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New property listed in Kelowna

I have listed a new property at 2 777 Denali Drive in Kelowna. See details here

Welcome to this luxury townhome in the sought-after neighborhood of Dilworth. Perfect for discerning buyers seeking the epitome of comfort. This immaculate home boasts high-end finishes throughout. As you step inside, you're greeted by an inviting ambiance, with a bright and open floor plan that invites natural light to the main floor, creating a welcoming atmosphere of warmth. The main floor features a large primary bedroom retreat complete with a spa-like ensuite. Two additional bedrooms downstairs provide ample space for guests or family members, ensuring everyone has their own private space. Enjoy spectacular mountain, valley and peak-a-boo lake views from the private balcony with remote controlled sunscreens. Home is equipped with a Telus security system, including doorbell and garage cameras. For those who love the outdoors, this townhome offers proximity to golf courses, hiking trails and a myriad of amenities, allowing you to embrace an active lifestyle with ease. With ample storage space, you'll have room to stow away belongings and keep your home clutter-free, allowing you to fully appreciate your home. Minutes to downtown Kelowna and the lake, this townhome holds fantastic value! (id:2493)

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New property listed in West Kelowna

I have listed a new property at 3312 Hihannah View in West Kelowna. See details here

Discover your dream home in the heart of Shannon Lake—a beautifully designed 5-bedroom, 3-bathroom residence nestled on a flat cul-de-sac with breathtaking views of Okanagan Lake. This corner lot property offers privacy, convenience and a serene setting for families and entertainers alike, with zero traffic, plenty of parking and a fenced, low-maintenance yard complete with a putting green and fire pit. The double-car garage is wired for an EV charger and equipped with a hot water tap for easy car-washing. The lower floor is roughed-in for an easy conversion to a one-bedroom suite, offering excellent rental potential or space for extended family. Upstairs, soaring 11 ft ceilings in the living room and 9 ft ceilings throughout the rest of the floor create a bright, airy atmosphere, complemented by an open-concept layout and a private family room for cozy nights in. The master retreat is a true sanctuary, featuring a deep soaker tub, his and her sinks, motion-sensor under-cabinet lighting, heated floors, a standalone glass shower with a rain-head fixture and a spacious walk-in closet. Designed for both luxury and practicality, this stunning home seamlessly blends comfort, convenience and breathtaking scenery, making it the perfect place to call home. Don’t miss out on this incredible opportunity—contact us today to schedule a viewing! (id:2493)

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New property listed in Kelowna

I have listed a new property at 722 Highpointe Place in Kelowna. See details here

Nestled in the prestigious Highpointe community of Kelowna, this architectural masterpiece redefines modern luxury with views of the city, Okanagan Lake and surrounding mountains. This home is a visual showpiece, with striking geometric lines, floor-to-ceiling windows and meticulous landscaping. The interior boasts an impressive design, double-height ceilings, and seamless negative baseboards that exude elegance. The open-concept living space centers around a stunning linear fireplace, while the gourmet kitchen is a chef’s dream with high-end appliances, a waterfall-edge island, and a butler’s pantry for effortless entertaining. A custom elevator provides convenient access to all levels, and two separate garages accommodate up to 9 vehicles, perfect for car enthusiasts. Each bedroom is a private retreat with designer finishes and spa-like ensuites, including the luxurious primary suite with a walk-in closet and private outdoor access. The professionally landscaped exterior features a dazzling pool, an outdoor kitchen, and multi-tiered terraces, ideal for entertaining or relaxation. SMART home technology ensures convenience, and the property’s location offers both privacy and proximity to downtown Kelowna, world-class wineries, golf courses and recreational trails. This home is a statement of sophistication and lifestyle. Contact Team Simpson Real Estate for your private tour of this extraordinary property. (id:2493)

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New property listed in Kelowna

I have listed a new property at 952 Ackerman Court in Kelowna. See details here

Whoa! Where did this lot come from?? Welcome to this incredible lot on Ackerman Road that you didn’t even know existed. Located on a quiet street in Toovey Heights, this walk out lot is situated among beautiful homes and mature landscaping. Take in the amazing vineyard, city, lake and mountain views. Located at the end of a cul de sac, this property is a blank slate to build a special home and at just over .20 acres there is plenty of room to build your dream home. Black Mountain is minutes away from all amenities and only 35 minutes to Big White Ski Resort. A perfect combination for those looking for an escape from city living, yet only minutes away. Many homes on the street are 3 stories, so plenty of opportunity to maximize your build. Take a drive by today! (id:2493)

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New property listed in Kelowna

I have listed a new property at 2 935 Borden Avenue in Kelowna. See details here

Welcome to this modern townhouse offering the perfect blend of luxury, functionality, and convenience. Boasting 3 bedrooms and 3 bathrooms, this home provides ample space and comfort. As you step inside, you are greeted by an inviting open concept main floor that seamlessly connects the living, dining, and kitchen areas. The kitchen is a chef's delight, with large island featuring bar seating making it ideal for both everyday living and entertaining guests. Upstairs features large bonus room ideal for hangouts and TV watching. Primary bedroom has good size and adjoining W/I closet and 4 piece ensuite. Laundry on second floor as well. One of the highlights of this townhouse is the amazing rooftop patio, providing the perfect setting for outdoor gatherings and relaxation: Whether you're enjoying a morning coffee or hosting a summer barbecue. Situated in an excellent location close to downtown, shopping, and all amenities, this townhouse offers the best of urban living. Whether you're exploring the vibrant city life or escaping to the tranquility of your own private oasis, this property truly has it all. Has its own garage large enough for one vehicle and storage. Plenty of parking on street too. (id:2493)

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New property listed in Kelowna

I have listed a new property at 1809 Cardinal Creek Road in Kelowna. See details here

This remarkable 5-acre property, located just 10 minutes from Kelowna, offers a perfect blend of privacy and convenience. The outdoor amenities are a nature lover's dream, including a greenhouse with a wood stove, two chicken coops, three wood sheds, a kids playhouse, a pool, a hot tub, and a firepit. Whether you're spending a summer day with family or enjoying a cozy winter evening by the fire, this property has something for everyone. Inside, the home features hardwood floors, an updated kitchen with modern appliances, a comfortable living room, and a dining area. Up the spiral stairs, you'll find three bedrooms, including a primary bedroom with a large walk-in closet. The new wood stove is incredibly efficient and can heat the entire home, while the downstairs offers plenty of space for relaxation, a newly tiled shower in the bathroom, and laundry facilities. The property also includes a workshop with access to the front yard, making it a great space for DIY projects or hobbies. A pole barn. A storage shed. Situated in Joe Rich, this acreage offers an excellent location directly on the school bus route, with pick-up at the end of the driveway. Additionally, it's only a 25-minute drive to the world-class Big White Ski/ Bike Resort. This property truly has it all. Don't miss out on the opportunity to own this fantastic piece of land in a desirable location. (id:2493)

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The Myth of Renting vs. Buying in Kelowna: A Closer Look

Welcome to another deep dive into Kelowna's real estate scene! Recently, there's been a buzz around the notion that renting might be more financially savvy than buying, particularly if you invest the difference between a mortgage payment and what you'd pay in rent. While this theory has its academic appeal, let's unpack why it might not always translate into real-world advantages, especially in Kelowna.

The Theory: Rent and Invest

The argument is enticing: take the difference between your rent and what you'd pay on a mortgage, and invest it. In theory, this could lead to wealth accumulation through investments while enjoying the flexibility and lower upfront costs of renting.

The Practicality: Human Financial Habits

However, this strategy relies on several assumptions:

  • Investment Consistency: The theory assumes that most Canadians would consistently invest this difference. However, only about 20% of Canadians save regularly, suggesting that sticking to an investment plan might be challenging for many.

  • Life's Unpredictability: Emergencies like job losses or health issues could force even the most disciplined to dip into their investment funds. Without the equity of a home, recovery can be slower.

  • Temptation to Spend: It's human nature to sometimes indulge in splurges. The money meant for investment might not always make it into investment vehicles, especially when it's not locked into property equity.

Kelowna's Real Estate Market Context

Let's contextualize this with Kelowna's specific market dynamics:

  • Property Appreciation: Kelowna properties have historically appreciated, with homes often seen as solid investments. The median home price here is around $815,000, with luxury properties exceeding $5 million, showing potential for significant wealth growth.

  • Rental Prices: The rental market in Kelowna is robust, with two-bedroom units now averaging around $2,050 per month. Sometimes, renting can be just as expensive, if not more so, than monthly mortgage payments, especially with low interest rates.

  • Investment vs. Real Estate: The investment return from stocks or other assets doesn't always outperform real estate in Kelowna, where properties offer both capital gains and potential rental income.

Long-Term Considerations

Buying a home in Kelowna isn't just about immediate financial gains:

  • Building Equity: Over time, as you pay off your mortgage, you're investing in an asset that can appreciate, offering not just a place to live but also future financial security.

  • Stability and Community: Owning a home can provide a sense of permanency, fostering deeper community ties and personal investment in your environment.

  • Tax Advantages: Homeowners can benefit from tax breaks, like capital gains exemptions on their primary residence, which are significant in Canada.

Conclusion

While the "rent and invest" approach has theoretical benefits, its practical application in Kelowna might not be as advantageous for everyone. The city's real estate dynamics, alongside the general trend of lower savings rates among Canadians, make homeownership a potentially more secure path to building wealth. If you're contemplating whether to rent or buy, consider your long-term financial goals, your personal saving habits, and perhaps seek advice from local real estate experts like myself. Remember, every decision in real estate is unique, much like the individuals making them.

Stay tuned for more real estate insights from the heart of Kelowna!

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