A Buyer's Guide
To Purchasing a Condominium


Window of Opportunity Is Open Now

It is often said that some of the best opportunities are the opportunities we pass up. Anyone hoping to buy a new home in the near future might want to take heed of these cautionary words as the window of opportunity for home buyers in a "buyer's market" is one that can close faster.

There is no denying the fact the global economic forces have taken their toll on the real estate market locally, provincially and nationally. Property listing, sales and average prices are down from their peak a few years ago. However, there are also signs that the shift in the cycle that saw a long and steep upward trend turn downward last fall may now be slowing and even beginning to turn back the other way.

The window of opportunity for buyers closes with each new sale eating away at supply during a slow period in new home construction. As you delay your buying decision, the remaining inventory in the market is shrinking. At the same time, last year's turn in the market trend is limiting the amount of new construction.

If this is the time in your life to put your stakes down and invest in a roof over your head, then you couldn't find a better time to buy a new home. Waiting for the market to bottom-out may mean missing the perfect opportunity today.

       Bob Ransford, Director
       Urban Development Institute


Why the Murano?

LOCATION, LOCATION, LOCATION!   The Murano offers investors, first time home owners and down-sizers great quality homes in the heart of Kelowna.   Enjoy a new home in a central neighborhood that embraces the convenience of all your daily amenities within walking distance.   Minimize or even eliminate your commute to work.   And, as the Kelowna property market continues to target upwards, investors will continue to veer to the condo market, further securing your investment.

QUALITY LIVES HERE!   Expect exceptional condo attributes where features include geo-exchange technology which provides low cost heating, air-conditioning and hot water, low strata fees, two elevators, secured underground heated parking, individual storage space, soundproofing windows, spacious layouts, nine foot ceilings, open kitchen designs, home grade appliances, and much, much more.

CHECK OUT THE COMPETITION!   Don't take our word for it.   A smart investment starts with comparing your future Murano home with the competition.   Compare price per square foot living space, strata fees, utilities and features with any other green building in the valley.   See why the Murano is a smart investment for a quality home.

HOW IS THE INSTALLATION OF THE GEOTHERMAL SYSTEM DIFFERENT FROM OTHER DEVELOPMENTS?

    1.   The geothermal system was not be sold to a third party utility company.   The Murano home owner maintains ownership of the low maintenance technology and directly benefits from the substantially lower heating and cooling costs.

    2.   The continued financing through high strata fees, after the initial condo purchase, is not done at the Murano.   The geo-exchange technology is fully paid for by the developer.   The cost of the geothermal system is included in the building cost and does not affect the low monthly strata fee.

    3.   A geothermal hot water system with electric baseboard heaters and noisy wall mounted air conditioning units provide minimal cost savings to a home owner.   The Murano geothermal system provides heating, air conditioning and hot water, all inclusive in a low monthly strata fee.   The only utility bill you pay is your electricity bill.   Combine that with a well built, well insulated building, plus energy efficient low-E windows, you have a true green building providing Healthy, Cost-Efficient, Sustainable and Responsible geothermal energy.

And best of all, these environmentally friendly benefits translate into large savings for every Murano home owner!

What about the environment?

Think globally, act locally.

The developer, Rossland Contracting, put the environment first, not just in words but in design. In constructing a green building, the developer included features such as a geothermal system, energy efficient low-E windows and energy efficient light bulbs and fixtures in most common areas.

What direct impact does the Murano green building have on our environment? The Murano will reduce green house gas emissions by approximately 125 metric tonnes per year due to the installation of the geothermal system. That is about the equivalent to eliminating 30 cars off the road or planting approximately 15 acres of trees.     How cool is that!

With the geothermal system fully paid for by the developer and the advantage of the additional green building attributes, the Murano home owner immediately benefits with substantial savings on their greatly reduced utility bills, making both economic and environmental sense.


What About Conveyancing?

When want to purchase a condominium you may also apply for a mortgage. This will enable the previous owners to transfer the legal title of the property to you, upon your purchase closing. In Melbourne home buying, selling and property transfers can be quite stressful for all parties involved. Having someone who has an in-depth knowledge of property and property laws on your side is never a bad idea. Conveyancing in Melbourne can help to make your property transfer seem like a breeze using streamlined processes for greater efficiency. One of the hardest things about buying or selling a property is staying on track throughout the conveyancing process. Having an experienced property lawyer at your disposal will help you plan and prevent unforeseen problems with the procedure itself, as well as other legal issues.

Although it's important to ensure that conveyancing transactions remain on track, this is not the only thing that matters. You have to consider the aftermath as well. Even after the conveyancing has commenced, problems has still come up. For instance, the Land Titles Office may determine that there is an issue that stemmed from a set conveyancing procedures. Some of the smallest problems can create the most chaos, a Conveyancer will resume all responsibility and take the appropriate steps to secure your transfer. Once the ownership of your new condo has been successfully transferred (or conveyed), this will conclude the conveyancing process.



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REAL ESTATE MARKET
STAYING STRONG


"Real Estate market is expected to remain unusually strong through the first half of this year after a strong finish to 2009"

Daily Courier
January 8th, 2010






LOW BORROWING COSTS


"The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity to new highs."

Phil Soper
Executive, Royal LePage
January 8th, 2010






LOW INTEREST RATES
CAN'T LAST


"The government's stimulus of the economy can't go on forever, so interest rates will go back up."

Steve MacNaull
Daily Courier






CONDO MARKET

WILL FUEL DEMAND



"Multi-family housing demand will be the main driver of the real estate market as more people find detached housing cost prohibitive."

Canada Housing and
Mortgage Corporation
Analyst, Paul Fabri






Think Globally, Act Locally
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For every unit of electricity the geothermal system uses, it provides three to four units of heating energy - an efficiency of 300% to 400%.

>> Find Out More <<
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C A L L     N O W !

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Murano, a 'Green Building' - offers condominiums and townhomes of uncompromising quality, sophistication and style, located in the heart of Kelowna, BC.  An Okanagan residential property nested in a four seasons playground with near by amenities, golfing, skiing, boating and an array of other year round out-door activities.
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