How to Purchase

Purchasing a BHC home

Home   >   Ownership   >   How to Purchase

The Banff Housing Corporation (BHC) manages an inventory of diverse home ownership properties that are bought and sold to eligible Banff residents on the Registered Resale List (RRL). The ownership program allows Banff residents to live in long-term, secure housing.  The portfolio includes 216 ownership properties encompassing 1-bedroom apartments to single family homes.

  • 32 Single Family Home
  • 63 Townhome
  • 78 Duplex
  • 43 Apartment 

All residents who purchase a BHC home must agree to and follow the terms outlined in their Sublease Agreement. This agreement includes key conditions such as occupying the home as their primary residence, meeting Banff National Park residency eligibility requirements, following the resale process, carrying appropriate insurance, and complying with strict regulations regarding the rental of the home. These properties also have restrictions on the maximum resale amounts to maintain perpetually below market valuations for future buyers. These requirements ensure BHC housing serves its intended purpose — providing resident-occupied homes that support the Banff community.

The BHC has implemented a unique Sublease Agreement, whereby the original homeowner pays for the cost to build the home and BHC restricts the maximum resale valuation of the property under one of two resale models to maintain below market resale values for future buyers:

  1. Equity Share: These properties are based on an equity split between the homeowner and the BHC. The homeowner equity ranges from 64.6% to 86.8%, and the BHC retains the remaining equity. The future resale value of these properties is determined by a formula using the current appraised market value and the homeowner’s equity percentage.
  2. Price Restricted: These properties are sold at 20-30% below-market. The resale value is capped at 2% per year (maximum) based on the current owners purchase price.

The sample sublease agreements below are for general information only. They provide an overview of the typical terms and conditions homeowners can expect but are not exact versions of any specific agreement. Prospective buyers should review the actual Sublease Agreement in full with their solicitor before purchasing a BHC home.

Generic Price Restricted Sublease Sample

Generic Equity Share Sublease Sample

Buyer's Information

Buyer's Information

Waitlisted applicants can prepare for an ownership opportunity by reviewing the BHC Buyer’s Guide to understand the sales process and timelines. Applicants are encouraged to speak with their financial lender and seek legal advice before purchasing a BHC property.

BHC Buyer's Guide

Acknowledgement

In the spirit of respect, reciprocity, and truth, we honour and acknowledge that the townsite of Banff is located on traditional Treaty 7 territory. These sacred lands are a gathering place for the Niitsitapi from the Blackfoot Confederacy, of whom the Siksika, Kainai, and Piikani First Nations are part; the Îyârhe Nakoda of the Chiniki, Bearspaw, and Goodstoney First Nations; the Tsuut’ina First Nation; the Métis Nation of Alberta, and many others whose histories, languages, and cultures continue to enrich our vibrant community.

We are grateful to those whose territory we reside on and acknowledge the many First Nations and Métis who have lived and cared for these lands for generations.