Buying a Home

What are you looking for? It’s a simple-yet-complicated question. Buying real estate in Whistler is a daunting process for those new to the community, and while you might know what kind of property you’re searching for, you may not know the best way to get the right one. Rob Palm Personal Real Estate Corporation uses two decades of Whistler real estate experience to streamline the buying process, take the pressure out of the purchase, and help you make your best move. The sooner you’re in your Whistler home, the sooner you can get into the Whistler outdoors!

WHERE YOU LIVE IS HOW YOU LIVE.

From lively urban centres to expansive rural estates, the lifestyle you aspire to is intrinsically wrapped up in the place you choose to be. In Whistler, this translates to an active, passionate lifestyle. Here the seasons evolve with your moods. From the famously generous snowfalls of winter to the perfectly balanced temperatures of summer—and everything in between—Whistler’s seasons are energetic. Charged with the passion of the mountains and the eclectic people they attract. Having a place to call your own in this valley is a surefire way to inject good energy into your life, whether you prefer to watch it from your living room, or submerse yourself in all things wilderness. To be close to Whistler is to bring Whistler close to the heart of who you are.

The Whistler real estate market holds opportunity for all kinds of people looking to be a part of this great community. From young families carving out a life in paradise, to those seeking a luxury getaway, to the prospective business owner searching for the perfect location, the possibilities are vast and diverse.

• 13,000+/- residential properties
• 750 commercial properties
• 20 distinct neighbourhoods
• $13++ billion: Assessed value of all properties in Whistler in 2016
• 1305: Highest number of annual sales in Whistler in past 10 years (2002)
• 458: Lowest number of annual sales in Whistler in past 10 years (2010)
• $17,500,000: Largest sale price in Whistler history (2008)
• $1,700,591: Average sale price of chalet sold in Whistler over the past 10 years
• $611,579: Average sale price of condominiums and townhomes sold in Whistler over the past 10 years

REAL ESTATE IN WHISTLER

The Whistler Real Estate Market is full of opportunities for everyone. We have a wide range of property types that allow us to cater to many different needs and wants. There are just over 15,000 residential and approximately 750 commercial properties within the municipal boundaries in 20 distinct neighbourhoods.
For searching purposes, properties can be found under the following headings:

• Condominiums (Condos)
• Townhomes
• Chalet
• Vacant Lot
• Shared Ownership
• Commercial

Properties zoned for residential use are meant to be used for residential purposes and are not to be rented on a short term basis. They may be rented on a long-term basis or enjoyed full or part time by the owner and guests.

Tourist Accommodation
Properties with this zoning allow rentals on a short-term basis, either through a professional rental management firm or through the owner themselves. They also allow owner use, which adds a lifestyle component to the investment. Within the tourist accommodation areas there are two distinct property types.

1. Phase One Units - Also known as “unrestricted units.” These properties allow the owner to use the property as much and as often as they like. When the owner is not using the property, short-term (nightly) rental is permitted. There are many options for rental management throughout Whistler and it is important to know which manager to use for the property in question.
   
   
2. Phase Two Units - Also known as “restricted units” these are condo apartments within an ongoing hotel operation. The owners’ number of days of personal usage is restricted to 28 days in the summer season and 28 days in the winter season. The owners’ days must be booked in advance and through the operator within their management structure. Benefits include revenue, potential tax shelter and various hotel services and facilities. There are many different management structures to understand within each of these units.
   
   

Condominiums and Townhomes
Whistler condos and townhomes account for approximately 60% of local real estate. Because they are managed through strata, each owner shares in the cost of the maintenance and upkeep of the common areas of the buildings and land associated with the properties, while enjoying all the benefits of full ownership. Along with location, the specific zoning of each Whistler condo or townhome is key to understanding the value of the property.

Chalets
Whistler’s history is rich, and the homes built here throughout the years reflect a dynamic range of builders, architects and owners that have been a part of the Whistler lifestyle. Whistler homes come in many different sizes and layouts for many different lifestyles and budgets. Location, view, size and age all determine how much you’ll pay for your new slice of paradise, but the range is wide. Values are based on location, land/home size and age of building, quality of construction and interior and exterior systems. Careful consideration to each factor will determine the value of each chalet.

Vacant Land
Vacant land is available in Whistler but is becoming more scarce each year. Municipal and provincial regulations—as well as the natural environment—limit development in the valley and it won’t be long before true vacant land in no longer available. Creating the Whistler chalet of your dreams should be exciting, and you’ll be in good hands with our talented group of local architects, general contractors and professionals. Things to keep in mind include: size of building allowed on a specific plot, the grade of the property, zoning, design guidelines and access to amenities and recreation. Generally speaking, you can build up to 35% of your lot size up to a maximum of 5000 square feet. Estate Lots allow larger homes however these are rare and can only be found in a few select neighbourhoods.

Quarter Share
These units allow each owner to use 1 week per month and can have up to four owners on title. If you don’t use your unit for your allocated week it is rented out through the contracted property management service. This can be an affordable way to own larger unit in Whistler for a much lesser price.

Commercial
Commercial Property in Whistler is a very select and unique proposition. Like anywhere there are office spaces, industrial & light industrial as well as storefront, restaurant and warehouse spaces throughout Whistler. Whistler Village is abundant with storefronts, restaurant and office spaces and the location of each is integral to value and lease rates. There are various smaller commercial nodes throughout the municipality that house smaller commercial centres. Some examples of each are Whistler Creek, Nesters, Upper Village at Blackcomb and Rainbow. Function Junction is a mixture of industrial buildings and office space, funky shops and cafes, and a craft brewery. There are many commercial opportunities in Whistler and one should understand the implications of the zoning for each separate parcel of land in Whistler to fully appreciate its potential.

PURCHASE

1. Legal Fees and Disbursements
    These fees vary by legal firm or notary office as well as property type and purchaser. Each transaction is very different but you should expect to pay approximately $700 to $1,800. We work with a number of great conveyancers and will gladly recommend one.
   
   
2. Property Transfer Tax
   This Provincial tax applies on all transfers of real estate and is payable on the completion date. The charge to transfer the title is 1% on the first $200,000 of the purchase price, 2% on the purchase price that exceeds $200,000 but does not exceed $2,000,000 and 3% on the purchase price that exceeds $2,000,000.
   
   
3. Goods and Services Tax (GST)
   GST is a 5% tax which applies on the purchase of new construction and on the resale of accommodations which have been rented for short-term/nightly rentals. There are ways to defer the payment of GST by becoming a GST registrant and we recommend speaking to a lawyer and/or an accountant familiar with these issues for further advice.
   
   
4. Insurance
   When financing a property, one will have to arrange insurance on a single-family home. A condominium or townhouse has insurance on the building arranged through the strata corporation but it is recommended that The Buyer purchases contents and third party liability insurance over and above the building policy. We can recommend brokers who are familiar with Whistler properties.
   
   
5. Tourism Whistler Fees
   This fee is payable quarterly to Tourism Whistler, the marketing arm of our resort. It is calculated based on the number of bed units within and the use of the property. For more information regarding these fees and how they are calculated please contact Tourism Whistler at 604-932-3928.
   
   
6. Strata Fees