Real Estate in Kelowna, Canada
Last updated on Nov 14, 2024
Summary: The average cost of a nice 2 bedroom home in Kelowna, Canada is around $500,000 CAD. A nice 3 bedroom home in Kelowna is around $650,000 CAD. These properties typically include modern amenities such as stainless steel appliances, granite countertops, hardwood floors, and updated bathrooms. Some homes may also include a private backyard, a garage, and a deck. There are no restrictions on foreign ownership for properties in Kelowna. An expat looking to buy a home in Kelowna should start by researching the local real estate market and familiarizing themselves with the different neighborhoods. They should also consider their budget and lifestyle needs when searching for a home. The most desirable neighborhoods in Kelowna include Glenmore, Lower Mission, and South Pandosy. These neighborhoods offer a variety of amenities, including parks, schools, shopping, and restaurants.
How do I find a place to live in Kelowna?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Kelowna is a great place to live with plenty of housing options. You can find a place to live by searching online for rental listings, checking out local newspapers, or asking friends and family for recommendations. You can also contact a real estate agent to help you find a place that meets your needs. Additionally, there are many websites that offer listings of available rental properties in the area. Once you have narrowed down your search, you can visit the properties in person to get a better feel for the area and decide if it is the right fit for you," said one person in Kelowna.
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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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What is a typical expat home or apartment like in Kelowna?
"Expat homes and apartments in Kelowna are typically modern and spacious, with plenty of natural light and stunning views of the surrounding mountains and Okanagan Lake. Many expat homes and apartments come with amenities such as air conditioning, in-suite laundry, and private balconies or patios. Expats can also find a variety of housing options, from luxury condos to single-family homes. No matter what type of home or apartment you choose, you can be sure to find a comfortable and welcoming place to call home in Kelowna," said one expat who made the move to Kelowna.
"It was a small modular home on the banks of Okanagan Lake. It's not a typical home for the area although there are quite a few areas in Kelowna with this type of low cost housing," explained one foreigner living in Kelowna, Canada.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Kelowna?
If you are thinking about moving to Kelowna, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Kelowna is relatively high compared to other cities in the country. The median price for a single-family home in Kelowna is around $700,000, while the median price for a condo is around $400,000. Renting is also an option, with the average rent for a one-bedroom apartment being around $1,400 per month," remarked one foreigner who made the move to Kelowna.
"What we got for our money made it worth every cent. We were paying $750.00 per month and had our own beach. Averages in the area vary depending on the type of homes. House prices range from around $150,00 to around $3 million," explained one person living in Kelowna, Canada.
Should I buy or rent a home in Kelowna?
If you have not spent a lot of time in Kelowna, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Kelowna can be a great investment. The city is known for its beautiful scenery, vibrant culture, and strong economy. The cost of living is relatively low compared to other cities in Canada, making it an attractive option for those looking to purchase a home. Additionally, the real estate market in Kelowna is strong and has seen steady growth in recent years. Renting a home in Kelowna can also be a great option for those who are not ready to commit to buying a home. The rental market is competitive and there are a variety of options available to suit different budgets and lifestyles. Ultimately, the decision to buy or rent a home in Kelowna will depend on your individual needs and financial situation," said one expat who made the move to Kelowna.
What do I need to know when buying property in Kelowna?
When we asked expats what advice they would give a foreigner before buying a property in Kelowna, they said:
"When buying property in Kelowna, it is important to research the local market and understand the current trends. It is also important to consider the local amenities, such as schools, parks, and shopping, as well as the proximity to major highways and public transportation. Additionally, it is important to understand the local zoning regulations and any restrictions that may apply to the property. It is also important to consider the cost of living in the area, including taxes, insurance, and utilities. Finally, it is important to work with a qualified real estate agent who is familiar with the local market and can provide guidance throughout the process," said one person in Kelowna.
Are foreigners allowed to own property in Kelowna?
When we asked expats what advice they would give a foreigner before buying a property in Kelowna, they said...
"Yes, foreigners are allowed to own property in Kelowna. Foreigners are able to purchase property in Canada as long as they meet the requirements of the Canadian government. These requirements include obtaining a valid work permit, having a valid visa, and having sufficient funds to purchase the property. Additionally, foreigners must also comply with the laws and regulations of the province in which they are purchasing the property," explained one person living in Kelowna, Canada.
What appliances are typically included in a rental?
We asked foreigners in Kelowna what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Kelowna typically include a refrigerator, stove, oven, dishwasher, and washer and dryer. Some properties may also include a microwave, toaster, and other small kitchen appliances," said one in Kelowna.
Additional Information about Searching for a Home in Kelowna:
We asked foreigners in Kelowna what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats looking for homes in Kelowna can search online for real estate listings, or contact a local real estate agent for assistance. They can also search for rental properties on websites such as Craigslist or Kijiji, or look for rental postings in local newspapers. Additionally, expats can join online forums and ask for advice from other expats who have already settled in Kelowna," remarked one foreigner who made the move to Kelowna.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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