February 2025

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February 2025 Whistler Market Update

Whistler real estate market update February 2025. From personal experience, I spoke with more buyers in January than I did at the end of the last quarter. The majority were non-residents calling from the USA. The rate of exchange is a 45% discount to our American friends.

  • Sales: In January there were 34 sales.
  • Inventory: There were 255 listings available for sale, nearly 8 months of inventory on the books.
  • New Listings: New listings soared in January by 65% over the previous month to 79 new listings.
  • Market Type: We continue to be in a balanced market. Meaning, there’s no immediate power for the buyer or the seller, that happens in the negotiation.
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4 Types of Investment

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Four Types of Investment Real Estate

4 types of investment property therefore 4 types of tax considerations for non-residents and residents purchasing real estate in Whistler: 1) rented nightly, 2) business income, 3) rented monthly, and 4) never rented.

Next, determine the intent of your purchase, How do you intend to use the property? How often will you use it? Do you need the property to earn revenue and if so how much? Is it an asset class you’ll purchase and never use?

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Property Insurance

painted cliff north end near bus stop
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Never Underestimate the Insurance Process

Never underestimate the process and length of time it may take to get insurance coverage, especially if you’re buying a detached house. In my experience, the insurance agent is most interested in anything that has to do with water: the condition of the roof, the water tanks, the pipes, the plumbing, the water sprinkler system, and any heating system that depends on water. The condition of the wood-burning fireplace and everything connected to it is the second biggest concern for the insurance agent.

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Financing Construction

Sunridge Place view of street and mountains
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How Do You Finance Construction in Whistler?

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 budget of the build.

When are the Funds Released to the Borrower to cover Construction Costs?

In Canada the borrower does not receive a lump sum from the lender in advance of construction. The borrower must inject all their funds into the project before the lender will release the borrowed funds.

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GST: Change of Use

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Change in the Use of Your Property May Trigger GST

This is another complex topic that requires the experience of an accountant. The purpose of this post is to alert the owner that it is time to connect with their Whistler accountant. The author is a real estate agent and not an accountant.

From the Government of Canada’s website, “Changes in the Use of Your Property: When there is a change in use of a property you have, you may be considered to have sold all or part of your property even though you did not actually sell it. The following are some sample situations:

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