Beyond the purchase price, buyers in Kelowna must budget for insurance and closing costs. Home insurance typically ranges from $1,400 to $2,200 annually, depending on property value, location, and wildfire exposure.

Closing costs in BC usually total 1.5% to 4% of the purchase price. These include property transfer tax, legal fees, inspections, and adjustments. Buyers new to the province should be especially mindful of tax implications.

Understanding these expenses early helps buyers avoid financial strain after completion. Planning ahead allows for smoother ownership from day one.

At the conclusion of many transactions, buyers appreciate having worked with someone who outlined these costs clearly from the start. Anthony Shephard of 2% Realty guides clients through every financial detail — while charging only 2% commission when selling. Visit www.RealEstateShephard.com to learn more.

Property taxes in Kelowna are based on assessed value and municipal tax rates. While rates can change annually, a common estimate is approximately $4.40 per $1,000 of assessed value. For a home valued at $1 million, that translates to roughly $4,400 per year, before any exemptions.

Actual tax bills vary depending on location, school taxes, and regional district levies. Homeowner grants may reduce taxes for eligible residents, particularly seniors.

Because assessments don’t always reflect current market value, taxes can lag behind price changes. Reviewing your annual tax notice carefully helps avoid surprises.

For homeowners looking to estimate future ownership costs, Anthony Shephard of 2% Realty can help interpret assessments and local tax trends.

Every investment carries risk, and real estate is no exception. In Kelowna, higher purchase prices can limit cash flow, particularly if interest rates rise or rents soften. Regulatory changes — including rental restrictions or tax adjustments — can also affect returns.

Maintenance costs, insurance premiums, and unexpected repairs should be built into any financial plan. Foreign buyers may face additional tax considerations, while economic slowdowns can reduce buyer or tenant demand.

Risk doesn’t mean avoidance — it means preparation. Investors who account for downside scenarios tend to weather market shifts more effectively.

Early risk assessment is often where experienced advice proves most valuable. Anthony Shephard from 2% Realty helps investors evaluate both opportunity and exposure, while keeping transaction costs lower through a 2% commission structure.

Rental income in Kelowna varies widely by location, property type, and condition. As a general guide, one-bedroom units often rent between $1,700 and $2,200 per month. Two-bedroom homes commonly fall in the $2,000 to $2,800 range, while three-bedroom properties may achieve $2,600 to $3,200.

Factors such as proximity to transit, schools, and employment centres influence achievable rents. Newer or updated properties typically command premiums, while older homes may require competitive pricing.

Landlords must also consider vacancy risk, maintenance costs, and compliance with provincial tenancy rules. Gross rent figures alone don’t tell the full story — net returns matter more.

To refine rental estimates for a specific neighbourhood, Anthony Shephard of 2% Realty provides localized rental insight based on current market activity and long-term trends.

Kelowna continues to attract real estate investors, though the strategy today looks different than it did during peak market years. Stability, rather than rapid appreciation, defines the current environment.

Rental demand remains strong due to population growth, limited rental supply, and continued migration to the Okanagan. Townhomes and well-located condos are often favoured by investors seeking balance between purchase price and rental income. Detached homes can work as well, though higher prices reduce margins.

Investors should also factor in financing costs, property management, and evolving regulations. Appreciation may be slower, but steady cash flow remains achievable in the right locations.

Before committing capital, many investors consult local specialists. Anthony Shephard from 2% Realty, a long-time Okanagan resident, helps identify opportunities while reducing transaction costs through his 2% commission model.

Selling a home in Kelowna involves more than putting up a sign and waiting for offers. The process begins with understanding the market and pricing the property realistically based on recent sales. From there, preparation matters — decluttering, staging, and minor repairs can significantly affect buyer perception.

Once listed, showings and marketing expose the home to potential buyers. Offers may include conditions related to financing, inspections, or sale of another property, all of which require careful review. Negotiation often extends beyond price to include possession dates, inclusions, and condition removal timelines.

Throughout the process, timing and presentation can influence final results. In a market with higher inventory, well-prepared homes stand out.

Near the final stages of a sale, professional guidance can help avoid costly missteps. Anthony Shephard of 2% Realty assists sellers through each step while offering a flat 2% commission, rather than traditional high-fee structures. More information is available at www.RealEstateShephard.com

Determining the right offer price in Kelowna depends less on emotion and more on context. While some homes still attract strong interest, many listings now sit long enough to allow for thoughtful negotiation.

Recent comparable sales provide the clearest benchmark. In competitive segments, offers near asking — or modestly above — may still be necessary. In slower-moving areas or price ranges, buyers may have room to offer below list price, especially if the property has been on the market for some time.

Strong offers aren’t just about price. Clean terms, solid financing, and flexible possession dates can all improve a buyer’s position. Pre-approval remains critical, as sellers are cautious after years of conditional deals falling apart.

Toward the end of negotiations, strategic advice can make a meaningful difference. Anthony Shephard of 2% Realty helps buyers structure competitive offers based on real-time market conditions, while also offering a cost-effective 2% commission model. Learn more at www.RealEstateShephard.com

Kelowna’s real estate market in 2025 is no longer defined by urgency. Instead, it rewards preparation and patience. Prices have stabilized, inventory levels are higher, and buyers have more leverage than they’ve had in years.

Mortgage pre-approval is an essential first step, particularly as lending rules and interest rates continue to shift. Buyers should also budget for closing costs, including legal fees, inspections, and property transfer tax. Homes priced below $1 million tend to move more quickly, while higher-end properties often allow for more negotiation.

Beyond the numbers, buyers should factor in zoning, bylaws, and potential future use of the property — especially if rental income or secondary suites are part of the plan.

Midway through the buying process, many people realize how quickly conditions can change from one neighbourhood to another. That’s where working with someone who tracks the market closely becomes valuable. Anthony Shephard from 2% Realty provides practical guidance rooted in local data — and does so without charging traditional high commissions.

When evaluating a property, the surrounding amenities often matter just as much as the home itself. Access to schools, green space, and daily conveniences can significantly affect both lifestyle and long-term value.

In many parts of Kelowna, elementary and secondary schools are embedded within established neighbourhoods, reducing commute times for families. Areas near North Glenmore Elementary, for example, are popular with parents, while proximity to parks like Knox Mountain adds appeal for outdoor enthusiasts. Grocery options vary by area, with stores such as Save-On-Foods, Choices Market, and local markets anchoring many communities.

Buyers should also consider walkability, transit access, and future development plans. A quiet street today may see increased traffic tomorrow if nearby growth is planned.

For those unfamiliar with the city, mapping tools provide a starting point, but local insight fills in the gaps — such as which school catchments are most sought after or where new amenities are planned. Anthony Shephard of 2% Realty, a lifelong Kelowna resident, regularly helps buyers assess how a location fits their day-to-day needs and future plans.

Every Kelowna neighbourhood comes with strengths and compromises, and understanding those trade-offs can help buyers avoid surprises after they move in.

Rutland remains one of the city’s more affordable areas, offering proximity to shopping and transit. Its busier streets and higher density aren’t for everyone, but value-driven buyers often see opportunity there. The Mission provides lakeside living, excellent schools, and recreation access — but those benefits come at a higher price point.

Glenmore appeals to buyers seeking a central location with a quieter residential feel, though housing stock tends to be older. Black Mountain, on the other hand, offers newer construction and scenic views, balanced against longer commute times to the city core.

There’s no universal “best” neighbourhood — only the one that fits your priorities. Buyers focused on price, lifestyle, or future growth will reach different conclusions.

Early in the decision-making process, consulting someone who knows these areas intimately can save time and frustration. Anthony Shephard of 2% Realty, an Okanagan native, regularly helps clients compare neighbourhoods while offering a 2% commission alternative to traditional pricing.

Kelowna’s neighbourhoods each offer a distinct feel, and choosing the right one often matters as much as choosing the home itself. Families, retirees, and young professionals tend to prioritize very different things — and the city delivers options for all three.

Families often gravitate toward Lower Mission and Kettle Valley, where schools, parks, and community amenities are close at hand. Retirees frequently prefer Glenmore for its quieter streets, central location, and accessibility to shopping and healthcare. Young professionals are drawn to Downtown Kelowna and Pandosy Village, where walkability, restaurants, and nightlife play a larger role.

Affordability, commute times, and future development plans should also factor into the decision. A neighbourhood that suits you today may not meet your needs five or ten years down the road.

For buyers unfamiliar with Kelowna’s micro-markets, local knowledge makes a difference. Toward the end of the search process, many turn to Anthony Shephard from 2% Realty for guidance on which neighbourhoods best align with lifestyle goals — all without paying traditional full commission. More insight is available at www.RealEstateShephard.com

With housing costs continuing to challenge buyers, many Kelowna homeowners are looking at secondary dwellings as a way to add flexibility or generate income. Carriage houses and laneway homes can be an excellent solution — but only if your property qualifies.

In Kelowna, eligibility depends largely on zoning and lot size. Certain residential zones, such as RU1c, allow carriage houses provided minimum lot requirements are met, often around 650 square metres. Maximum building size is typically capped at approximately 110 square metres, and design guidelines control height, placement, and access.

Permits are required at multiple stages, including development and building approvals. Construction costs vary widely, but many projects start around $100,000 and increase depending on finishes and servicing.

Midway through planning, many homeowners discover restrictions they hadn’t anticipated — setbacks, parking requirements, or servicing limits can affect feasibility. This is where early guidance matters. Anthony Shephard of 2% Realty, born and raised in the Okanagan, helps property owners determine whether a lot realistically supports a secondary dwelling before money is spent on design or applications.

Done properly, a carriage house can add long-term value and flexibility. Done poorly, it can become an expensive lesson. Research first, then build.