The 5 Things You Need to Do Before Buying Your First Home in Kelowna

A Clear, Local Guide for First-Time Buyers in the Okanagan

Buying your first home is exciting, but it can also feel overwhelming. Rates, down payments, strata documents, inspections, legal steps, and timelines—there’s a lot to absorb.

The good news is that the process becomes far easier once you understand the five steps that actually matter.

As a Kelowna Realtor who works with first-time buyers throughout Glenmore, Rutland, Dilworth, Lake Country, Black Mountain, Lower Mission, Upper Mission, Downtown and West Kelowna, these are the exact steps I walk all new buyers through before we even book a showing.

Follow these, and you'll avoid most of the stress, confusion, and costly mistakes that new buyers typically face.

1. Get Fully Pre-Approved (Not Just Pre-Qualified)

This is the true starting point of the home-buying process in British Columbia.

A full pre-approval includes:

• Document verification

• Income and employment review

• Credit check

• Down payment confirmation

• Debt-to-income calculations

• A rate hold for 90–120 days

• A clear maximum purchase price

A proper pre-approval protects you from surprises and prevents you from falling in love with a home that’s outside your price range.

This is especially important in Kelowna, where price points vary widely:

• Glenmore townhomes: $550,000–$750,000

• Rutland detached homes: $725,000–$900,000

• Lower Mission detached homes: typically $1M+

• West Kelowna detached homes: $650,000–$950,000

• Condos downtown or near UBCO: $360,000–$550,000

Timeline: usually 1–3 days with a strong mortgage broker.

2. Understand Your Total Budget (Beyond the Down Payment)

Many new buyers underestimate the additional costs.

In BC, expect to plan for:

• Property Transfer Tax (PTT), unless exempt as a first-time buyer

• Inspection fees

• Legal fees or notary fees

• Appraisal costs

• Strata document review, if applicable

• Insurance

• Moving costs

Monthly carrying costs vary by property type. Detached homes have higher utilities and maintenance; condos have strata fees that range widely depending on age, amenities, and location.

Understanding these numbers upfront means you shop with confidence—not guesswork.

3. Define Your Must-Haves and Deal-Breakers

Kelowna isn’t one uniform market. Each neighbourhood offers different price points, amenities, traffic patterns, and lifestyle features.

Your search becomes far more efficient when you define:

• Preferred neighbourhoods

• Commute needs

• Number of bedrooms

• Need for a suite (common in the Okanagan for affordability)

• Comfort with renovations

• Whether a strata property is acceptable

A simple list of three must-haves, three nice-to-haves, and three deal-breakers keeps the search focused and prevents overwhelm.

4. Learn the BC Home Buying Steps

The buying process isn’t complicated once you understand the flow.

The BC home-buying sequence usually looks like this:

1. View properties

2. Submit an offer

3. Negotiate terms

4. Complete subject removal (inspection, financing, document review, insurance)

5. Finalize with your lawyer or notary

6. Complete the purchase and receive the keys

Completion dates in Kelowna commonly range from 30–90 days after the offer is accepted. Knowing this ahead of time makes the process predictable and calm.

5. Build Your Professional Team Early

A reliable team makes the entire experience smoother and protects your interests.

The essentials are:

• A Realtor who represents you—not the seller

• A mortgage broker who can explain all financing options clearly

• A lawyer or notary specializing in real estate

• A trusted home inspector

  
  

This matters even more in older neighbourhoods like Rutland and Lake Country, where older electrical systems, poly-B plumbing, and aging roofs are more common.

A good team ensures issues are identified early and prevents costly surprises.

The Key Mindset Shift for First-Time Buyers

Many buyers make the process harder by assuming their first home needs to be perfect.

It doesn’t.

Your first home is a stepping stone, not a final destination. Buying a solid, sensible first property positions you to build equity, gain experience, and move up in a few years.

A strong first purchase in Kelowna sets you up for long-term success.

Frequently Asked Questions

How long does it take to buy a home in Kelowna?

Most buyers complete the process in 45–120 days from first viewing to move-in.

How much do I need for a down payment?

In Canada, the minimum ranges from 5% to 20% depending on the price and property type.

Do first-time buyers get tax breaks in BC?

Yes. Some buyers qualify for the First Time Home Buyers’ PTT exemption up to specific price thresholds.

What are “subject clauses” in BC real estate?

Subject clauses protect buyers by allowing time to complete financing, inspection, insurance, and document review before a purchase becomes firm.

Do I need a Realtor to buy a home?

You can buy without one, but in BC, the buyer’s agent is typically compensated by the seller. Most buyers choose representation at no direct cost.

Why This Advice Works

I’ve lived in Kelowna my entire life and work with first-time buyers across the Central Okanagan every week. The guidance above is built from real experience, real transactions, and the questions I answer daily.

It’s designed to make the buying process straightforward, stress-free, and fully informed.

Get a Personalized First Home Game Plan

If you want a simple, customized roadmap based on your price range, goals, and preferred neighbourhoods, I can build one for you anytime.

You can reach me here:

Braden Koop

Personal Real Estate Corporation

RE/MAX Kelowna

250-801-8725

bradenkoop.ca