The Real Cost of Living in Fernie, BC

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Rising Costs, Unmatched Lifestyle
Fernie, BC, is known for its breathtaking mountain views, world-class recreation, and strong community vibes. But with an average home price climbing over $800,000 and the cost of living rising faster than many other Canadian towns, can you afford to live in this mountain paradise?

In Episode #50 of The Property Mindset Podcast, host Phil Gadd explores the true cost of living in Fernie. From housing and groceries to transportation and dining out, Phil breaks down the financial realities of life in this vibrant mountain town. Plus, he compares Fernie to other popular destinations like Whistler and Revelstoke to help you decide if this dream town fits your lifestyle and financial goals.

🎯 What You'll Learn in This Episode:

• The current cost of living in Fernie: housing, groceries, and more.
• A comparison of Fernie, Whistler, and Revelstoke for homebuyers.
• Pros and cons of living in Fernie for families, professionals, and investors.
• Practical advice for planning your finances and making Fernie your home.

🌄 Whether you’re a buyer, seller, or investor, this episode offers actionable insights for navigating Fernie’s unique real estate market.

📞 Book a free consultation with Phil Gadd to explore your real estate options

🔔 Don’t forget to subscribe to stay informed about all things Fernie real estate.

👉 Schedule a consultation with Phil today

🔔 Don’t forget to subscribe for more real estate insights and Fernie lifestyle tips!

Show Sponsor: First Tracks Real Estate Group - eXp Luxury

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Episode Transcript

Phil (00:00):
Did you know that right here in Fernie, BC, the cost of

(00:03):
living is rising faster thanmany other towns in Canada.
Whether you're planning to movehere or you live here already.
Understanding these challengesis super helpful.
So in this episode, I'm going tobreak it all down.
Welcome to the property mindsetpodcast, where we explore
everything real estate frommarket trends to practical
strategies for success.

(00:25):
Whether you're a buyer or selleror an inspiring investor, a
seasoned professional, or simplysomeone who loves real estate.
This podcast is for you.
Welcome back to the property mindset podcast, where
we explore the intersection oflifestyle real estate.
And community right here inFernie, BC.

(00:45):
I'm your host, Phil GAD.
today we're diving into therising cost of living in this
beautiful mountain town.
Fernie is known for itsworld-class ski resort,
incredible mountain biking,fishing, hiking, and just an all
round amazing.
mountain town and lifestyle,many dream of.
But as more people discover thisbeautiful gem affordability has

(01:07):
become a serious concern.

(01:55):
So if you considering Fernie asyour next home or an investment,
you need to understand thefinancial implications of
actually living here fromhousing to groceries,
transportation, property taxes,and even dining out.
We're going to uncover what lifein Fernie really costs.
Phony has come a long way fromits early days as a coal mining

(02:17):
town.
Today, it's a thriving hub foroutdoor enthusiasts.
people now working from home.
Tracting visitors and residentsfrom all around the country and
the world.
But with this popularity comeseconomic challenges.
Tourism's a major driver forFernie's economy now.
Has field demand for housing andammenities.

(02:37):
At the same time, it's remotelocation and limited
infrastructure.
He has driven up costs foressentials like groceries and
eating out.
These factors contribute to therising cost of living impacting
both longterm residents andnewcomers alike.
So, what are the key componentsof living in Fernie?
Well, let's break it down.
House prices.

(02:58):
So the average house price isnow hovering around 800,000.
Making it challenging for firsttime buyers and families to
enter the market.
rentals aren't much easier.
If you can actually find onewith a one-bedroom apartment
costing these days.
Over 1200 bucks a month.
Grocery costs being in a remotemountain town means groceries or

(03:21):
often more expensive than inlarger urban areas.
Central's like fresh produce.
And Derry come with Markups.
Transportation.
Well, owning a car in Fernie isa necessity.
gas prices tend to be higher inBC and snow tires are a must.
So you're going to be changingout your tires twice a year.

(03:44):
public transport in these areasare very minimal.
There is a bus service that runsbetween Fernie inspired, but it
is very limited property taxeswhile Fernie's property taxes
are relatively competitivecompared to some BC towns.
They're still significant giventhe high property values.

(04:04):
Eating out.
is a bit of a bugbear of mine,even though I used to own a
restaurant.
So I understand the cost ofrunning a restaurant, eating out
has risen across the board sinceCOVID and inflation.
demand since 2021.
Have really increased the costof eating out.
So let me put it in perspective.
Just before Christmas, there wasfour of us.

(04:27):
We went out for dinner.
and a Ferny restaurant.
We had a great night lots ofdrinks.
the bill came to 260, includinga tip for four people.
So there's five of us.
Into a Sperry, similarestablishment in Calgary just
before Christmas.
And we ate and drank.
to completely full.

(04:47):
the bill came to$190, includingtip.
So you, they can see, uh, anexample between Fernie and
Calgary, so living in Ferniedoes have its undeniable perks,
imagining waking up to stunningmountain views.
Being five minute drive from theski slopes biking trails on your

(05:08):
doorstep.
That's a dream, right?
But these perks do come with acost.
the pros are lifestyle immersedin nature.
You know, I'm lucky enough.
Every morning I walked my dogfor an hour in beautiful,
beautiful, beautiful.
forests, woods rivers.
we have a strong tight-knitcommunity here.
we have increasing propertyvalues that make real estate

(05:31):
here real solid investment overtime.
But there are, there are thecons affordability is a growing
issue.
Young professionals and familiesoften struggled to balance
housing costs and otheressentials.
And there's limited shopping forhousing.
Limited inventory for housingand dining, even though Fernie
does have some incredible diningspots, you don't have the

(05:52):
choices as you do in the majorcities.
So it's just not about whetheryou can afford Fernie.
It's about whether yourlifestyle fits your financial
goals.
So let's put it into context alittle bit.
Let's compare towns likeWhistler and even Revelstoke.
So Whistler.
prices are much, much higher.
the average house price in, inWestland now is over 1.4

(06:15):
million, making it significantlypricier than Fernie.
However Whistler offers manymore opportunities, job
opportunities.
And ammenities.
Revelstoke still slightly moreaffordable.
With Fernie where the averagehome price around 600,000.
So how does Fernie stack up?
Well, Whistler is famouslypricely and housing costs.

(06:37):
Very much suppose Fernie'sRevelstoke on the other hand has
seen recent growth.
And offers a slightly moreaffordable property options and
Fernie.
Yeah.
Each town has its own uniquevibe, job market and lifestyle
factors.
In my opinion, Fernie sits in asweet spot where it's still more
affordable and better links tomajor centers.
and international airports likeCalgary.

(07:00):
So I've been living in Ferniefor 15 years and I've
experienced both the highs andthe lows and the challenges of
the cost of living here.
I remember when we first movedhere and the Canadian.
dollar against the us dollarmen.
Moved going down to, Going downto the states in Whitefish,
incredibly cost effective.
but things have changed.

(07:21):
even back then, I do rememberthe cost of grocery bills.
and budgeting for winter gear,especially with a family of
five.
Putting a lot of pressure on, onthe cost, but despite the
challenges, the lifestyle hereis unmatched.
whether it's the thrill of thepowder day or the joy of
community events that we havehere, like Griz days or war

(07:41):
party, Fernie has a way ofmaking the costs feel.
My opinion worth world.
It's not as easy, but for thoseof us who embrace it, it is
incredibly rewarding place tolive.
So just finally lifestyleoutweigh the rising costs.
In my opinion, like I said, ifyou're an outdoor enthusiast, or
a family looking for atight-knit community with world

(08:01):
class recreation in 30 is verytough to beat.
However, if you're on a tightbudget or seeking abundant job
opportunities with higher pay.
It might be challenging.
So just make sure to plan yourfinances carefully and
understand what you're signingup for.
Ultimately, it comes down toweighing up your quality of life
priorities against yourfinancial realities.

(08:23):
If you prepared.
And the Mount is truly core you.
In my opinion, it's a worthyinvestment.
So what's your take on the costof living right here in Fernie.
Share your thoughts in thecomments.
I'd love to hear about yourexperiences and don't forget to
subscribe, to get notified formore awesome Ferny real estate
content.
So stay focused, stay informedand keep building the property

(08:43):
mindset.