Town Homes in Kelowna
What can you expect in Kelowna this spring for town homes and condominiums with 2 or 3 bedrooms?
There is a beehive of activity in the building community in Kelowna. It seems that the cycle of boom or bust has swung strongly in favour of the boom. This is largely due to a number of factors we have mentioned in previous articles. The perpetually low interest rates, a shortage of homes for sale in the market and of course a very tight rental market with availability at less than 1%.
There is also a growing demand for affordable homes for younger couples who now make up the largest part of the home buying community. These first-time buyers are putting pressure on town homes and condominium sales and, as can be expected, prices are jumping up yet again as the new inventory of townhomes under construction is slow to hit the market.
Let’s look at three different properties available in the town home category.
Scuka Enterprises has a new project underway in the Lower Mission right across from Gyro Beach. This is a very desirable location and as can be expected these townhomes are fetching prices between $850,000 and $900,000. Definitely these are too expensive for most first-time buyers but affordable for empty nesters who are downsizing and selling their bigger family homes.
These 3 bedroom town homes with 3 bathrooms feature 2 car garages and beautiful roof top patios. These are also large 3 story town homes up to 1950 square feet.
In West Kelowna, there is a featured Tommie Award winning town homes at Peak Point Court. This is part of the 36 town home Lakeview Terrace development that was completed in 2016 and just off of Westlake Road.
A similar townhouse in this neighbourhood is priced at around $550,000. The floor plan also features approx 1900 square feet and has 3 bedrooms and 2.5 bathrooms. It also includes a rooftop patio which is becoming a popular trend in Kelowna developments and a 2-car garage.
Third on our list is a town home built in 1990 off of Taylor Road in Rutland. This is a 2 bedroom and 2 bathroom rancher layout and has a very nice liveable floor plan. This town home is in Odaiyar Place which is an enclosed development project. This style of construction was very popular twenty years ago where security was an issue with snowbirds heading south every winter. There is no age limit on this town home and has a strata fee of $177 per month. A single covered parking space is included along with 5 appliances in this roomy rancher.
Condominiums and town homes are a desirable housing option this year as the demand from young couples and young professional continues to drive to market. For more information on what you can expect to see in the town home category please call the team at Quincy Vrecko and Associates today 1-778-760-2860!