New Condos Kelowna BC For Sale
New developments Kelowna is what you will find on this page. Please note that the Kelowna presale condo projects offered below are updated for 2023. Read more…
Kelowna BC Information
Kelowna is located in the Okanagan Valley in British Columbia, Canada. It is situated in the province’s southern interior region and is the Okanagan’s largest city. Known for its stunning natural beauty, huge amount of green space, recreational opportunities, and thriving wine industry, Kelowna is a popular destination for tourists and residents.
The third-largest metro area in the province, Kelowna BC is more than just the original town. The sunny, laid-back city on Okanagan Lake has greatly expanded, boasting several hip neighbourhoods such as West Kelowna, the North End, Lakeshore, and North Kelowna. Kelowna, as well as its cousin Penticton on the other end of the lake, is a stone’s throw from golfing, wine, cider, craft beer tasting, and cycling the reclaimed Kettle Valley rail line. Kelowna easily sells itself as one of the best places in North America to live.
Kelowna Presale Information
Kelowna presale condos are in high demand.
Kelowna is one of the fastest growing cities in BC, which saw the population go from 119,388 in 2016 to 136,290 in 2021 for a 14.2% gain during this time.
This Okanagan city is becoming known a hotspot for new homes and presales that offer the capital appreciation of Vancouver and the Fraser Valley with the high rental returns of Alberta.
New Condos Kelowna
New condos Kelowna take many forms. The city has presale high rise condos as well as new construction townhouses and townhomes that are currently starting to over take the traditional new build single family home.
Kelowna Real Estate Market Statistics
When investing in the new developments Kelowna has to offer or looking for your perfect dream home in the city, it is incredibly important to understand what is happening in the local real estate market. Kelowna is located in the Okanagan and is therefore part of that regional real estate board.
Please see the monthly real estate board statistics for Kelowna to get a clear picture of the overall housing market to be as informed as possible when purchasing in a new development.
New Developments Kelowna FAQ
1. What is a presale condo?
A presale condo refers to a property that buyers can purchase before its construction is completed. Buyers are essentially buying based on the developer’s plans and the promise of the finished product. For more detail, please have a look at our page on what is a presale condo.
2. Why should I consider buying a presale condo in Kelowna?
Presale condos allow a buyer to lock in at todays price but get delivery of a new property in the future at today’s price. Buying a property in a new development in Kelowna allows purchasers to choose the exact property they want. Additionally, buying presale may allow you to customize certain aspects of your unit, and you’ll be moving into a brand-new property upon completion.
3. How updated is the list of presale condos on this page?
Our list of presale condos in Kelowna is updated for 2023, ensuring you have access to the latest developments in the market. Also, keep in mind, you have new condo projects in your inbox weekly by joining our New Developments Kelowna VIP Email list. Click on this link to join.
4. Are there any risks associated with buying a presale condo?
Like any investment, there are risks.
Delays in construction, changes in the final product, or the developer encountering financial issues are some potential risks. It’s essential to research the developer’s reputation and read the disclosure statement thoroughly. Our New Condos Kelowna specialists at Vancouver New Condos can help review the developers disclosure statement and help to find the best developers.
5. Can I visit the site of a presale condo?
While you might not be able to visit the actual unit (since it’s not built yet), many developers set up show suites or presentation centers that showcase the design, layout, and quality of the finished product. We can also get you the address and location of the proposed new condo development so that you can do a drive by and have a walk about to get a feel for the area and the neighbourhood.
6. What is the average price of presale condos in Kelowna?
Pricing for a new development in Kelowna will vary based on the location, size, and amenities of the condo. Expect prices of between $900-1300 per square foot as of 2023. Our page provides a range of price for various developments to give you a better idea.
7. How does the deposit structure work for presale condos?
Typically, buyers pay a series of deposits that amount to a certain percentage of the purchase price. The exact structure can vary based on the developer and the project.
8. How much are deposits for Kelowna Presales?
Typically, deposits for Kelowna new developments are 20%, but sometimes can be as high as 30% for non-residents. Developers sometimes offer lower deposits sometimes as low as 5% or in some exceptional circumstances less than that.
9. Can I sell my contract for a presale condo?
Yes, this is known as an presale condo assignment. However, not all developers allow for assignment sales, and there might be fees involved. We specialize in these sales and can help with assigning your presale condo in Kelowna. Please contact us at 604-265-9356 to find out what we can do for you.
10. What happens if I change my mind after purchasing a presale condo?
In British Columbia, buyers have a seven-day “rescission period” after signing a presale agreement, during which they can change their minds. After this period, canceling the agreement might result in losing your deposit or facing legal consequences. For more details, please have a look at our detailed article on the 7 Day Rescission Period in BC.
11. Why is Kelowna a popular choice for condo investments?
Kelowna is known for its stunning natural beauty, recreational opportunities, and thriving wine and craft beer industries. Its growth and the increasing demand for housing make it a hotspot for real estate investments.
12. Confused by all the Presale Condo Jargon?
We have put to together this detailed glossary of real estate terms for presales in BC to help clear up the confusion.
13. New Condos Kelowna – What are the Pros & Cons of Buying?
We have have a detailed page on the pros and cons of buying a presale condo that is very applicable to new developments in Kelowna.
14. How do presale properties differ from resale properties?
Presale properties are those sold before their completion or even before the building has started construction, while resale properties are existing properties sold by the current owner. The purchasing process and benefits can vary between the two.
15. How can I find a reputable real estate agent?
Finding the right Realtor is crucial especially one that knows the Kelowna neighbourhoods you are looking in.
While we can assist with all your real estate needs across British Columbia, you can also check our article on how to find a good real estate agent for more insights.
16. What neighbourhoods of Kelowna does Vancouver New Condos cover for presales?
All of them!
We cover the following neighborhoods for presales in Kelowna: Upper Mission, Lower Mission, Downtown Kelowna, Dilworth, West Kelowna, Glenmore, North Glenmore, Kelowna North, Kelowna South, Lake Country, North Rutland, South Rutland, Quail Ridge, Springfield/Spall, University District, Wilden, and Southeast Kelowna.
We can also help with presale condo purchase outside of Kelowna in the Okanagan including Big White, Penticton, Oliver, Vernon, and Osoyoos.
Please note our Kelowna condo specialists can also help with an existing properties and have a deep knowledge of every building in Kelowna.
17. New Condo Developments Kelowna – Do they come with a warranty?
In fact new Kelowna condos and all presales across BC come with a 2-5-10 Warranty. Please check out our detailed post on the BC New Home Warranty.
18. Where can I get Floor Plans for New Condo Developments Kelowna has on offer?
We at Vancouver New Condos get floor plans to understand layouts for new condo developments in Kelowna far in advance of the general public and other Realtors and are able to share them upon request. Please contact us at 603-265-9356 or click on the yellow button on the top of the page.
New Condo Developments Kelowna – Ask a Specialist
We are currently taking on new clients in Kelowna for new construction homes.
New condo developments Kelowna is what we specialize in. We may be called Vancouver New Condos, but we have local Okanagan and Kelowna presale condo specialists available to assist with a purchase or answer questions.
Request presale pricing or floor plans or just want to ask a question?
Our local real estate professionals specializing in new condo developments Kelowna, all licensed Realtors in Kelowna, will be in touch to help. We have access to floor plans, pricing, and new development information and renderings, so feel free to reach out.