Navigating the New Era of Short-Term Rentals in British Columbia

Here in Kelowna, at the heart of the Okanagan, we're witnessing a pivotal shift as 2024 ushers in substantial legislative changes to the short-term rental market. At Goldilocks Estates, we're dedicated to delivering straightforward and practical insights to help our community of young professionals, first-time buyers, homeowners, and investors navigate these changes with confidence and clarity.

Purpose and Scope of the New Legislation

Effective May 1, 2024, the BC government's new short-term rental rules restrict short-term rentals to only principal residences and one additional unit. This measure aims to increase the availability of long-term rental properties in Kelowna,…

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Okanagan's Most Spectacular Light Displays.

 

Welcome to a winter wonderland at Goldilocks Estates! As we enter the second week of December, the holiday cheer is in full swing. We’ve compiled a list of the Okanagan’s top light displays to make this season truly magical. So, grab a cup of hot cocoa, play your favourite holiday music, and let's set off to explore!

The Iconic Tree of Hope in Kelowna

The Iconic Tree of Hope in Kelowna stands as a stunning, 120-foot symbol of the holiday season, adorned with 25,000 bulbs. While the holiday market event at the Tree finished in November, it remains a beautiful sight in the Landmark neighbourhood along Harvey Ave until January. It's perfect for a quick, festive drive-by or a walk with some hot…

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Prime Commercial Space in Westbank, BC - Perfect for Diverse Businesses!

Unit #101B, 1979 Old Okanagan Highway, Westbank, British Columbia | MLS® 10300699

We're thrilled to present a fantastic opportunity for businesses seeking a strategic location with excellent visibility. Located at Unit #101B, 1979 Old Okanagan Highway, Westbank, British Columbia, this property offers a blend of modernity and convenience.

Property Highlights: Discover the Unique Features of this Westbank Gem:
  • Lease Terms: This property is available for immediate lease and priced well at $18.00 per sq.ft.
  • Space and Design: A generous 1,595 sq. ft. of ground floor, open-concept space. It features two washrooms, a small bistro kitchen, storage, and even a…

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Exciting news awaits Okanagan strata real estate purchasers! 

An announcement has just been made, introducing new regulations for minimum contingency reserve fund (CRF) contributions for both BC Strata Corporations and Owner Developers. These updates, effective from November 1, 2023, have far-reaching implications for the management of strata properties in Kelowna.

Minimum CRF Contributions by the Strata Corporation:

Starting November 1, 2023, strata corporations and sections are now required, as per Order in Council No. 32, to allocate a minimum of 10% of their annual operating fund to the contingency reserve fund. This policy shift makes contributions mandatory on an annual basis, regardless of the current CRF balance.

This change…

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The British Columbia rental sector has been in the spotlight recently, thanks to some significant legislative shifts.  If you've been curious about what this means for you and your investments here in the Okanagan Valley, you're in the right place. 

A Closer Look: BC Addresses the Short-Term Rental Surge

Airbnb, VRBO, and similar platforms revolutionized the way we vacation. However, their rise led to an unintended consequence: a shift from long-term housing options to short-term stays. For instance, Kelowna experienced an 89% increase in short-term accommodations since 2020. This shift made settling in the Okanagan a challenge for many. Fortunately, recent legislative measures aim to brighten the prospects for long-term renters by offering more…

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Embracing Opportunities in the Okanagan Real Estate Market

In this ever-evolving market, it's natural to feel hesitant when considering selling or buying a new home. However, it's crucial to remember that every change brings new opportunities. By shifting your perspective and focusing on the positive aspects of the current market, you can navigate with confidence and make informed decisions. In this blog, we'll delve deeper into the strategies for success in both buying and selling in the Okanagan region this fall.

The Buyer's Arena: Strategies for Success

Now is an opportune time to explore the varied properties available in the Okanagan. By being proactive, you're not merely reacting to the market's ebbs and flows; you're positioning yourself…

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As the landscapes of the Okanagan come alive with the arrival of summer, so does the risk of wildfires.

It's imperative for responsible homeowners like you to take proactive measures to safeguard your home. In this blog, we will explore essential home insurance tips to consider during the current wildfire season, ensuring you have the coverage and peace of mind you need.

  1. Review Your Current Home Insurance Policy: The first step in preparing for wildfire season is to thoroughly review your existing home insurance policy. Understand the coverage limits, deductibles, and exclusions, especially regarding wildfire-related damages. Consult your insurance provider to clarify any uncertainties.

  2. Assess Wildfire Risk in Your Area of the…

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Are you planning a summer adventure in British Columbia?

Look no further than the Okanagan Valley! As a local realtor in Kelowna, BC, I'm excited to share with you the inside scoop on the absolute must-do activities that will make your weekend truly unforgettable. 

First things first, let's beat the summer heat at the beach. Brace yourself for scorching temperatures because summers in the Okanagan are known to sizzle. Luckily, the region offers a variety of beaches where you can cool off and have fun. Dive in and experience the thrill of boating, kayaking, paddleboarding, or jet skiing.

 

Okanagan Lake, Kalamalka Lake, and Wood Lake are just a few of the spots where you can indulge in your favorite water-based adventures. Here in Kelowna,…

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Central Okanagan Rental Investments: Opportunities for Financial Growth

Hello everyone, welcome back to my blog! Today, I'm excited to share some valuable tips on rental investments within Central Okanagan. These are some of the most beautiful and desirable areas in British Columbia, Canada, and they offer great opportunities for investors who want to generate passive income and build wealth. Let's dive right in!

Rental investments are marvelous opportunities that allow you to purchase properties and rent them out to tenants. The possibilities are diverse, ranging from single-family homes, condos, and townhouses to apartments, cottages, cabins, and even RVs.

The greatest allure of rental investments lies in the steady cash flow they generate.…

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Welcome to the Okanagan, a place of diverse landscapes, rich culture, and unparalleled experiences.

As you explore this region, you'll notice distinct differences between the Central, North, and South Okanagan regions. While all three areas offer spectacular natural beauty, there are unique features that make the Central Okanagan stand out. From the bustling city of Kelowna to the charming communities of West Kelowna and Lake Country, the Central Okanagan is a hub of activity and excitement. Let's explore what makes this area so special. 

With a population of over 220,000 people as of 2021, Central Okanagan is the most urbanized of the three subregions. At its heart lies Kelowna, the largest city in the Okanagan Valley. This vibrant city is a…

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