Condo Complexes Near the Blue Mountain Village: North Creek Condos
Blue Mountain is a popular ski resort in the Town of the Blue Mountains, Ontario, Canada, which is located about a 2 hour drive north of Toronto. The area attracts visitors year-round for outdoor activities such as skiing, hiking, golfing, and cycling. This is a great place to buy an income property for use as a short-term vacation rental, due to the high-demand for accommodations near the resort. If you’re considering investing in an income property near Blue Mountain Resort, there are several condo complexes that are worth looking at .
In this blog series, I will be sharing information about three popular condo complexes located near Blue Mountain Resort to consider if you are looking to invest in an income property; North Creek Resort , Chateau Ridge and Mountain Walk.
Let’s jump in…
North Creek Resort
Features
These units are just under 800 square feet located at the base of Blue Mountain Resort at the North Chair lift. There are 9 buildings and approximately 144 units. They offer beautiful views of the mountain and are equipped with modern amenities such as stainless steel appliances, gas fireplaces, and private balconies. The complex has a seasonal pool and hot tub, a tennis court and guest laundry. North Creek Condos are particularly attractive to renters due to their location near the mountain, making them an ideal base for outdoor activities, like hiking, biking and skiing. Georgian Bay and Northwinds Beach is just minutes away. They are located next to the Toronto Ski Club, at the north end of the Blue Mountain resort.
Here are some pictures of North Creek Resort – click here.
Blue Mountain Village Association (BMVA)
The BMVA is a not-for-profit association that was formed to help grow and support vacation rental owners in and around the Blue Mountain Resort. The membership fees that you pay provide you with benefits, such as discounts to local dining and shopping, resort shuttles, a robust social activity calendar which includes bands, events, fireworks, marketing for your rental property and property tax classification of residential vs commercial . You get access to the Blue Mountain Private Beach and some discounts for the Plunge Aquatic Center (pool in the village) and ski passes.
When you purchase a property designated as part of the BMVA you are required to pay 1% of the purchase price on closing as part of your membership. The designation as part of the association is on the property title, and has to be maintained as part of the purchase. When it comes to North Creek, some condos are part of the association, and some are not. It is important to ask when you are considering a North Creek property.
Size
Most of the units in North Creek Resort are 1 bedroom, or a bachelor which is a smaller vacation rental. The smaller occupancy of 4 to 6 guests would likely mean a lower nightly rate for guests, and less revenue for you, but generally these units rent well.
Price and Fees
Compared to other condos around the Blue Mountain Resort, North Creek Resort are often in the lower price range As of this year (2023), condo fees are around $420 per month, which is on the lower end of the range for local condos. In my opinion, they are a great choice as a short- term rental property for the entry-level investor.
HST is “in addition to”, however it can be deferred if you are a HST registrant. It is very easy to apply online. If you are renting out the property you must have a HST number.
For more information on HST please go to https://www.ontario.ca/page/business/start/confirm-HST
When investing in an income property, it’s important to consider the potential rental income and occupancy rates. It’s always a good idea to do your own research and consult with a local Realtor ® before making any investment decisions.
If you are looking for an investment property in the Blue Mountain area, be sure to reach out. I would be happy to help you find the right property, based on what you are looking for. If you are interested in other condo complexes around the Blue Mountain Village, check out Mountain Walk and Chateau Ridge condos as well.
