David Delorme

Your Investment Property Specialist

The market stats are in. We know where our buyers are coming from.


Guess what?

Nearly 50% of people purchasing property in Kelowna aren't from Kelowna.

The Okanagan Mainland Real Estate Board posted their standings from their recent buyers survey for July. The results are below:

50.3% from Within Okanagan Mainland Real Estate Board(down from 57.9% in July)
22.7% from Alberta (up from 18.2%) ***
11.7% from Other Areas in BC  (up from 8.6%) ***
7.3% from Lower Mainland/Vancouver Island  (down from 9.8%)
3.6% from Saskatchewan/Manitoba (up from 1.2%) ***
2.3% from Outside Canada  (up from 1.8%) ***
1.3% from Eastern Canada/Maritimes (down from 2.1%)
0.7% from NWT/Yukon (up from 0.3%) ***

I know I wont be the only realtor posting these results. So rather than just post, lets discuss.

You have your home listed, or are thinking about listing it.....

How can you make your property more favorable to out of town buyers?

Here are 2 of my recommendations:

Always have your home show ready and make sure it is quickly available to view!

When people are here from out of town, they don't have all the time in the world to wait to see your home. I'm sure they understand that you, just like them, went away for the weekend. Or, you worked late and couldn't get the property ready until the next afternoon.


A short notice showing request is never ideal, but we have to be ready to accommodate.

Their desire to purchase might have been on a whim. They might have gone on a wine tour and driven by your home. They might have discussed over lunch to purchase in the area and took the time afterward to walk into a local Coldwell Banker office and ask a certain Realtor (me) to go see a property that interested them that same day (happens more often than you would think).


So you got everything ready for Sunday afternoon, time to sell your home! Right?

Wrong - These buyers drove back home at 1pm. But, before they did, they wrote an offer on your neighbors home that was listed. They saw it Saturday night and loved the view...THE SAME VIEW THAT YOU HAD!

I'm not saying they would have made an offer on your home, but I'm not saying they wouldn't have either.

Take Professional Photos!


Many buyers do the initial searching on their own. Even if they have a Realtor, they will still go on to Realtor.ca and look at listing, after listing, after listing. I have had many occasions where a client has asked for me to find them a certain type of property(let's say concrete highrise) than suggested after the fact to check out something entirely different that they found online (let's say wood frame low-rise).


What was their motivator - PHOTOS! - The photos convinced them to check out a property that they convinced themselves earlier they weren't interested in. - this particular client bought the low-rise wood frame condo by the way.


To summarize, its exciting to see so many out of towners interested in Kelowna! If you are selling, do your best to make it easy for these people to choose your property first.


If you have any other tips or tricks and can provide some feedback on how to make your home appeal to these out of town buyers, I would love to hear it.

Read full post

So you woke up one morning and decided it was time for a life change.


Step 1) Move to Kelowna


Step 2) Start your own bed and breakfast



Why Not start your own Bed and Breakfast?

1)You can meet great people from all over the world.
2)Work out of your own home.
3)Eat Well.
4)Make some Decent Money
5)Stay busy through semi-retirement…but not too busy
6)Tax write offs for many of your home expenses

So how easy is it to start a bed and Breakfast?

Can you just put an add on Craigslist and start taking guests????


Its a bit more challenging than that I’m afraid…but not out of reach.


Here is what you need to Consider Before taking that Big Leap.

  1. Kelowna and West Kelowna don’t legally allow vacation rentals in anything outside of RM6 zoning(High Rise Apartment Zoning). So for those who were thinking about renting their home short term without operating a bed and breakfast, you legally can’t.
  2. Rental periods of 1 month or more are considered non-vacation rentals and fall under the laws of the residential tenancy act. Meaning if you could find occupancy you may be able to get an inflated rent amount without running a Bed and Breakfast. However, short term tenants 1 month at a time may be a little more carefree and may leave you with some headaches at the end of the tenancy. SCREEN YOUR TENANTS WELL if you wanted to dabble in something like this.
  3. Your Property needs to be Zoned appropriately. RU1 or RU6 will work for a B+B. Medium density and low density lots say they will allow bed and Breakfasts. However, to properly operate you need a big enough lot to facilitate the parking of your guests. It will be very hard to find a medium and low density lot with parking sufficient for the approval of your license. Go to this link to view zoning information at the City of Kelowna.
  4. You Need a business license to operate. It costs about $135 a year.
  5. Before the City will issue the business license, they will send an inspector to make sure your property is up to code. Each room generally needs to be under most of the same requirements as a secondary suite. The inspector will tell you what safety requirements are met and which need to be adjusted (for example, smoke detectors, ventilation, window size, room size).
  6. Off road parking needs to be sufficient. You need to have 2 parking spots for the live in owners of the dwelling, than 1 additional spot for each room you have available for rent.
  7. The maximum number of rooms for a bed and breakfast in Kelowna is 4. This would give you a maximum of 8 guests at one time.

Once you have taken all this in and still decide to go through with your Bed and Breakfast business venture you will need to focus a little on the marketing aspect and think about what will give you the best chance at full occupancy.

  1. Ensuite bathrooms for every room! It’s not necessary for your license, but you will have trouble getting full occupancy without it.
  2. A view will help! Lake shore may be a bit expensive for your new operation, but you can find a property with a breathtaking view for a fair price (at the moment).
  3. Amenities like a pool, while being a bit more work, may be an essential piece of the pie for those looking to stay at a bed and breakfast.
  4. Be close to the action. Wine tours are big out here. Lakeview Heights in West Kelowna is a great option. If you take a drive you will see many bed and breakfasts in that neck of the woods.
  5. Generally is a 4 month of the year business. Outside of the summer, don't expect to be flooded with guests. Budget your time and resources accordingly.
  6. Be close to other bed and breakfasts. What better marketing than to be near an established bed and breakfast.  Convince your guests to write about their experience online. Given you offered exceptional service, people will write about that in their reviews. Those people staying nearby will look you up, see your good reviews and try you out next time.
  7. Trip Advisor, Air B+B and Yelp are some great option to get your name out there. Also, get a website, and get on google places. All these things will help bring you up the search engine list. However, no matter how hard you try, you won't be able to overtake the trip advisors, expedias and major online companies that make it their business to be at the top of the search engines. Make sure you have full, well written online profiles for all these sites.

Hopefully this rant I put together can help you in your dreams of starting a bed and breakfast. If you were searching online for a local B+B but came across this article, I can help you out;


Willow Beach Bed and Breakfast


They are located on Okanagan Lake down Westside road. Amazing Service and Great People. You have full access to the dock and their kayaks as well. Here is their website www.willowbeach.ca  The link above goes to their tripadvisor page.

Have you thought about starting a bed and Breakfast?

To View this Article In its entirety Check out my more Interactive Blogging Page at www.gettokelowna.com/news-blog/


David Delorme - Coldwell Banker Horizon Realty

Read full post


Lets get inside the mind of a first time home buyer with this question:

Should you fix-up your Home Before you Sell?


As a home seller, you may be thinking that a ‘fixer-upper’ property would appeal to most first time buyers trying to put their first step on the property ladder. 

With all the shows on the Home and Garden Network you would think that that's the ONLY thing people are looking for.

Why not? you have opportunity to create equity with some elbow grease.

However, according to the results of a recent Coldwell Banker survey on the preferences of first-time buyers, you’d better think again!

Coldwell Banker recently conducted a survey of real estate brokers and sales professionals across Canada and the U.S. to determine the preferences of first time buyers.  The survey findings clearly show that First Time Buyers want a ‘turn key’ property where they can simply move in and start to enjoy living in their new home.  

You might ask Why these buyers aren't generally looking for a fixer upper?

These individuals have typically put the majority of their financial power into the down payment.  They don’t have large reserves of cash available to start putting more money back into the property on major upgrades and renovations.  

In addition, first time buyers are typically just starting out in their career and --especially in the case of single buyers -- have little free time available for house repairs.  Bottom line?  The less there is to do on your property in the way of repairs or updates, the more appealing it’s going to be to those buyers.  In most cases, it’s well worth the investment to do the necessary repairs before putting your home on the market.  

Do you think you should fix up your property before selling it?


To View this Article In its entirety Check out my more Interactive Blogging Page at www.gettokelowna.com/news-blog/


David Delorme - Coldwell Banker Horizon Realty

Read full post
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.