Kelowna Real Estate Market News

As Ski Season approaches, Buyers tend to turn their attention to Buying Real Estate in Ski Resorts.


My thanks, this week, go to Peter Borszcz of Pihl Law Corporation, here in Kelowna who has put together a timely reminder of some of the issues you must consider when purchasing or selling a property at a ski resort:

  1. Unique Titles and Leaseholds – some examples of these include the leasehold strata units of Snow Pines, the Restrictive Covenants on titles preventing competitive ski businesses, or the Easements to allow for use of adjacent ski runs or lifts. 
  2. Use Restrictions – Many buildings have both title and strata restrictions on how and when that building can be used and by whom, these should be fully reviewed and you should not make common real estate assumptions like “I can live in this unit full time” if its part of a resort strata hotel complex.
  3. Short Term Accommodation Issues – AirBNB and VRBO and other short term accommodation...
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Finding the Perfect Size Home for You!

How do you find the ideal home size for you and your family?

If you’re house shopping, there’s probably one question that’s been on your mind often: “What size home should I buy?” At a glance, the answer seems obvious: as big as you can afford! But that’s only a small piece of the puzzle. Home size matters on many levels from personal preference to resale value, future plans, your budget, and more.

How do you find the ideal home size for you and your family? Here are three things you need to consider:

The Truth About Square Footage

A foot is a foot, right? When it comes to the square footage of your future home that may not be the case. Measuring the size of a house isn’t incredibly precise. More often than not, the size will change depending on which appraiser is measuring and what mechanism they’re using to determine the square footage: measuring tape, laser measure, or eyeball. The reality is that there...

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If you are thinking of moving this Spring, chances are that you are looking to finance the purchase, you will be thinking about what route to go with your Mortgage.

 

This month my thanks go to Susan Cowling, a BC Mortgage Broker, for her thoughts on what you should know before making a decision on a Fixed or Variable Mortgage.

 

It’s the first and only thing anyone usually asks when you talk about your mortgage: What’s your rate? While everyone can recall their rate off the top of their head, it’s the only detail of the mortgage they remember or care to know. Though the rate is obviously important, your mortgage is so much more than a rate, and if you’re not paying close attention, it can cost you money.

 

Before we dive deeper, let’s talk fixed rate vs. a variable rate and which one is better. Well, that all depends. First-time homebuyers and older homebuyers typically love the stability of a fixed rate. Keep in mind, seven-in-ten fixed mortgages...

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