My siblings and I are looking at buying a condo in or around Banff. We are wondering if there are any good internet sites that will offer us information on the types of properties that are best to invest in. For example, one site says that this property can go into it's vacation rental pool and the property owners (it's part of a hotel) will rent it out for one night up to 30 nights. I'm trying to get an idea of how much rental income we could earn or will this suite (likely a one bedroom apartment) sit empty without any rental income.

I would also like to get an idea of the potential appreciation of value for a one bedroom condo.

Thanks.

I have not got as clue, have never even been to Canada!

But I have looked into this type of investment in Australia and the fees for vacation let were staggering. So find out what the average tenancy is, over 70% is considered ok. Then divide by 2 the value to see what you get! Not much usually. But sometimes ok.

Though I post this following message to keep in the forum parameters.

Some timeshare type exchange places allow you to exchange unused time in your second home so to speak for accommodation the same way timeshare owners do. So it could be a good investment if you have a local exchange company that does this so you can holiday all over the world for very little outlay. Exchange your low vacancy weeks for a week in Spain or Italy or down under

Needs research though. Just highlighting a holiday option as it is a travel forum.

Banff is in a National Park and the rules for ownership in a Nat'l Park are different than in other places. Youi might want to check that out before purchasing (that is, if you can even find something to purchase, there are many restrictions on building and development - which usually means that demand outstrips the supply by a huge amount).

On the other hand, the town of Canmore is a short 10 minute drive from Banff, and right outside the park gates, and has oodles of new places available. Beware - most of them are very expensive and are getting more expensive by the minute.

Here are a couple of websites so that you can start your search:

http://www.albertarelocation.com/
http://www.shopinbanff.com/Real_Estate/Realtors/

Sorry - you can't purchase a dwelling in Banff National Park unless you work in the area. Even then, you can only lease the land.

Canmore is the closest town. It's 10 minutes outside of the park gates -- situated in the Bow valley.

You can buy property in Canmore, and many people have clued into that fact.

Because there are limited opportunities for development in the area, prices should appreciate steadily.

If you're seriously looking to buy, don't procrastinate too long. We did (I was working briefly as a reporter in Banff in the mid-1990s), and we missed the boat. A small A-frame cabin was selling then for over $200K (Cdn).

Hope that helps.

The property that I was looking at is in Canmore. I'm wondering though, if it is a bigger risk to invest in a vacation rental. I would be building equity while simultaneously earning income renting it out similar to a hotel to people vacationing in the area. I am wondering how full a place like Canmore gets in the summer and winter high seasons with tourists. (This question really does relate to a travel forum since it is a vacation rental type of property and the success of the investment is directly related to how popular of a travel destination a place like Canmore is).

Thanks.

Canmore, as I mentioned in my earlier posting, is on the eastern gate of Banff National Park and only a 10 minute drive away from Banff townsite, so it is within easy access to all the touristy places, and is busy in summer and in winter (the Nordic Centre in Canmore is where the cross-country skiing events were held for the 1988 Winter Olympics). I'd say the two slowest months would be November (before the ski season starts) and May (after spring skiing but before warm summer weather).