When you are searching for a resort home you may be confused by the different terms used to describe the various properties. Townhome, Condo, Chalet, Quarter ownership’s what is the difference? In order to get the property that will suit your needs the best it is important that you know what the terms mean when you speak to your Whistler realtor.
A townhome is any condo-style property that has an exterior entrance to your suite. A condo is more of the type of property that has a common lobby that you would walk into and then head up the elevator and down the hall to your suite. In the condos, there are also other distinctions to be made:
You can conduct nightly rentals of your condo suite in only a few areas of Whistler. These areas are Whistler Village, Blackcomb Benchlands, certain sections of Whistler Creek, Nicklaus North, and a few other spot-zoned areas around the valley.
Of these nightly zoned properties there are three types.
Phase 1: The owner has unlimited owner use or can rent it on a nightly basis. When it’s not being occupied by the owner it must be made available for nightly rentals. Phase 1 suites are mainly townhomes and some of the larger condo buildings.
Phase 2: The owner can only use it 28 days in the winter and 28 days in the summer for a total of 56 days per year. The rest of the time it must be made available for nightly rentals. Of course, if you’re not going to use all 56 days then you just put those days back in the rental pool. Phase 2 buildings are mainly hotel-style condos like the Westin or Alpenglow.
TA (Tourist Accommodation) Zoned: These are homes such as B & B’s and Pensions that have been spot-zoned to conduct nightly rentals.
Chalets are a term we use here to describe a stand-alone house in Whistler or Pemberton. This is the mountain term for a house – probably brought over from Europeans used to that term as it is used in France, Switzerland, Austria, Germany, Italy, etc.
Quarter ownership means title to the suite is split into four quarters so it’s like owning a suite with three other partners that you don’t know. You get to use the suite one week a month with every year rotating so that every fourth year you’ll get Christmas and New Years. This is a relatively new concept for Whistler that was spearheaded by Intrawest Corporation and it’s really taken off. There are currently three quarter ownership complexes in Whistler.
These are several of the most common terms you will hear from your realtor while you’re shopping for a Whistler property. If you want to find the property that will best fit your needs your needs find a realtor who specifically handles Whistler and nowhere else. Someone who knows Whistler and Pemberton from front to back will be able to get you the best deal on the best property for you.
Ranju Kumar an assistant of the website Whistler-RealEstate.com which serves the Whistler real estate markets as well as the communities of Pemberton. Now Whistler-RealEstate.com is providing many proven home buying and home selling tips.
[tags]Whistler real estate, condos, townhomes, Vancouver 2010 Winter Olympics, chalets, realty, realtors, [/tags]
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