Wondering How Much $500,000 Can Buy You in Kelowna?
Welcome back to the Kelowna Real Estate Blog!
Here we are in June of 2022 and the weather is finally starting to turn for the better. We saw a very wet May this year, but noone is really comlaining, hopefully all this water will help keep the forest fires at bay this summer.
This isn't an Oakanagn Weather Blog, you are here because you want to know what five hundred grand will buy you in Kelowna.
If you are looking at spending $500,000 in Kelowna on the nose, you are out of luck.
That said, I put in a search for a range from $500,000 to $550,000 and only included Kelowna proper (not West Kelowna, Fintry, Ellison or Big White) and we came up with 38 options.
Can I Buy a Single Family Home for $500,000 in Kelowna?
The answer right now is not really.
What I mean by that is, out of the 38 properties that came up on my search there was one half duplex in Rutland and a Cottage out in Beaverdell.
The rest of the homes listed between $500-$550k were condos.
Now condo could mean a couple of different things, it could be a bareland condo or a townhouse style condo or an apartment style condo.
All a condo, or strata as it's commonly referred to here in BC, refers to is the type of property. By buying into a strata you are buying into a corporation that owns the land and the buildings that the apartment or townhouse is sitting on.
A strata can act as an excellent entry point into the market if you are a first time buyer or an active investor. If you are looking to invest in the Okanagan there is a lot to learn and this will be a topic of my next real estate blog.
What Kelowna Neighbourhoods Have Homes for Sale at $500,000?
That's a great question.
Out of the properties that I searched today you would be looking in the following areas:
- Lower Mission
- Rutland
- Kelowna South
- University District
- Kelowna North
- Glenmore
- Springfield
To name but a few.
If you want unfettered access to view some of these listings you can click here to see a pre-defined search of homes in Kelowna between $480,000 and $550,000
If you've never purchased a home in Kelowna and are unsure of the area and what the process looks like you can check out some previous blog posts here:
If you'd like to jump on a discovery call you can book in with me on my calendar right here or you can email me kelley@kelleyskar.com
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