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Buying a Northstar home because of its superior quality inside and out, its prime on-the-mountain location
and its breathtaking views are solid reasons enough. But for those seeking further justification, here are some to sink your teeth into.
Baby boomers, those born between 1946 and 1964, are a huge reason why buying into a recreational property today is an extremely smart move. Representing about 30% of the total U.S. and Canadian population and
controlling almost two-thirds of wealth, this group spends big money on resort real estate to diversify their
portfolios and add balance to their lives.
Vacation homes are purchased by those 55 to 64 at twice the rate as those younger than them. By 2001, approximately 20 million boomers celebrated their 50th birthday and each year until 2015, approximately four million more will reach this milestone age. Add to this the characteristic of boomers relishing a balanced lifestyle with a serious focus on maintaining their physical health through exciting and exhilarating outdoors pursuits and you have a substantial group of individuals snapping up the next great resort getaway homes.
Remember Kelowna five years ago? Our potential as the next big attraction in recreational real estate is backed by several solid reasons:
- Kimberley has an established infrastructure, with a town of trendy restaurants, shops and cultural
activities to welcome visitors;
- There are four world-class golf courses in the immediate area (plus two upcoming Gary Player courses), and 11 more within a 1.5 hour drive making Kimberley a premiere golf destination;
- The Kimberley Alpine Resort, in concert with the Town of Kimberley, is in the midst of an expansion with a detailed master plan already five years underway. Resorts of the Canadian Rockies (the owner of the resort) is committed to upgrading resort facilities and equipment infrastructure to bring Kimberley up to the same caliber of offerings as other world-class ski resorts in North America;
- Being located in the Columbia Valley, Kimberley is experiencing an unprecedented level of buyer
interest from the Alberta, Saskatchewan, and BC energy corridor, generating real and sustainable
buyer momentum.
Kimberley's reputation is significantly on the rise with $27 million in development permits issued in 2006, and 132 units started. These numbers are significant, particularly for a city the size of Kimberley. Golf and skier visits are notably growing every year. Pacific Coastal Airlines and Air Canada have several daily scheduled flights to the area from Vancouver and Calgary. While there is still an opportunity to buy low in the Kimberley market, it won't last long. Development in mountain resorts is limited due to environmental and government constraints. Only a privileged few will luck out with a ski-in/ski-out location like Northstar Mountain Village!
Birds of a feather... with the Cranbrook airport expansion, more and more visitors and potential owners are flocking to the area in pursuit of a recreational reprieve. In April 2006, $4.5 million of federal funding for the project was officially announced. As of July 2006, the initial phase I runway expansion was completed and fully operational, enabling commercial and passenger jets from acorss North America to fly directly into Cranbrook. Following on its heels is Phase II, expansion of the airport terminal. Ultimately, a third and final phase will result in direct flights from North America and limited European operations, making The Cranbrook Airport the only international airport in Canada that is within a 20 minute drive from a major ski and golf resort.
Northstar Mountain Village was initially envisioned as a superior product that delivered on its promises and demonstrated proof of its value in the real estate market. The project is no longer just a vision, but rather a nicely established lifestyle development. The rapid sell-out of the Panoramic and Valleyview phases proved just that. Now we are building on our recognized momentum as we move into the final phases. NSMV is the first development of its kind in the Kimberley area that offers the services and facilities available through our Owner's Alpine Club. This central activity centre includes outdoor pool, hot tub, fitness facilities and spa services, snack bar, great room/meeting facilities with catering options/family gathering place, tot lot, green space, and more. Given the confirmed demand for "resort style living, within a resort", we are confident that this luxury townhome opportunity will only accelerate the completion of these impressive and final phases.
The average individual will spend $60,000 on vacations over the next 10 years – doesn't it make sense to invest this money and make a return on your vacations? Fractional ownership, and in our case quarter share ownership, gives you a fully deeded title on a maintenance-free property that you don't need to check in on every weekend. At Northstar Mountain Village, you have exclusive use of your home every fourth week, translating to 13 weeks a year – a sizeable chunk of holiday time that most of us won't indulge in on an annual basis. And the
conveniences don't stop there. Through the Owners and Strata Corporations, the interior and exterior care
of your home will be managed for you, and since you don't need to dedicate the capital investment required for whole ownership, your monies won't be tied up in a single asset.
When you simply can't find the time to get away and enjoy your Northstar home, it's nice to know you can rent it out to those who can. Through Northstar Mountain Vacations, you have access to a professionally managed rental program linked to a number of on-line reservation systems. Rest easy knowing your home is being well looked after with regular inspections and inventory checks in your absence. Northstar Mountain Vacations can also assist you and your guests with vacation planning and information services, and book your next round of golf or make this evening's dinner reservations.
Your Northstar purchase also gives you membership to Interval International, a family-oriented, gold level
international vacation exchange program. Affiliated with over 2,000 international resorts, indulge in taking
vacations in other parts of the world without having to pay for accommodations. Imagine taking the family for a stay at a distinctive castle in Europe, or to a beautiful beach resort during the colder months. This program
is also connected to numerous reputable Hilton and Hyatt resorts.
The possibilities are endless if your corporation invests in a Northstar Mountain Village retreat. Present favoured clients with a stay at a luxury ski/golf resort condo. Encourage sales and performance from employees with the lure of a rewarding week in the mountains. The financial benefits are worthy too: use pre-tax dollars to purchase your vacation property, reducing the amount paid out at a high tax rate; enjoy the capital appreciation of a real estate asset; and receive revenue to offset maintenance costs when you use Northstar's rental management service.
Canada is already a popular destination for tourism and its vacation real estate market is rapidly following suit. Our beautiful nation offers a whole host of spectacular resorts, offering purchase opportunities of high quality, reasonably priced vacation retreats. The Canadian market is also recognized for its hassle-free ownership,
affordability and track record for market appreciation. British Columbia is already one of the top drawing provinces for purchasing fractional ownerships and this trend is anticipated to stay the course for quite some time.
Today more than ever, the Canadian Rockies is a world-class four-season destination. Real estate demands are particularly focused on ski-in/ski-out resorts and European interest is gaining strength with the appreciation of the Euro versus the Canadian and US dollars. Canadian mountain resort real estate is experiencing unprecedented buyer interest, particularly from those living in the UK. Economists suggest that there is no clear indication that this momentum should let up any time soon – in fact, they expect just the opposite.
So "" Because . Waiting any longer to buy a luxury ountainside retreat
with such superior recreational pursuits and an unbelievably affordable price will result in a rare real estate
opportunity missed, and likely never encountered again. To find out how you can purchase an exciting Northstar Mountain Village getaway home, contact your Mountain Home Specialist toll free at 1.877.233.3307 or email us at realestate@northstarmountainvillage.com.
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