Rykon Construction is offering affordable townhomes at Sonoma Pines
Recently, many agents from my office at Century 21 Assurance Realty visited Rykon Construction's latest offering of townhomes at Sonoma Pines. These townhnomes truly offer a lot of value for their $249,000 asking price. The layouts are open and spacious with vaulted ceilings and single floor living space. The thing that really struck me is how beautiful the location is with staggering views of Okanagan Lake and unique views of Mission Hill Estate Winery. These single level townhomes are leasehold, but that shouldn't stop a buyer from purchasing one as they are on a 99 year prepaid lease. The Goods and Services Tax (GST) of 5% is still applicable but the nasty Property Transfer Tax of 1% on the first $200,000 and 2% on the balance (or sometimes unaffectionately known as the BC Sunshine Tax) is not! RedKey.ca recently posted a terrific article on the developer and the Sonoma Pines project. I have heard it said many times by buyers I worked with in the past that "affordability" has long been gone from the Okanagan Valley...perhaps the sun has not set on this issue yet!
Sincerely,
Jason Neumann
Kelowna Real Estate Blog
Posted by Jason Neumann
on November 3, 2008