The housing crisis across the nation keeps making headlines but few are talking about the safe haven that is Canmore. As seen in previous times of rising rates, real estate in Canmore holds steady when the economy ebbs and flows. Why? Because buyers here are seeking something different – and Canmore delivers. Let’s take a closer look at why buying in Canmore is a smart choice when interest and inflation rise.
Not Your Typical City
Major cities in Canada are designed to draw and hold a young and active working crowd. They are full of developments with starter homes, duplexes and single family dwellings. These developments are close to major commuter routes, big box retail complexes and grocery stores. The whole idea is to be convenient for work, school and shopping.
Canmore is different.
People come to Canmore because they seek work/life balance. They want a getaway from the everyday where nature is the first thing they see when they open the blinds. They want a slower pace of life but access to a vast outdoor playground. They want less big box brands and more boutique shops and services.
Many people that buy real estate in Canmore are purchasing their second or third home, so they already have real estate equity or are on the real estate ladder. This cushions the extra points of monthly interest. However, Canmore is ideal for first time home buyers too.
Why Buy Your First Home in Canmore?
Canmore has a lot of condo developments that are ideal for first time buyers. Condo prices are lower than single family or vacation homes, and the condo fees take care of maintenance. This makes for affordable, easy living where you don’t have to cut the lawn or save for roof shingles. These modern, bright and airy condos are constructed to be quiet and managed to be clean and safe. They are roomy and can have the square footage of a smaller single family home, including features like a den (makes a great home office) or amenities in the building such as a pool or gym.
The Big Shift in Thinking and Lifestyle
COVID caused a big real estate boom in Canmore since people learned they could have it all – a beautiful home in a place that honours nature, and work from home so they could still earn a living. Some people retired early and made Canmore their home base. Others bought vacation homes in Canmore since they could not travel out of the country. Many rediscovered that life could be balanced among family, fun and work when they live in an ideal location.
COVID restrictions may have eased but the market in Canmore continues to thrive. Its protected areas mean that it will never lose the nature-forward focus and the many small shops and services remain the heartbeat of the city.
As interest rates rise and housing becomes scarce or unaffordable in the major cities, Canmore remains a place where dreams of home ownership – and a truly balanced lifestyle – can still come true.
Whether you are looking for your first home, a vacation home or just have questions about living in Canmore, turn to Lori Mitchell and Alex Kocian for help. Experienced agents that live and work in Canmore are waiting to assist you.Posted by Alex Kocian on