What are the qualifications for purchasing through the Whistler Housing Authority?
All applicants must be of legal age, Canadian citizens or landed immigrants, must be qualified employees or retirees, and must be pre-approved for a mortgage. Employees must work a minimum average of 20 hours per week within Whistler. A retiree is someone who was employed in Whistler for five of the six years prior to ceasing employment. Applicants or their spouse must not own, either personally, jointly or indirectly through a trust or business assets, any real estate anywhere. For additional qualifications, please download a copy of the Waitlist Guidelines and Purchase Application, available under the Purchase section on this website.
What do I need to do to get on the WHA Purchase Waitlist?
If you qualify under the Waitlist Guidelines and you have been pre-approved for a mortgage, you can fill out an Purchase Application. This Application is a legal statutory declaration and therefore you need to have it notarized (can be done free of charge at the WHA Office at 325-2400 Dave Murray Place in Creekside). As well, we need proof of citizenship or landed immigrant status and proof of employment in Whistler. You are also required to be pre-qualified for a mortgage that reflects the price range of the type of unit for which you are choosing to be waitlisted. You may specify more than one type of unit, but your mortgage prequalification should be for the most expensive unit. The Purchase Application can be downloaded from our website under Purchase, or you can pick one up at WHA's office. There is a $50 application fee to register and the onus is on the applicant to inform the WHA of any changes to the applicant's contact information.
How do I find out which resident restricted units are for sale?
Once you are on our Purchase Waitlist, we will contact you when a unit comes available for purchase. Applicants are prioritized on a first-come-first-serve basis. You can view the Calendar of Open Houses under the Purchase section to see when open houses are scheduled for available units. Visit the Properties Listings section of the Purchase webpage to view restricted units that are available to purchase.
How do I find out what price to offer for a unit?
The WHA calculates the maximum resale price using the covenant formula, and advises vendors and the purchaser of this price. You can also view the Historcial Resales under the Purchase section to see what other units have recently sold for.
What type of restrictions may apply to the resident restricted units available for purchase?
There are some units that are only occupancy restricted, which are required to be occupied by either a Whistler employee or retiree. There are also units that are both resale and occupancy restricted, which must be occupied by a Whistler employee or retiree and the resale price of the unit is controlled by the Whistler Housing Authority.
Once I buy a resident restricted unit, can I stay on the Purchase Waitlist?
Yes, but your name will be moved to the bottom of the waitlist when you purchase a unit.
Why is there a resale cap on the resident restricted units?
In order to maintain a stock of more affordable housing in perpetuity for Whistler resident employees and retirees. The object is to start it lower and keep it low. The WHA calculates a maximum resale value for every resale restricted unit. Depending on the unit, the resale appreciation is either tied to the Royal Bank of Canada prime lending rate, the Greater Vancouver Housing Price Index or the Canadian Core Consumer Price Index. All resales and future developments maximum resale value will be tied to Core Consumer Price Index. If the units did not have resale restrictions, they would eventually become the same price as housing in the private market due to demand.
How many resident restricted units exist in Whistler?
As of 2015, there are 871 price restricted ownership units and 232 WHA managed rental units. In total there are 1,915 units (6,204 beds) including owned and rented units that form Resident Restricted Inventory in Whistler.