Home Buying Blogs – Kelowna

If you’re considering renting your vacation home on Airbnb in Canada, the rules aren't the same everywhere. While Airbnb is legal across Canada, each city has its own rules you need to follow.

Most places only let you rent out your primary home. Many cities require you to get a special permit. And yes, you have to report that extra cash on your taxes. Breaking these rules can cost you big money in fines.

Let's break down what you need to know before listing your place.

Quick Tips: What Every Canadian Airbnb Host Should Know

• Airbnb is legal in Canada, but each city has different rules
• Many cities only let you rent out your main home, not investment properties
• You'll probably need a business license or permit from your city
• You

Riparian rights are essential legal entitlements that you need to know about before buying a lakefront home. The laws determine what owners can do with their shoreline, including building docks, accessing water, and limiting others' use of the water directly bordering their property.

That dream of waking up to sparkling Okanagan Lake views might have you ready to buy a waterfront property as soon as possible. But hold on! Take some time to understand British Columbia’s riparian rights so you know exactly what is and isn’t yours when you buy.

6 Things to Know About Riparian Rights in BC

• You don’t own the water or lakebed—the government does
• Building into the lake requires special permission
• Natural shoreline changes can affect your

If you’re renting out an investment property or a second home, you'll need to fill out the T776 Statement of Real Estate Rentals. This form helps calculate your rental income and expenses for tax purposes. Getting it right means paying the correct amount of income tax—no more, no less.

Think of the T776 form as your rental property's financial report card. It shows the Canada Revenue Agency (CRA) exactly how much rental income you earned and what your net rental income (or loss) was during the tax year.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

7 Quick Tips to Stay on Top of Real Estate Rental Taxes

• Keep ALL receipts for repairs,

Everyone who buys or builds a home in Canada needs to know about interest rates. They make a HUGE difference in what you can afford and how much you'll pay over time.

You can think interest rates as the cost of borrowing money. When they're high, it costs more to get a loan. When they're low, you pay less. But there's a lot more nuance you need to understand. Let's look at what this means for you and how to make smart choices when shopping for a mortgage loan.

Quick Tips About Interest Rates

• The interest rate applied to your mortgage is based off the Bank of Canada interest rates.
• Interest applied to a loan means you may pay back a higher amount than what you borrowed. With property appreciation or rental income, you can break even or

Picture this: a home that’s built in a factory and delivered right to your land, ready to assemble. That’s the essence of a prefab home. These houses offer quicker construction times and are often cheaper than the average new-build home costs in Canada. However, they come with challenges, such as transportation costs. Explore the advantages and challenges of this modern housing option to decide if a prefab home is right for you.

Are Prefab Homes Worth It? 5 Things to Consider Before You Buy

• You'll save money upfront. Prefabs typically cost 10-25% less than traditional builds, but remember land costs aren't included—you buy that separately.
• They're built FAST. While regular houses take 7-12 months, many prefabs are ready in just 3-4 months.

Thinking about retirement in beautiful British Columbia? You might be wondering if you should pay off your house first. Getting rid of mortgage payments can free up a lot of cash each month, especially if you’re living in Kelowna or other markets where housing costs have climbed. But is it always the smart move?

Some financial experts say you might do better investing that money instead. There's no one-size-fits-all answer here. Your personal situation matters most.

Let's look at the pros and cons of paying off your home before retirement, and help you figure out which path makes more sense for you in BC's unique housing market.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding

If you’re buying a new construction home from a third-party builder in British Columbia, you’re guaranteed the protection of a new home warranty. BC law requires all new homes to have a warranty that acts as a safety net against surprise costs of fixing defects in construction, materials, and major systems. This mandatory new home warranty is completely different from home insurance, which covers damage from events like fire or theft.

Since new home warranties are required by law in BC, you don't need to wonder if you need this protection - it comes with your new home purchase. These warranties specifically protect against construction defects and premature failures, not just normal wear and tear. Let's look at exactly what these mandatory new home

The cheapest way to build a house is to make a careful budget, plan extensively, and make savvy choices. From simplifying your layout to thinking long-term, there are many ways to cut costs without sacrificing quality. If you’re eyeing new construction homes but need to keep costs low, use these practical tips to save money when building a house.

This is general advice. Always consult with a professional builder for cost-saving strategies tailored to your specific project.

4 Quick Tips For Building a Cheaper House

• Create detailed plans: Include land costs, materials, permits, and labour in your budget. Construction loans require a detailed cost breakdown for lender approval. If your planning takes a while, update your numbers when you get

Thinking about buying land in British Columbia? You're not alone. BC land values have grown faster than inflation for decades in many areas. But is now the right time to buy? Should you pick Vancouver Island or the dynamic Okanagan Valley? What about the risks?

Before spending your money, you need to know what makes BC land different from other investments. Location matters a lot—but so do many other factors that could make or break your investment.

Quick Land Investment Tips for BC (Save This!)

• BC farmland has seen annual appreciation ranging from 3% to more than 30%, with a province-wide 18.1% increase in 2021
• Recreational land near Whistler and Kelowna can cost more than 500% more than similar land in Northern BC
• Urban boundary

Want to buy land in Canada? Whether you're dreaming of building your perfect home, investing for the future, or just want a piece of Canada's beautiful countryside, buying vacant land is a smart move. 

Here's how you do it: check the title to confirm ownership, verify zoning to know what you can build, secure financing (you'll need a bigger down payment than for houses), test the land quality, and close the deal with help from a real estate pro. While it might seem complicated at first, the process is actually straightforward when you break it down. And unlike buying a finished house, land gives you the freedom to create exactly what you want. Let's walk through each step so you can buy with confidence.

How to Buy Land: 5 Quick Tips

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