The View from Your G.I.C
WWW.OAKBAYCONDOS.COM THE VIEW FROM YOUR G.I.C. Own an exquisitely furnished 5-star waterfront condo & earn monthly revenue.
Invest in a vacation condo at the new Oak Bay Beach Hotel in Victoria BC and receive a contracted rate of return that exceeds the return of your G.I.C.’s. Enjoy months of Victoria sunshine, the ocean steps from your door, onsite spa and dining options and 5-star amenities that you won’t believe. No G.I.C. can give you that!
For a limited time, we’re offering to buy back your suite after 5 years at
VICTORIA, BRITISH COLUMBIA 5% over your original purchase price if you are not completely satisfied. Condos from $379,000. Available Now!
This advertisement is not an offer to sell real estate which can only be done by way of a Disclosure Statement. The Disclosure Statement for the Vacation CALL BRAD NEUFELD Homes at the Oak Bay Beach Hotel can be obtained from the Developer at 1111 Wharf Street, Victoria, B.C. DIRECTOR OF SALES 1.800.668.7758 contents
4 GETTING WARMER It’s still a buyer’s market for rec RECREATION & INVESTMENT properties, but with increased inventory and lower PROPERTIES prices, it won’t last long, say experts. also in this issue: is published by the Calgary HOW TO: Herald Special Projects 7 BUY LOW, SELL HIGH With great deals to be Department 4 Finance your rec property 8 found, a Kimberley, B.C. realtor says rec property real SPECIAL PROJECTS MANAGER: 4 estate is ‘better than the stock market.’ Insure your home 9 Barb Livingstone, 403-235-7339; 4 Secure the premises 10 [email protected] 14 COOL IDEAS Summer is all about enjoying the out- 4 Determine the type of property CO-ORDINATOR: Jennifer Worley doors at your rec property. And with these cool ideas, that’s right your you 12 that shouldn’t be a problem. COVER PHOTO: Courtesy Sunrise 4 Keep your property shipshape 15 Ridge Waterfront Resort 16 ISLAND TIME A vacation home on B.C.’s islands is a 4 Rent your property when TO ADVERTISE: Call your refreshing change of pace for rec property buyers not in use 15 advertising representative or Lori looking to escape the rat race. Grahl at 403-235-8665
Advertising Feature Oak Bay Beach Hotel – luxury living your way
he Oak Bay Beach Hotel has been For those who want a life of luxury year- part of Victoria’s waterfront since round, Oak Bay Beach Hotel also offers T1928. When the hotel reopens this residential properties. These exclusive fall, it will do so as both Victoria’s first true offerings reside on the fourth floor of the five-star hotel and first luxury boutique hotel as well as in the residential section resort offering private residences and of the hotel’s penthouse floor. hotel investment condos. Homes range from 900-square-foot lux- Buying a recreation property can be a ury suites to 2,350-square-foot lofted two- bit of a juggling act. Invest too heavily in bedroom-and-den penthouses. Residences rental income and you have a property you start at $995,000. can never use. Don’t rent at all, and you Whether buyers are looking for a perma- have a property that sits empty 46 weeks nent residence or a recreation/investment a year. With its unique hotel investment- property, they will find a lot to enjoy at condos, Oak Bay Beach Hotel has found a Oak Bay Beach Hotel. The hotel features perfect middle ground between the two. an English-style pub, dinner theatre, fine “We designed this property really to suit dining and a quaint café. Guests can also the client who wants to own a property in take advantage of the Victoria Golf Club. Victoria and be able to make money at it, The hotel’s marina also provides guests but still be able to use it,” says director of to use the property for up to four months homeowner pays a utility and amenities with an array of aquatic adventures, sales Brad Neufeld. of the year while still gaining a maximum fee, the hotel also covers all of the expens- including kayaking, fishing, whale watching At Oak Bay Beach Hotel, the buyer owns amount of revenue. es of the unit. This includes furniture, and tours of the Gulf Islands. The hotel’s the property outright and leases it back “We’re an hour flight away. You come condo fees, utilities, property taxes and spa facility offers a seaside pool, and a to the hotel. The hotel becomes the ten- and check in and the revenue stops for a maintenance. series of hot mineral pools, as well as a ant and signs a contract guaranteeing a couple of days or a week or whatever you Investment opportunities available spa treatment centre, gym, sauna, steam set amount of revenue whether or not the stay for. Then, you check out and the rev- include suites with studio, studio and kitch- room and fitness classes. suite is ever rented. Ninety per cent of the enue starts right up again the next day,” en and one-bedroom configurations. Floor For more information, visit guaranteed revenue comes from April to says Neufeld. plans range from 450 to 750 square feet, www.oakbaycondos.com, or call toll free at October, making it possible for the owner Other than during their stay, when the and suites are available from $379,000. 1-800-668-7758.
The heat is on Low interest rates, attractive prices and a great selection make the timing right for buying recreation property
By gerald vander pyl increasing sales and are, in fact, recording There are signs people increasing sales, it won’t take too long for uring the height of the recreation prices to start creeping up again.” property market five years ago, prices are getting back in the He says current low interest rates are also Dwere climbing 20 per cent a year in a factor for people who may finance part of many popular areas, and people were buying recreation property a recreation property. When you combine sight unseen so as not to miss out on the best all the positives, it really makes sense to buy properties. market, realizing now is a now rather than wait too long and miss out. Compare that with 2012, when buyers “The interest rates are good, there’s lots have a large inventory of properties to choose great time to buy. (of properties) to choose from, the prices are from, and at prices that have corrected in attractive and the forecast is those prices will many areas of Western Canada. “So they had better get going on creating start to increase,” says Shaw. Already, there are signs that people are those memories.” “I think it would be a little while before getting back in the recreation property Hawker says baby boomers are also you would miss the boat, but the opportuni- market, realizing now is a great time to buy, re-entering the market, to have a vacation ties are here now,” says Shaw. say realtors. home where family will want to gather during Daniel Zurgilgen, owner of Maxwell Brad Hawker, broker/owner of Royal the holidays. Realty Invermere, says the region lost a lot of LePage Rocky Mountain Realty in Canmore, He says when you think about it; is it more recreation property buyers to warm-weather says the uncertain economy had a lot of likely your children and grandchildren will regions such as Phoenix, but a new crop of people who wanted to purchase recreation want to visit you for Christmas at a house in the young professionals with families are now property sitting on the sidelines. city, or if you have a second home in Canmore? looking to buy in the Windermere Valley. “What we’ve seen for about four years or “So there is that pent-up demand, and we’ll “The (May) long weekend showed numbers so is demand was diminished because of fear. see more and more of those people who have like we haven’t seen for the last three or fours But people are now seeing that their financial been looking for three, four or five years mak- years,” says Zurgilgen. “We had more requests position is as good or better than it’s been ing that purchase decision.” for showings and more activity than we’ve (for years), he says. Rob Shaw, president of the Okanagan had for a long, long time. “The last six months in Canmore have Mainline Real Estate Board and a Vernon “People are coming and thinking now is seen (the market) pick up in activity, and the realtor, says the region saw increased activity the time to buy.” last four months that has really translated in April and May. Shaw, the chief economist He says like many areas, the valley has into sales. for the British Columbia Real Estate Associa- seen a rise in inventory, and a drop in prices, “It is still a buyer’s market, but our inventory tion, recently upped the forecast for growth making it much easier for people to find the has come down considerably from the peak.” in the B.C. interior for 2012. perfect property, especially compared with Hawker says many people who were “The inventory of properties for sale the height of the market. sitting on the sidelines realized they were provides a really good choice for Albertans “In 2007, if you wanted to buy a house in missing out on the main reason why they looking for a place in the sun, or even in the Invermere I could have showed you maybe wanted to buy a recreation property — to snow (at a ski hill), says Shaw. three homes, and that was it. Now, I could have a place to enjoy as a family before their “There’s a lot to choose from. We haven’t show you 25 homes,” says Zurgilgen. children start to go off to college or move seen a market meltdown in terms of prices. “The prices have come down, and there is away from home. We haven’t had a bubble that burst. But the also a lot more on the market.” “They’ve seen prices stabilizing and not last few years, there has been downward pres- going down anymore, and seen their window sure on prices, and it would appear that it has — Tourism British Columbia of opportunity for why they were thinking of probably bottomed out. OPPOSITE: Fishing at Vaseux Lake Provincial purchasing, starting to close. “And so when we start to see a forecast for Park in the Okanagan Valley.
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CX` && A dvertising F ea ture ‘Better than the stock market’ With rec property prices falling in some areas, there are deals to be found
By gerald vander pyl A condominium unit in a project near townhouse with two bedrooms plus den, 2.5 in Phoenix was up 25 percent from a year ith the relatively quiet market Lake Windermere can be purchased starting baths, totalling 1,900 square feet is priced at ago, while the overall supply of homes for for recreation property in the around $225,000 to $240,000, Zurgilgen says. $499,000. sale dropped by 54 per cent. Wlast few years, prices have come Lakefront real estate remains highly sought Even single-family chalets at the resort Mike Orr, director of the school’s Center down in many areas, and there are some after, and most of the best deals are found on have come down in price, including a for Real Estate Theory and Practice, says the deals to be found. properties under $600,000, he adds. three-bedroom, two-bath home now listed at inventory of single-family homes for sale under An area of Western Canada that lost many Another area where recreation property $419,000, Jolie says. $250,000 with no existing contract is equal to of its buyers to Arizona is now being seen as a has become more affordable is down the “It’s a good time to invest. It’s better than only 21 days of supply. great deal only three hours from Calgary. highway from Invermere in Kimberley, B.C. the stock market,” she says. “Most homes priced well are attracting Daniel Zurgilgen, owner of Maxwell Marilyn Jolie, a realtor with East Kootenay One place where Albertans have been multiple offers within a couple of days,” says Realty Invermere, says the reasons why Cal- Realty’s Kimberley office, says there are cur- flocking in droves to buy recreation property Orr. “Up to 20 or 30 offers for a home are garians have been buying in the Columbia rently more than 100 real estate listings near due to low prices is Phoenix, Ariz. becoming common, and often, many offers Valley for years have not changed, includ- Kimberley Alpine Resort ski hill and the Tiffany Haynes, a realtor with Re/Max exceed the asking price.” ing its close proximity, warmer climate and Trickle Creek golf course Excalibur in Scottsdale, Ariz. and former When properties do become available, multitude of recreational opportunities. “Absolutely, there are deals galore up Calgarian, says she has several current they are still a good buy, but Canadians have What has changed are the amount of here,” says Jolie, adding prices on many clients from Alberta who are waiting and to be prepared to act quickly and possibly properties on the market and prices. recreation properties having dropped 40 to hoping for a suitable property to come on compete for a property, says Haynes. “We have inventory like we’ve never had 50 per cent from the peak of the market. the market. With the Arizona real estate laws allow- before, and that’s why prices are down. So For example, one Kimberley property that “The properties here are going really fast. ing a buyer 10 days to inspect a property, buyers can really pick and choose,” says was originally listed at $599,000 has seen Anything that comes on the market is gone she contacts an Alberta client as soon as a Zurgilgen. several price adjustments and is now listed at almost immediately, with four or five offers. suitable listing comes on the market, then Prices in the valley start at $50,000 for a $299,000, she says. The last time I’ve seen this, was in 2005,” takes a video of the property to e-mail to the building lot, $300,000 to $350,0000 for a home Elsewhere, you can buy a quarter share she says. client. that may need some updating and $350,000 to in a property starting at $72,500, or full “It’s still a real good buyers market, be- “If they like it, we write a contract and $400,000 for home that is modern. ownership of a 30-year-old one-bedroom cause the prices are still low.” they have 10 days to come down here and “It’s been a long, long time since we’ve condominium unit on the ski hill for under Phoenix is the fastest rising market in the look at it.” seen that,” says Zurgilgen $100,000. United States, Haynes says. — Courtesy Kootenay Rockies Tourism, Don Weixl photo There is also a large number of resort con- Newer condominium units — such as a Real estate statistics for April 2012 A day on Lake Windermere provides a multi- dominiums available, due to the number of one-bedroom with den measuring 950 square released by the W. P. Carey School of Busi- tude of recreation opportunities — one of the projects built around 2005 during the height feet in a complex built in 2008 — can be ness at Arizona State University show the major draws of the Invermere area to vacation of the local real estate market. found for $197,000, while a ski-in/ski-out median price of a single-family home price home buyers.
recreation & investment properties | summer 2012 | 7 Do the math - financing a vacation home ust as there are many types of recre- have a permanent heating source. ation properties, there are different Robinson says the property should be Jways to finance them, too. occupied by the owners or their rela- “It’s easier than ever to gain financing tives. If you intend on collecting rent on a recreational property. There are more on this type of property, this may not options than ever available from Canadian qualify for a high-ratio insured mort- Classic Cottage Country lenders and insurers,” says Kelly Robinson, gage. Gull Lake, Alberta mortgage specialists manager with RBC in Calgary. Conventional Mortgage Robinson says depending on the circum- Robinson says a conventional mortgage stances, you can finance the purchase of a allows you to finance up to 80 per cent of recreational property with as little as a five the purchase price of the vacation home, per cent down payment. thus requiring a down payment of at least He says you will need to meet the 20 per cent. If you plan on purchasing a general lending requirements that take property such as a seasonal cottage for into account your Total Debt Service summer (or winter) use only, a conven- Ratio (TDSR). Under financial industry tional mortgage may be the choice for guidelines, your TDSR can not exceed you. approximately 40 per cent of your gross One important factor with both con- income. ventional and insured mortgages is lenders Your TDSR includes mortgage payments, typically offer them when purchasing property taxes and utilities — on the prop- a recreational single-family home or condo- erty you intend to buy and your primary minium, and not for other property types residence — plus any other consumer debts such as timeshares, fractional ownership including credit cards and car loans. and life leases. Here’s a look at some of the options available for financing a recreation prop- Home Equity Line of Credit erty/vacation home. Robinson says if you have equity in your principal residence or High-Ratio Insured Mortgages even a second home, you can Robinson says to finance a effectively borrow some of that recreation property using less than equity, which gives you freedom a 20 per cent down payment, you to purchase almost any property will require a high-ratio insured type, such as a timeshare, condo mortgage. you plan to place in a rental pool In general, to qualify for when not using it, or a property a high ratio mortgage for a outside Canada. recreational property, (five to A home equity line of credit al- 19 per cent down payment), a lows you borrow up to 80 per cent recreational property/vacation of the equity in your home — that home needs to be ac- is the value of the home less the Your cottage rests on the shores of a quiet spring fed canal on a prairie cessible year round, debt still owing on it, as de- lake in Central Alberta. Your country getaway unfolds to calm waters and not seasonal termined by an up-to-date surrounded by wetland trails, scenic bridges and sandy beaches. Your in nature — such appraisal. family reconnects and rediscovers around the table, around the fire, as a mountain Robinson recom- enjoying boating swimming and watching the sun go down. Your cabin that is not mends sitting down community gathers at the playground or the hall as you and your friends, accessible during with a professional old and new explore summer together. the winter be- mortgage specialist to cause of annual learn about the options Meridian Beach. Dream it. Believe it. See it. road closures. The and help you choose the building should be a product that best meets permanent structure your needs. with a foundation, and — Thinkstock photo 8 | recreation & investment properties | summer 2012 Property use will determine insurance costs
ome or condo insurance is fairly straightforward when the property His your primary residence. A recre- ation property, however, can be a different matter. Where the property is located, how often it is used and whether it will be rented out are among the factors that may come into play in determining the type of insurance coverage to purchase, and how much it will cost. Frits Wortman, consumer informa- tion officer with Alberta and the North, Insurance Bureau of Canada, says when shopping for insurance on a recreation property, the first stop should be at the company that provides insurance on the buyer’s primary residence. Wortman says the buyer can have the vacation property listed on his or her home insurance as a secondary or seasonal location. The greater difficulty is writing a policy — Thinkstock photo for a vacation home. Given the potentially greater risk, many companies will want to as garages and sheds up to perhaps 10 or insure the buyer’s primary residence before 15 per cent of the value of the main home, agreeing to sell insurance for a recreation that is not the case with vacation home property, he adds. policies. There are major differences between A two-car garage or boat house, for ex- insurance for a primary home and vacation ample, will need additional coverage. property, primarily because a vacation home Other things to think about when con- is only occupied part time, and is therefore sidering insurance include how the property riskier to ensure, says Wortman. will be used. Wortman says if homeown- Rather than a comprehensive policy, ers plan to rent their property, it will be a vacation property insurance is offered as a higher risk and will likely affect the cost. In named perils policy, meaning it will cover addition, any damage caused by tenants may specific risks, such as fire, explosion and be excluded from coverage. smoke damage. If a vacation property is purchased under Coverage for additional risks, such as wa- a company name, an insurance company ter damage, may be more difficult or expen- will consider that to be providing insurance sive to arrange, because the property owner to a corporate entity, which can affect the might not be there to take quick action if a overall process. water pipe bursts, Wortman says. It is possible to get a traditional home- Additional coverage can also be added for owners’ policy for a vacation home, but burglary, riot or glass, but, again, it can be the owner would need to live there full expensive, because the property is unoccu- time at least 50 per cent of the year, Wort- pied much of the time. man says. Wortman notes burglary is not the same as The best advice when it comes to insur- theft coverage, and requires there be signs of ing recreation property is to “discuss it forceable entry into a home. with the people you are doing business Another consideration is while a typical with, whether an insurance company or a homeowner’s policy automatically includes broker, and tell them, ‘This is what I want an extension to cover out buildings such to do.’” recreation & investment properties | summer 2012 | 9 Make home uninviting for would-be crooks
et to know your neighbours: That’s “I think the relationship with your neigh- break-in, but we have to be aware of oppor- a key tip when it comes to ensur- ... the relationship with bours is very important,” says Mason Cockx tunists,” she says, adding some areas require Ging your recreation property is of Re/Max Realty Horizon in Strathmore, home-check service employees undergo secure during the weeks and months you’re your neighbours is very whose blog at cockxrealty.com lists security security training, which is the case at Val- back in Calgary. among important considerations when buying ley Home Check. “If you happen to come Of course, buying into a development with important. If they see a recreation property. across an intruder, (it’s about) how you pro- on-site security and maintenance provides “When you get to know who your neigh- tect yourself and deal with the situation.” protection. But there are also single-family strangers around your bours are, if they see strangers around your For information on Alberta’s Rural Crime homes, condos, RV sites and cabins at the property, they’re going to check who it is,” Watch, visit ruralcrimewatch.ab.ca. lake that are standalone. property, they’re going he says. “You might ask them to cut your Common sense is a strong defence. Make grass for you if you’re not there.” it difficult for someone to break in by ensur- to check who it is. Cockx also recommends keeping local — Mason Cockx, ing all doors are good doors with deadbolts Re/Max Realty Horizon police or RCMP informed when you’re go- and making sure you have good padlocks on ing to be away. window latches and sheds. And make sure If a Rural Crime Watch program is avail- the doors are screwed right into the frame, away quads, trikes, alcohol and TVs. able, check in with them. not just the door panelling. Anything of value you leave behind Julie Watkins — who with husband, Many of the tips police give for securing should be marked in some way, such as en- Richard — runs Valley Home Check Ltd. in urban properties apply in rural areas, too. A graving your driver’s licence number in an Courtenay, B.C., says arranging a service or piece of doweling in the track can prevent out-of-the-way place. Keep a record of serial a neighbour to pick up mail, mow the lawn a sliding door from being opened; install numbers off-site. occasionally and generally give the home a a timer for lights and other “signs of life.” Another way to keep your property safe lived-in look is key to making it less attrac- It’s advisable to make your property less- is to have neighbours watch your property tive to break-ins.
interesting to crooks by removing or putting when you’re away. “Touch wood, we’ve never come across a — Thinkstock photo
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www.sundreriverresort.com 10 | recreation & investment properties | summer 2012 Advertising Feature Welcome home to CopperSide at Lakeview Meadows
o you want to indulge in the fin- est luxury living in the Columbia DValley’s premiere residential development and have the majes- tic Canadian Rockies serve as your backdrop? Do you want to relish in a maintenance-free, lock-and-leave life- style while enjoying access to high- end amenities? If so, CopperSide at Lakeview Meadows, located on the east side of Lake Windermere, adjacent to the second hole at Copper Point Golf r master-planned Course, welcomes you home. Just e’s premie • Windermer adows. a two-and-a-half-hour drive west of - Lakeview Me Calgary, CopperSide is the last phase community trails in Lakeview Meadows, a premiere d hiking/biking 120-acre lakeside recreational com- of pave s, munity with more than 285 proper- • Over 10km pace, tenni ties and more than 30 acres of trails park s of preserved and park space. • 30+ acres courts CopperSide owners will have access and basketball to all of Lakeview’s amenities, includ- volleyball ing a private community beach, a rec- tub reation centre with indoor pool, hot pool and hot tub, exercise room, adult lounge and • Indoor recreation kids’ arcade, a tennis court, beach ted owners volleyball court and a day-use dock. • Fully appoin CopperSide is a 26-unit luxury centre residential condominium building and fitness that has set its own high standard of h docks living. beach wit homes “As far as its interior, CopperSide • Private droom condominium is the most luxurious condominium ry 2 and 3 be property in the Windermere Valley,” • 7 Luxu price from says Frank Kernick, president of , ranging in Holland Creek Developments Inc.’s remaining Lakeview Meadows. “Each unit is - $699,000 finished with hardwood floors, gran- $499,000 ite countertops, solid wood doors the HST and four-inch wood baseboards. The • Developer pays ive windows building has 100 per cent geothermal and expans heating and air conditioning. The d ceilings second floor of 1 1/2 storey units have vaulte s • Large untain view large vaulted ceilings and expansive Radium & mo Calgary stunning Point windows with stunning mountain Invermere for of Copper views. Each unit also has elevator fairway Althalmer Hwy. the 2nd access to two underground park- Situated on ing stalls, a large storage locker and Rd. • km 93/95 parking for a golf cart. 2 lf Course mbermont Go Hwy Prices range from $499,000 for a Ti Drive Rd. yle w t two-bedroom unit, and $649,000 to Lakevie Windermere e lifes
Hill av & Fairmont and le $699,000 for a three-bedroom unit Hot Sprimgs Lock Lake • (HST included). Currently, there are only seven units Visit our left, and Lakeview Meadows is one of Show home open the highest demand communites for show home at recreation property in the valley. Thursday to Monday 11am to 4pm For more information, visit 880 Lakeview Drive www.coppersidecondos.com. Invermere BC Phone (250) 342-2536 • www.coppersidecondos.com recreation & investment properties | summer 2012 | 11 A property for every taste and budget
hen it comes to choosing the ally replacing your towable RV with a recreation property that’s right constructed cottage, which can be a great Wfor you, it really comes down way to move up in the market without to personal preference. There is no one changing locations. best type of property; each have their advantages and each appeal to a different Resort condominiums kind of buyer. Often located at ski hills, on the water- Here is some advice from real estate front, or at golf courses, resort condomini- experts on questions to ask when looking ums differ from a residential condomin- at the most popular types of recreation ium by their often long list of amenities properties. and available onsite rental programs. When resort condo shopping, find out Building lots or bare acreages all costs associated with both purchase and The idea of buying some land and ownership, including condominium fees, building your own vacation home has property management fees, and a possible plenty of appeal, but are you prepared for annual resort fees paid to cover a share of the reality? the overall resort amenities. If you buy part Does the developer require you to or fractional ownership, consider whether use their chosen builder(s), or can you the monthly fees are in reasonable propor- bring in an outside company? Are there tion to the amount of weeks you get to use architectural or other guidelines such your unit. Does the resort have two “legs” as minimum size, and do you have the when it comes to seasonal attractions, such budget to build such a home? Is there a as skiing in the winter and golf in the sum- building time commitment, such as start- mer? That will increase its marketability ing construction within so many years, or and resale potential. a final date to finish construction? Don’t fall into the trap of buying land Cabins, cottages and chalets now with the hope you will have enough A fancier terms for a single-family money to build in the future, or you may home, these types of recreation property have to sell at a fire sale price as the building can often resemble a home in the city, but deadline looms. If you plan to build yourself, there are plenty of differences to think what is the availability of skilled trades about before choosing one. in the area, to look after things you can’t Is the cabin located in an urban setting handle such as electrical and plumbing. with modern utilities, or will you need to learn about the intricacies of wells, septic — Thinkstock photo RV resorts systems or propane deliveries? A cabin in a remote setting is very appealing, but with it comes the intricacies of wells, septic systems and, A popular way for people to enter the If it is a resale cabin, especially one that possibly, propane deliveries. recreation property market, RV resorts al- has been around for a while, get a land low you to park a newer model RV or park survey to ensure that the property bound- Edgewater, BC · 11 Kms North of model RV on a lot and then construct a aries are accurate. Otherwise you might Radium Hot Springs on Hwy 95 deck, patio covers and storage shed. end up finding out later that part of the Before you buy, find out what utili- property does not actually belong to you. ties are available, whether they run year Research to determine if the area you Titled Cottages round, and what is included in your are in has any specific zoning issues that RV Lots “condo” fees that many RV resorts use to may restrict your ability to build addition cover community expenses. Also, does the structures, have a fire pit, stable some resort have rule about pets, parties, guests, horses, etc. On the flip side, be wary of landscaping, boat parking and any other areas with no land use bylaws, or a new issues that might affect your enjoyment neighbour could move in and start up a of your RV property? Are there resident pig farm. Finally, make use of an accred- POOL · TENNIS COURT · COMMUNITY CENTRE · BASKETBALL COURT · PLAYGROUND · FITNESS CENTRE amenities, such as beach, golf course, ited home inspector, it could be the best 403.540.6601 | www.valleysedgeresort.ca clubhouse, swimming pool, etc? Some $300 you spend in your quest to find the RV resorts give you the option of eventu- ideal recreation property. 12 | recreation & investment properties | summer 2012 Advertising Feature Statesman – ‘what a beautiful way to live’
tatesman is an award-winning group of companies approaching half a Scentury of providing innovative developments throughout North America. Its slogan, “What a beautiful way to live,” is and remains its guiding principle. Statesman Resorts’ properties offer the ideal home or vacation getaway. Each property offers a serene location and atmosphere for relaxation, golf, ski- EARN ing or a special adventure planned for you and your family. Is this investment opportunity too good to be true? Consider the following five points and then you decide. 4.2% 1) I purchase a beautifully decorated resort condo at reduced pricing. 2) All costs of ownership are paid on OWN a Beautifully my behalf (except my taxes). Furnished Vacation 3) I receive back a revenue payment each month that is equivalent to a mini- Resort Condo from mum of 4.2 per cent of the purchase price. 4) Plus, the package includes four weeks only $239,900 of spectacular vacation time — choose from golf, boating, skiing and much more. 5) My family or friends and I receive VIP privileged discounts on activities such as golf, skiing, boating, spa days and restaurants or entertainment. Easy decision. Statesman Resorts’ has made owning your vacation condo easy, fun and reward- ing. Unlike a time share, you invest in 100 per cent ownership of your vacation resort New Phase Released condo, maximizing the potential return on your investment through professional on-site property management where short- term vacation rentals are secured. Best of all, you’re buying from an established developer who is willing to protect your investment through secured returns. All you pay is the cleaning fee when you depart your vacation resort. With award-winning design and interiors Statesman Resort properties are second to none. Statesman’s Interior Design Centre customizes your vacation resort condo to all levels of quality and luxury, includ- ing kitchens with granite countertops and stainless-steel appliances with relaxing inte- rior furnishings and accessories. With a new phase of one-, two- or three- bedroom resort condos now available for early-bird discounts, the only choice you need to make is which of Statesman’s three new resorts for 2013 to select from. For more information, visit www.statesmancorporation.com or call ��� ��� ���� 403-256-4151.
recreation & investment properties | summer 2012 | 13 Chaise lounge Get ready for summer with these Curvy and durable, the Halo chaise lounge has a hand-welded frame and UV-resistant, four-season cool cool accessories for your vacation resin wicker construction, making it ideal for any climate. The body-conforming N-dura wicker means cushions are not required for comfort. home, cabin or cottage. www.summerclassics.com IDEAS compiled by Gerald Vander Pyl
Teak bench A naturally weather-resistant material, teak also has a timeless beauty with golden brown, close- grained wood that is impervious to the effects of sun, rain or frost. Gloster uses only wood sourced from sustainable teak plantations. www.gloster.com
Outdoor speaker Tired of listening to a tinny portable radio or music player outdoors? Wire your quality indoor stereo system to the Klipsch AW-500-SM speaker. The Barbecue grill speaker is weatherproofed yet still Ready to handle the biggest summer dinner parties, the Vermont Casting provides the company’s famous sound Signature Series Model 522 has five burners, 102,500 total BTUs and quality with a five-inch woofer and dual 990 square inches of cooking area — enough room to grill 36 burgers one-inch dome tweeters. at once. The grill even includes a built-in flexible LED cooking light. www.klipsch.com www.vermontcastings.com
Take caution when ‘cueing – make food safety a priority Barbecue season is here. Before you fire tor that meat is safe to eat. Meat can turn up your grill, here are some food safety tips brown before all bacteria are killed, so use from Health Canada: a digital food thermometer to be sure. Eating undercooked meat and other n To check the temperature of meat foods that have come into contact with that you are cooking on the barbecue, take raw meat can result in foodborne illnesses, the meat off the grill and insert the digital caused by bacteria such as E. coli and food thermometer through the thickest salmonella. part of the meat. You can help lower your risk of food- n If you are cooking a beef hamburger, borne illness by handling and cooking raw take the patty from the grill and insert the ShuSwap waterfront meat carefully. digital food thermometer through the side, n Raw meat should always be stored in all the way to the middle of the patty. Condo Clear out the refrigerator or cooler at 4C (40F) or n Remember to wash the thermometer below. in hot, soapy water between temperature n Make sure to keep raw meat and readings. Only 4 SuiteS left other foods separate to avoid cross-con- n Use clean utensils and plates when tamination. removing cooked meats from the grill. under $400K n Remember to wash your hands and n Always remember to keep hot food other utensils like cutting boards, coun- hot until you are ready to serve. ters and knives — carefully with soap and For more information, visit www.food- legacyonmaralake.com ~ 1.866.656.0291 warm water before and after handling raw safety.gc.ca, go to the Safe Food Handling meats. and Preparation page and select Food n Colour alone is not a reliable indica- Safety Tips.
14 | recreation & investment properties | summer 2012 Routine maintenance key to happy home
ot every recreation property is maintenance-free, repair before closing the property down for a long absence or but a little preparation will ensure it stays in good the winter. Nshape when homeowners are away. When it comes to landscaping or planting, choosing Insurance often requires someone check on a property something that will withstand weeks of weather — and the regularly, says Julie Watkins — who with husband, Richard fact you’re not always there to mow the lawn or pull weeds — runs Valley Home Check Ltd. in Courtenay, B.C. — can be a challenge. “People don’t realize that if they’re gone for a week or “Every house has different needs and different preferenc- more and something happens like the water tank bursts, es,” says Lin Heidt of Greens and Gardens Inc. in Canmore. their insurance can be invalidated,” she says. For Canmore property owners, for example, pine needles The Watkins started offering a service for preparing vaca- falling off the trees “burn the grass,” she says, making main- tion homes for occupation when owners returned. “Then we taining a lawn a challenge if you’re not on top of it. realized there was an insurance and security aspect,” says Ju- One option, Heidt says, is to consider xeriscaping — a lie. They check clients’ homes for damage after storms, look form of landscaping using plants that requires less watering for snow-and-ice-blocked drains during winter and make sure and overall maintenance. “We get quite the extremes in appliances are functioning properly. (weather), and this lends itself well to xeriscaping,” she says. “We also do things like yardwork, clearing newspapers, — Thinkstock photo Even if you buy into a maintenance-free development, clearing leaves,” she says, adding, where similar services see if any trees fell down or boards are rotten. See if there’s that doesn’t always mean you have zero responsibility, says exist, she recommends checking references and ensuring the any damage from someone breaking in or an animal getting Bernie Winter of Condo-Check, a Calgary-based document business has sufficient liability insurance and (where appli- inside.” review service. cable) is security-service-licensed. Inside, be aware of “any strange odours implying gas- “Just because you have a board taking care of the main- When returning to your cottage after a long winter, there leakage or dead animals. And then start turning back on the tenance pieces, you may not have to call the roofer in, but are things you should do to make sure it’s ready for summer, services and water supply,” says Lugger, adding if you have a you’re still responsible to let the board know if you have a says Steve Lugger, product expert with the Home Depot. gas stove, check the venturis for possible blockage by insects. roof leak,” she says. The key is to examine the documenta- “You should look for possible damage from snow, frost While you should enjoy your getaway, Lugger suggests tion you get when you buy, to make sure you’re clear on what or ice,” he says. “Take a look at the decks and stairways to having a notepad handy to jot down things that may need you’re responsible for.
Renting property will offset costs OCEANFRONT LOTS • VANCOUVER ISLAND 4 only and help keep home secure lots The unfortunate reality for many people is marketing the property, taking reserva- left they are only able to use their vacation home tions and receiving payment, and handling for part of the year. The rest of the time it sits all cleaning of the property. An owner empty, a potential waste of a valuable asset. provides the property, and then receives a The solution could be to rent out your monthly statement showing revenue, less property when it is not being used. Many expenses and a management fee, usually real estate developments these days offer 40 per cent. buyers the option of placing their unit into a n In addition to the financial benefit, rent- rental pool, and sharing in any revenue that ing also provides several other advantages. One is generated. For owners of single-family va- is your vacation home will not sit unoccupied Located in the beautiful community of Saratoga Beach. Striking mountain cation homes, there are professional property for long periods of time. There will be a visible views of the rugged coastal mainland. Every lot boasts beautiful natural management companies that will rent out presence with guests staying there, which your property for you. can help deter thieves and vandals. Property landscape and is fully serviced. Shopping, Medical Clinic, Marina, golf Here are some things you should know management staff can also keep an eye open and winter skiing only minutes away. about renting out your recreational property: for maintenance problems, such as a leaky pipe n Some people hope they can have a va- that might otherwise sit unfixed until an owner cation home pay for itself by renting it out. returned to their property. But the reality is that with the cost of buying n A management company will want you 1-855-866-2121 property, the most you should expect is to to come up with a schedule of when you plan generate money to help defray the expense to use your property and when it is available of ownership, not to cover a mortgage. for rental. Since rental requests for peak times n A property management company will such as Christmas are often made far in ad- typically look after all aspects of rent- vance, an owner should be prepared to come ing out your property. That can include up with a schedule as soon as possible. www.driftwoodestates.ca recreation & investment properties | summer 2012 | 15 Fantasy islands – get away from it all By gerald vander pyl with another realtor at $1.4 million, then 1.2 to 1.6 hectares in size, with 122 “The benefit for Gambier and Keats in hen it comes to recreation dropped to $1.3 million, and is now listed metres of walk-on beach and featuring the Howe Sound area is that we are liter- properties in Western Canada, for $850,000. a 2,500- to 3,000-square-foot home, are ally accessible from downtown Vancouver Wa vacation home on one of Less known to many people are the priced at about $1 million. in an hour.” British Columbia’s islands just might be Northern Gulf Islands, which include Den- If oceanfront property is not a priority, He says compared with oceanfront on the ultimate purchase. man and Hornby Islands, that are a short a typical 2,300-square-foot contemporary the mainland, similar real estate on Gam- Peter Nash, a realtor with Macdonald ferry ride from the Comox Valley region. home in Denman Village close to ameni- bier is a bargain. Realty in Victoria who has been selling real James Warner, owner and managing broker ties such as the school or seniors’ centre “In West Vancouver less than half an estate on the Southern Gulf Islands for more of Re/Max The Islands, says they are easy to can be found for under $500,000. hour away, waterfront is going for $4 mil- than 30 years, says living on an island can be access with flights from Calgary directly into A more rustic cottage on a 0.2-hectare lion or $5 million.” a magical experience for the right person. Comox airport, and then less than a hour lot on either island would be priced at Gustavson says there is a development Nash says most people choose the island trip via road and ferry to Denman Island. about $300,000. on Gambier Island of 2.02-hectare lots lifestyle for the slower pace of life, and the “We do have a contingent of clients Another set of islands that might be a with power, a common dock, low-bank opportunity to get away from the rat race from Calgary who bought and come on a bit of a mystery to Albertans are the Howe waterfront that is west facing to catch the of a major city. regular basis. They have a vehicle parked Sound islands, tucked between West Van- evening sunsets — priced from $625,000 “You see some people who buy on an at the Comox airport and journey out to couver and the Sunshine Coast. to $675,000. island and then feel a bit trapped, because their vacation property.” Bowen Island is the most populous with He says some areas of Gambier Island you’re totally reliant on the ferries,” says Warner, who moved from Banff to Den- 3,500 residents, and serves almost as a don’t have power, but with the state of off- Nash. “But many people are captivated by man Island, says it and Hornby are “the suburb of Vancouver. grid technology, many people are happy to it, and they don’t mind travelling two or jewels of the northern Gulf Islands” and a But Gambier Island remains much less buy land and build a self-sufficient home. threes hours, because (the lifestyle) is so great recreational getaway. developed, due to a lack of vehicle ferry A non-waterfront 2.02-hectare lot, with unique when they get there.” He says with the mild climate, and quick service, and the fact 70 per cent of the a drilled well and beautiful view, starts at He says real estate market has been ferry access, “in January you can be skiing island is Crown land. $169,000, says Gustavson. slow for several years on the Southern in the morning (at Mount Washington “It’s very much a green island,” says Rick There is a small general store on Gam- Gulf Islands, which include well-known on Vancouver Island), kayaking in the Gustavson, owner of Re/Max Gustavson in bier Island, but otherwise no commercial islands such as Salt Spring, Pender, Mayne, afternoon, and be back at your home (on West Vancouver. development, which is the way residents Galiano, Saturna and Gabriola. Denman or Hornby Island) in the evening “People who buy (on Gambier) are typi- want things to stay. “People are looking but not committing, going for a short stroll on the beach.” cally a little bit adventuresome because “You’re never going to get your 7-Eleven but there is still some very desirable (prop- Warner says you can buy a 0.2-hectare you can’t drive out to it.” here,” says Gustavson. “In some ways, we erties) out there and some very good buys oceanfront lot for $450,000 on Hornby or He says there is passenger ferry service to are so close (to the city), but yet so far — prices have come down quite a bit.” $375,00 on Denman and build your dream Gambier and nearby Keats Island, and peo- away.” Nash says he has a listing for a water- home, or find a similar lot with home for ple can also travel by water taxi or private — Courtesy Tourism British Columbia front home on Galiano Island with its $600,000 to $650,000. boat, making it surprisingly easy to access a Above: Hornby Island, is considered one of the own dock, which was originally priced Larger estate lots on the water, about recreation property on the island. jewels of the northern Gulf Islands.
16 | recreation & investment properties | summer 2012 Advertising Feature The Rise on Maple Bay – above the ordinary s the sun fades behind forest, reflecting Maple Bay Marina on Vancouver Island, this to the aquatic playground of the Gulf and 28 lots have fantastic views. purple and orange shadows onto Salt collection of beautiful properties look out San Juan Islands and the adventures that Maple Bay Marina is open year round ASpring Island and the bay, you are relax- over Bird’s Eye Cove and Maple Bay itself. wait beyond. Sail to Seattle for a weekend and features modern facilities and fine din- ing on the oversized deck of your custom-built Protected from the wind and weather, the of mariner's games and shopping, or spend ing at The Shipyard Restaurant and Pub. Modern Coastal Home, sipping a glass of local remarkable microclimate lies in the heart the day on a quiet nearby beach that feels Floatplane service from the marina docks wine from one of the nearby vintners. of Canada’s “Cowichan” warm land. a million miles from civilization. allows direct access to the Vancouver Perhaps tomorrow, you will explore one of Just beyond the evergreen forests are Homes boast contemporary designs both Harbour or airport. Victoria and Nanaimo the world-famous Gulf Islands that wait just the many small character towns, marine inside and out, while the community fea- are a short one-hour drive away. past the harbour. Maybe, you will spend the villages, farms and all the urban culture tures underground services including; city Ocean-view home sites start at $219,000; morning fishing, or maybe you’ll just take expected from much larger centres, only water, storm water drainage and connec- complete homes are available from a nap and breath in the ocean air. This is 10 minutes away in Duncan, B.C. tions to the most environmentally respon- $799,000. For more information and to everyday life at The Rise on Maple Bay. Because of its prime location, the Rise sible and modern wastewater treatment view a walk-through video of the commu- Located on a stunning plateau just above on Maple Bay offers unparalleled access facility on Vancouver Island. Each of the nity, visit www.theriseonmaplebay.com.
hen the horizon is more than a view, It’s an experience.
www.TheRiseOnMapleBay.com The Rise on Maple Bay David R Messier 1 866 746 8482 $219,900 – $419,900 I Shore Pine Close [email protected] The Rise on Maple Bay presents the discerning home buyer with the opportunity to create a personal expression through unique architecture, nature, and lifestyle. Offering 28 fully-serviced Home Sites, The Rise on Maple Bay features underground services, connection to a waste treatment facility and building schemes to ensure views and architectural integrity.
RESIDENTS AT THE RISE WILL ENJOY PREFERRED MOORAGE PRIVILEGES AT THE FIRST CLASS MAPLE BAY MARINA.
recreation & investment properties | summer 2012 | 17 Advertising Feature True Key properties offer best in turn-key living hat if it was possible to own golf courses minutes away, along with seven the recreation property of your ski hills, two lakes, the Radium Hot Springs, Wdreams? And what if it was afford- and national and provincial parks on all able and located in the middle of the Rocky sides, this resort is truly the heart of a great Mountains, or steps away from the Pacific Canadian playground. Ocean? True Key Resorts opens the door to Fractional ownership in Bighorn Meadows that possibility. starts at $59,900 for a three-bedroom con- Over the last decade, True Key Resorts dominium. has turned vacation dreams into realities Sooke Harbour Resort and Marina is locat- with its fractional ownership properties. With ed on Vancouver Island, a 30-minute drive one-eighth shares available from as low as from Victoria and five minutes from some $34,900, fractional ownership is the logical of the best fishing in the world. Two- and way to own titled property that is both a three-bedroom townhome condominiums financial investment and an investment in are available, starting at $49,900. your family’s future. Whether you are relaxing in the outdoor “It holds its value just like conventional hot tubs, watching the seals frolic in the real estate, and it fluctuates accordingly Pacific Ocean, or counting the starfish as with the current market and conditions. So you stroll down the marina, Sooke Harbour when it’s time to sell, you’ll see the same Resort provides the perfect location to get value as you would investing in whole real away from it all. estate without tying up a large amount of the world, exchange programs are available Resort, Sunrise Ridge Waterfront Resort, Sunrise Ridge Waterfront Resort sits steps capital, and right now is the time to buy low,” through Interval International and RCI. and Sooke Harbour Resort and Marina. All from the sandy beaches that Parksville, B.C. says director of sales and marketing Valerie “The vacation property can put you on three contain the same turn-key conve- is famous for. This Vancouver Island resort Bracken. a beach in the Caribbean, or golfing in the nience, professional design and come fully offers something for everyone — from golf- By purchasing a one-eighth share in any desert, or an urban vacation in downtown furnished with washer and dryer, barbecue, ers and wilderness enthusiasts to fishermen of True Key Resorts properties, homeowners New York City. Or it can be a weekend fireplace and everything from cutlery to and those who like to lay on the beach with not only get a vacation home for six weeks family vacation at your home resort,” says hand towels. a good book. Ownership in a two-bedroom a year, they also own property that can gen- Bracken. Bighorn Meadows Resort sits on the property starts at $34,900. erate rental income during the weeks they True Key Resorts currently offers three ninth fairway of the prestigious Springs Golf For more information, visit www.truekey- don’t use. For vacationers who want to see different properties: Bighorn Meadows Course in Radium Hot Springs, B.C. With 17 resorts.com.
Advertising Feature Lake Windermere Pointe perfect year-round retreat n the warm side of the Rockies, beach for a day of relaxing in the sun. beautiful weather, recreation galore Invermere offers an array of eclectic Oand the vacation home of your shops, spas, fine dining and rich culture dreams awaits in Invermere, B.C. including galleries featuring both local and Just a 2.5-hour drive from Calgary through international artists, live music, theatre and beautiful Kootenay National Park and Radium the Windermere Valley Museum. Hot Springs, the resort community of Lake At Lake Windermere Pointe, even rainy Windermere Pointe is the natural choice for a days will be vacations to remember. Every vacation home close to home. suite contains all the comfort, convenience, Starting in the $170,000’s these one-, craftsmanship and quality that Pointe of View two-, and three-bedroom apartment-style developments are known for. Each beautifully condos overlook Lake Windermere, James appointed home features every convenience Chabot Provincial Park and the Rocky to make each stay a relaxing one, including Mountains beyond. No matter which direc- washer and dryer, frost-free fridge, self-clean- tion you face, recreation, adventure and ing range and three-level dishwasher. beauty stare back at you. It is no surprise that Lake Windermere “One of the biggest things that we offer Pointe has proven to be a major draw for at Lake Windermere Pointe is a central Calgarians looking for a place to get away location in the valley. We’re 10 minutes to from it all. Of the 224 units initially offered Radium, 15 minutes to Fairmont, 20 minutes only 40 remain. McIntosh says with prices to Panorama and about three steps from residents are sure to spend many a day provincial parks, the fishing, the hunting, lower than ever, units are moving fast. the lake,” says developer Doug McIntosh. canoeing, kayaking, fishing and swimming, the skiing in Panorama, and the helicopter “The response this spring has been tre- An adjacent marina also makes Lake this inviting playground is only a part of skiing — it is all close at hand.” mendous,” he says. “We are seeing a real Windermere Pointe an ideal location for what the surrounding area has to offer. For those who want to enjoy a slower cross-section from boomers right through boating enthusiasts. “We have in the Columbia Valley some pace, Lake Windermere Pointe offers to hard-working young families. Quite a The Windermere Valley and Columbia of the best golfing opportunities that plenty of opportunity for relaxation. The few of them are taking advantage of the Valley are renowned for their excellent there are, period,” says McIntosh. “Two hot development features a heated pool pricing. You’re buying at cost essentially.” weather and even better recreation, mak- springs, some of the best hiking trails and and hot tub, pool house with lounge and For more information, visit ing Lake Windermere Pointe the perfect mountain bike trails in the country, home exercise facilities. Or, residents can step www.lakewindermerepointe.com, or call location for a year-round retreat. While of the Bugaboo mountains and lodge, the out of the front door and onto the sandy 1-888-341-3466.
18 | recreation & investment properties | summer 2012 TRUE QUALITY. LIMITED AVAILABILITY RUE LUXURY. RUE KEY RESORTS. CONT T T ACT US . Premier Fractional Properties... The Most Practical Way to Ownn TO BOOK TODAY A TOUR.
3 Bedroom 1/8th $59,900 1-888-766-9637 Radium Hot Springs, BC [email protected] www.bighornmeadows.ca
2 Bedroom 1/8th $34,900 1-866-812-3224 [email protected] www.sunriseresortparksville.ca Parksville, Vancouver Island
2 Bedroom 1/8th $49,900 1-778-352-3552 Sooke, Vancouver Island Www.ownsookeresort.cA [email protected] FROMTHE british columbia’s best priced lakeFront property $170’s
All inventory must go!
Buy Now and Enjoy the Summer ask us about the excellent rental income opportunity limited suites Available and selling Fast at Prices you Won’t see Again lake Front condos Immediate Possessions • Suites Include 6 appliances Register for more info: lakewindermerepointe.com • Swimming Pool & Hot Tubs • Fitness Centre & Lounge
3 RD A Sales Center and Show Suites 5 VE TH
A VE TOBY CREEK ROAD LAURIER in Invermere open for viewing RADIUM LAKE PANORAMA WINDERMERE Open Daily 11am - 5pm VILLAGE POINTE
JAMES CHABOT 1.888.341.3466 PROVINCIAL TOWN OF PARK FAIRMONT LAKE INVERMERE WINDERMERE 7 Email [email protected] TH A VE for more information
Prices shown are subject to availability