Ski and recreational property questions

What does it cost to own a ski condo (fees, insurance, snow removal)?

Owning a ski condo means paying monthly strata fees, annual property tax, utilities, and your own condo insurance, plus any special levies the strata votes in. Snow clearing on roads, parking and walkways is usually a strata expense built into the fees. The Form B and budget show the real numbers for each building.

Strata fees vary widely between complexes at Big White, SilverStar and Sun Peaks, depending on age, amenities like hot tubs, and how well the contingency reserve fund is funded. The Form B lists the monthly fee, any special levies, and the reserve balance, and must include an insurance summary.

Insurance is where buyers get surprised. The strata's building policy does not cover your contents, liability, or your share of a deductible. The Province notes strata deductibles can run from $100,000 to $750,000 or more, so a condo policy with deductible coverage matters.

If you plan to rent nightly, mountain resort areas are exempt from B.C.'s principal residence rule, but registration and strata bylaws still apply. Run your numbers with my SilverStar cost of ownership calculator and read about strata deductibles.

Sources: Province of BC: Form B Information Certificate, Province of BC: Strata owner and tenant insurance, Province of BC: Mountain resorts and the Short-Term Rental Accommodations legislation, Province of BC: Principal residence requirement.

General information only, not legal or tax advice. Talk to a lawyer or accountant.

What should I know about buying a recreational property or second home in BC?

A second home in B.C. comes with different tax and rental rules than the home you live in. Only one property per family can be your principal residence each year, some towns charge the Speculation and Vacancy Tax, and short-term rental rules depend on where the place is. Check all three before you buy.

Capital gains. The Canada Revenue Agency lets a cottage or condo be a principal residence, but your family can only designate one home per year, and you must report the sale on your tax return.

Speculation and Vacancy Tax. Vernon, Coldstream, Lake Country, Kelowna, West Kelowna and Kamloops are in the taxable areas; Predator Ridge is specifically excluded. Confirm any address on the Province's map.

Nightly rentals. Land inside mountain resort boundaries, including Big White, SilverStar and Sun Peaks, is exempt from the provincial principal residence requirement. Registration, local bylaws and strata bylaws still apply.

Compare resorts in my B.C. ski resort profiles, and read about second-home financing and the Speculation and Vacancy Tax in Vernon.

Sources: Canada Revenue Agency: Principal residence and other real estate, Province of BC: Speculation and vacancy tax taxable areas, Province of BC: Mountain resorts and the Short-Term Rental Accommodations legislation, Province of BC: Principal residence requirement.

General information only, not legal or tax advice. Talk to a lawyer or accountant.

Can I use one agent to buy in Vernon and Big White at the same time?

Yes. A B.C. real estate licence is issued by the BC Financial Services Authority under a provincial law, so it is not limited to one town. I am licensed for all of B.C. and work in Vernon and at Big White, SilverStar and Sun Peaks, so I can help you with both purchases at once.

One agent can keep both searches, budgets and timelines in step, which helps if one purchase depends on the other. Every licensee owes clients honesty and reasonable care and skill, so the real question is whether your agent knows both markets well.

If you want a resort outside my area, I can introduce you to an agent friend who works there. If I receive a referral fee, I have to tell you in writing. You can check any licensee on BCFSA's Find a Professional register.

Start with my B.C. ski resort profiles, the Big White buying guide and my Vernon relocation guide.

Sources: BCFSA: Agency, your real estate licensee and you, BCFSA: Referrals Guidelines, BCFSA: Find a Professional.