For Haji, for example, the opportunities for their generation are much greater than his parent’s.
“My parents were immigrants to Canada. They came to Canada to provide their children with the best possible opportunities in life,” says Haji.
“They worked hard to provide their kids (us) with an education and experiences to appreciate life and to work hard to succeed.
“Unfortunately, they never had the opportunity to enjoy a recreation property. My parents focused their time on providing for their family.
“Our holidays consisted of driving to Vancouver to visit family as we could not afford to fly.
“Fortunately, my family and I have had the great fortune of being able to purchase a recreation property. We wanted something of quality and something that would allow us to spend more time together as a family.”
Some of the other differences between the two generations that have stemmed from the diverse population and the ease of communication everywhere are the fact that Gen X people are “citizens of the world,” says Adams, who is cofounder and president of Environics Group of Companies that specialize in research and communications consulting.
“They are more adventuresome in everything from food fusion with flavours from around the world, to clothes, so they need to be designed differently.”
In turn, that may influence the look of recreation property in the future — and may even mean fewer buyers.
“I have a sense that kids may not want to own as much. They can rent and then are free to go anywhere else in the world.”
One of the biggest changes is the families of the future, he says.
“One of the huge social revolutions is the deferring of having children. Grandma had children when she was 18 or 20; Mom had hers at 22; now the Gen X kids are waiting to have children in their 30s — and they are progressively having fewer kids.”
That, too, could reflect the future of recreation property, with the older Gen X buyers now looking for kidfriendly space.
Even though this age group has that “whimsy” that Adams refers to, once families are expanding there’s an evolution from “bohemian” to “gentrification,” he says.
“They are thinking of property as an investment.”
That is the case for Haji, especially because he is an alternative investment adviser. “I am buying for both enjoyment and investment. I tend not to make purchases (outside of my vehicles) without considering it as an investment and the potential for upside in price over time.”
And Canmore was the perfect venue.
“Prices on recreation properties have come down significantly from the peak prices of 2007 and we felt it was a good time to invest. Canmore seemed like the ideal location due to its proximity to Calgary.”
Mountains loom over the Timberline Lodges development by Alpine Homes in Canmore.
The interior of one of the homes within the project.