So, you’re looking to buy in Canmore, Alberta? How exciting! Canmore is a truly stunning place with a ton to offer. From arts and culture to sports and recreation, the town really does have it all. There are a lot of things to take into account when looking to buy property, and those things may change slightly from place to place. In the Bow Valley, one thing you’ll definitely want to familiarize yourself with is the different types of property zoning. So, let’s dive in.
Residential zoning in Canmore is the most standard type of zoning, it’s when someone buys a home for the purpose of living in it. This type of property zoning is the highest-concentration in the Bow Valley and it includes single-family homes as well as duplexes, four-plies, townhouses, and condos.
These types of properties have very few restrictions when it comes to personal use. You can use this home for full-time living, part-time living, and long-term rentals. The only thing you aren’t permitted to do within residential zoning is short-term rentals which are rentals for 28 days or less.
Here we have the most flexible of the Canmore zoning types. This type of zoning includes apartment-style condos. Zoned for tourism, these homes are permitted for full-time living, part-time living, long-term rentals, and short-term rentals. This means that owners are able to rent their places out nightly or weekly if they wish. While this type of zoning may offer a great opportunity for short-term rental income, they are taxed at higher rates than residentially zoned homes. If the home is your primary residence, though, you can apply to the Town to be taxed at the residential rate.
This type of zoning is fairly scarce in town.
Visitor Accommodation Zoning
Visitor accommodation properties are suitable for folks who aren’t looking for year-round accommodation and who are looking to generate revenue off of their property. This style is typically restricted to 30-days of use at a time and they are allowed to be left vacant when not in use. You are also welcome to put your property in a professionally managed rental pool to generate income. These buildings have front desk management and are usually managed hotel-style. Only short term rentals and part-time living are permitted here.
Employee Housing Zoning
Last but not least, employee hosing. These are essentially residential homes, but they have a mandate that owners must work at least 20 hours per week in Canmore.
If you’re curious where each of these zones are in town, you can check out the Town of Canmore’s map. All you need to do is click on a home and view the “code” to see how it’s zoned.