Canmore Condos - Kananaskis Way Zoning Differences That Impact Your Investment

By
Real Estate Agent with MaxWell Mountain Realty

CANMORE CONDOS - KANANASKIS WAY ZONING DIFFERENCES THAT IMPACT YOUR INVESTMENT

KANANASKIS WAY offers some of the most affordable property options in Canmore, so it's not surprising that when people are searching around on MLS or Realtor.ca, that these condos attract a great deal of attention.

Before your invest, one of the most important things to be aware of are the ZONING DIFFERENCES between the various buildings on KANANASKIS WAY. In this area of Canmore, condo zoning differs from one building to the next, and more surprisingly in some buildings, from floor to floor. 

There are 3 different types of home property zoning in Canmore:

1. Residential - The vast majority of homes in Canmore fall into this zoning category.

2. Tourist - This zoning allows for both regular residential use, as well as for short term rental options, such as allowing property to be put in a short term rental pool. 

3. Recreational - Zoning of this type allows a maximum use of 28 consecutive days. This means that the property is not to be lived in on a full time basis. 

Properties zoned as Recreational, will typically have a considerably lower listing price than an identical condo property with Tourist zoning because of the restriction on usage. 

The various CANMORE CONDO zoning types on KANANASKIS WAY also impact property taxes. Residential tax rates are typically about half of the tax rate of a tourist zoned or recreational zoned property. The Town of Canmore website outlines the various Mill Rates used to calculate property taxes. 

The Golden Rule: Before you invest, make sure you fully understand the zoning type of the property you're interested in, and the implications this may have both on the use of your home, as well as your property taxes. 

 

Chezlene Kocian, MaxWell Mountain Realty
Canmore, Alberta, Canada

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Alberta Rockies Canmore
Tags:
condos
investment
property
taxes
zoning
canmore
kananaskis way
rental pool

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,068,368
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Very important to understand the zoning for each property considered. .thanks for sharing

Apr 06, 2010 09:35 PM #1
Rainer
56,625
Chezlene Kocian
MaxWell Mountain Realty - Canmore, AB

Fernando, thank you so much for taking the time to read my blog! I'm new at this blogging experience, so I truly appreciate your comment! 

Apr 07, 2010 01:50 PM #2
Rainmaker
1,082,180
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Chezlene, this is an excellent explanation of the different types of zoning for the Canmore Condos - Kananaskis Way. We have similar zoning in Florida called short term rental, but there are families who live there year round.

Apr 08, 2010 02:12 PM #3
Rainer
56,625
Chezlene Kocian
MaxWell Mountain Realty - Canmore, AB

Hi Frank and Sharon, thank you very much for your message!

It's interesting to hear that you have similar zoning. In the case of your short term rentals, is the maximum period 28 or 30 days? The folks who are living there year round, are they simply choosing to overlook the bylaws? I'm sure we have people living full time in this type of zoning here too as it is not strictly policed. Technically, you can leave for one day and then the clock starts all over again.

Apr 09, 2010 01:57 AM #4
Anonymous
Rockies Rentals

Thank you for the great summary of the differences between the different zonings.  I am well versed in the details of Tourist Home zoning (we manage Tourist Homes in Canmore), but I was never quite clear on how that differed from 'Recreational'.  This was the perfect summary!

FYI -- although people living long term in a Recreational Use property might not be policed, the Town is beginning to enforce people using residential properties for short term use (under 28 days).  The fine for such use is $1000/day. So while renting your home out for non-residential use might seem like a good money-making idea, it can quickly turn into a disaster.  Another great reason why it's a good idea to be familiar with the zoning of any new purchase.

Dec 16, 2010 11:22 AM #5
Rainmaker
1,506,511
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I believe that the separation of residential, commercial, and industrial space into separate pockets of land is going to be somehow modified. Many people want to live, work, and play in the same location. We see more and more communities in L.A. where people can work and live. 

Nov 01, 2017 09:20 PM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
56,625

Chezlene Kocian

Ask me a question
*
*
*
*
Spam prevention