Homebuyers in Okanagan are drawn to the region for its strong sense of community, with local festivals, societies, social groups, and more. Affordability continues to be a prevalent factor for homebuyers in this region, with many looking for homes with secondary suites that can be rented out to support mortgage payments. Many buyers are looking to offer long-term rental options given the restrictions on short-term rentals. Demand in the region is currently being driven by city lovers – with and without kids, and suburban families/move-up buyers.
We asked RE/MAX brokers and agents to weigh in on their market, and help identify some trends and the best neighbourhoods in Kelowna. Here’s what they said.
Top concerns for homebuyers in Kelowna are:
- Wildfires, flooding or other natural disasters
- Pollution in neighbourhoods
- Overly crowded neighbourhoods
Top 3 liveability qualities buyers seek in Kelowna are:
- Affordability
- Views/neighbourhoods – which include good schools and amenities
- Ease of access to downtown
Best Neighbourhoods in Kelowna
Top 3 most affordable neighbourhoods:
- Rutland
- Glenrosa
- Ellison
Top 3 up-and-coming neighbourhoods:
- Smith Creek and Shannon Lake
- Kelowna North
- Lake Country
Top 3 most luxurious neighbourhoods:
- Upper Mission
- Wilden
- Lakeview Heights
Advice to homebuyers
“Do your research. This may include finding and locating amenities you are interested in using such as gyms, community centres and stores to get a better sense of where you would like to be located in relation to the amenities,” according to Jerry Redman and Clare Pollonais, Managing Brokers at RE/MAX Kelowna.
They suggest another form of research would be to speak to locals – they can offer great insights not available online and can speak to how people current live in the area. Understand your distances.
They also recommend speaking with a real estate agent who knows where the latest developments are taking place, and can guide you on when the best time to make a purchase is, whether now or in the future. “Read the official community plans, areas of focus and development permits on city maps.”
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