Memories of family vacations in B.C.'s scenic Columbia Valley still tug at the hearts of Albertans looking to own a piece of recreation property.

Nestled between the mighty Columbia River and Kootenay National Park, the Columbia Valley is a year-round alpine playground for outdoor enthusiasts and families alike. From winter snowboarding, cross-country skiing, snowshoeing and ice skating, to whitewater rafting, kayaking, golfing, hiking, biking, lake boating or river canoeing, the valley is a vacation retreat for those wanting to do it all or simply get away from it all.

"So many of our owners say they used to come to Radium when they were kids," says Valerie Bracken, sales and marketing co-ordinator for True Key Resorts, developer of Bighorn Meadows Resort, a luxury vacation and fractional ownership resort in Radium Hot Springs, B.C.

She says 85 per cent of the company's fractional homeowners are Albertans. "Now they're coming back to their carefree youth with their own families."

Luxury fractional resort real estate is an increasingly popular way to experience the comforts and amenities of resort ownership at a fraction of the cost of owning a second home.

"Fractional ownership is not so out-priced that families can't afford to own a second home," says Bracken, explaining the difference between fractional ownership and owning a time-share. "This is a piece of real estate and you are registered on the title. It holds its value just like a piece of real estate would."

She says B.C.'s incoming harmonized sales tax (HST) makes this is a good time for anyone looking to buy a vacation home. Recreational property bought on or after July 1 will cost an additional seven per cent in tax. "We're seeing an upward swing in property prices in the Columbia Valley, and our prices are the lowest they have ever been."

Bighorn Meadows is flanked by mountain ranges with several lakes minutes away by car. The resort is surrounded by 17 golf courses and seven ski hills, all within a two-hour drive. The national mineral pools at Radium Hot Springs are a 10-minute walk away.

The nine-acre (3.6-hectare) development, which opened in 1999, comprises eight separate hotel-condominium style units, each with 12 vacation home units. Each unit features high-end furnishing and fixtures, designer-quality dishes and bedding, granite countertops and jetted tubs.

"We call them vacation homes because they are exactly that ... no spring cleaning, no weekend yard work. Our owners visit their vacation home to spend their time vacationing." True Key Resorts offers on-site maintenance, housekeeping and rental management.

She says Bighorn Meadows owners range from retirees who enjoy vacationing closer to home in Canada to families looking to enjoy the mountain lifestyle. Facilities include an outdoor pool and hot tub, a barbecue area and playgrounds with several walking paths and water features.

The next phase of the development, which will start later this year, will include an indoor water park, waterslide, steam room and fitness centre.

Ownership opportunities at Bighorn Meadows include the purchase of 1/17, 1/8 and 1/4 shares in a unit.

Bracken says a 1/4 ownership works out to 12 to 13 vacation weeks a year, while 1/8 ownership gives six to seven weeks a year.

"People might use half their time at the resort and put the rest of the weeks up for rent, or use the remaining weeks elsewhere through Interval International."

Bighorn Meadows is affiliated with Interval International, a vacation exchange network for vacation owner members with 2,500 resorts worldwide.

Bracken says potential buyers can experience the mountain resort firsthand with a two-or three-night stay at 50 per cent off the rental rate.

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Bighorn facts

Location: On the ninth fairway of Springs Golf Course in Radium, B.C., about 560 kilometres from Edmonton and 375 km from Jasper. The nearest airport is Calgary, 250 km away.

Examples of fractional ownership offers:

- -one-bedroom (865 sq. ft.): 1/8, $56,000; 1/4, $99,900

- -two-bedroom (1,413 sq. ft.): 1/8, $85,000; 1/4, $149,900

- -three-bedroom (1,798 sq. ft.): 1/8, $95,000; 1/4, $169,900

For more information, call toll free 1-888-766-9637 or e-mail info@bighornmeadows.ca

Online: bighornmeadows.ca

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The new HST

The B.C. government is combining the seven-per-cent PST with the five-per-cent GST to create a single harmonized sales tax (HST) effective July 1.

The province is offering a partial rebate on the provincial portion of the 12-per-cent HST on new housing that is a primary residence. There is no rebate for investment properties or recreational property that is not a primary residence.

The rebate program is administered by the Canada Revenue Agency.

For more information, check the following websites:

- gov.bc.ca/hst

- bcrea.bc.ca/hst/faq.htm

- cra-arc.gc.ca/E/pub/gp/rc4028/rc4028-09e.pdf