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Kelowna New Developments - Priority Registration

May 19, 2021

Your Inside Look at What's On The Horizon in Kelowna Real Estate Developments

Let's talk about Priority Registration.

When new developments are on the horizon, potential buyers have the opportunity to priority-register for more info as it becomes available. This provides you with the first look at the concept, floorplans, community information and pricing. But, don't go at it alone - with so many choices on the market - we're here to help you find the RIGHT home, in the RIGHT location, from the RIGHT developer, at the RIGHT time, for the RIGHT price.

Generally, developments taking priority registration before sales open are well-away from buyers being able to move right in. If you're about a year or two away from wanting to move in (or take ownership if you're buying as an investment) then staying abreast of communities in this phase will be important.

That's where we come in. There are advantages and disadvantages to buying early in a new home community. As Darcy discusses in the video, one advantage of buying in early is PRICE. Often, developers need to secure so many home sales for financing, and with that can come pricing incentives. In addition, you get the benefit of your investment potentially rising with the market - - before you move in!

There are times when it might not be in your best interest to buy-in early. This includes if you have a fixed move-in date that you might need, interest rate holds that may not be guaranteed until Completion date- which could affect your
financing mortgage approval, if you're unfamiliar with the Developer, or your needs might change while you wait for the home to complete.

Occasionally, a development can have major delays (permitting, construction, financing) or may not complete at all.

Important Considerations When Considering Buying In A New Kelowna Development

 

  1. When should you buy
  2. Developer reputation
  3. What should you buy - generally there are several floorplans to choose from, often being released at different times with different pricing.
  4. Navigating and understanding the Purchase & Sale contract
  5. Understanding the Developer's Disclosure Statement, estimated strata fees, what is covered in strata fee and strata budget forecast.
  6. Deposit & Payment terms
  7. What happens if the development doesn't complete
  8. What happens if the market goes down
  9. What community and home is the RIGHT one for you

A REALTOR® experienced in new home sales and developments will help you navigate the 'coming soon' developments in the area so you know you're putting your money into the right home... for you!

Kelowna New Development Series – FAQS by Stage

Kelowna New Developments – Priority Registration
Kelowna New Developments – Presales
Kelowna New Developments – Under Construction

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Featured Kelowna New Home Developments

ZARA AT LAKESTONE | LAKE COUNTRY
Coming this Summer - A community of 86 homes featuring 1, 2 & 3 bedroom condos - LEARN MORE

BLOCK 20 | GLENMORE TOWNHOMES
A community of 3 bedroom townhomes coming soon to Clifton in Glenmore - LEARN MORE

CARBURY | WEST KELOWNA
Phase 1 coming soon - A collection of 109 three-bedroom townhomes and 60 condos - LEARN MORE

Browse All Kelowna Developments

 

We LOVE talking new home communities with our clients. There are so many to choose from in the area, in all phases of sales and construction. We'd love to help you narrow down your choice.

For More Information on Buying New In Kelowna, Contact Your Real Estate Specialists

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