Calgarians and Edmontonians have long been committed to vacationing in the Rocky Mountains. Many generations of families have jumped into their cars and driven to the mountains for a weekend of skiing, a summer of hiking, and so on. Cramming into the car for a weekend getaway or a weeklong family vacation has long been a great way to balance the busyness of city living in Edmonton and Calgary.
Banff, Lake Louise, Canmore and Jasper are the most prominent destinations. There are many pros for each of these spots. Ever since the Calgary Olympics in 1988, one of those destinations has grown in leaps and bounds, a town that we will focus most of our attention on, Canmore, Alberta.
Best Vacation Home Areas
Canmore
We will dive right into the town that we believe is the best investment for a vacation property in Alberta. Canmore is nestled in the Bow Valley, long overlooked as people drove to Banff over the last 50 years. The truth is this: people fall in love with Banff and then discover that they can only buy a property to vacation in Canmore. Similar breathtaking Rocky Mountain beauty, with more of a community, feels less touristy and has more amenities to serve the town. Fifteen minutes to Banff means that Norquay is very close for a ski day; Sunshine Village is 30 minutes away. This is a great location.
Canmore has become the wealthiest town in Alberta. Regarding a solid real estate investment in Alberta, it is Canmore. 1/3 of the population are weekenders and seasonal residents. In translation, these are wealthy homeowners in Canmore who care about the land and the governance and know how to take care of their homes, leaving a pride of ownership year-round. All of these factors lead to a more stable investment.
The drive time from Calgary to Canmore can be an hour. If coming from the Calgary airport, it is an hour and fifteen minutes. Those driving from Edmonton can expect a 4-hour dive. Interestingly, that is the same distance for someone in Edmonton to go to Jasper. It’s no wonder that both towns divide the Edmonton vacationers. That being said, we touch on why Jasper is not an easy place to buy in and Canmore is a rock-solid option a little later in this post.
Canmore has many investment opportunities, from mountain chalets, downtown duplexes, condos (strata), hotel condos, and vacation properties that can be rented out when the owner is not in town. You cannot do this in the other towns listed below.
➤ For more information on Canmore real estate, check out:
- Canmore Neighbourhood Guide
- Investing In Canmore Real Estate
- 8 Tips When Buying An Investment Condo In Canmore
- Why You Should Buy A Vacation Home In Canmore
- Buying An Investment Condo In Canmore
- Looking To Buy In Canmore?
Jasper & Banff
As much as Jasper and Banff are fantastic places to visit, you cannot own a vacation home or condo in either town unless you need to reside in Jasper National Park or Banff National Park. This makes Jasper and Banff excellent destination spots for visitors, but unfortunately, short-term rentals are the only option for those who do not have a job in Jasper and Banff.
Lake Louise
We love how remote Lake Louise is, and it’s a beautiful little hamlet. However, this is a tourist and ski destination. You are limited to hotels and hostels. There is no opportunity to invest in a home. That said, it’s only an hour from Canmore, 2 hours from Calgary and 4.5 hours from Edmonton. Are you seeing why we believe Canmore is such a great place to invest in a vacation home?
Whether driving in from Calgary or Alberta, Canmore touches all the bases: excellent lifestyle, community, scenery, activities, rock-solid real estate investment, and ease of international travel. Most notably, can you think of a better place to set roots? Imagine a lifetime of enjoyment in our Rocky Mountains!
