Childproof Your Home: Kelowna Real Estate

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Protecting your child in your Kelowna real estate is important. It is essential to childproof your Kelowna real estate to ensure your little ones are safe in your home. First off, keep in mind that every child is different. Some babies like to climb, some like to pull themselves up on items in your Kelowna home and others like to open anything they can and pull all the items out! Regardless of what your baby likes to do, here are some helpful tips on how to childproof your Kelowna home!

Mounted TV’s

two men mounting a tv to the wall

Mount your TV’s

First off, TV’s in your Kelowna real estate. With the amount of time we spend with our little ones watching shows or having a family movie night, it’s time to ensure that your TV is properly secured. The best thing you could do is mount your TV on the wall. This keeps your TV high and up out of the child’s way. The last thing you want is in the middle of a movie, your little one to pull the TV towards them!

Secure your cabinets

Next up is your cabinets. This could be bathroom cabinets, kitchen cabinets, or even drawers in your bedrooms. It’s no surprise that children will try and get into anything and everything that they can. There are plenty of items you can purchase to secure your cabinets and keep them closed. Most importantly, keep your cabinet with harmful liquids such as cleaning supplies out of reach of your children! We’ve even seen parents put their cleaning supplies in a closed container inside a cabinet just in case their little one gets in! Don’t forget to also fasten any dressers or heavy furniture to your walls to ensure they don’t fall forward!

toddler sitting in front of electrical outlet in Kelowna real estate

Cover up your electrical outlets

Electrical Outlets in your Kelowna Real Estate

Last but certainly not least is electrical outlets. There are so many stores that carry electrical outlet covers for a great price! Outlets are normally within a baby’s reach, making it easy for them to get hurt. Be proactive, cover them up now before an accident happens!

If you are ready to make the step and purchase Kelowna real estate, contact our team at Quincy Vrecko and Associates. Our team of dedicated agents wants to ensure you make the best investment for your family! One of our knowledgeable real estate agents will help you find the perfect Kelowna home to suit your needs. All you have to do is pick up the phone to start your home search today. Call 1-778-760-2860!

Strata Fees and What do they Include?

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Condos and townhomes are growing in popularity so it’s important to understand what strata fees include.

Condos and townhomes are not only the top home choices for first-time buyers but are a great option for empty nesters and professionals. Proximity to amenities makes them perfect choices for a wide range of buyers. They also require little-to-no maintenance – potentially a great combo for fresh homebuyers who may not want to take on the potential work inherent with a traditional Kelowna home. But with condos and townhomes come something extra – strata fees!  Scary words if you ask most. What are they even for? Strata fees are, at the very least, misunderstood.   Fortunately, it’s not nearly as scary as you may think.  Let’s take a look at exactly what strata fees are and what they include.

How are Strata Fees calculated?

electric bill included in strata fee

How are strata fees calculated?

Every condo owner pays a pre-set, monthly fee. The amount is based essentially on the size of your unit (square footage) and generally does not take into account deck space or parking spaces.  For instance, we recently sold a Kelowna penthouse that had a 1,100 sq ft rooftop patio – and the owner doesn’t pay any more in strata than someone with a 200 sq ft deck.

As far as what constitutes the actual monthly amount, factors are divided into three main categories:

  1. Utilities and Insurance
  2. Common Area Maintenance
  3. Reserve Fund.

Strata Fees: Utilities

The condo fee goes to utilities such as water, sewer, common area heat, and A/C, and sometimes heat in the individual units. Many new Kelowna condominiums are built with individual heat pumps that are controlled and paid for by individual owners. As in detached Kelowna homes, there are many ways to heat and cool your condo, so make sure you’re clear on your strata fees before you buy.  Inclusions like heat & A/C can have substantial impacts on the strata fee, so when perusing Realtor.ca or looking over listings sent by one of our QVA agents, be cognizant of too-high or too-low strata fees – as the old saying goes, when something is too good (or bad) to be true…

Rule of thumb: generally you’ll be responsible for your own electricity and cable, and all other utilities will be covered by the strata fee.  Bonus: strata corporations are required to hold insurance policies, including fire, etc for the entire building, so by default your insurance is covered by the strata fee as well.

Strata Fees: Common Area Maintenance

We’ve already mentioned that condo ownership means fewer hours on the roof and mowing the lawn. But somebody’s got to do it, right? Fortunately, all maintenance and repair of common areas is covered by the strata fee.  They also cover snow and garbage removal, cleaning of common areas, exterior window washing, parkade cleaning, and so on.

Overall, the more amenities your Kelowna development has, the higher the fees will be. Think pool, gym, and sports courts. For this reason, some people, who know they will never use a glamorous pool deck, may choose to move to a development with fewer amenities, and a lower strata fee.

pennies stacked up in a line

Strata Fees: Reserve Fund

Strata Fees: Reserve Fund

Finally, a portion of your condo fee is set aside in the Reserve Fund.  Every condo board must maintain a large savings account for big-ticket items that inevitably arise as the building ages, with the aim of avoiding extra expenses for the unit owners if something expensive does arise – roof & window replacement or re-paving the main driveway for instance.  In the case of an inadequate reserve fund, the strata board may elect to collect a Special Assessment. These are generally reserved for surprise or unknown issues that require immediate repair.  Each condo owner will be responsible for a portion of the repair, generally in line with the square footage of their unit.  This may sound like a good reason never to own a condo, but remember that owning any home will result in a surprise bill here and there.  Hot water tanks don’t last forever!

So there you have it.  Make sure you incorporate the condo fee into your budget. Also, make sure to leave a buffer in case your condo fees increase. Any increases are at the discretion of the condo board. Be sure to attend every meeting and vote on the important stuff.

If you are looking for strata homes in Kelowna, contact the team at Quincy Vrecko and Associates.  They will guide you through the process of purchasing a home in Kelowna.  They will make sure your investment in a condo or townhouse will benefit you for the years to come.  Read the top reasons why you should work with Quincy Vrecko and Associates on your next purchase.

Top 3 Luxury Waterfront Home Sales in Kelowna for 2017

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2017 was an amazing year for luxury real estate in Kelowna. The top three luxury waterfront sales in Kelowna for 2017 all sold for over 5 million dollars. Let’s take a look into what the three registered luxury waterfront sales were for 2017. We have broken it down into Kelowna, West Kelowna, and Lake Country.

5570 Lakeshore Road – Kelowna, BC

luxury waterfront home located in Kelowna

5570 Lakeshore Road – Listed with Caldwell Banker Horizon

First up is 5570 Lakeshore Road in Upper Mission. This luxury home in Kelowna sold for $5,975,000 after 274 days on the market. This little piece of paradise features over 500 feet of private waterfront and is set on 3.18 acres of privacy. Sandy Beach, a licensed dock, and boat moorage are just a few key features of this waterfront luxury home. This luxury property features a main home and a secondary home perfect for visiting family, or guests both complete with 3-car garages. 

16414 Carrs Landing Road – Lake Country, BC

Next up is 16414 Carrs Landing Road located in Lake Country. This luxury home in Kelowna sold for $6,400,000 after 30 days on the market. An interesting fact about this home is that is it one of the only two in BC to be recognized by Global TV as one of the top waterfront properties in Canada. Proximity to the Okanagan Lake, and one of the finest lakeshore property in Kelowna. Featuring over 7500 square feet of living space, 6 bedrooms, and 7 bathrooms, you can not duplicate this internationally recognized private lakeshore home in Kelowna.

luxury waterfront home located in West Kelowna

1475 Pritchard Drive – listed with Caldwell Banker Horizon

1475 Pritchard Drive – West Kelowna, BC 

Last but certainly not least is 1475 Pritchard Drive which sold for $7,000,000 after 152 days on the market. This luxury waterfront home is located in West Kelowna and is less than 20 minutes from Downtown Kelowna. The outdoor living area is complete with a saltwater pool, hot tub, outdoor kitchen, and 284 feet of beachfront on Lake Okanagan. This luxury home features 5 bedrooms, 7 bathrooms, and over 4500 square feet of living space. Vaulted ceilings, open concept, breathtaking views, and a kitchen with high-end appliances are just a few features of this luxury waterfront home.

For more information on these top three luxury waterfront homes sold in Kelowna or any luxury real estate listings, contact Quincy Vrecko. Quincy Vrecko is a luxury real estate agent. He has over 28 years of experience in luxury sales. Whether you are looking for a luxury waterfront home, penthouse, or luxury real estate, Quincy is knowledgeable in all aspects of the luxury real estate market and can assist you with your next luxury home purchase today. When you are purchasing luxury real estate in Kelowna, work with a professional who knows the luxury real estate market. Call Quincy directly, at 1-250-863-8810!

Kelowna Real Estate: How to Budget for Kelowna Home Renovations

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Sometimes the hardest part of renovating your Kelowna home is figuring out how to budget properly. You have endless ideas of how to update the kitchen, add a bit of color to your family room, or rip out the carpet in the hallway but it all boils down to “how much is this going to cost?” If you are looking to do a Kelowna home renovation and are looking for ways how to budget properly, check out our top three tips and tricks.

Do your Research and Establish a Budget

couple planning their Kelowna home renovations

Do your research

One of the easiest ways to budget for your home renovations is by setting a budget in the first place. Here is the hard part… stick to it!! Every small thing you add can and will slowly add up in the end and you will end up way over what you initially budgeted for. Do your research on items you want to update and find out approximately what the renovations are going to cost. Stick to that plan and don’t go way over your budget because you see a set of handles for your doors that would look way nicer but are an extra $20 a handle.

Get Quotes for your Kelowna Home

Once you have an idea of what kind of things you want to update in your home, contact a company to get you a quote. If you have an idea of what you want, it will be way easier to quote you on the project. Don’t go to just one company, try to find three quotes for each project. For example, find three painters, three tile installers, etc. This will give you variety and will help when you are trying to stick to a budget.

painters in Kelowna home

Account for hidden costs

Account for Hidden Costs

When we budget for home renovations down to the penny, we often forget to add in some extra money just in case. Sometimes what can happen when renovating is you discover a hidden issue that has to be fixed. Most of the reason home renovations end up costing you more is due to those little hidden issues that arise during the middle of a renovation. To help with this, budget 10-20% of your budget towards unforeseen costs.

If you are in the process of beginning your home renovations, contact one of our Kelowna real estate agents first! Renovations can add value to your Kelowna home if done properly. We want to ensure that the money you are investing in your Kelowna home will only help you when it becomes time to sell. Speak to one of our knowledgeable real estate agents at Vrecko Real Estate Group today. Call 1-778-760-2860!

Kelowna Real Estate: New Mortgage Rules for 2018

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It was just recently announced that new mortgage rules will be coming into effect starting January 1st, 2018. Many of our Kelowna homebuyers have been asking “How will the new mortgage rules for 2018 affect me?” In October, the Office of the Superintendent of Financial Institutions (OSFI) released its new guidelines called B-20. This was created to establish new guidelines which included the stress test.

If you have been trying to decide if this is the right time to buy or sell, this change in mortgage regulations could be a good signal that the time is right now. – John Antle of John Antle Mortgages

Why the sudden change to the mortgage rules?

coins in a jar in front of a toy sized home

Why the sudden change?

Over the last 10 years, Kelowna real estate has grown substantially. This is a great sign when all other variables grow at the same rate. What we do not want to see is the price of homes increasing at a rapid rate and causing chaos in the Kelowna housing market. Simply what the government is trying to do is keep home prices at an affordable rate while keeping real estate supply and demand in check.

What can we expect to see for the Kelowna real estate market in 2018?

It’s hard to predict what the Kelowna real estate market will do with the new mortgage rules taking place in

graph of real estate trends

What will the Kelowna real estate market do?

January of 2018. The OSFI has announced that all homebuyers interested in taking out a mortgage for Kelowna real estate will have to qualify for a mortgage that is 2% points higher than what they are currently applying for. This only applies to homebuyers who do not have a downpayment of 20% or higher and do not require mortgage insurance. We expect that the housing market will continue to be steady we will just see an increase in a different part of the market. For example, people looking to purchase a $500,000 home may now be looking at a smaller home or condominium.

With the new mortgage rules coming into play in just over 2 weeks, it is important to work with a Kelowna real estate team that understands the market. A Kelowna real estate team that knows the ins and outs of the market is Vrecko Real Estate Group. Our dedicated team of real estate professionals is knowledgeable in the Kelowna real estate market and can assist you with your next Kelowna home purchase. Call 1-778-760-2860 today!

 

Top Waterfront Communities in Kelowna

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Kelowna is a beautiful city, there is no doubt about that! What makes Kelowna so unique and beautiful? The Okanagan Lake! Okanagan Lake is over 130 kilometers long and approximately 4 to 5 kilometers in width. You can also enjoy over 30 stunning local beaches. Kelowna is in no shortage of great waterfront communities right on Okanagan Lake. What makes each waterfront community different? How do you know what waterfront community will fit your lifestyle? Well, let’s take a look at each of Kelowna’s waterfront communities. Let’s find the perfect fit for you. Follow our new series detailing the features of these unique areas of Waterfront in Okanagan. First up Kelowna north to Hobson Road.

Waterfront Communities in Kelowna, Abbott Corridor

Home listed with Jerry Geen – RE/MAX Kelowna

Abbott Corridor

Are you looking for a waterfront home in Kelowna with some historic charm? If so, the Abbott corridor is perfect for you! This waterfront community is located in the Heritage District of Kelowna.  The Abbott Corridor features local sandy beaches and new walking and bike paths making it pedestrian-friendly. In this Kelowna waterfront community, you will find flat lots that are very close to Downtown Kelowna. This waterfront community is in the Heritage Conservation area. This means if you love the older look of a Kelowna home, this waterfront community is where you should plant your roots.

Downtown and Kelowna North

The northern part of the waterfront in Downtown Kelowna is dominated by deep water. If you require deep moorage options, then Kelowna North is the waterfront community for you. Instead of sandy beaches, Kelowna North features steeper shorelines. This means your lot sits higher up. You get the luxury of privacy! On the flip side, on Manhattan Drive, also located in Downtown Kelowna, you will find flat lots and closer to the Downtown Core. Depending on what style of waterfront community you are looking for, Kelowna North has options to suit your lifestyle.

Hobson Road

Waterfront home located on Hobson Road

4264 Hobson Road – Previously listed with Quincy Vrecko and Associates

Now if you are looking for one of the most elite postal codes in Kelowna, then Hobson is your waterfront community. These estate-sized lots are some of the most expensive waterfront homes in Kelowna. Hobson has deeper moorage options as well. If you are searching for a waterfront community where you can walk out of your back door and step into Okanagan Lake, this prestigious waterfront community is the perfect fit for you.

For detailed pricing for each of these waterfront communities and a list of waterfront properties for sale in Kelowna, contact Quincy Vrecko. Quincy Vrecko is a luxury real estate agent with Quincy Vrecko and Associates RE/MAX Kelowna. Quincy Vrecko specializes in selling Waterfront homes and luxury properties in the Okanagan. With over 28 years of luxury sales experience, Quincy is knowledgeable in the luxury real estate market. Quincy can assist you with your next Kelowna waterfront home purchase. For up-to-date information on the Kelowna waterfront luxury real estate for sale, contact Quincy today. Call 1-250-863-8810!

Hottest Indoor Activities for Winter in Kelowna

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Well, the snow has officially made its appearance. Looking at the weather forecast, it looks like the snow may be here to stay! With the cooler weather, it’s often hard to find things for your little ones to do that’ll keep them out of the cool weather and into warm weather! Yes, we all wish we were going on a hot vacation and sitting on a beach bathing in the warm summer heat. This winter in Kelowna, have a few fun activities up your sleeve for your little ones to do if the weather stops you from going outside!

Create an Indoor movie theatre

three children sitting in indoor movie theatre

Create an indoor movie theatre

Don’t let winter in Kelowna get you down! Create an indoor movie theatre in your Kelowna home. If you are looking for an inexpensive and fun idea for you and the family, this is it! Start by gathering the little ones, this one will for sure help set up! Grab blankets, pillows, and whatever else you may need to assemble this indoor movie theatre. Pick a movie the whole family will love and enjoy this time that you have with your little ones!

Fire and Hot Chocolate

The best part of this weather is cozying up to the fireplace and grabbing a nice hot cup of cocoa! This is probably the hottest indoor activity and we mean it! You can do plenty of things while sitting by the fire with hot chocolate. Play a game with your family, share fun memories of 2017, or just sit and enjoy the beautiful fire and time spent with family in your Kelowna home.

family baking until winter in Kelowna is over

Bake until Winter in Kelowna is over!

Bake until winter in Kelowna is over!

One way to heat your Kelowna home and warm some of your little one’s bellies is by baking! There are so many different things you can bake to keep your home warm and make winter in Kelowna go by quickly! Check out Pinterest for great recipes for holiday baking! This is a fun way to get the family together. Have fun decorating cookies or eating freshly baked brownies… don’t forget to share!

Winter in Kelowna is officially upon us! Don’t let the cool weather get you down. Try one or all of these hottest indoor activities with your family this winter. Enjoy the next few months of cool weather and snow. Spend time with your little ones, enjoy family time, and keep warm in your Kelowna home.

If you are looking to relocate to Kelowna, contact the team at Quincy Vrecko and Associates. Tracey Vrecko is an experienced real estate agent. She has years of experience selling Kelowna real estate and is ready to assist you with your next home purchase. Call Tracey today at 1-778-760-2860!

Smart Saving Tips: Save Your Down Payment

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Are you beginning the process of finding your first home? First things first, the biggest thing you need to worry about right off the bat is… down payment!! Are you looking for different ways on how to save for your down payment? Do you want to begin the process of purchasing your first home? Then, you’ve come to the right place! Our team has come up with these great smart saving tips to get you started in this home-buying process.

Open a bank account

person working at computer opening up a new bank account

Open up a separate bank account to show what you have saved

First things first, open a separate bank account.  Start by separating your bank accounts, you can clearly distinguish what is being put aside for what. If you use one bank account for all of your savings, you could hit the goal amount but empty your savings. This will then in turn leave you nothing for emergencies. Keep things separate!

Prioritize!

Are you a serious buyer? Have you become very motivated to purchase your first home? Then, it is time to prioritize. It is time to put aside money you would be spending eating out, shopping, and going out on a weekend towards your down payment. You would be surprised as to how much money you can accumulate if you put that money towards your down payment rather than spending it elsewhere.

Pay off your Debt

calculating debt that is owed on a calculator

Pay off existing debt before saving for a down payment

You can’t save money in your bank account if you are also stacking up interest on a credit card. When you are trying to put money aside, consider paying off your high-interest credit cards first. This will then in turn pay off your debt and also put you in the positives for savings! You are almost ready to purchase your first Kelowna home! 

If you are ready with your down payment and are eager to begin now the search for your Kelowna home, contact the knowledgeable real estate agents at Quincy Vrecko and Associates. We are a team of highly trained professionals with strong negotiating skills ready to help you find your first Kelowna home. Contact us today at 1-778-760-2860!

The Process of Selling a Kelowna Home

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This past week we wrote a blog on the process of buying a Kelowna home, so to do a follow-up, the team at Quincy Vrecko and Associates have outlined the process of selling a Kelowna home. If you are in the market to sell a Kelowna home, we’ve got great tips for you!

Couple standing beside a sold sign of a home with keys in hand

Hire a Kelowna Realtor

When you start to have thoughts of putting your Kelowna home on the market, it’s time to think of what Kelowna realtor you will hire. If you are going back and forth about whether you should hire a Kelowna realtor or do it yourself, check out, why should I hire a Kelowna realtor.

Prepare your Kelowna Home for Sale

One of the most important steps in selling a Kelowna home is preparing it. Preparing your Kelowna home for sale will not only attract buyers but could result in a great sale. Some ways you can prepare your Kelowna home for sale are,

  • Boost your curb appeal

  • Get rid of unnecessary clutter

  • Hire a professional staging company

Sign your Paperwork

Similar to a home-buying process, you are just signing the paperwork to list your Kelowna home. Your Kelowna realtor will go through all the necessary paperwork needed to list your Kelowna home. If you have any questions, ask away. This is your time to familiarize yourself with all of the contracts and paperwork!

Schedule an Open House

The first two weeks your home is on the market tend to be the busiest. That is why it is important to have your Kelowna realtor do an open house within the first few weeks of your Kelowna home hitting the market. You will attract the most potential buyers at once and can in turn drive a sale!

Accept an Offer

Congratulations! You have received an offer on your home. First things first, review the offer with your Kelowna real estate agent. You want to make sure you look over every page to ensure that you know exactly what the offer entails. Once you have accepted the offer, the buyer will go about removing subjects and you can just sit and wait for the good news!

SOLD!

The best thing to hear from your Kelowna real estate agent is, “They have removed subjects, congratulations, your home is now sold!”. We are so happy for you and for the next adventure, you are about to partake in. Now, start packing, cleaning, and decluttering so you are ready to go for your next home!

The process of buying and selling a Kelowna home can be quite different but one thing is common, you’ll need a great Kelowna real estate agent to help with your sale. Tracey Vrecko from Quincy Vrecko and Associates is ready to get your home SOLD! Call Tracey to begin the home selling process today, at 1-778-760-2860!

 

Why Should I Hire a Kelowna Realtor

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You’re getting ready to sell your Kelowna home and the thought hits, Kelowna realtor or private sale? Trust me, we get it! The thought of how much money you can save starts going through your head. The vision of selling your home privately is starting to sound more and more appealing. Well, we’re here to tell you the truth about private sales and why we think you should hire a Kelowna realtor!

Professional Marketing

home with for sale in front of it

Professional marketing for your Kelowna home

You may get some action from posting a sign out front and putting ads in the local newspaper. On the flip side, when you list with a Kelowna realtor, you will obtain way more action from their professional marketing. Each listing at Quincy Vrecko and Associates will have an HD video/photos taken of their home and the newest in technology… a 3D Virtual Reality Tour. We don’t just pop a sign in front of your home, we are here to help market your Kelowna home to potential clients and the public.

It’s More Work

Most of you have a full-time job, raising kids, and trying to still have a social life. Selling a home takes time and that is why realtors have a full-time job doing it! Realtors have so much knowledge of the market as they study it daily and are here to guide you through the process of selling your home. Let’s face it, I can’t come into your position and become an expert, leave it up to us to help you get top dollar for your home!

small home with coins in front of it

You don’t save that much money

You don’t save that much money!

I bet you fell off your seat reading that point, but it is true! You may think, but I am not paying for commission if I am listing with a Kelowna realtor. I must be saving a ton of money by just doing it myself. Well, for one, it takes a lot of time to sell a home. It takes time in your day or organize showings and market your home. In most cases, a realtor can get you enough to cover their commission. Sometimes they also put more money in your pocket.

A Kelowna realtor who is willing to work hard to market your home is Tracey Vrecko from the team at Vrecko Real Estate Group Tracey can provide you with expert advice on the Kelowna market. She is here to make sure the process of selling your Kelowna home is as smooth and successful as possible, give her a call today at 1-778-760-2860!