Mountain Springs Resort: A Blue Mountain Investment Condo Option and How It Works
Mountain Springs Resort is a 144 unit, slope side development at Blue Mountain that is located next to the Toronto Ski club with direct access to the north chair. It’s still possible to buy units for under $100,000 here so I do get a number of enquiries about this project as you can imagine.
Units here are a little different than a standard residential condominium. Firstly, they have a commercial zoning which means you cannot live in them full-time. Most people use them as an affordable personal getaway and/or they rent them out through either a property rental company or they self-manage rentals. This is a whole other topic as the Town of Blue Mountains has a by-law that governs the renting of accommodations for less than 30 days at a time.
There are several things to learn about these condos from the issue of HST to rental income expectations. This video will give you a bit of an idea of how it all works. If you are looking for an affordable vacation property, this may be worth a closer look.
