Playa Del Sol Condos
Located across the street from Okanagan Lake and the Eldorado boat launch.
Amenities in the building include a gym, underground parking and an out door pool. For those looking for a vacation investment, this complex allows short term rentals so you can buy and use as you wish and rent out for the remainder of the year.
Traditionally strata properties were for marketed to the first time buyer crowd who couldn’t afford to get into the market and the last time buyer crowd downsizing who didn’t want the responsibilities of a detached house. This has certainly changed over the years especially in Kelowna with many out of towners buying a condo as a second residence using it as a rental or place stay when they visit. Regardless of what age you are, if you’re considering buying a condo it’s really important to know what you’re getting into.
How To Buy A Condo
Age, pet and rental restrictions are the first thing you need to know about. If you have a pet, or if you think you might want a pet, it’s important to know what’s allowed and what isn’t. Same for renting. Same for parking. Same for a lot of other things. I have a client who moved to Meadowbrook apartments on Enterprise after retiring here from Whitehorse a few years ago. He was a card player looking for a quiet lifestyle and wanted to join a good bridge club. This is fairly typical and every realtor has come across this type of buyer….just substitute bridge player for quilter, bowler, square dancer, etc. This particular buyer also wanted a private deck on the top floor where he could smoke cigarettes in peace and quiet. Again, not uncommon and let’s not judge anyone here. Imagine his horror though two years later when his strata wanted to pass a bylaw prohibiting smoking everywhere. Luckily for him the resolution failed because he would have moved out.
Most strata board people I’ve come across are run by reasonable people who know what they’re doing and are willing to volunteer their time freely answering my questions and giving forthcoming information on their little micro communities. They understand how to read financial statements and are aware of the issues in their building. I’ll even go further and say that most people who live in strata titled properties are generally happy home owners who like condo living.
If you are thinking of buying into a condo you really do need to take the time to read all the minutes of the strata board and past annual general meetings to familiarize yourself to the culture. Reading strata minutes and bylaws might take a while but I promise you will be glad you did. If reading dry documents isn’t your cup of tea any Realtor or real estate lawyer will read and explain things to you and you will be able to make an informed decision.