Investment Properties

Big White Real Estate is on Par With The Rest of BC

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Big White Real Estate is on par with the rest of BC. You have likely seen in the news that the real estate industry in British Columbia, specifically the Interior, is breaking records. It has well exceeded many peoples expectations. Big White Ski Resort‘s real estate market is no exception.

For instance, January 2021 sales took a 35% increase from January of 2020. Sales from $99,400 to 1,540,000 took place in January with the transactions totalling over $12 million dollars. This created an average sale price of $531,670, a slight increase from January 2020’s average sale price of $501,588.

Big White Ski Resort Real EstatePeople are flocking to the resort to purchase vacation rentals for themselves and their families as well as purchasing investment homes to provide revenue. There are many options for whatever you are looking for in your Big White Ski Resort property. Whether it’s a lot for building your dream chalet, a commercial investment up to $10 million, a studio or anything in between.

From my office I get to see the bustle of the Village and the excitement that runs through the resort on the daily. There is no better time than now to get outside and enjoy everything this beautiful mountain has to offer.

This year, the resort has spent copious amounts of time and money ensuring they are following all new government protocols. I believe they have done an incredible job in keeping visitors and locals safe all seasons long.

If you are curious about stepping into the Big White market or ready to sell your lovely ski abode, contact me today and we can talk about your options. Now may be the best time for you to LIVE WHERE YOU PLAY!

Big White Real Estate Update – September

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Big White Ski Resort is skiing right into nearly 45 million dollars worth of real estate sold thus far in 2019! The third quarter alone brought in 19 million dollars, up slightly from the third quarter of 2018 which saw 17 million dollars in sales. Sales were especially strong in September as we saw 20 properties exchange ownership, an increase of  25% from September 2018. The number of listings currently at Big White Ski Resort sits at 125, which if compared to the same time last year, is up 30%.

September’s average sale price at Big White Ski Resort for 2019 is reported at $446,057. Going back to September 2018, it was reported at $380,344, quite an impressive increase. However; if we go back ever further, to September 2015, the average sale price was just $169,475!! So it just 4 short years, the average sale price has increased by a massive 163%! Talk about an impressive investment!!

The fantastic thing is that $446,057 is the average price, meaning you can purchase a property for far less, or far more depending on your budget. Currently the lowest priced listing at Big White Ski Resort sits at $94,900, UNDER $100k! If your budget is a bit more generous there are listings as high as $3,988,000 and $5,295,000.

Ready to take the jump and invest at Big White Ski Resort? Contact me to get started!

Big White Real Estate Update – August

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The summer season at Big White Ski Resort has come to an end and what an incredible summer for real estate! Summer 2019 brought many new buyers to the mountain from all over the world and the summer events allowed investors to continue renting their investment property year round.

10-255 Feathertop Way

As we know from the past few months, the average sale price at Big White Ski Resort has seen quite a dramatic increase. June through August of this year showed an average sale price of $463,176, which is an increase of 25% over the same time last year even though there were slightly less overall sales.

During the month of August we saw 33 new listings hit the market. From lots starting under 100k to luxury million dollar chalets the range of property available is vast. Properties are selling slightly quicker than last summer with an average days to sell statistic of 101 during the summer months (June-August), an approximate decrease of 12% from 2018.

Now who is ready for the winter season to start?! Only 84 more days!

Don’t miss the opportunity to purchase your dream mountain home or to sell that investment property!! Get in touch with me today for a complimentary market analysis or to receive new active listings within your criteria!

BUYING A RENTAL AT BIG WHITE– WHAT YOU NEED TO KNOW

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Are you thinking about buying a rental property at Big White? Do you have all the information to make an educated decision? Here are a few of the must knows when buying a rental:

 1. Some stratas have rental restrictions. These restrictions all differ in each complex and can limit how many units in the complex can be rented at one time, limit which age the renter must be, or how many days the unit can be rented per year. The rental restrictions can be found in the strata bylaws.

2. When it comes time to sell your rental property, you may be subject to pay GST. This is something you must discuss with your accountant.

 

3. Be aware that your lender may require different criteria. Some particular lenders will require you to put 25%-35% as a down payment.

4. There are multiple outlets to rent your home through. There is AirBnB, Rent Chalets, Central Reservations and more. Each of these outlets offer something different, from self managed to fully managed, so do your research as to which one will suit your requirements the best.

Do you have questions about purchasing a rental property at Big White? Contact me and we can chat more about all the benefits and things to watch out for! Joan Wolf at 778-231-0308!!