People often ask me “What is different about buying and selling property at Big White different than anywhere else?”
And honestly, there are so many things about buying and selling at Big White that are different from buying real estate elsewhere. Things like leasehold properties, rental pools, and being a non-resident versus resident of Canada.
I thought it would be helpful to go through the Top 10 things in my opinion that I always share with my clients.
- GST – Did you know?
Even if GST was paid when a property was originally purchased, it can become applicable again depending on how the current owner has used the property.
This is one that can catch people off guard, so it is important to understand the history and use of the property before you make an offer.
- Leasehold properties at Big White.
Yes, there are 200-year leasehold properties at Big White. And no, they are not First Nations leases.
There are 200-year leasehold properties at Big White, and understanding what that means for financing and resale is important before you buy. It is something that buyers should be aware of prior to an offer.
- Rentals, rental pools & covenants
This is a big one.
Not every building has the same rules when it comes to rentals. Some have rental pools, some have restrictions and some have covenants that can affect how you use your property.
If rental income is part of your plan, don’t just look at what the property rents for. Look at what you actually net and make sure the building’s rules work for what you want to do.
- What exactly comes with the property?
At Big White, the expectation is generally that properties are sold completely turnkey.
But “turnkey” needs to be clearly defined in the contract.
Furniture, kitchen items, linens and all the little things that make a property ready to use can add up to a lot. Make sure you know exactly what is included before you sign.
- Buying as a non-Canadian
This is one of the great things about Big White.
It is one of the few places where non-Canadians can purchase because Big White is exempt from the foreign buyer ban. There is also no foreign buyer tax, no speculation tax and no empty home tax.
GST and property transfer tax still need to be considered and addressed in your contract, just as they would for a Canadian buyer.
- Selling as a non-Canadian
This is something you want to understand before you list.
When a non-Canadian sells Canadian real estate, there can be a holdback of funds until the appropriate clearance certificate is obtained.
You don’t want to get to closing and discover that the amount you need to complete your transaction isn’t what you expected.
I always recommend having the conversation with your Realtor, accountant, lender and lawyer before you list so there are no surprises.
- The best month to buy?
May.
The mountain is changing seasons, things are quieter and there can be some interesting opportunities for buyers who are paying attention.
- The best time to sell?
October through January.
That is when Big White starts getting busy again and people are thinking about winter, skiing and having their own place on the mountain.
- The best restaurant at Big White?
All of them.
I really don’t think I can pick just one.
- The best non-skiing activity?
Trail running or hot tubbing, depending on your energy level and the time of day.
BONUS. And the best ski run?
Bumpy Alley.
Obviously.
In Conclusion, many small details make buying and selling at Big White different. Some are fun. Some are important. And some can have a real financial impact.
These are the things I think buyers and sellers should be talking about — not just how many bedrooms a property has or what the view looks like.
If you’re thinking about buying or selling at Big White, I would love to talk — contact me here.
Choosing an area of the resort is also imperative for both personal pleasure and when renting. Being in or close to the Village is a valuable asset for any property. Many people visiting the resort like to have immediate access to all amenities whether that is in Happy Valley or the Village centre. Speaking of amenities, if a condo is what you are after, comparing each complex’s amenities is important and will affect rental potential. You could go all out and enjoy Stonegate’s amenities which include indoor/outdoor pool, movie theatre, game room and much more. Or if you are looking for a more cost effective strata, a complex such as the Whitefoot lodge may be more ideal.
There is more than biking and hiking at the resort too. You can play a round of 9 holes at the disc golf course (which is free!), attend the 
Homes in Kelowna are spending more time on the market than last year but still averaging just 53 days. I believe this will not waver too much and will remain under the 60 day mark for the summer. A few months ago the average home price dipped under one million, but the past few months we have seen it climbing again. April hit $1,083,027, a number I believe will keep climbing but not at an alarming rate as we saw last year.