Whistler Buyer FAQs
Buying a property in Whistler raises a lot of questions. Over the years, we found that buyers we work with ask similar questions about Whistler real estate. We answer all of those questions (and more!) below.
Q: Did Vail's takeover of Whistler Blackcomb have an effect on the Whistler real estate market?
A: Yes, it's true. When Vail comes to town there tends to be a "Vail effect" which boosts the real estate market to a certain degree. We've noticed over the past year here in Whistler that there's been a bit of a change in the type of guest that is coming to enjoy the resort. Skiers from the U.S. and elsewhere who are familiar with other Vail resort offerings have come to Whistler to check it out. Many are liking what they see and choosing to pick up homes and condos here in the process. Our market already has low and ever-shrinking inventory and this increase in buying pressure is certainly moving prices in an upward direction.
Q: What is a "Phase 2" property in Whistler?
A: Phase 2 properties are typically suites you can purchase in many of the hotels in Whistler. Click here for a more detailed explanation of what this means.
Q: What are some of the biggest differences between Phase 1 and Phase 2 condos in Whistler?
A: The unlimited owner use allowed in Phase 1 Whistler townhomes and condos suit some buyers more than others. While if you're trying to get your toe in the Whistler real estate market and you're on more of a budget you may want to consider the 56 days per year of owner use allowed in the Phase 2 condo hotels. Have a look here for a video explanation of why one might be better than the other for you.
Q: When buying, what are the taxes and fees I'll need to pay on the purchase?
A: Here's a quick breakdown of all the fees to expect when purchasing in Whistler:
Property Transfer Tax which is determined as follows:
- 1% on the portion of the price under $200,000
- 2% on the portion of the price between $200,000 and $2,000,000
- 3% on the portion of the price over $2,000,000
- Legal fees for conveyance and title transfer at closing: Budget for $1,500 to $2,000
- 5% Goods & Services Tax on the purchase price (new construction only
Q: What rental properties in Whistler generate the best income?
A: In real estate, it always boils down to location and Whistler is no different. Any property that is located directly on the ski slope is going to generate the best income from a rental standpoint. Ski-in/ski-out is king here so look to purchase in buildings such as The Aspens on Blackcomb, The Pan Pacific Mountainside, The Westin, Le Chamois, The Woodrun, just to name a few. Also, focus on luxury amenities such as large outdoor pools and hot tubs as well as a great gym which will always attract renters to your condo. You pay more to purchase in these buildings but the higher rental income generated will always make up for the higher upfront purchase price.