# buying a condo in Whistler;good idea or dumb idea?



## ibknotts (Jan 15, 2013)

Buying a condo in Whistler as an investment.
*
My wife and I are thinking about “semi-retirement” in Canada (she is Canadian and we currently live in Europe).* We have half a plan to sell up (already sale agreed) and relocate to Whistler this year, maybe purchase 1 or 2 small condo’s to rent out on a daily/weekend/week basis, and live ourselves either in a Whistler residential area (just a small place of our own, maybe look at monthly/yearly rental after a few years) or close by (maybe even as far as Vancouver, but it looks too expensive).* We intend looking after the condos ourselves as much as possible, so cut out expenses as much as we can.* I have read quite a lot of reviews, and it seems the general opinion is “only look at this as an investment in lifestyle, or quality of life, financially it does not really make any sense whatsoever”.* So I think maybe breaking even would be the goal, and a few dollars extra to spend on beer and pizza would be a bonus.* Has anyone advice to offer?* Are we being unrealistic?* Maybe we should look at some other areas - Big White, even Mount Washington?* Quality of life is important for us, health and fitness is number one, and not having to be too worried about having a few dollars left in your pocket at the end of the year.* I am sure quite a few people have thought about this, some even took the plunge - I would be keen to hear about your experience?* Has the Whistler boat sailed a few years ago do you think, or maybe it has “done a Titanic”!
*


----------



## Scatterling (Apr 25, 2010)

ibknotts said:


> Buying a condo in Whistler as an investment.
> *
> My wife and I are thinking about “semi-retirement” in Canada (she is Canadian and we currently live in Europe).* We have half a plan to sell up (already sale agreed) and relocate to Whistler this year, maybe purchase 1 or 2 small condo’s to rent out on a daily/weekend/week basis, and live ourselves either in a Whistler residential area (just a small place of our own, maybe look at monthly/yearly rental after a few years) or close by (maybe even as far as Vancouver, but it looks too expensive).* We intend looking after the condos ourselves as much as possible, so cut out expenses as much as we can.* I have read quite a lot of reviews, and it seems the general opinion is “only look at this as an investment in lifestyle, or quality of life, financially it does not really make any sense whatsoever”.* So I think maybe breaking even would be the goal, and a few dollars extra to spend on beer and pizza would be a bonus.* Has anyone advice to offer?* Are we being unrealistic?* Maybe we should look at some other areas - Big White, even Mount Washington?* Quality of life is important for us, health and fitness is number one, and not having to be too worried about having a few dollars left in your pocket at the end of the year.* I am sure quite a few people have thought about this, some even took the plunge - I would be keen to hear about your experience?* Has the Whistler boat sailed a few years ago do you think, or maybe it has “done a Titanic”!
> *


For quality of life, I don't think you can beat Whistler. I'd live there in a heartbeat, it's a fantastic place for fitness and outdoor activities. Big White is beautiful too. Quite different & the surrounding area generally has better weather. 

I'm sorry, I don't really know anything about whether or not it would make sense financially, but I have heard that prices reached their peak in the years leading up to the Olympics and are now on the decline? I could be totally wrong about this - I'd suggest you do some research to see what the trend has been over the last few years, and maybe do a reccie & have a real estate agent show you around. Whistler may be an easier market than Big White for rentals. I don't think Whistler, or Big White for that matter has done a Titanic though , but the days of flipping property and making lots of $$$ may be gone

That said, since your goal is to break even, I think it would be great. Others may have a different view. Don't know what your place in Europe is like, but in general prices are much higher than in Canada so you may find you can get like a lot for your Euro compared to there. 

Best of luck with it!


----------



## Liam(at)Large (Sep 2, 2012)

We own in Big White and don't like Whistler (did you know it's the STD capital of Canada?). Prices went up, over already inflated Whistler prices, for the Olympics, and are still up, not going up any more at the moment, but peaked and flatline. The pro to Whistler as a property owner is it offers year round rentals. Big White is currently seasonal to the ski season only, with the occasional interest in off season rental for hiking and mountain biking (but it's not worth it to rent out). Big White is developing towards year round, but it's not there yet! The nice thing about Big White, is you can own rental units in BW and live 40minutes away in Kelowna, which is beautiful, has fantastic weather (mild winters, almost no snow) and is big enough but not too big (if you know what I mean!), from there you are nestled right in the Okanagan, vineyards, golf, etc... And it's only just up the hill to ski or hike or manage your rental units.


----------



## ibknotts (Jan 15, 2013)

Scatterling said:


> For quality of life, I don't think you can beat Whistler. I'd live there in a heartbeat, it's a fantastic place for fitness and outdoor activities. Big White is beautiful too. Quite different & the surrounding area generally has better weather.
> 
> I'm sorry, I don't really know anything about whether or not it would make sense financially, but I have heard that prices reached their peak in the years leading up to the Olympics and are now on the decline? I could be totally wrong about this - I'd suggest you do some research to see what the trend has been over the last few years, and maybe do a reccie & have a real estate agent show you around. Whistler may be an easier market than Big White for rentals. I don't think Whistler, or Big White for that matter has done a Titanic though , but the days of flipping property and making lots of $$$ may be gone
> 
> ...


Thanks Scatterling.* I sort of get the feeling you are right.* Whistler has a huge amount going for it from what I read, but maybe it has one or two “downsides” - I don’t know.* We plan to visit around July and check it out, talk to some Real Estate people.* Appreciate you coming back to me on this.
*


----------



## ibknotts (Jan 15, 2013)

Thanks Scatterling.  I sort of get the feeling you are right.  Whistler has a huge amount going for it from what I read, but maybe it has one or two “downsides” - I don’t know.  We plan to visit around July and check it out, talk to some Real Estate people.  Appreciate you coming back to me on this.


----------



## ibknotts (Jan 15, 2013)

Liam(at)Large said:


> We own in Big White and don't like Whistler (did you know it's the STD capital of Canada?). Prices went up, over already inflated Whistler prices, for the Olympics, and are still up, not going up any more at the moment, but peaked and flatline. The pro to Whistler as a property owner is it offers year round rentals. Big White is currently seasonal to the ski season only, with the occasional interest in off season rental for hiking and mountain biking (but it's not worth it to rent out). Big White is developing towards year round, but it's not there yet! The nice thing about Big White, is you can own rental units in BW and live 40minutes away in Kelowna, which is beautiful, has fantastic weather (mild winters, almost no snow) and is big enough but not too big (if you know what I mean!), from there you are nestled right in the Okanagan, vineyards, golf, etc... And it's only just up the hill to ski or hike or manage your rental units.


Thanks Liamatlarge (great title by the way!).  You hit it spot on to my thinking.  Whistler seems to have a lot, and the summer/winter rentals are attractive financially, but maybe there is just too much “control”.  I really no nothing about it, so if anyone is reading this please don’t bite my head off, but somehow when I researched Whistler I got lost in all the different zones; different rule; high costs; etc.  Everyone seems to say it is a superb place to live, but you pay, pay and then pay some more.
 
Laim what you have seems a good compromise (again, just from a small bit of research).  Big White seems to have good winter season, potential of a decent return on condo investment, maybe even the potential to grow into a winter/summer place. Kelowna sounds a fantastic place to live; from what I read it has it all.  Being European (you could say “soft” European, but -30 degrees is tough on an Irishman not used to it J) the whole idea of the milder climate is appealing.  And when you mentioned wine district, you had me hooked.  Question; if you rented out your place in winter, do you think you could cover your costs for the year? We are over in July to look around, talk to some people.  The head thinks Whistler; Big While/Kelowna or even Victoria (whole different story). Let’s see what the heart says when we are over and experience the places first hand.  Appreciate your time and advice.


----------



## WestCoastCanadianGirl (Mar 17, 2012)

I'd love to own a couple of condos in Whister... great location, easily driveable to Vancouver, year round activity.

However, the only thing I'd worry about is the vacancy rate and the cost of living. It's expensive to live and rent in Whistler (often times lots of people sharing a flat because one can't afford rent on one's own).... you're best advised to go and have a look for yourself and ask around.


----------



## ibknotts (Jan 15, 2013)

WestCoastCanadianGirl said:


> I'd love to own a couple of condos in Whister... great location, easily driveable to Vancouver, year round activity.
> 
> However, the only thing I'd worry about is the vacancy rate and the cost of living. It's expensive to live and rent in Whistler (often times lots of people sharing a flat because one can't afford rent on one's own).... you're best advised to go and have a look for yourself and ask around.


sounds like a good idea. we will have a look in july. cheers


----------



## Scatterling (Apr 25, 2010)

ibknotts said:


> Thanks Liamatlarge (great title by the way!).* You hit it spot on to my thinking.* Whistler seems to have a lot, and the summer/winter rentals are attractive financially, but maybe there is just too much “control”.* I really no nothing about it, so if anyone is reading this please don’t bite my head off, but somehow when I researched Whistler I got lost in all the different zones; different rule; high costs; etc.* Everyone seems to say it is a superb place to live, but you pay, pay and then pay some more.
> *
> Laim what you have seems a good compromise (again, just from a small bit of research).* Big White seems to have good winter season, potential of a decent return on condo investment, maybe even the potential to grow into a winter/summer place. Kelowna sounds a fantastic place to live; from what I read it has it all.* Being European (you could say “soft” European, but -*30 degrees is tough *on an Irishman not used to it J) the whole idea of the milder climate is appealing.* And when you mentioned wine district, you had me hooked.* Question; if you rented out your place in winter, do you think you could cover your costs for the year? We are over in July to look around, talk to some people. *The head thinks Whistler; Big While/Kelowna or even Victoria (whole different story). Let’s see what the heart says when we are over and experience the places first hand.* Appreciate your time and advice.
> *


I has been quite awhile since I lived in Kelowna, so maybe my memory has dimmed, but I think that -30 would be very unusual. I don't remember it getting near that cold. Could be wrong - maybe Liam will jump in to confirm or deny

Also, if you are going to be here, you might want to consider Panorama & area. Very beautiful, and the last time I was there (4 years ago) it was much less commercialized than Whistler. That could have changed, of course. Downside is that it can get very cold


----------



## Scatterling (Apr 25, 2010)

Sorry, should clarify that Panorama is the name of the ski resort. It's located in the Kootenays, about 1 1/2 or 2 hours south west of Banff, and about 3 hours from Calgary.


----------



## Liam(at)Large (Sep 2, 2012)

Our condo in Big White (2 bed + den, ski in/ski out) doesn't cost us a thing a year. Our costs are completely covered by rental income, and that's using the unit 2-3 weeks a season.

Kelowna winter temperatures barely drop below 0, and seem to hang around above 10 degrees many days, even in Jan/Feb. There is very little snow in the city itself.


----------



## ibknotts (Jan 15, 2013)

Liam(at)Large said:


> Our condo in Big White (2 bed + den, ski in/ski out) doesn't cost us a thing a year. Our costs are completely covered by rental income, and that's using the unit 2-3 weeks a season.
> 
> Kelowna winter temperatures barely drop below 0, and seem to hang around above 10 degrees many days, even in Jan/Feb. There is very little snow in the city itself.


Nice one. Following a bit more google bashing it seems that Big White and a place in Kelowna seems a good starting plan for our look and see visit, after that Whistler and then see. Thanks to everyone for the advice. I like this form so I will hang around. Cheers.


----------



## Scatterling (Apr 25, 2010)

ibknotts said:


> Nice one. Following a bit more google bashing it seems that Big White and a place in Kelowna seems a good starting plan for our look and see visit, after that Whistler and then see. Thanks to everyone for the advice. I like this form so I will hang around. Cheers.


Good luck!


----------



## Brockthebadger (May 11, 2012)

Check out Sun Peaks resort too. Just north of Kamloops it is the third most popular ski hill in Canada.


----------



## WestCoastCanadianGirl (Mar 17, 2012)

The 'loops and even Kelowna are good places too! 

Kelowna is close to BC's wine region and is nice and sunny in the summer time... in addition to that (and the amazing Okanagan fruit season in the summer) it's less than a half day's drive from Vancouver, and WestJet serves Kelowna, so it's not nearly as remote from the Big City as it was 30-40 years ago.


----------



## ibknotts (Jan 15, 2013)

WestCoastCanadianGirl said:


> The 'loops and even Kelowna are good places too!
> 
> Kelowna is close to BC's wine region and is nice and sunny in the summer time... in addition to that (and the amazing Okanagan fruit season in the summer) it's less than a half day's drive from Vancouver, and WestJet serves Kelowna, so it's not nearly as remote from the Big City as it was 30-40 years ago.


Thanks to everyone for the advice. We are planning out look see trip for June and July. Appreciate the replies, if all Canadians are as friendly then we made a good choice to go.


----------



## claudiapvitale (Nov 13, 2013)

If you are thinking about 'semi retirement' and to lead a quality life then Whistler is the best option.I don't think its that much unrealistic.I am living in whistler for the past 4 years.But i think whistler condo prices went up in the past few years.Mac suites is a reliable developer if you are looking for buying condo.


----------



## KateVillaman (Sep 2, 2014)

Condo can be an investment so I don't think its a dumb idea.


----------

