Marion Anderson

How do I finance construction?

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There are two components to financing a house build in Whistler, #1 the cost of buying the vacant land or land with a tear-down house on it, and #2 determining the construction cost of the build.

In Canada the borrower does not receive a lump sum from the lender in advance of the construction. The borrower must inject all their funds into the project before the lender will release the borrowed funds. The lender controls the draws ensuring the build has enough money to complete at every draw. Based on the budget any overruns need to be covered by your own funds, as the loan cannot easily be increased mid-flow.

June Whistler Market Update

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Let’s talk sales. In May of 2022, Whistler recorded 168 listings and 51 sales. Low inventory was the topic of the day.

In May 2024 there were 336 listings and 46 sales. In May 2025 there were 319 listings and 45 sales.

So, in summary when you look at the month of May, since COVID, Whistler has seen the inventory double and only 10% fewer sales.

Greater Vancouver is reporting a 19% drop in sales for May 2025 over the previous year, stating that the sales are more in line with May 2019 and 2020 numbers.

So Whistler is on trend with last year and it looks like the increase in inventory has saved the Whistler market from dropping to the levels of the 12 sales recorded in May of 2020.

Do non-residents pay UHT on a quarter-share?

I own a quarter-share in Whistler, do I pay Underused Housing Tax (UHT)? Yes! The quarter-share property has one freehold title, which is divided into four shares termed sub-leases. The non-resident owner of each quarter-share must use the property for 28 days to avoid paying a penalty.

Now this is where it gets interesting. Should one of the owners buy out one or more of the other three sub-lease owners in the same title or deed, the UHT requirement for that person stays at 28 days. For example, 101 A, B,C, and D, the owner of Unit 101 A and B is now the same non-resident. But, only 28 days of usage is required not 2 x 28.

Do non-resident Canadians pay UHT?

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Do non-resident Canadian citizens pay Underused Housing Tax (UHT) on their Whistler property? Well, regardless of where you live in the world and how long you’ve lived there for UHT purposes you’ll be recognized as a Canadian citizen, rather than a non-resident. Therefore, you are exempt from the UHT penalty.

However, in order to qualify for the status you need to have your personal name on the title. You cannot be a Canadian citizen who owns the property in a company name, and expect the same relief.

Do buyers pay GST on a phase 2?

Let’s talk about GST and a hotel-condo, for example, the Westin, known in Whistler as a phase 2 Property. Owners of a phase 2 can use the property for personal use up to 28 days in winter and up to 28 days in summer, but when it’s not in use it must be available to be rented out.

There’s no residential zoning in a phase 2 covenant, and with 56 days of personal allotted allowance, the phase 2 property can never be used as a residence. Therefore, this can make it a little tricky to secure financing. This property is listed as GST non-exempt, and the buyer will automatically defer the GST.