Is there an age restriction?
This is not an age restricted community. The style of our single level homes with Insulated Concrete Form Foundations (ICF) lend well to the active retiree lifestyle. As such, the youngest residents in our park are approximately 40 years old. Families with Children are welcome. We are proud to have a non-discriminating age development available to people of all ages and walks of life.
Is the property on First Nations Land?
No. The Land at Gallagher Lake Village Park is Fee Simple. Meaning that it is privately owned. Furthermore, residents are protected by the Provincial Residential Tenancy Act and a long term lease.
How does the lease work?
Secure Lease to 2061, land rental fees are between $525 and $600 per month. Our interior Lots are between $480 and $525 per month, and our exclusive riverfront lots are $600 per month. The Lease document contains common sense, neighborly rules, and a Residential Tenancy Lease Agreement. If you would like to preview this document and discuss this document please email Mathew or Karen Lewis, the head marketing agents on the project for a copy of the document.
What are the utility bills like?
We have been recently been recognized by the Canadian Home Builder’s Association (Tommie Award) and FortisBC for Energy Efficiency in Home Design. All of our homes are Energuide Certified by an independent inspector. Average Utility Bills, Natural Gas and Electricity are between $75 and $90 per month. We are proud of our achievements of Energy Efficiency in our very affordable homes.
How much is Property Transfer Tax?
The homes at Gallagher Lake Village Park are EXEMPT from all Property Transfer Tax. No Property Transfer Tax is payable.
GST and some PST will be applicable on the purchase price. Contact the sales agent for more information on GST rebates/reductions and PST exemptions that apply specifically to you.
Is this a gated community?
No, this is not a gated community. You still want your friends, family and relatives coming for a visit, right?
Is the park a Strata?
Gallagher Lake Community Park is not a Strata at all. It is a lease of the land with services, so no Strata fees.
Lease includes: Sewer, Water, Street Maintenance, Street Snow Removal, Park Maintenance, Land Component of property taxes, Management and Rent.
Is there a Strata Council?
Gallagher Lake Village Park is not a strata development. As a result, it has no strata council. The development relies on a set of rules and regulations that are built into the lease that are deemed as ‘common sense rules’ to abide by in order to enjoy your life in the development. Every resident, before buying the development, will read, review and approve these rules to determine if the park is a good fit for them. Many of the residents in our park decided to buy here because of the absence of a strata council and some of the negative issues associated to them. The Residents of the Park do from time to time, form a park council when they wish to organize and assist the park owner in making decisions about the property. This may include rule changes, or common area landscaping decisions. The park owner is accessible by telephone during business hours, and therefore residents often just call with inquiries directly to the park manager and deal with him directly. As a resident at Gallagher Lake Village Park, you are provided with the direct contact information for the landowner and you are not required to undertake a formal meeting process to discuss items in the park with management. We like to think this development is a little different than others, and communication this way between all stakeholders has been a very effective method for enjoyable ownership for both the residents and the landowner.
How Much Are Annual Taxes?
Most residents OVER the age of 65 pay between $100 and $500 per year for property taxes when they take advantage of the BC Homeowner’s Grant Annual Rebates.
Most residents UNDER the age of 65 pay between $350 and $800 per year for property taxes when they take advantage of the BC Homeowner’s Grant Annual Rebates.
Annual Property taxes (Gross, before the BC Homeowner’s Grant are $1200-$2000 per year).
Speak to your Sales Agents to confirm eligibility.
What's Riverside Park?
Gallagher Lake Village Park is fortunate enough to be on the water’s edge of the Beautiful Okanagan River. We are currently building the Riverfront park which is accessible only by residents in the development. Maybe you would like a Lot on the River? We have lots available right now!
How long does it take you to build my new home?
Our ideal construction time period is approximately 8 months. We have, in the past, built homes in as little as 3 months from ordering. We can stretch out building times as late as 10 months to accommodate holidays and trips etc. We always try to have a selection of show homes, ready to go, and ready to be moved into. So if timing is a challenge for you, we do have other options in our show home inventory.
How much down is required to build my new home?
The homes at Gallagher Lake Village Park are built along the following building and payment schedule.
- 40% of the total purchase price is due upon the removal of all conditions of the sales contract (selection of finishing and pricing of Upgrades, lease approval, financing, legal advice). This is the first draw payment.
- 40% of the total purchase price is due upon the home being craned on and installed on the ICF foundation on the lot. This is the 2nd draw payment.
- 20% of the total purchase price is due on the completion date. This is the third and final draw payment.
Unfortunately, due to current building demand and uncertainty the construction company will not consider any offer that is subject to the sale of a home.
Existing (already built) show homes can be financed through Local Credit Unions and some National Banks with as little as 5% down.
Do you have Home Warranty?
Yes, home warranty is provided as standard in all of our homes. All homes come with a 1 year warranty on all finishing ‘bumper to bumper’ from the builder and a 10 year warranty from a 3rd party home warranty company, Pacific Pro Home Warranties for the structure and building envelope. The warranty, is of course, transferable.