, welcome them to the property and make sure everything looks the way it should. This allows you to set yourself up as a hospitable and "on-top-of-it" host in case there are any issues that need to be resolved.
Ready to look for the right property to invest in and transform into a vacation rental? We can help you <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/" target="_blank">find homes for sale in Canmore</a> that will be ideal for a vacation property. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more. 2023-06-09T10:26:53-07:002023-06-09T10:47:04-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18347Trail Etiquette
<img src="https://assets.site-static.com/userfiles/2549/image/biking/2_biking.jpg" width="1150" height="547" alt="trio of bikers" style="display: block; margin-left: auto; margin-right: auto;" />
We all know there are rules on the roads but did you know there are rules on the trails too? Biking etiquette is important to ensure a safe and enjoyable experience for everyone on the trails. Whether you are a beginner or a seasoned pro, here are some key etiquette guidelines to help keep it fun for everyone:
1. Respect trail rules and regulations: Familiarize yourself with any posted rules and regulations specific to the trail you're riding. Follow them diligently to maintain the integrity of the trail and protect the environment.
2. Yield appropriately: Yielding the right of way is crucial for maintaining a smooth flow of traffic on the trail. Yield to uphill riders, hikers, and equestrians. Slow down and give them plenty of space when passing. It's like being on the road—unless you're a mountain goat with turbo boosters, let those struggling uphill have their moment of glory.
3. Announce your presence: Use clear, audible signals when approaching other trail users from behind, such as saying "On your left!" This alerts them to your presence and prevents surprises. Be courteous and patient and wait for the right moment to pass safely.
4. Stay on the trail: Stick to designated trails and avoid cutting switchbacks or creating new paths. Remember, the trail is your friend. Resist the temptation to create new paths or shortcuts, as they can harm the environment and disrupt the natural flow of the trail. Respect any closures or trail maintenance areas and follow detour signs if necessary.
5. Leave no trace: Be an eco-friendly biker. Carry out what you carry in and respect the trail and surrounding nature. If you see any trash on the trail, kindly pick it up. Just imagine yourself as a biking superhero, saving the world one piece of litter at a time.
6. Minimize trail impact: Ride through mud puddles (you know you want to!) rather than around them to prevent widening the trail. Be mindful of fragile vegetation and avoid skidding or creating unnecessary damage to the trail surface.
7. Be friendly and courteous: When you come across other bikers on the trail, a friendly nod or a quick "Howdy!" goes a long way. Remember, a smile is worth more than a thousand words, especially when you're panting up a steep climb. It helps foster a positive atmosphere and builds camaraderie among outdoor enthusiasts.
8. Control your speed: Ride at a safe speed that allows you to react to obstacles or unexpected situations. Be aware of blind corners and slow down when approaching intersections or areas with reduced visibility.
9. Stay in control: Maintain control of your bike at all times and be aware of your surroundings. Be prepared to yield or stop if necessary and avoid sudden maneuvers that may startle or endanger others. It's essential to ride within your skill level. Trying to conquer a trail that's way beyond your abilities might result in an unplanned meeting with the dirt. Of course if you do take a tumble, make sure to do it with style!
10. Educate yourself: Stay informed about trail conditions, closures, and any local guidelines or initiatives related to trail usage. Participate in trail maintenance efforts or volunteer programs to give back to the biking community
By following these biking etiquette guidelines, you can contribute to a great trail experience for yourself and for fellow riders.
<img src="https://assets.site-static.com/userfiles/2549/image/biking/mountain-biker.jpg" width="400" height="267" alt="mountain biker on trail" class="img_box_right" style="vertical-align: text-top;" />
It's all about spreading the positive vibes and creating a supportive community on the trails.
Enjoy your ride and respect the trails and each other!
2023-06-05T09:34:43-07:002023-06-05T10:21:54-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:181765 Things to Do in Canmore<img src="https://assets.site-static.com/userfiles/2549/image/Fun_in_Canmore.jpg" width="450" height="380" alt="Fun in Canmore" title="Fun in Canmore" style="float: right; margin: 11px;" />If you are looking for something fun to do in Canmore, it is unlikely that you will ever run out of options. With Banff National Park just minutes away, breathtaking scenery in every direction that draws tourists from around the globe, a great food scene, and access to just about every type of outdoor recreation, it's no wonder <a href="https://www.canmoreabhomes.com" target="_blank">Canmore is one of the best places to invest in vacation rentals in Canada</a>.
Whether you are looking for <a href="https://www.canmoreabhomes.com" target="_blank">vacation homes for sale in Canmore</a> or just want to plan your next weekend, check out these 5 things to do and <a href="https://www.canmoreabhomes.com/contact/" target="_blank">contact us</a> any time to learn more about investing in Canmore real estate.
Hiking
While a comprehensive list of the best hiking near Canmore is far beyond the scope of this post, we can't make a list of the best things to do in Canmore without mentioning the amazing hiking opportunities.
People travel from around the world to enjoy the trails and summits in Canmore and Banff. Some of the best places to hike nearby include:
East End of Rundle (called EEOR by the locals) is close to town and offers a challenging scramble to enjoy impressive views of the Bow Valley and Ha Ling Peak
Kanasakis Provincial Park, the foothills of the Rockies, features many trails to choose from depending on how far you want to hike and how challenging you would like the hike to be
The Three Sisters, for a serious challenge. The Little Sister in particular is best for advanced rock climbers, and the Big and Middle Sisters feature challenging scrambles as well
Highland Games
The very first Highland Games were held in the 11th century in Scotland, and were the idea of King Malcom III. The king's nickname? Canmore. After you learn about this historical tidbit, it should come as no surprise that Canmore, Alberta is home to its own lively and exciting Highland Games.
The original Highland Games were held to determine who were the fittest men in town, then bestowing on them the honor of becoming mail carriers. While the Canmore Highland Games no longer award the winners with postal service employment, there is still plenty of friendly competition alongside an abundance of kilts, bagpipe music, and great food. The event has been held in Canmore for over 30 years, taking place every September.
Golfing
Canmore is a beautiful place to play a round of golf, teeing off among breathtaking views of Three Sisters, Cascade Mountain, Pigeon Mountain, and Ha Ling Peak. Some of the favorite courses in town include <a href="https://stewartcreekgolf.com" target="_blank">Stewart Creek Golf Course and Country Club</a>, as well as <a href="https://silvertipresort.com" target="_blank">Silvertip Resort</a>.
Eating
Canmore may be a small mountain town, but it is not at all lacking in the restaurant department. You will find everything from casual family friendly spots to fine dining with memorable views to casual breweries where you can relax after a hike. This is one of the best places for foodies who like to enjoy their time outside.
Fishing
Canmore is one of the best places to fish in Canada, with numerous streams and rivers fed by the Canadian Rockies. Fishing regulations change by season, so don't forget to check with local guidelines before planning your fishing trip.
Some of the most popular places to fish in and near Canmore include:
Spray Lake
Bow River
Quarry Lake
Grotto Mountain
Lake Minnewanka
With so much to do, investing in a vacation home or income property in Canmore is an obvious choice. Ready to learn more about vacationing or investing in Canmore? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-05-29T12:48:38-07:002023-05-29T13:17:23-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18121Why Buying a Canmore Vacation Home in 2023 is Better Than Renting One<img src="https://assets.site-static.com/userfiles/2549/image/4_Reasons.jpg" width="491" height="382" alt="Buy instead of rent" title="Buy instead of rent" style="float: right; margin: 11px;" />Are you planning a vacation this summer to Canmore or Banff? If this is one of your favorite places to visit, like it is for many people around the world, you may want to consider buying a vacation home rather than renting one this year. Keep reading to find out why.
Canmore and Banff are some of the top places to vacation in the world, featuring breathtaking scenery that you have to see to believe. With access to untouched natural beauty just an hour from a major airport in Calgary, it's easy to access this vacation destination from anywhere. Many people find that Canmore and Banff offer an ideal blend of gorgeous hiking trails, lakes, and other outdoor recreation spots while offering excellent restaurants and luxury amenities.
Here are 4 reasons you may want to buy a vacation home instead of renting one.
1. You never have to search for a place to stay
If you have booked a vacation rental in Canmore or Banff before, you likely already know how challenging it can be to find the place you want. With a great deal of demand, you are in competition with tourists from around the world for the best vacation rentals.
Every time you want to visit the area, you need to book far in advance for the places you most want to stay. If you own your own vacation home, however, this is never going to be an issue. Whether you keep it exclusively for personal use or list it as a short term vacation rental, you can always know that your ideal place to stay is ready when you are.
2. Your vacation funds become an investment instead of an expense
When you budget for a vacation, one of the largest expenses is the accommodations. Imagine if the price you pay for your vacation home was an investment rather than a simple expense. Owning a vacation home means the money you spend for a great place to stay in Canmore or Banff is going toward an appreciating asset, building your net worth while allowing you to vacation in one of your favorite destinations.
3. It can become a retirement home in the future
Have you begun to consider where you would like to retire? Canmore is one of the <a href="https://www.canmoreabhomes.com/blog/retiring-in-canmore/" target="_blank">best places to retire in Canada</a> because it offers so many things to do while being close enough to Calgary to easily access medical services, an international airport, and any shopping you need to do.
When you own a vacation home in Canmore, you can begin investing in and renovating the property to be uniquely yours now, and know that it is ready to become your primary residence after retirement. This is a financially smart way to plan for retirement, buying the home you will retire in at today's market value and allowing it to build equity in the meantime.
4. Your vacation home can be leveraged for passive income
Buying a vacation home in Canmore is a significant investment. You might consider leveraging the property as a source of passive income by listing it as a short term rental. You can block out any dates you want to keep for personal use, and then allow the asset to pay for itself during the other dates. Many people find that the income from the vacation rental business will completely pay for the monthly expense of the home.
Ready to begin searching for vacation homes for sale in Canmore? We can help you find just what you are looking for. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to get started. 2023-05-24T08:57:00-07:002023-06-05T09:30:19-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:18090High Tech Home Upgrades to Save Money and Energy in 2023<img src="https://assets.site-static.com/userfiles/2549/image/Smart_Home.jpg" width="450" height="350" alt="Smart home" title="Smart Home" style="float: right; margin: 11px;" />Technology for the home can save you money while making your home more energy efficient, adding value in more ways than one. If you are looking for home improvements you can make that offer a dynamic return on investment, consider one of these high tech home upgrades.
Looking for <a href="https://www.canmoreabhomes.com/banff-ab-homes-for-sale/" target="_blank">homes for sale near Banff</a>? We can help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to learn more.
If you have already found a home you love, these smart home features might be a great addition to it.
Water Efficiency Tools
Living near such breathtaking natural beauty in Canmore and Banff, it is easy to remember the importance of conserving natural resources. By adding water efficiency tools to your home, you can more responsibly manage the water use in your home. Some of these options include:
Low flow showers
Tankless water heaters
Water recycling for irrigation
Smart faucets, toilets, and more to automatically shut off if a leak is detected
Wifi enabled sprinkler systems that adjust watering based on rainfall in the area
Appliances
Replacing appliances can be a major investment, so it may not feel like something that will save you money. However, over the time the presence of energy efficient appliances will save on utility bills while being a more responsible use of resources. If your home is already in need of a new appliance or two, opt for an energy efficient choice. Most appliances on the market today are energy efficient, and those small changes add up to make a big difference.
Smart Thermostat
Smart thermostats can be controlled from your personal devices via an app, which means you can adjust the indoor temperature at any time. The device will also learn your preferences over time to efficiently keep the climate comfortable inside.
If your home in Canmore or Banff is a vacation home or an income property, you can control the thermostat to turn on the air conditioning or crank up the heat shortly before you or your guests arrive. This allows you to keep the temperature comfortable without using any energy when no one is in the home.
Smart Lighting
Consider upgrading your light fixtures and window coverings to work with a smart lighting system. This way, you can control your lighting from your phone, checking to make sure that all lights were turned off when you left the house or after you have gone to bed to make sure you avoid unnecessary energy usage.
Smart window coverings can also save you money and energy. Set your smart blinds to close during the hottest part of the day to avoid letting the sun raise the temperature in your home and use more energy than necessary cooling it. The opposite strategy can be used to warm the home up during winter months.
Solar Panels
Depending on the location of your home and the sunlight you can access from the roof, adding solar panels may be a worthwhile investment. Talk to local solar companies to get a few free quotes to find out whether harnessing energy from the sun might be a great way to offset energy expenses for your Canmore home.
Ready to begin searching for a home to make your own in Canmore or Banff? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-05-18T14:12:30-07:002023-05-18T14:55:45-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:180495 Tips for a Smooth Move into Your Retirement Home<img src="https://assets.site-static.com/userfiles/2549/image/5_tips_for_a_smooth_Transition_into_your_new_home.jpg" width="450" height="350" alt="Moving tips" title="Moving tips" style="float: right; margin: 11px;" />When you take a look at the <a href="https://www.canmoreabhomes.com" target="_blank">homes for sale in Canmore or Banff</a> and the long list of things to do in the area, it will come as no surprise that it is a top destination for those looking to retire. With great restaurants, access to healthcare and a major city nearby, and natural beauty that draws tourists from around the globe, what's not to love?
Looking for a <a href="https://www.canmoreabhomes.com" target="_blank">house in Canmore</a> that will suit your retirement plans? We can help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time to get started.
After you decide where to move, there is still plenty of planning to be done. We have 5 tips to help you make a smooth transition into your new home for retirement.
1. Renovate before moving in
If possible, plan for a period of time between closing on your new home and moving in. This will allow you to complete any renovations or home improvements necessary before moving in, avoiding the stress of living in a work zone.
Even in a move-in ready home, this might include minor projects like:
Painting
Deep cleaning
Installing closet organizers
2. Declutter before you pack
A common frustration in the unpacking and settling in process is opening a box only to find it is filled with things you are ready to donate, sell, or dispose of. Avoid wasting your time, energy, and money on moving things you won't end up keeping by doing a serious declutter before packing up.
As you pack up your belongings or prepare for movers to come and pack them, ask yourself these questions:
Is this item still useful?
Will this fit in my new space?
Is this something I can store digitally by scanning it rather than keeping the hard copy?
Do I have multiple items that serve the same purpose?
Is there someone else in my family who might be ready to enjoy this item?
3. Set up services before move-in day
Make sure you new house is comfortable and ready to feel like home by making sure all your services are set up ahead of time. This includes transferring all utilities into your name, making sure the new home has internet and TV, and possibly scheduling additional services like housekeeping, lawn care, or security system setup.
4. Colour code your packing system
A colour coded packing system is a great way to keep things organized on moving day, no matter who is helping you. Label each box with the with a sign in the colour of the room you want it to end up in at the new home, rather than just listing its contents.
For example, let's say you assign the colour yellow to the primary bedroom. When you pack up boxes that you want to be set in that room, use a yellow label on the box. On move-in day, Place a yellow piece of paper on the door of the primary bedroom to avoid any confusion. This simple system will help you avoid the annoyance of moving into a house with boxes set all throughout.
5. Pack a weekend bag
No matter how organized your move, you are bound to take some time to settle in. May sure to pack all the necessities you will use for at least 2 to 3 days separately so they are easy to find as soon as you arrive.
Your weekend bag might include:
Clothing and toiletries for a few days
Towels, pillows, and bed linens
Medication and a first aid kit
Ready to begin the search for your <a href="https://www.canmoreabhomes.com" target="_blank">home in Canmore or Banff</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-05-13T20:05:44-07:002023-05-19T13:19:30-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:17981Market Update in CanmoreAs the weather warms up, the Canmore real estate market remains a hot topic of discussion. Despite the Bank of Canada's gradual increases in interest rates, the housing prices in Canmore have not gone down as we would have expected to see. Instead, they have either remained the same or risen in many cases. This delay in response to interest rate hikes has left buyers feeling apprehensive about the market, as they fear that they may be buying at the peak of the market. Meanwhile, sellers remain optimistic about the market's continued appreciation.
<img src="https://assets.site-static.com/userfiles/2549/image/10.jpg" width="300" height="252" class="img_box_left img_box_right" /><a href="https://assets.site-static.com/userfiles/2549/image/10.jpg"><br /></a>
Furthermore, in April, 38 new listings came on the market in Canmore (vs 96 in April 2022) bringing us to a total of 78 active listings on the market. The lack of inventory in Canmore's real estate market is another factor that contributes to its complexity. With demand far outstripping supply, buyers are finding it increasingly difficult to find properties at fair market value. Many are waiting for months to find a property that meets their needs, only to compete with multiple other buyers for a chance to purchase it. Despite this, backup offers are still worthwhile to put in, as many deals are falling through due to buyers not being able to qualify for financing.
As a realtor with years of experience in Canmore, I believe that the market cannot continue to grow indefinitely and that eventually, it will reach a peak. It is still unclear whether the market has reached this peak, and the million-dollar question remains unanswered. However, the best deals in the current market are hidden in properties that require a considerable renovation. While many buyers may not be interested in taking on such projects, these types of homes often sit on the market for an extended period of time, presenting an opportunity for savvy buyers to find equity upside.
Please reach out to me or a member from my team to learn about the market dynamics.2023-05-05T07:41:25-07:002023-05-12T07:11:08-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:17896How to Manage a Vacation Rental Remotely<img src="https://assets.site-static.com/userfiles/2549/image/Remote_Management.jpg" width="450" height="350" alt="Remote Management" title="Remote Management" style="float: right; margin: 11px;" />Canmore is an ideal market for a vacation rental property, with <a href="https://www.canmoreabhomes.com/blog/why-people-love-vacationing-in-canmore/" target="_blank">steady demand from tourists in all four seasons</a>. It comes as no surprise that Canmore is one of the best places to invest in a vacation rental in Canada, with Banff National Park attracting travelers from around the globe and access to an international airport just an hour away in Calgary.
If you are ready to begin the search for <a href="https://www.canmoreabhomes.com" target="_blank">vacation homes for sale in Canmore</a>, we can help. <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time. To develop a strategy for managing your vacation rental remotely, consider some of these tips.
Automate Check-In and Check-Out
One of the keys to running a vacation rental is <a href="https://www.canmoreabhomes.com/blog/must-have-smart-home-features-for-vacation-rentals/" target="_blank">leaning on smart home technology to make your process more efficient</a>. There are many ways you can outsource some of the day-to-day management tasks associated with a vacation rental to a smart home device.
Smart locks are one of the top ways to do just that. Streamline the check-in and check-out process by eliminating the need for keys. A smart lock provides a variety of benefits, including:
Increased security because you can "change the locks" between every guest, housekeeper, and contractor by changing the key code
Eliminate the possibility of lost keys, and the inconvenience and expense they cause
Make it easy to remotely provide access to anyone who needs to get into the property, like a handyman or housekeeper
Consider a Local Property Manager
While many things can be handled remotely, thanks to technology and smart home devices, you may want to consider hiring a local property management company to collect payment, address after hours concerns from guests, or provide a full service management. Consider the amount of time you are prepared to spend managing the property and ask for some quotes from local companies to weigh your options.
Invest in a Security System
Security systems are important for any vacation property, but particularly if you will not be in town and the rental may be left vacant from time to time. Invest in a high quality security system with video surveillance that can be accessed from your phone to provide peace of mind and evidence for a police report, if necessary.
Compile a List of Local Contractors
Just like any real estate investment, you should hope for the best but prepare for the worst. Damage from accidents, normal wear and tear, and typical maintenance will all be a part of your vacation rental experience at some point. To limit the stress of these moments, compile a list of reputable local contractors before an unexpected event occurs. Your future self will thank you when you aren't frantically reading plumbers' reviews in the middle of the night.
Keep Your Listing Updated
Remember that the vast majority of marketing for any vacation rental is done through online listings. Make sure to keep your listing updated, investing in high quality photos and making sure to note any changes or upgrades to the property. Providing as much accurate and detailed information as possible in your listing will help attract your ideal guests, and support the goal of satisfied customers who leave five star reviews, a key to vacation rental success.
Ready to learn more about <a href="https://www.canmoreabhomes.com" target="_blank">investing in a Canmore vacation rental</a>? <a href="https://www.canmoreabhomes.com/contact/" target="_blank">Contact us</a> any time.2023-04-27T12:09:27-07:002023-04-27T21:45:09-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:17862Top Trim Materials for Homeowners in 2023If you are working on upgrading the interior of your home one of the best ways to give it a boost is to use a nice trim like crown molding. There are so many options when it comes to using this tool and that can make it challenging to find what is the perfect fit for your home. Let's take a look at the best types of crown molding available so you can de ide what is best for your home.<img src="https://assets.site-static.com/userfiles/2549/image/Top_Trim_Materials_for_Homeowners_in_2023.jpg" width="400" height="600" alt="Top Trim Materials for Homeowners in 2023" title="Top Trim Materials for Homeowners in 2023" style="float: right; margin: 11px;" />
Top Trim Materials in 2023
There is a wide range of use for crown molding. It can be used for aesthetics and to improve your home decor. Crown molding was initially created to cover the joints of your doors and windows and meet up with the drywall where the flooring connects. This is why there are several different types of crown molding.
Types of Moldings
Floor Molding
Floor molding helps to form the foundation of your room. it continues the wall to the floor for you. You can combine this molding with baseboard caps to add decorative elements and improve the overall aesthetic.
Door & Window Casings
When you use molding for doors and windows it provides and pediment or header. This can help cover the gap between the drywall and window frame effectively and eliminates the eyesore.
Ceiling & Wall Moldings
When you use a corner guard you can protect the edges of a wall. In a kitchen, you can use backsplash moldings to protect from splashes and water damage. This is specific and is made from a countertop or tile material. If you're looking to top off your room then using ceiling crown molding will help to cover any gap where the wall meets the ceiling. This molding is usually angled or curved so that the edges can meet the wall and ceiling without leaving any space behind them.
Decorative Moldings
Decorative molding is used to specifically create the right design for your room. These come in rosettes or blogs that contain carved florals. These are used as door casings, crowns, or even fireplace surroundings.
Things To Consider Before Buying Crown Molding
Material & Style
You need to know what type of crown molding you are looking to use before you can dive into the various styles. There are very simple moldings and then extremely ornate and decorative moldings.
Tools
After you decide what type of molding you are wanting to install then you need to make sure you have the appropriate tools. The tools will differ depending on what kind of crown molding you are looking to install. Generally, you will need a nail gun, finish nails, and a miter saw.
Room Size
Consider the size of your room and what you are using style-wise before you purchase your molding. You want to plan for extra and make sure you have enough to cover the gaps where the wall meets your floor or ceilings. There can sometimes be a slight difference so make sure you measure multiple times.
Product
Before you finalize your purchase check reviews from other users to make sure you purchase a material that has great quality.
In Conclusion
Adding any kind of trim can truly upgrade the design of your room and help increase the aesthetics of your remodel project. Consider these important things above as you decide what crown molding is best for your home.
For those upgrading their <a href="https://www.canmoreabhomes.com/">Canmore homes for vacation rentals</a> or for your primary residence, these tips can help.
2023-04-24T11:30:40-07:002023-04-24T11:37:07-07:00Devin Stephenstag:canmoreabhomes.com,2012-09-20:17810Why it is More Important than Ever to be Aware of Contract ContingenciesIf you have previously purchased or sold a piece of real estate you more than likely know of contract contingencies. A contingency is a specific requirement that needs to be met in order for the contract to be official and the sale of the property to be finalized. Most often buyers or sellers include contingencies for their own interest and protection in the transaction.<img src="https://assets.site-static.com/userfiles/2549/image/Why_it_is_More_Important_than_Ever_to_be_Aware_of_Contract_Contingencies.jpg" width="444" height="296" alt="Why it is More Important than Ever to be Aware of Contract Contingencies" title="Why it is More Important than Ever to be Aware of Contract Contingencies" style="float: right; margin: 11px;" />
Contingencies are added in or included in standard real estate contracts to help ensure that certain conditions are met before the final paperwork is signed. Since the beginning of the pandemic, it was not uncommon for many buyers to waive typical protection contingencies and sellers to include new ones not often heard of.
What to be aware of if You are a Buyer
Requesting a contingency as a buyer helps to give you an escape route from your offer on the property. Every contingency creates an additional hoop that needs to be jumped through or an item that needs to be met before the actual official sale can close. Most often on a buyer’s part contingencies include appraisals and inspections.
With the high competition amongst buyers, it was not uncommon to see many drop the standard traditional contingency for an inspection which holds a home seller to making certain repairs or being willing to negotiate a different price over any significant issues that are found after a professional inspection is conducted on the property. Those who chose the strategy of waiving this contingency do so in hopes of telling the seller they will not be expecting them to make good on any repair issues the home has and help the closing process go much quicker.
One thing to be aware of when you choose to waive an inspection contingency in hopes of making your offer more competitive with several offers on the table is that this does not mean you do not get to have an inspection at all. You can waive the contingency and still pay for an inspection, but you will not have the ability to back out on your offer for any repairs other than ones that make the home completely unlivable.
What to be aware of as a Seller
Right now, during a hot seller’s market, a homeowner has much more leverage to include contingencies in a real estate contract. Adding in contingencies can allow for more time to close on your home if you are struggling to <a href="https://www.canmoreabhomes.com/buyers/property-search/">find your next home purchase</a>. One thing to be aware of though is even with a higher amount of leverage adding too many contingencies to the contract could cause buyers to walk away. Even when you have several ready to make an offer.
The bottom line when it comes to real estate contracts for both buyers and sellers is to make sure that you are going over them carefully. You want to make sure that you are not requesting too many contingencies that would make the other party back out of the deal. You also want to make sure that you pay plenty of attention to all of the contingencies in the contract making sure you know exactly what is being requested. A trusted real estate agent can help to walk you through every contract and best advise you on whether to accept or counteroffer. Contact us today if you have more questions on contingencies and the details when <a href="https://www.canmoreabhomes.com/homes-for-sale-in-canmore/">buying or selling in the Canmore real estate market</a>. 2023-04-17T12:32:10-07:002023-04-17T12:40:12-07:00Devin Stephens