Buyers

Why Buy
With Lance?

When buying a property, you want nothing left to surprise. You can rest assured I will provide you with accurate, honest answers to all of your questions, and I will explain all of our real estate terms and practices so you feel comfortable and confident every step of the way. We will screen and view properties until we find the right one for you, as well as estimate transaction costs and establish your range of affordability. I will provide you with every service necessary to make your transaction a pleasant and worry-free experience.

About the Whistler Market

There are very few of us Whistlerites who do not believe that investing here is a wise decision. It may sound as though we are biased, however, it is founded on sound business principles, as well as a decision to choose the lifestyle that Whistler has to offer. The Whistler market is thriving and continually gaining momentum compared to other areas of Canada. Whistler is all about the mountain lifestyle and quality of life; the fact that it’s a good real estate investment is a bonus!

The Whistler Market is made up of chalets, condos, duplexes, and townhouse units. Condos are further divided into Phase 1 (unrestricted) and Phase 2 (restricted) units.

Phase 1 units are usually one and two-bedroom condo units generally found in “lodge” type buildings. There are no restrictions on owner usage, but organized rental programs are available for those times when the owner is not using the unit. Phase 2 units are generally studio, one and two-bedroom condos incorporated into an ongoing hotel operation. The owners’ number of days for personal use is restricted, but benefits include revenue, potential tax shelter, and various hotel services and facilities. This type of unit is best suited to the occasional visitor to Whistler or for the investor interested in revenue only.

Additional Information

Property Transfer Tax

A Provincial Government tax applies on all transfers of real estate and is payable on the completion date. The transfer tax is 1% on the first $200,000 and 2% on the balance of the purchase price up to $2 million, then 3% on the amount exceeding $2 million).

Legal Fees And Disbursements

These are the closing costs paid to a lawyer or notary to complete the transaction on your behalf. The exact amount of these charges will vary, but they generally range from approximately $600 to $1,000. When asking for a quote, it’s important to ask whether the quote includes all expenses to complete the transaction.

Goods And Services Tax (GST)

GST is a 5% tax that applies on the purchase of new construction and on the resale of accommodations that have been rented for short-term/nightly rentals. The payment of GST can be deferred if the buyer intends to rent the property and becomes a GST registrant.

Tourism Whistler Fees

These are quarterly fees payable to the Whistler Resort Association and are calculated based on the number of bed units present and the use of the property. Should you use the property for personal use and don’t rent it for more than 14 days per year, you may file a declaration to pay a lower fee. For more information about bed units contact the Whistler Resort Association at 604-932-3928.

Insurance

Purchasers will be required to arrange insurance on single-family residential accommodations. While strata properties already have the insurance in place, purchasers should always maintain liability and contents insurance.

For Non-Resident Buyers, we recommend using Custom House Global Foreign Exchange, North America’s Largest Independent Foreign Exchange Company. Using these services will protect against funds arriving late, better than bank exchange rates, and a generally seamless process. The entire settlement will occur in only 1-3 days, getting your payment where it needs to be so you can own the property of your dreams.

Contact Information:

Custom House Global Foreign Exchange
Vancouver Office,
576 Seymour Street,
Vancouver, B.C. V6B 3K1,
Canada.

Phone 604.482.6000
Fax 604.482.6011
Toll-Free 1.800.350.6001
www.privateclient.customhouse.com

Michael Barker-Fyfe
Cell 778.836.3823
mbarker-fyfe@customhouse.com

Buyer Guide eBooks

Purchasing a Whistler or Pemberton property can be exciting, but stressful – particularly if you are not familiar with our local real estate market. My goal in creating this guide specifically for Whistler/Pemberton area purchasers is to help inform and educate you about the property-purchase process. I hope you will feel confident as we work together towards the purchase of your dream property.