Exploring senior living options in the B.C. Interior

Finding a place for seniors

As people approach retirement and consider lifestyle changes, the British Columbia Interior has become one of the most sought-after places for seniors looking for a comfortable and fulfilling lifestyle.

Known for its warm climate, stunning lake views, and vibrant community life, the Interior offers a variety of senior living options to suit diverse needs and lifestyles.

Here’s a guide to some of the top choices available, whether you’re looking for independent living, assisted living or a combination of both.

For seniors who are active and wish to live independently but prefer a community setting, the Interior has a range of independent living facilities that emphasize convenience and social engagement. These communities are designed for seniors who want the privacy of their own apartment or cottage but also enjoy shared amenity facilities like dining halls, fitness centres and activity rooms.

Popular locations like Kelowna, Vernon, Kamloops and Penticton offer excellent independent living communities. Many are designed with accessibility in mind, offering open floor plans, elevator access, and grab bars for additional safety.

For those who may need some help with daily tasks but still want to maintain a degree of independence, assisted living facilities in the Interior are a great option. These facilities offer a more structured environment with services that may include meal preparation, medication management, and help with personal care. While assisted living facilities provide support, they also prioritize residents’ autonomy and privacy, offering private apartments and social spaces where residents can enjoy group activities and outings.

Cities like Kelowna, West Kelowna, and others in the Interior are home to a range of well-regarded assisted living options that provide a balance of independence and support. Those facilities often have professional staff available around the clock, offering peace of mind for families. From lakeside views to nearby vineyards and parks, the assisted living communities often incorporate the natural beauty of the region, providing residents with a serene and inspiring environment.

Continuing care retirement communities are ideal for seniors who want to plan for the future in a setting that allows them to transition from independent living to assisted living—and even skilled nursing care—within the same community. The option ensures seniors receive the care they need over time without having to relocate, which can be especially comforting for those who value stability.

CCRCs in the Interior offer a range of amenities tailored to different stages of senior life, from independent apartments to more supervised settings. They emphasize a continuum of care, so residents have access to increasing levels of support as they age. Although CCRCs can come with higher entry costs, they are an attractive choice for seniors and their families who want a seamless and stable living arrangement.

For seniors facing cognitive challenges such as Alzheimer’s or dementia, although not as numerous as other facilities in the B.C. Interior, there are specialized memory care facilities that provide an environment designed to meet their unique needs. Those facilities have secure areas to prevent wandering, specially trained staff and structured routines that can help reduce anxiety for residents. Memory care facilities emphasize compassionate care, sensory activities and a calming environment to ensure residents feel safe and valued.

Many memory care options are located within or near larger senior living communities, which can be an advantage for couples where one partner requires memory care and the other does not. Facilities in Penticton, Vernon, Kamloops and Kelowna offer a combination of on-site healthcare and individualized attention that can be a significant relief for families.

If you want a great list, with reviews, check out Independent Living Kelowna (comfortlife.ca) and https://www.aplaceformom.com/independent-living/canada/british-columbia these are both great sites to help start that search and see what different places have to offer as well as reviews to make sure it is a good fit.

Navigating the many senior living options available in the B.C. Interior can be overwhelming, especially for those unfamiliar with the area.

Working with a real estate agent who understands the senior housing landscape can make the process easier and more efficient. They can also provide information about nearby healthcare facilities, transportation options, and other practical considerations.

With the Interior’s unique blend of community-oriented senior living options and a beautiful, mild climate, the region is a top choice for retirees looking to settle into a place where they can enjoy their golden years. Whether it’s the independence of a lively community, the support of assisted living, or the security of a memory care facility, seniors have many options to lead a comfortable, connected, and fulfilling life.

I know when my grandparents had to move into independent, then assisted and finally memory care, living it was a difficult transition. The staff made it much easier.

I can tell you from experience it is important to start the journey early depending on one’s needs. Some places have long waiting lists and if you have one you like, get your name in. For those looking at buying a place, start the search early. Finding the right place for the right price can take a while.

When looking at making such an important decision, it should go without saying planning is important.

If you have suggestions for other real estate-related articles, please email me at [email protected]

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

Real estate listings and sales data show it's a buyer's market right now

Advantage real estate buyers

I’ve been asked what is happening in the real estate market with increasing frequency in the last few months.

I decided to take a closer look, using just the numbers from a one-week period (not including recreational properties).

The numbers don’t show a complete picture, one worth a 1,000 words, so maybe just 800.

My analysis will examine the dynamics between new listings, existing inventory and completed sales, highlighting the balance—or imbalance—between supply and demand in different segments of the market.

From entry-level to luxury homes, the distribution of active listings compared to sold properties is definitely showing us a few things. (This is only MLS data, private sales are not included)

In the past week, according to numbers from the Association of Interior Realtors, a large portion of the British Columbia Interior real estate market had a total of 8,444 existing listings. During that same period, 317 sales were recorded and 425 new listings were added.

Those listings were spread across a range of price segments including:

• Up to $250,000—569 listings and 28 sales, a ratio of 20.32 listings per sale. The lowest price range has a substantial oversupply, likely leading to longer listing times. That is big buyers’ advantage.

• $250,000-$500,000—1,784 listings and 85 sales. That price segment also showed an oversupply, with a ratio of 20.99 listings per sale. Although demand exists, buyers have the advantage in negotiations and sellers may need to be flexible on pricing.

• $500,000-$1,000,000—3,598 listings and 151 sales. While this segment is the most active, the listings-to-sales ratio of 23.82 indicates an oversupply, with buyers having a wide range of options, sellers not so much.

• $1 million-$2 million—1,895 listings and 50 sales. The higher-end market shows a significant oversupply, with a listings-to-sales ratio of 37.9. That reflects slower movement due to a smaller buyer pool, often resulting in extended time on the market.

• Over $2 million—598 listings and three sales. The luxury segment has the slowest market speed, with an exceptionally high ratio of 199.33 listings per sale. That suggests the luxury market is extremely oversupplied. If you have a few extra millions of dollars kicking around, it looks like the time to scoop up a good deal.

The majority of listings fall within the $500,000 to $1 million range, reflecting high inventory in the mid-market segment, which typically targets families and mid-range buyers. The $250,000 to $500,000 range also has a significant number of listings, attracting first-time and budget-conscious buyers.

The majority of sales also occurred in the $500,000 to $1 million range, with 151 transactions, showing that demand in the mid-range market is strong. However, the high-end market (over $2 million) saw only three sales, indicating significantly lower activity among luxury properties.

The new listings-to-sales ratio provides insights into market speed, showing the balance between the rate of new listings entering the market and sales. A higher number means it’s good for buyers and bad for sellers.

New listings-to-sales ratio = 425 new listings / 261 sales = 1.63

A ratio of 1.63 suggests a buyer’s market in the short-term, where new listings outnumber sales, giving buyers more options and putting less pressure on them to act quickly. I have also noticed the number of new listings versus sales has come down, possibly indicating people are deciding not to put their homes up for sale as readily as before. I also noticed a higher incidence of cancelled and expired listings just over the last while.

For a broader perspective on market dynamics, the existing listings-to-sales ratio highlights the balance of supply and demand in the current inventory:

Existing listings-to-sales ratio = 8,444 listings / 317 sales = 26.63

This high ratio of 26.63 indicates a slow market overall, with a significant surplus of listings relative to sales. This dynamic favours buyers, who can take advantage of the high inventory.

Simply put, 26 places are for sale and one will sell. Next week, there will be 27 places for sale and one will sell. Then 28 places and one sells. Rinse repeat.

I do this analysis—usually once a week or so—not in great detail but for clients in specific price ranges to let them know what is happening in their market range.

To give a little context, I pulled some information from 2022, 2023 and 2024. For the month of September 2022, in single family residential, there were 1,162 active listings in the Central Okanagan, in September 2023 1,230 and this September 1,727. That works out to about a 60% increase over two years.

There were about 50% more sales in September 2022 than in September 2024, meaning far less for sale two years ago and about 50% more sales. Our ratio of sales to listings is far and away higher than just two years ago. Simply put, way more homes are for sale and far fewer are being sold. The turnover rate has substantially come down.

The big take away is, if you own a property (in a segment) where there are several other similar properties (commodity housing), it’s important to be aggressive in your pricing if you want to be the one in 26 that sells.

If you have suggestions for other real estate-related articles, please email me at: [email protected]

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

Real estate agents do more than plant a 'For Sale' sign in your yard

Estate agents' many hats

What exactly does a real estate agent do? Everything, at least we real estate agents like to think so.

You’ve seen them, dressed to the "sevens," perpetually on the phone. Real estate agents are a breed of their own, juggling roles from therapist to negotiator to, sometimes, amateur plumber. But what do these people actually do?

If you think it’s all about putting a sign in the yard and collecting commission checks, think again. Get ready for a peek behind the curtain at what your friendly neighbourhood real estate agent really does.

I thought I might take a fun look at how some real estate agents see themselves, and there is a lot of truth in it.

Sometimes they act as a therapists. Think about the stress of buying or selling a house. Throw in some anxiety about finances, with a dash of future regret. That’s what most clients bring to the table when they meet their real estate agent. Part of the agent’s job is calming nerves and talking clients off the metaphorical ledge.

From the start, your agent is there to listen to every concern, dream and dramatic rendition of your ideal “open-concept kitchen.” “Verbal Valium” can help soothe your fears about market crashes, the offer that collapsed and the “will-I-like-my-new-neighbours?” fear.

They can help navigate bidding wars and convince you that yes, it is possible to find a home with a pool and a low price point. A good real estate agent is a little like a professional matchmaker except they’re introducing you to your dream home or introducing your home to its next loving owner. And just like in matchmaking, there’s more to it than meets the eye.

Agents often have to read between the lines of what clients say they want, what they actually need and often what they can afford, walking the fine edge between a wish-list and mortgage payments, showing properties you love and then introducing a few unexpected options to see if your eyes light up and, of course trying to stay on budget.

If you’ve ever negotiated with a teenager over how much video game time is fair or when curfew should be on Friday, you know that negotiation is an art form. Imagine doing that but instead of bargaining over an extra 30 minutes, you’re haggling over thousands of dollars, repairs, the hot tub cover and closing dates.

For buyer or seller, the respective agent is always trying to get the best deal.

Want to knock $20,000 off the asking price because the tiles in the kitchen look “a little 2008”? Your agent will present that case with a straight face and make it sound completely rational.

Selling a house is more than just sticking a sign in the front yard and hoping for the best. Your agent is also your personal marketing team, creating snappy listings that read like poetry—“Spacious bungalow with vaulted ceilings and a backyard oasis”, and making sure the photos make the tool shed look like a million-dollar home.

The open house is where your agent will spend the afternoon sweet-talking strangers, explaining the smell of cookies is definitely not a ploy to distract from the four different wallpaper patterns in the living room.

They’ve got an answer for every question, from “What’s the resale value of a home near a cemetery?” to “Should I buy now or wait for the market to crash?”

They’re also the ones who’ll walk you through the reams of paperwork involved in a real estate transaction (I often joke we sacrifice a tree every time we do a deal), translating dense legal language into something resembling English.

Real estate agents definitely wear many hats. They’re also problem solvers. Did the home inspector discover a raccoon or squirrel family living in the attic? They know a guy. Did a neighbour’s cat decide to make your freshly staged home its personal nap zone? No worries a lint roller and some treats and we’re good. Sometimes, they’re even called on to handle minor repairs themselves when an unexpected issue arises during a showing. Most agents can make a stubborn toilet flush (never fun), tighten a loose doorknob or fix a sagging curtain rod.

No matter the market, the client or the hours, real estate agents keep their optimism alive. They know that behind every difficult transaction there’s a family waiting to find their home or a seller ready to start the next chapter. That’s why they keep going, tirelessly answering calls at all hours, smiling through challenging negotiations and celebrating every victory, big or small.

So, the next time you see a real estate agent’s face on a “Sold” sign, remember, they’ve done a lot more than put a house on the market. They’ve counselled, negotiated, marketed, problem-solved, possibly flushed and smiled through it all.

If you have suggestions for other real estate-related articles, please email me at [email protected]

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

The benefits of buying a home near a good school

Homes near schools

In my last column I touched on some different things to watch out for when deciding on a neighbourhood to buy your home in.

One of those elements was schools. When it comes to buying a home, often this very important factor is overlooked. Proximity to quality schools is important for several reasons. Whether or not you have school-age children, purchasing a home near good schools can provide a wide array of benefits, both for your lifestyle and your financial future.

In this column, I’ll explore why buying a home near a top-rated school can be a smart move for homeowners and investors alike.

First a little refresher on how to research schools. There are several websites where you can research school ratings, including Fraser Institute - School Ranking (compareschoolrankings.org). Check out the school in the area you are contemplating and go from there.

Homes located near good schools tend to appreciate in value more consistently than homes in other areas, largely due to the steady demand from families who want to ensure their children receive the best education possible. Even in fluctuating real estate markets, homes with better schools typically maintain, or increase, in value because of demand.

For homeowners, that means buying a property near a good school can be a sound investment. You’re not only investing in a home but also in a neighbourhood that is likely to experience sustained interest from buyers over time. Additionally, during economic downturns, homes in these areas often hold their value better, making them more resilient to market changes.

If you decide to sell your home in the future, being near a reputable school can give you a competitive edge in the real estate market. Families with children make up a significant portion of homebuyers, and many are willing to pay a premium to live in a neighbourhood with better schools.

As a result, homes near good schools often sell faster and at higher prices than comparable homes in other areas.

Be mindful of where the home is, sometimes being right across from a school can have disadvantages. In this day and age when parents are dropping kids off directly at school, morning and afternoon parking and traffic issues can be inconvenient. If it is right beside a school and you are buying in the summer remember, come September things will be very different. Plan for it and maybe talk to your neighbours before taking the plunge.

If you’re an investor or considering buying a second home as a rental property, good schools can be a significant advantage. Families moving to an area temporarily for work or other reasons often seek out rental properties near good schools. This can mean lower vacancy rates and higher rent. As a result, owning a rental property near good schools can often provide a steady stream of income and help attract long-term, reliable tenants.

For families with children, living near a good school offers direct, daily benefits. It simplifies school commutes, reduces travel time, and allows children to participate in extracurricular activities without the stress of long-distance transportation.

One of the hallmarks of neighbourhoods with good schools is their stability. Families who buy homes near strong schools tend to stay for the long term, often until their children graduate. Less turnover usually means more stability.

Low turnover is beneficial for maintaining property values, as consistent homeownership in a neighbourhood helps prevent the kind of rapid market shifts that can lead to property devaluation. Additionally, long-term residents often invest more in maintaining their homes and contribute positively to the community, fostering a sense of pride in the neighbourhood.

Living near a good school can help you connect with your neighbours, creating a sense of belonging and community. Families in these neighbourhoods often share common goals and interests, such as ensuring their children receive a high-quality education and supporting local school activities.

Buying a home near a good school is more than just a decision for families with children; it’s a smart investment for anyone looking to secure a property in a desirable location. Whether you’re planning to start a family, invest in real estate, or simply enjoy a stable and vibrant community, being near a good school can pay off in multiple ways, both in your daily life and in the long run. So do your homework before writing the cheque, it can pay off in more ways than one.

If you have suggestions for other real estate-related articles, please email me at [email protected].

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.