Kelowna is currently one of the hottest property markets within British Columbia (and indeed throughout the whole of Canada). So, it only makes sense that a significant number of individuals and families are contemplating buying a property here. Although the variety of houses for sale is indeed impressive, there are still a handful of factors that have to be taken into account. Let us examine some of the most important in greater detail.
The Rise of the Multi-Housing Unit
Recent research suggests that the number of young adults and seniors is expected to increase over the next five years. This equates to a massive rise in the demand for multi-housing units such as apartments, condominiums and duplexes. This is important for two reasons. First, it shows that the recent boom in this market is much more than a one-off event. Secondly, residents and buyers are able to appreciate that the town is now associated with permanent living as opposed to a holiday destination alone. To put this another way, the growth of this region is not a bubble. It is based off of firm economics and the fundamentals of real estate.
What to Look for in a House for Sale
While every property is naturally associated with its own unique features and amenities, we should always keep in mind that there are a handful of metrics to examine before committing to any type of formal agreement. Critical areas of concern include:
- The age of the structure.
- The location in terms of security.
- Privacy issues.
- The physical condition of the interior and exterior.
- A proximity to shopping centres, mass transit hubs and (if relevant) schools.
Of course, these all need to be factored into the price of the house in question. When we consider that this property market is showing no signs of slowing down, it is very important to obtain a fair offer.
Kelownabcliving.com has always been known for our ability to deliver honest and trustworthy advice thanks to the expertise of our trained professionals. Whether you are interested in a house for sale or you are curious to know the average prices within the Kelowna duplex market, we are literally only a phone call away. We encourage you to further speak with us to fully appreciate what we can offer.