What is a strata property and how does it affect buying in Kelowna?

A strata property in BC is a building where individual units are privately owned and shared areas are governed by a strata corporation. Most Kelowna condos, townhouses, and some resort properties are stratas. Buying a strata unit means you take on a share of the building's common expenses and rules. Before making an offer, your agent should help you review the strata minutes, financial statements, and depreciation report. For how a buyer's agent helps with this, see what a buyer's agent does in Kelowna.

In Kelowna, some strata buildings permit short-term vacation rentals and others do not. This affects both lifestyle and investment value significantly. The depreciation report tells you whether major repairs are expected and whether the contingency fund is adequate. These documents require careful review before you commit. Find a real estate agent in Kelowna who knows how to evaluate strata properties.