Here’s how we’ll help you investing in real estate and ensuring your long-term success:
Kelowna has been growing rapidly over the last few years, from the developments at the University of British Columbia campus to the Kelowna General Hospital expansion and additions to the Kelowna International Airport. With easier accessibility, top-tier education and even better healthcare, Kelowna has become a top destination for families, retirees, students, and anyone in-between, all while maintaining its unique charm.
Preparing Your Finances
Whether you’re purchasing a primary residence with an income suite or a second home to flip, you’ll need to be pre-approved for a mortgage before you start your home search. You may need to put down a deposit on the property (depending on the location and price), which will become part of your down payment once you’ve purchased the home. You’ll also need to put down a minimum of 5% as a down payment; ideally, you would actually put down 20% to avoid paying Mortgage Loan Insurance. Keep in mind that there will be additional costs, including Land Transfer Tax, appraisal fees, home inspections fees, and insurance.
Finding The Right Property
When you’re investing in real estate, location can make or break your experience. Each of Kelowna’s neighbourhood offers a degree of investment potential, from affordable areas such as Rutland to the student-populated neighbourhoods closer to UBC. To find your property match, consider what kind of tenant you’d like to attract, whether it’s a family, retiree, student, or single person. This will influence the size, location, and price of your investment property.
Getting a High ROI
As we look for your next property, we’ll also be looking at the potential return on investment that you can expect when you sell. It may seem premature, but your long-term success is our top priority. To ensure that success, we will connect you with our network of local professionals, from lawyers and mortgage advisors to home improvement specialists and cleaners, to make sure that you get the most out of your purchase. When it eventually comes time to sell, we’ll be just a call, text, or email away to get you the best post price and buyer for your property.
How to Get Started
Successfully investing in real estate requires working with a team who has their finger on the pulse of the local real estate market. As long-time Kelownians, our experts have experienced the ups and downs of our local market and have successful guided countless investors and buyers through the process. Whether this is your first real estate purchase or you’re a seasoned investor, our local expertise is your advantage.