What to Consider Before Buying a Home in a Resort Town

Millions of Canadians and world travelers flock to the many resort towns nestled in the mountains of British Columbia. From the ultimate skiing adventures in Whistler to the healing warmth of the Radium Hot Springs, there are many incredible places to discover. Resort towns cater to visitors and residents alike, but what is it really like to live full or part-time in one of these unique places?

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Resort towns may seem to be picturesque and a place where anyone would want to live. However, you need to know more about a resort town than the specific services it has to offer to tourists. When you work with professional real estate agents you will be able to gain a better overall understanding of life in a resort town.

Buying a permanent or vacation home is a huge expense and needs to be contemplated carefully. Let’s take a closer look at a few things to consider before buying real estate in a resort town.

Your choice of resort town will depend on what you are expecting to find. If you enjoy winter sports, you may want to find a home near a skiing resort. If you are looking for more of an all-year resort town that offers something for everyone, you may want to choose a spot in the Okanogan Valley.

It’s important to keep in mind that many resort towns have swinging seasons, meaning that they only cater to tourists part of the year. When considering buying a home in a seasonal resort, you may want to visit during the off-season to see what life is like when business is slow. There may be limited services and amenities during the off-season.

You can expect to pay premium prices in areas with a high level of tourism, especially in remote areas or places that serve a seasonal crowd. Many businesses inflate their prices because they only have a short season to make a profit for the year. You may find that the general cost of living is much higher in a resort town. You should be prepared to pay premium prices for things like gas, groceries, and entertainment.

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Taxes in resort areas are generally higher than average. While the tax burden may seem excessive, full-time residents of resort areas also enjoy a variety of services that are meant to keep the tourist population coming back for more. Infrastructure costs in resort towns can be high due to the influx of traffic during the busy season, meaning that more maintenance is often required adding to the cost of taxes. The plus of paying higher taxes is that most resort towns have premium services, clean streets, and upgraded infrastructures.

New resort towns pop up every year in every corner of the province. If you are shopping for a resort home, you need to be careful about fluctuating markets. Newer developments may have an initial demand for homes that inflates the price of real estate. However, there is no way to tell how that market will fluctuate once the area is established. Be wary of popular trendy areas, and choose a place that has been populated for at least a few years with home prices continually increasing.

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Living in a resort community is a dream for many people. If you are thinking about buying a home in a resort town, consider these factors to help you make the right decision for yourself.

Published in: Smart home | Author: Yanita