West Kelowna Real Estate News!
Welcome to the Shield Real Estate Blog. This is the place to visit when you want the latest West Kelowna real estate news. I share monthly tips on a variety of local real estate topics. Everything from what the market statistics mean to how to amp up your curb appeal! Anything I can share to help you prepare your home and yourself for a potential sale is here. Along with what buyers can expect when they want to purchase a West Kelowna home for sale.
Additionally, I love to keep my customers up to date with information about recent listings and solds on my Facebook page. Staying social is a great way to keep my finger on the pulse of the market. It’s also a great way to keep my customers informed! You never know when it will be time to buy or sell a home, but at least you know who your real estate agent in West Kelowna should be!
Follow along, read and share with me!
REALTOR® in West Kelowna on Short-Term Rental Regulations
Real Estate Articles, West Kelowna Real Estate NewsLast year, the province of British Columbia announced that it would be unrolling new legislation to curb short-term rental (STR) activity. The first of these new regulations is set to go into effect in a few months. If you’re wondering how these new rules will impact your investment, you’re in the right place. As a trusted REALTOR® in West Kelowna, I will be going over some of the basics of B.C.’s new STR regulations. Follow along below to learn more!
What to Know About New Province-Wide STR Legislation?
B.C.’s new short-term rental accommodations act is being put into effect in an effort to mitigate the provincial housing crisis. Many residents of the province have found it challenging to find a suitable home. This is due to a shortage of affordable properties and long-term rental options. In response to this, the provincial government has taken action against STR accommodations to help create more housing opportunities for permanent residents.
It’s important to note that the act will not apply to reserve lands, Nisga’a Lands or the Treaty Lands of a Treaty First Nation, hotels, motels, a vehicle, tents, or temporary shelters.
May 1, 2024, will mark the start of new STR accommodation rules. One of these new rules will require rental hosts to display a business license number on their listing. However, this will only be in areas where a business license is mandatory by the local government. Another requirement to be implemented on May 1st is the need for all STRs to only operate out of the host’s principal residence. While this regulation will not apply to all British Columbian cities, it will be enforced in Kelowna and West Kelowna. At this time, there will also be changes to legal non-conforming use protections.
As the year progresses, other obligations such as data sharing and a provincial registry launch will occur.
Those who choose to disobey the STR accommodation act could be subject to large fines. In 2023, the maximum fine that regional districts can set for prosecutions of bylaw offences under the Offence Act went up from $2,000 to $50,000.
Contact Your REALTOR® in West Kelowna Today!
If you are an investor in real estate in West Kelowna, understanding new STR rules is important. For more information about this new legislation and how it will impact homes in the area, contact me today! I’d be happy to help you sell or buy property in this desirable area of the Okanagan. Be sure to check out my blog next month for more real estate tips and information. I look forward to working with you in the near future!
2024 Real Estate Market in West Kelowna
Real Estate Articles, West Kelowna Real Estate NewsHappy New Year everyone! The real estate market in West Kelowna is expected to rebound in 2024, making for some promising opportunities. To help you get started with reaching this year’s estate goals, I am going to be going over a market outlook for houses in West Kelowna. From anticipated prices to provincial and national trends, I’ll cover it all in the article below. Continue reading to learn more about what to expect from the West Kelowna real estate market in 2024!
What to Know About the Real Estate Market in West Kelowna in 2024?
In 2024, the national average home price is said to climb 5.5%. Many major Canadian cities are rumoured to follow suit with this trend; including West Kelowna. Okanagan housing prices are projected to grow by 2% in the coming months. This indicates a return to healthier conditions from where the previous year ended off. Okanagan cities like West Kelowna are part of one of the fastest-growing markets in the country. This status has ensured the market’s longevity and prevented any significant dips in value.
Another change to come this year will be interest rates. Although the Bank of Canada’s key lending rate is anticipated to remain the same for the first half of the year, cuts will likely be made in the second half of 2024. This could yield greater opportunities for residents to re-enter the real estate market after being sidelined.
Sales in the Okanagan region could be dampened as residents adjust to the new mid-single-digit borrowing costs. However, experts are hopeful that they will pick back up in the third and fourth quarters of the year.
Contact me Today!
January is the perfect time to get a jump on your real estate resolutions for the year! For more information about how you can achieve this year’s goals in real estate, contact me today! I’d be happy to help you sell or buy property in this desirable area of the Okanagan. Be sure to check out my blog next month for more real estate tips and information. I look forward to working with you in the near future!
West Kelowna Homes For Sale – 2023 Blog Recap
Real Estate Articles, West Kelowna Real Estate NewsDecember is here! If you’ve been following my blog, you would know that now is the time for our annual year-end blog rewind. This recap is designed so that everyone can catch up on missed articles from the year. To do so, I will be writing a summary about every month’s post in 2023 I encourage you to check out the full post if you have not yet read the article by clicking the link in the title. Follow along to see what was written about West Kelowna homes for sale in 2023!
Winter and Spring Recap
Jan – A Guide to Buying West Kelowna Homes!
Buying West Kelowna homes is a big purchase. Whether you are a first-time buyer, or a seasoned vet, choosing to buy a property is a huge decision. To help you succeed with buying West Kelowna homes, I outlined a brief buyer’s guide.
Feb – Homes in West Kelowna – Market Update
In this article, I went over a brief market update and provided some insight into buying and selling homes in West Kelowna. Take a look back at the real estate market in February of 2023, by checking out this post.
Mar – Buying Properties in West Kelowna on WFN Land
In West Kelowna, many homes are situated on Westbank First Nation (WFN) lands. If you’ve found your dream home on WFN lands, but aren’t sure how this will impact your purchase, I encourage you to check out this post!
Apr – West Kelowna Properties Near Schools!
For those moving to properties in West Kelowna with school-aged children, you may be wondering what schools are available in the area. To help you out, in April, I went over a brief overview of all of the schools available to students living in West Kelowna.
May – Why Buy West Kelowna Real Estate for Sale?
Whether you are looking for ways to add to your investment portfolio or simply want to purchase a secondary home, West Kelowna is a great place to look! In this post, I discussed the benefits of buying property in this awesome location.
West Kelowna Homes For Sale – Summer and Fall Recap
Jun – Real Estate For Sale in West Kelowna: Buying a Fixer Upper
Buying a fixer-upper can be enticing for several reasons. Whether that be an attractive price or a passion for renovating old homes. In this article, I wrote about some of the things that should be considered when purchasing a house that needs to be renovated.
Jul – When Should I List my Home For Sale in West Kelowna?
Knowing when to sell your home can be tricky. However, you must know when to let go. From financial reasons to lifestyle changes, I cover it all in this blog post!
Aug – Wait Before Renovating Houses for Sale in West Kelowna
In this article, I went over a few reasons why you should consider waiting before renovating houses for sale in West Kelowna.
Sept – Why Buy a Property in University Heights
Are you looking for a new neighbourhood in Kelowna to call home in 2024? If yes, consider the newly developed University Heights! In this post, you will find key information about the housing, population, and amenities of University Heights. Learn more here!
Oct – Boost the Value of Condos in West Kelowna With These Renovations
The right renovations have the potential to enhance the value of your home. Find out what the best renovations are for adding value to condos in West Kelowna, here.
Nov – Preparing Your Home in West Kelowna for the Holidays!
To save yourself some time and stress during the peak of the holidays it’s a good idea to start preparing your home early. To help you get started, we provided a short checklist of ways that you can get your home ready for the festivities!
Contact me Today!
We want to thank all of you for another great year in real estate. For more information about West Kelowna homes for sale, please feel free to contact us. We look forward to bringing you more blog content in the new year. Happy holidays everyone!