Look Up: Navigate Kelowna Real Estate Listings Like a Property Developer

Move-down buyers can enjoy incredible views from atop the single-family paired homes at Kestrel Ridge, new to Kelowna real estate listings.

Not sure what the difference is between a duplex and a paired home? What does theatre-style development actually mean? Who do they mean when they say move-down buyer? When it comes to investing in a new home or property, there is a lot of lingo used by realtors and property developers that may not make sense to buyers at first.

At Kestrel Ridge, a new development that is making its way to Kelowna real estate listings, we’ve come up with a glossary of some of the terms you may come across when perusing the luxury real estate market.

Attached/Detached

When it comes to navigating new house listings in Kelowna, you will likely come up with classifications such as single-family and multi-family residential. The differences between these types of homes may seem self-explanatory, but there are unique features between them:

• A single-family dwelling is a detached or freestanding home that usually includes a bordered property line.
• A condominium or apartment is considered a multi-family dwelling where residents live in separate units but under one roof. This can be from a 4-plex on up to a 100-unit building.
• A townhome is like a single dwelling, as it usually includes land and can be detached from other units. However, it is considered a multi-family dwelling as it includes several buildings within a complex.
• A duplex in North America is considered a multi-family dwelling with two separate units either on each floor of a two-storey home or side-by-side units on a single lot.
• Semi-detached homes or paired homes are considered single-family dwellings, as they are one dwelling that shares a common wall. Often, each side is built to mirror the other.

Vis à View

You may have heard of the term curb appeal, which Realtors use to describe a home that looks attractive from the street. However, when looking to buy a house in Kelowna, the view from inside the house on out is just as important. Modern subdivisions that are built on the side of a mountain, such as the Upper Mission Kelowna area, add that WOW view appeal. Single-level dwellings, or one-storey homes, not only offer large floor plans, but also are built so that one home doesn’t block the view of another. Developers will also talk about theatre-style development and terraced streets, where homes are only built on one side of a road and are levelled in a way that no home is obstructing the view of another.

Moving on up

Move-down buyer is one of those terms that could be misconstrued, as it doesn’t necessarily mean that the buyer is getting something less in quality for his or her investment. A move-down buyer is someone who has owned a bigger home, is typically close to retirement and/or is an empty nester. They tend to be active and want a certain lifestyle that includes a simpler and easier-to-look after living space. This buyer tends to look for single-level homes, where each individual has a room they can call his/her own, and where the kitchen, family room and master suite are considered common areas.

For more information, read out blog: Kelowna Homes: What you Really Want in a Dream House.

The contemporary paired homes at Kestrel Ridge are semi-detached, single-family homes that feature single-level living that move-down buyers will love. Our theatre-style development on the Upper Mission, Kelowna features those WOW views from every vantage point – both inside and outside. See for yourself by downloading our brochure.