What does $15.6 million buy you in Kelowna?
The most expensive home currently listed for sale in the city is what.
It’s called Lakeside Luxe, a five-bedroom, 12-bathroom contemporary estate carved into the rocky hillside at the far end of Lakeshore Road.
The living room in Lakeside Luxe.” class=”img-responsive” data-src=”https://www.kelownanow.com/files/files/images/most%20expensive%20in%20Kelowna%20living%20room.JPG” style= “margin: 5px;”/>
A massive two-way fireplace divides the living room from the dining room, which is next to the functional, two-island, gourmet kitchen.
There’s also a fully-functional, hidden second kitchen that can be utilized by caterers or by you when you don’t want to mess up the main kitchen.
The master bedroom is actually part of a ‘master wing’, separate from the main areas with its own living room, bedroom with view and deck and his-and-her ensuite spa bathrooms and walk-in closets.
Just because your house is already on the lake doesn’t mean you can’t have a pool, too.” class=”img-responsive” data-src=”https://www.kelownanow.com/files/files/images/ most%20expensive%20in%20Kelowna%20swimming%20pool.JPG” style=”margin: 5px;”/>
Considering that the benchmark selling price of a typical single-family home in Kelowna is around $1.1 million, Lakeside Luxe is 14 times more expensive than average.
Online listings tend to have a section that automatically calculates mortgage details for the property.
In Lakeside Luxe’s case, a 20% down payment on $15.6 million is $3.12, leaving $12.48 million to be financed.
Assuming a 25-year amortization with a five-year fixed interest rate of 4.69%, the monthly mortgage payment for Lakeside Luxe would be $70,398.
However, whoever ultimately buys Lakeside Luxe will be wealthy enough to handle such payments, put more down or maybe even buy it outright with part of their fortune.
In fact, it might not even be the buyer’s full-time residence, but a vacation or second or third home.
Point2Homes.com keeps an ongoing list of the ‘most expensive homes for sale in Canada’ as a way of drawing attention to its international real estate search portal.
While ‘most expensive’ is an attention-grabber and allows us to gawk at and dream about palatial places, Point2Homes.com lists all types of homes for sale and for rent, searchable by city.
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