September Kelowna Real Estate Market Update Andrew Smith

September Kelowna Real Estate Market Update Andrew Smith

September Market Update The End Of Summer in Kelowna

Last month here in Kelowna we experienced a continuation of a trend with the number of unit sales below where they ought to be but the average sale price continues to rise. Kelowna continues to be a preferred destination for those able to retire here or have the ability to create a job for themselves on their laptop.

205 Homes Sold In August

There were 205 residential sales last month at an average sale price of $756,000. One of these numbers is high and the other number is low. I’m sure by know you can figure out which one is which. August is typically one of the strongest months of the year where we average just under 300 sales during the month so 205 is one of the weaker Augusts in a while. We have to go back to 2011 when we recorded only 158 sales for the month August. The reasons for the slowdown in market activity are many and have been documented here before. They include tightening of mortgage requirements as well as uncertainty about speculation tax in our upcoming provincial budget. The forest fires throughout the province haven’t helped things either.

Average Price Range

Prices remain high though. $756,000 is a huge number and is up considerably from the $719,000 we recorded last August and considerably higher than the $681,000 from august 2016. Will this continue? Kelowna always seems to defy gravity in terms of housing prices and with so much wealth around western Canada I can’t imagine prices falling below $700,000 ever again here. As always, thank you for reading and contact me if you have any questions, comments or thoughts on our housing markets.

Thanks for reading and please share this with family or friends thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here  Kelowna Homes and Condos

Make the Most of Your Money with These Home Renovations

Make the Most of Your Money with These Home Renovations

Make the most of your money with these home renovations that will help you command a higher selling price for your home. A home is, in fact, the largest investment that most people will make in their lifetime. Carefully selecting renovation projects will help that investment continue to flourish in the form of equity.

So where should you spend those hard-earned dollars? On the renovations that add the most value while you’re living there as well as a give you the most home equity. Spend money on the best that you can afford, without breaking your budget. Here are a few of the best places to spend money along with some budget-friendly tips.

High-Value Home Renovations

Master Bathroom Upgrades

Home buyers demand a fully-upgraded master bathroom. They want, and expect, to see all plumbing in perfect working order and upgraded countertops and cabinetry. Floors should be bright and new. They want to walk into a bathroom where they can visualize themselves calmly getting ready for work in the morning or soaking after a stressful day. A spa-like look with calm, soothing décor is the expectation.

If you’re on a tight budget, look for creative solutions to offer these upgrades. For example, if your cabinets are in good shape, paint them a current neutral like dove gray. If you can’t replace your floor tiles, give them a thorough cleaning (including the grout lines) and treat them with a liquid refinishing product that gives them a fresh shine.

Exterior Upgrades

An unfortunate truth in real estate is that appearances do matter. A home that is fantastic on the inside will linger on the market if the outside isn’t up to par. Most home buyers won’t tour the inside of a home with a drab exterior. They see it as a huge project they will need to take on, and quite frankly, they just don’t want to!

Exterior upgrades are a must in order to get buyers inside your home. There are almost too many possibilities to name, but here are a few. If you have old and faded siding, new siding is a must. If your windows are older, replacement windows are a must. Outdated, scratched up overhead garage doors need to be replaced. Paint all the trim and your front door to create an inviting color palette. Cracked sidewalks or driveways the create a tripping hazard need to be repaired or replaced.

These are all significant amounts of money, but there are really no short-cuts here. This is smartly spent money, for you will increase both your curb appeal and home equity. Plus, you will enjoy a beautiful, safer, and more energy-efficient home.

Outdoor Living Space

Homebuyers in all price points ask for outdoor living space. They want a place to toss steaks on the grill and entertain their friends in the summertime. This space can be either a deck or a patio, as long as you offer this space.

If you can afford to upgrade your existing space, consider enclosing it for enjoyment away from mosquitoes! Add a grilling zone outside of the enclosed space but where the chef can still interact with guests.

Even if you can’t afford to enclose your patio, invest in fabulous patio furniture that you can enjoy…and take with you! Careful staging can pay off huge dividends to a new home owner. It will demonstrate to the new buyers how wonderful the space is and help them to visualize how it could work for their family.

Kitchen Upgrades

Everyone looking for a new home has “fabulous kitchen” checked off in the “must-have” column of their wish list. Regardless of the home size or the buyer’s budget, the kitchen is a space that can sell your home!

Buyers hold high expectations in the kitchen. They are scoping out kitchens with current trends such as hardwood floors, granite countertops, new sink, spacious cabinets, and stainless-steel appliances. Wait, what? That sounds expensive! I know. And it is.

But this is the room where you will get the most bang for your buck.

Spend your money wisely. For example, if you’re in a neighborhood that doesn’t have homes that command top dollar, skip granite and choose solid surface countertops to save money. Re-stain the cabinets yourself. Select a high-quality wood-look laminate flooring. The options for saving money on materials here are limited only by your own creativity!

Summary

Because your home is a huge investment, it does need to be tended to frequently and updated periodically. These renovations will add valuable equity if you need to borrow money or help you get your money back on the sale of your home. But during the time that you are living in your home, they will offer you pleasure and convenience. After all, don’t you deserve the same luxuries as the potential buyer?

Thanks for reading and please share this with family or friends thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here Kelowna home renovations

Taxes, Condos and Stats. Kelowna Housing Update

Taxes, Condos and Stats. Kelowna Housing Update

1017 Kelowna homes For Sale

There are 1,017 single family detached residential homes for sale in Kelowna right not as we charge head first into the Springtime market.  We always wish this number was higher and we especially wish there were more affordably priced homes for sale but we’ll have to work with what we’re given.

662 Sales in 2018

There have been 662 sales so far through this year through April 23rd. . The average sale price so far is $758,000.  During the same period in 2017, there were 749 sales selling for an average of $673,000.  In other words, the number of sales is down significantly and prices are remaining high.  Prices jumped last year during the 2nd quarter into the $700s so the beginning of 2018 is a continuation of that trend.

Property Taxes

These numbers are all manageable and taken from a historical sense, they’re pretty good.  It’s wise to be cautious though because our neighbours to the east are in an unfriendly mood and the next six months might be rocky.  Kelowna has done a good job building an economy centering around Calgarians buying second homes with plans of retiring here, Edmontonians investing in pre-sale condominiums and Fort Mac families raising children here while working in Alberta.  Regardless of your political viewpoints, our neighbours won’t invest here anymore if they feel taken advantage of.  As Canadians we’re a pragmatic group and understand that we need roads, bridges and hospitals etc. and this money needs to come from somewhere.  We all grumble at having to pay taxes to keep each level of government operational but at least we’re all in it together. Each of us has to pay the same amount of property transfer taxes when buying in B.C.   We have yet to see the full effect that inter provincial pipeline disputes and empty home taxes will have on Kelowna real estate numbers but if the last three months are any indication, it might not be pretty.   Out of town home buyers are usually more informed about local taxation issues than the locals because they’re making an investment decision as opposed to a shelter decision.  Out of town investors are a sophisticated lot and are able to deal with certainty.  Right now we’re struggling to give them any.

Kelowna Condos

The story is brighter on the condo/apartment side of the ledger.  There have been 409 condo sales 359,000 so far this year compared to 420 this time last year.  With some unprocessed transactions still sitting on Realtors’ desks, we’re probably slightly ahead of last year’s pace.   Prices have jumped from $341,000 last year to  $359,000 so far this year.  The upbeat condo picture is likely to get even stronger as evidenced by all the construction taking place downtown.  As a result of expensive land costs, we’re now a community that has added second time-move up  buyers to the list of investors, first timers and last timers who purchase condominiums.

Thanks for reading and please share this with family or friends thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here Kelowna Kelowna Condos and Taxes

Okanagan Kelowna Market Update March 2018

Okanagan Kelowna Market Update March 2018

Kelowna Okanagan BC Market Clipping Along

The Kelowna residential real estate market continues to clip along at a reasonable pace.  Through February 28th of this year, there were 315 residential sales compared to 318 for the same period last year.  No surprises there.  Sale prices were significantly higher for the first two months of this year with a $743,000 average compared to $655,000.  Again, no surprises considering this is a continuation of the escalating prices we saw last year beginning in April.  Prices have stabilized and don’t appear to be increasing or decreasing.   The only thing that seems out of sorts is that the numbers for February 2018 are down significantly compared to February 2017.  Last year we recorded 205 sales in February compared to only 156 this year.  Perhaps this will amount to nothing but if you’re looking for something to worry about, this would be it.

Condo Sales

Apartment sales are up compared to this time last year.  200 condo apartment sales this year compared to 144 last year with prices increasing by 7%.  This part of the housing market is strong, robust and healthy and likely will be for some time.  There are currently only 315 apartments on the market (none of these numbers include Big White Ski Resort) putting us into a balanced condo market.  This is even more impressive after you account for the approximately 1,000 new units being built which aren’t included in MLS statistics.

Provincial Budget

There was a lot in BC’s provincial budget affecting real estate and it’s unknown how it will play out in the actual marketplace this year.  I haven’t met anyone in favor of a speculation tax but we will monitor the market closely to see if it has any negative ramification in the months ahead.

Thanks for reading and please share this with family or friends  thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here Okanagan Kelowna March 2018

Housing Shortage in Central Okanagan

Housing Shortage in Central Okanagan

Limited Housing Offered For Sale

Time for a mid-winter Kelowna housing update. There is a serious shortage of housing available in the Central Okanagan with only 701 residential detached single family homes for sale with 284 of these priced over $1 million. There are 175 homes for sale in the $500,000 to $700,000 range which is a reasonable number including 50 of these with basement suites. We’ve been an expensive town for years now and more buyers have accepted the reality that having a mortgage helper is necessary to meet a mortgage payment. The supply of homes will undoubtedly increase as we approach the warmer months and anyone looking to sell this year ought to seriously consider putting their home on the market prior to the inevitable onslaught of new listings we always see beginning in April.

256 Homes Have Sold

As of today there have been 256 residential home sales so far this year. This is pretty good market activity considering we’re only six weeks into the year. The average sale price was $762,000 which unusually high and will likely decrease as the year progresses. Not that I think the market will fall, more reasonably priced homes will sell which will bring the average price down. At this point in the year last year we had generated 220 sales with an average selling price of $667,000. Time will tell if this is the beginning of a trend but I suspect it isn’t considering the new mortgage rules which came into place in January. Regardless, we’ve gotten off to a pretty good start here in Kelowna.

174 Condos Sold

There have been 174 condo apartment sales so far this year at an average price of $330,000. This compares favorably to this time last year when we sold 119 condos at an average sale price of $315,000. The Kelowna condo market shows no signs of letting up anytime soon and continues to play a significant role in our housing market. Twenty years ago the ratio of condominiums sold compared to houses was 39%. Last year condos represented 53% of our marketplace. This trend will continue as evidenced by simply driving around town and looking at all the new condo developments being built.

Thanks for reading and please contact me if you are thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here Okanagan Housing Kelowna BC

Okanagan Real Estate Market Update 2018

Okanagan Real Estate Market Update 2018

February Okanagan Real Estate Market Update…Market Firing on all Cylinders

There are only 833 homes listed for sale in Kelowna right now.  Even considering the time of year, this isn’t a lot.  The news gets worse if you’re out there house hunting once you consider that there are only 63 residential homes priced under $500,000 in our market area.    Altogether we sold 3,012 residential homes last year which works out to 251 sales per month so we’re starting the new year in a seller’s Okanagan real estate market.

Average Sale Price in Kelowna $755,000 for January 2018

If the first month is any indication of what’s to come, things will be more active this year compared to last year.  The average sale price for January 2018 was $755,000 compared to $650,000 in January 2017.   January tends to be a low volume month and it isn’t wise to make predictions this early into the year but holy cow a $100,000 increase certainly gets your attention.

Apartment condominiums in Kelowna are starting the year off strong as well.  There have been 93 sales so far this month with only 287 apartment condos for sale.  Again, January is typically a slower month so 93 is a strong number and it’s a little troublesome that there’s such little inventory to show purchasers.  Both numbers will rise as the year progresses but we outpaced January 2017 by a significant margin.

Let me know if you think this year might be the year you consider putting your place on the market.  I can give you a reasonable estimate of your home’s value without letting a tenant know.  As always, thank you for reading.
Thanks for reading and please contact me if you are thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here Okanagan Kelowna BC

5 Killer Kitchen Trends That You’ll Lust After In 2018

5 Killer Kitchen Trends That You’ll Lust After In 2018

Kitchen Renovations For 2018

If you’re in the market for a new home, keep on the lookout. You’ll definitely want to keep your eyes open for the 5 killer kitchen trends that you’ll lust after in 2018. Home seller, on the other hand, will find it worth their time to become familiar with these trends so that they can give the buyers what they want this year!

GLASS-FRONTED UPPER CABINETS

Glass-fronted upper cabinets are on the wish list of many buyers. They brighten the space and make the uppers look lighter, offer a place to display favorite dishware, and just look so very stylish.

Glass-fronted doors need not be on EVERY upper cabinet, but they create a unique focal point when on one or two.

UNDER-CABINET LIGHTING

Under-cabinet lighting, installed under the upper cabinets, is also lusted over. If your home doesn’t have them, don’t worry. This lighting is desirable because it lights up the workspace, provides accent lighting at the touch of a button, and can be used to showcase a fabulous accessory.

They are inexpensive and easy to install. Thanks to LED technology, battery operated stick-on lights shine bright and are attractive. In fact, they even come with a remote for instant mood lighting!

FARMHOUSE SINKS

The recent focus on country chic décor has impacted kitchen sink trends. We once had large, deep, utilitarian farmhouse sinks. We swapped those out for stainless steel dual sinks. Guess what? We have re-thought our stance and now want our big, deep sinks back!

A large farmhouse sink creates plenty of room for washing dishes, even the largest pots and pans. They hold a lot of water for cleaning tasks, and they just really look good! White porcelain is the top-seller of this sink style.

DEEP PAN STORAGE DRAWERS

Today’s homeowners don’t like deep and dark cabinets where they stack and unstack pots and pans to access their favorites. It’s time-consuming and awkward to reach. Instead, they are opting for deep pan storage drawers that pull out and offer easy access.

If your home doesn’t have these custom-installed, it can be a DIY project. Kitchen drawer kits can be purchased and installed with just a drill and screwdriver.

NEUTRAL COLORS

A neutral kitchen is a blank canvas. It is classy, elegant, and clean looking. Neutral doesn’t necessarily need to translate to “white” or “boring.” The fact of the matter is that neutrals never go out of style!

It can be soft gray, cream, greige, or tan. It’s a great way to keep a kitchen that’s always on trend.

If you’re a seller, you may be thinking that you don’t want to paint. But think of the white or cream kitchen as you in a simple white outfit…you accessorize it and make it your own! You can add pops of colors though fabulous accessories, countertop appliances, and window treatments.

The neutral kitchen gives the home buyer the opportunity to stamp the space with your very own style!

SUMMARY:

Whether you are a real estate buyer or seller, there are trends that impact how home purchases are made. The kitchen is a deal breaker for many buyers. Keeping up with the current trends will ensure a smooth transition for both parties.

Thanks for reading and please contact me if you are thinking of buying or selling

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

For more information https://www.okanaganbc.com/ or view here renovations Kelowna BC

#Renovations

#Kitchenrenovations

5 Bylaws to Watch When Buying a Condo in North Vancouver

5 Bylaws to Watch When Buying a Condo in North Vancouver

Following the rising cost of property in the real estate industry of North Vancouver, more and more residents are opting for the more affordable strata living in condos.

Home developers have invested heavily in condos, high rise and low rise buildings designed to suit most city dwellers’ needs. Some buyers are too eager, and ignore or dismiss strata bylaws and restrictions laid down for the residents of the particular condominiums.

Different buildings have different bylaws and restrictions regarding different situations. Before buying a condo, here are some five major restrictions you should check to help you decide on which property offers the best living solution depending on your lifestyle.

Tips For North Vancouver Condos For Sale

1) Age Restrictions

Under the current B.C legislation strata corporation are at liberty to set the minimum and maximum age restriction for condo residents. The accepted restrictive limit is between 19 and 55 years. If the strata council pass an age restriction bylaw, current condo residents are exempted from the new law until they are no longer occupants of the building.

Before buying in an age restrictive building, you should have a clear plan on the expected length of stay and number and ages of expected occupants. This will save you the time and effort of having to relocate should you have an addition to the household in future, who doesn’t fall into the age bracket.

2) Rental Restrictions

Condo residents may at one time wish to rent out their condo partially to boost their finances, or rent out the entire space, for instance, while traveling or after owning another home. There are municipalities bylaws that govern such accommodation cases. However, before any long-term or short-term renting of your condo, it is best to check with the strata to see if it is allowed.

Different complexes will have different bylaws for dealing with rental cases. Their main concerns are security, damage, and insurance coverage. The renting party is considered a guest, and as such, may not be accountable or responsible for damages or covered by the insurance.

3) Pet Restrictions

In many cases, buyers overlook pet restrictions before buying. Only to find out their pet isn’t welcome, and have to deal with hefty fines, and eventually having to get rid of the pet or relocating. Pet restriction bylaws vary significantly from strata to strata. Some go to the extreme of completely prohibiting pet ownership.

Stratas that allow pets have strict restrictions regarding the pet’s size, weight, breed, and number of pets allowed one can keep. Some restrictions are obvious; vicious, unsanitary and noisy pets are not allowed in apartments. Most condos will allow one or two pets, no taller than a man’s waist and weigh 30 pounds or less.

Pet bylaws can change over time in some strata, to either become more lenient towards pet owners or increase restrictions. If changes in pet restrictions are made, current pets residing in the building remain unaffected by these changes.

4) Noise Restrictions

While living in condominiums, quite a fair amount of noise can be expected. Especially if the building is made of a sound porous material such as wood. Loud and distracting noise, particularly during the quiet hours normally set from 11 pm to morning hours is not tolerated. Loud noises can be parties, playing children, fights or screaming. Some may include pet noise which may also fall in pet restrictions bylaws.

The strata council sets the noise restrictions. They also act on noise complaints and serve warnings to noisemakers and in some serious cases even warrant eviction. Most buildings will not allow high levels of noise at any time of day from the residents.

5) Visitor Parking Restrictions

Residents are not allowed to pack in the visitors’ parking stalls unless under special conditions. Persons found to be parking in visitors’ parking spaces are fined and in the worst case have their vehicles towed away.

These parking spaces are strictly reserved for visitors. Most condos allocate or rent out parking spaces to its resident depending on the location of the building and the buyer’s agreement.

Before deciding on which property to buy, check every one of these bylaws and make sure your choice is convenient for your lifestyle. Other bylaws probably worth checking on are, smoking restrictions, maximum occupancy restrictions and renovation restriction.

The Verve Kelowna For Sale

The Verve Kelowna For Sale

Verve Kelowna Market Update

There are only three units for sale in the Verve right now as of this writing which is a little troubling for any first time buyers looking to get a foot into Kelowna’s housing market.

Units for sale are as follows…

 

#107 539 Yates                 $272,900                              1 bedroom plus den

#209 567 Yates                 $329,000                              2 bedrooms plus den  (Offer Pending)

#405 539 Yates                 $329,900                              2 bedrooms plus den

There were 76 total sales last year in all the Verve buildings with the average sale price of a two bedroom unit being $305,000 while a one bedroom unit sold for $231,000.  The average price climbed throughout the year and my expectation is that it will continue on the same trajectory this year.

The first quarter of last year was the most active of all quarters as we saw

24 condos sold which just can’t happen this year unless inventory levels increase.

The Verve Owners Considering Selling

The number of units for sale will increase because, for no simpler reason, they always have in the past.  There are just too many Verve Kelowna owners to not have condos changing hands.  The fact that there is a wide open window right now is something prudent sellers ought to consider if they are on the fence about selling sometime in the Spring.  With no competition, buyers can’t be as choosy and don’t have as much room to negotiate off the asking price.

BC Tenancy Rules

Tenancy rules have changed in British Columbia affecting all landlords and tenants who are currently in fixed term leases.  Contact me for more details on this and how it changes the way notice is given to legally end a tenancy.

Thanks for reading and please contact me if you are thinking of buying or selling in The Verve

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here real estate Kelowna BC

#Theverve

#thevervekelowna

#kelownacondos

 

Hidden Real Estate Costs That Can Surprise You

Hidden Real Estate Costs That Can Surprise You

Hidden Real Estate Costs that 90% of home buyers and sellers do not know about.

Do you believe that the price attached to a property listing is the ultimate cost? You are not alone, many sellers and buyers hold the same belief.

Every time a property is handed over from one owner to another, it attracts quite a number of costs and fees. Some will run into thousands of dollars. The final price, whether you are selling your old home or buying a new one, will be inclusive of all these costs.

Speaking to reputable real estate lawyers around BC, we came up with a number of home buying and selling costs you never knew about.

Costs for buyers

  • Title insurance: it is not mandatory you get insurance for your property. However, you will need it to beat the widespread real estate fraud and identity theft. For a home valued at $450,000, a few hundreds of dollars will be adequate.
  • Legal expenses: you will need a real estate lawyer to help you process the required documents. You will be expected to part with 1% of the buying price or a maximum flat figure of $1,200, and GST plus disbursement cost.
  • Transfer tax: in BC there is a  property transfer tax. The rate is 1% on the first $100,000 and 2% on the balance of the purchase price. You will see this in the statement of adjustments from your lawyer or notary. The progressive levy is a fraction of the total purchase price.
  • Mortgage cost: a good number of banks do not charge any fee on their mortgage offers. You had better confirm with your bank. However, if you will be getting at least 80% of the home price from mortgage, you will have to obtain insurance with Canada Mortgage and Housing Corporation.
  • Adjustment costs: apart from property taxes, the rest of the expenses in this list are utility bills.

Costs for seller

  • Legal fees: just like the buyer, the seller will need legal counsel to ensure everything is done within the provisions of the property law. Legal fees are approximately $1,200 exclusive of GST depending on the complexity of the purchase or sale. Usually, the lawyers charge less for a sellers transaction.
  • Real estate agent commission: while many sellers know that they pay a realtors commission. Both realtors will split a commission that is calculated by the total sale price.
  • Mortgage discharge: selling your home before your mortgage matures is a big financial risk. It will attract penalties and a discharge fee. On average, you can pay up to 3 months of your mortgage installments in penalties. The discharge fee lies between $200 and $300. However, you can get a waiver of these penalties and discharge fee if you transfer your old mortgage to the home you just bought.

Did you know about these costs? If you know anyone thinking of buying or selling please share this information

Please feel welcome to contact me with any questions

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna

1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here kelowna real estate listings

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