Your First Kelowna Condo? Avoid These 3 Costly Mistakes

Most first-time condo buyers in Kelowna think saving the down payment is the hard part. The real surprises are the BC closing costs, the taxes, and the strata details that never show up on the listing page, and any one of them can cost you the deal or thousands you didn't budget for. I'm Mark Walker, a Kelowna condo specialist who relocated here in 2013, and helping first-time and out-of-province buyers get their numbers and timeline right is a big part of what I do. In this video I walk you through the whole process from your first phone call to getting the keys. You'll see why your first call should be to a mortgage broker, how the property transfer tax and GST can change your numbers, what to watch for with parking and studios, and how the offer, subject period, deposit, and closing timeline really work in BC. TIMESTAMPS: 0:00 - Why the down payment isn't the hard part 1:01 - Fix the math first: call a mortgage broker 1:31 - The property transfer tax (PTT) surprise 2:16 - The GST trap on resale units 3:05 - The parking trap 3:55 - The studio trap 5:10 - Writing the offer and the subject period 6:08 - Reviewing the strata documents 7:25 - How the deposit actually works 8:22 - Closing timeline and monthly costs 9:43 - Insurance and the strata deductible 10:52 - The simple version If you want someone to walk through your specific numbers, timeline, and the buildings you're considering, that's exactly what I do, and I can point you to a few mortgage brokers if you don't have one yet. 📅 Book a Condo Consultation: https://tidycal.com/kelownacondos/con... 📱 Call or Text: 250-862-2541 Mark Walker | RE/MAX Kelowna #KelownaCondos #KelownaRealEstate #FirstTimeHomeBuyer #BuyingACondo #OkanaganRealEstate #KelownaRelocation What part of the process feels most confusing to you right now? Let me know in the comments. **The opinions expressed herein are solely that of Mark Walker, not RE/MAX Kelowna or the AOIR and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement. This is not financial advice.