Buying A Condo in Kelowna
Traditionally strata properties were for marketing 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 to 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.
Kelowna Condo Buying Tips
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 the 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.
Condominiums and Townhomes
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 homeowners 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 with the culture. Everyone hears about the horror stories about a crazy person in a building causing trouble for other owners but these people are few and far between. 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.
For a complete list of condos and townhomes in Kelowna check out www.condosofkelowna.ca
Or call Andrew Smith directly at 250-979-8066. Over 22 years of experience helping people achieve their dream of homeownership!