There are many great Kelowna area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation
so you know what buyers will pay for your home in today's market. You
may also call me at 250-717-3133 for a FREE home buying or selling
consultation to answer any of your real estate questions.
Welcome to our final video blog of 2014! It's been a fantastic year for
real estate in Kelowna and we're looking forward to yet another great
year in 2015! Today, we continue to answer the questions many of you
have sent us recently.
What are some of the up-and-coming Kelowna neighborhoods in 2015?
The answer to this question comes from a magazine I subscribe to called Canadian Real Estate Wealth. According to them, Downtown Westbank is
poised to be the best area to invest in come 2015. The reason for this
is the revitalization of downtown, which is going to completely change
how that area is perceived and, of course, the value of those
properties. Whether it takes a year or five years for the revitalization
plan to be executed, anything in or around that area represents great
value.
Why don't more clients take advantage of the home renovation plan?
This is a really great question because I think this plan could
help a lot of people. If you have 10% to put down on a home you're
moving into, you can apply to have the bank put down an additional 10%
for uses such as new kitchens, bathrooms, finishing a basement -
anything that adds value. All you need is 10% of the property's value
when you buy and the bank will finance renovations that will ultimately
add tons of value to your property. If you can scrape together enough
money for that down payment and still want to renovate, this is a
fantastic option.
When doing a property flip, do you hire out the renovations or do them yourself?
This might be because I'm completely useless with a hammer, but I
always believe you should hire professionals to do your home
renovations. For one, you don't really end up saving a lot of money
because if the job is not a 10 out of 10, it's going to cost more money
in the long run once you go to sell it. Additionally, doing it yourself
can take three or four months, whereas a professional contractor could
probably get the same job done in two or three weeks! Lastly, while
working on home renovations yourself, you're costing yourself money by
taking time away from work!
We want to thank Leigh, Mike Huber, and Andrew for the fantastic
questions! If you would like to discuss these topics in more detail, or
have questions of your own, don't hesitate to reach out. I would love to
hear from you and make sure all of your questions are answered!
