Up in the air

New B.C. speculation tax could prompt Albertan vacationers to look closer to home for second-property purchases

Scott Henderson has split his work time between clients in the Okanagan and those in his hometown of Calgary for the last 15 years.

Eight months ago, the marketing/communications agency owner got pre-qualified for a mortgage for a second residence in Kelowna. Then, this February, B.C.’s provincial government announced a speculation tax on out-of-province and foreign owners to discourage buy-up of housing by investors who, it claims, leave homes empty and drive up home prices. A homeowner can avoid the tax by living in, or renting out, the home half the year.

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Mission & Cliff Bungalow

Youthful energy in an historic community

“Mission is a phenomenal place to live and play,” said Julie O’Donnell, executive director of the 4th Street Business Revitalization Zone (BRZ).

There’s no doubt that the communities of Mission and Cliff Bungalow spin at a vibrant pace, with people always out strolling, talking, poking into galleries and artisan shops, and enjoying the vast selection of restaurants and coffee shops.

It was that hum that enticed Nicole Butz to make a move to the area a year ago.

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