Kelowna, BC Cheap Homes for Sale

Listings last updated 09/24/2022
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Frequently Asked Questions

Is it cheaper to build or buy a home?

Whether it’s less expensive to build or buy a home varies by market, so it’s essential to know all of the costs involved (detailed below) and get local estimates before deciding which route to take. For example, buying a house involves not only the price of the home (or the down payment if you’re taking out a mortgage), but also the closing costs, insurance, property taxes and homeowner’s association fees, if any. In addition, there’s the cost of repairing/replacing older systems and appliances, as well as renovating the home if it’s not a new construction. Likewise, building a home includes a variety of costs, as well. Specifically, there’s the price of the plot of land; hiring architects and engineers; building permit, inspection and impact fees; excavation and foundation costs. Plus, there’s the actual cost of construction (including labor, materials, finishes, appliances and utility hook-ups). Then, in the case of a land and/or construction loan, there are the associated closing costs, plus insurance, property taxes and the cost of landscaping. Moreover, you’ll also likely have to rent during the build, so you’ll have to factor in temporary housing costs, too.

Which province is the most affordable in terms of real estate?

If you’re looking for low-priced housing, some of the most budget-friendly homes for sale can usually be found in Saskatchewan, New Brunswick and Newfoundland and Labrador.

How many cheap properties for sale are available in Kelowna, BC?

On Point2, you’ll find 304 affordable houses for sale in Kelowna, BC, with prices starting at $62,900.

How do I search for cheap homes for sale in Kelowna, BC?

Browse cheap houses for sale in Kelowna, BC and check out property descriptions, photos and virtual tours. You can also narrow your search by filtering based on price drops, which can be especially useful when looking for cost-effective properties. Moreover, be sure to use the map view if you’re searching for cheap houses for sale near you.


Situated in British Columbia’s Okanagan Valley, Kelowna is a beautiful city that combines urban and rural living. The third largest city in BC, Kelowna has a population of 194,882 people and is known for its stunning setting, recreational activities, and desirable lifestyle. The city covers an area of 211.82 bordered by Vernon, Summerland and Penticton, and is around a 4-hour drive from Vancouver. Kelowna is located in the interior of the province and has a distinctive climate that provides the perfect conditions for grape growing and wineries. Summers are generally hot and dry, while winters are mild and often snowy.

Kelowna is known as one of the best cities in BC especially because of the lifestyle that it offers. The city has a booming economy, led primarily by the service and tourism industry, which is a huge provider of jobs, as well as agriculture and technology. In 2015, the tech sector contributed $1.3 billion to the economy, and Kelowna is quickly becoming one of the fastest growing cities in North America due to its lifestyle and healthy economy. Residents can enjoy an abundance of outdoor activities including skiing at Big White Ski Resort, hiking, and water-based activities, and then there is the abundanceof city amenities and the lifestyle that goes along with that.

Kelowna’s heritage is reflected in its culture, and the city prioritizes integrating local culture and heritage into the community. The city is made up of a large white population (90.4%), with a small percentage of those of Aboriginal heritage (3.4%). Kelowna’s real estate market is very active and has grown significantly in recent years, and the city consists of 10 main areas, each of which is split into different neighbourhoods.

Popular areas in Kelowna include: Southridge, McCulloch, McKinley, Rutland, Wilden-Magic-Estates, Uptown Rutland and Tamarack.

Kelowna, BC

Kelowna, BC
real estate market overview

Real Estate Market Overview

Kelowna’s strong economy has given rise to an even stronger real estate market. Despite a slight downturn in the property market in other areas of BC this year, Kelowna is going against the grain and is displaying growth and stability in all areas of the market. The benchmark price for a residential property rose by 14% to $493,887 in the last year.

The city’s growth is largely attributed to people migrating from other areas of Canada such as Alberta, and many residents are moving away from Vancouver and Victoria in search of cheaper housing. University graduates are also driving the market as roughly 60% of students decide to stay in the city after finishing their studies. Prices are lower in Kelowna than in other cities in BC, so it’s a very attractive place to buy for both local buyers and investors.

The Foreign Buyer Tax in BC did halt the market slightly, but move-up buyers still dominate the market and single-family homes are the highest in demand. The condo market is led mostly by first-time buyers and young professionals due to their affordability since single-family homes are steadily rising in price as demand increases. Due to a large population growth and a high number of students, rental vacancy rates remain low, which is why many people are turning to rental investment properties and buying condos rather than renting.

real estate market overview

Cheap Real Estate Market Overview

Kelowna has a range of properties available, and first-time buyers represent around 20% of the market and generally opt for condos and townhouses, which can be found in the region of $250,000-$300,000. Single-family homes are becoming more expensive, but houses are still very affordable especially compared to Vancouver.

It’s a great time to buy in Kelowna since prices are on the rise, and Kelowna’s market offers great value for money with a number of neighbourhoods to choose from. Some of the most affordable communities in Kelowna include Kelowna North, which offers a range of urban condos; Lake Country West and Lake Country East, which have cheap single-family homes and great amenities; Glenrosa; and Black Mountain, which is popular among young families due to its access to schools and activities.

cheap real estate market overview

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