5 Year Price Protection
OWN With Confidence. 5-Year Price Protection on Move-In Ready Condos at Ascent
There’s ‘OWN’ly An Upside.
Why We’re Doing It?
Highstreet invests in, and believes in Kelowna’s future. This promise reflects how we build, price, and invest in Kelowna, long-term. Historically, home buyers in Kelowna win. But you won’t win by sitting on the fence, waiting-and-seeing what might happen to the market over the next few months.
Buyers want certainty in an uncertain market.
We already offer Kelowna’s best-value condos
We’re confident enough to stand behind that value
There’s ‘OWN’ly an Upside when you buy at Ascent
What Is Price Protection?
When you buy at Ascent during this Limited Time Price Protection Promotion, the value of your condo is protected for FIVE YEARS. If the market fluctuates down, you’re protected. Highstreet will reimburse you the difference. If it rises, you benefit. Either way, you buy now with confidence, not crossed fingers.
Price Protection - How It Works
Buy with confidence. There’s ‘OWN’ly an Upside.
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1. TODAY
At time of purchase, you will be given the Baseline Index Value based on the Teranet-National Bank House Price Index for Kelowna, BC. This is a national organization analyzing real estate and serves as your condo’s baseline market indicator.
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2. IN FIVE YEARS
At the five-year anniversary of your purchase, you (the buyer) determine whether you may be eligible for a partial refund by reviewing the Index Value, based on the Teranet-National Bank House Price Index for Kelowna, BC. If you believe you are entitled to a partial refund, you must send notice to sales@gohighstreet.ca. Highstreet will confirm that the Comparison Index Value.
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3. VALUE RISE
Congratulations! You’ve just experienced the “Upside” of buying at Ascent. You’ve gained a rise in equity of your condo purchase. If the Comparison Index Value on the Anniversary date is equal to, or higher than the Baseline Index Value, the buyer is not entitled to a partial refund.
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4. PARTIAL REFUND
Here’s another “Upside” of buying at Ascent. If the Comparison Index Value on the Anniversary Date is lower than the Baseline Index Value, the buyer shall be entitled to a partial refund calculated as follows:
Refund Amount = Purchase Price x (Baseline Index Value-Comparison Index Value) / Baseline Index Value.
There’s ‘OWN’ly An Upside When You Buy Now at Ascent
Example 1:
If the Baseline Index Value is 300 at purchase and the Comparison Index Value is 290 at your 5-year Anniversary, the resulting decline is 3.33% (300-290/300 = 3.33%). If the Purchase price was $500,000, the Refund Amount Payable would be $16,650 ($500,000 x 0.033).
Example 2:
If the Baseline Index Value is 300 at purchase and the Comparison Index Value is 300+ or higher at your 5-year Anniversary, there will be no partial refund issued. Congratulations, you bought at a great time and you’ve gained valuable equity in your home.
Visit The Sales Centre To Learn More
The Ascent Sales Centre is Open for Walk-Ins Sat & Sun 12-3pm or by Appointment.
Book a Private Appointment HERE or call 778-200-5576
Your Questions, Answered
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It’s a five-year price protection program that allows you to buy now with confidence. If Kelowna market values decline over that time, you may be entitled to a partial refund. If the market rises or stays the same, you benefit from your rise in home equity.
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This is not a sales gimmick. It’s based on Highstreet’s belief that we provide the best value new condos in Kelowna. We believe in our pricing, our homes, and the long-term strength of Kelowna. This promise removes buyer hesitation and gives buyers confidence to move forward today.
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The program uses the Teranet–National Bank House Price Index for Kelowna, BC, a trusted third-party index that reflects overall market trends. The same index is used at purchase and again at the five-year mark.
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The Baseline Index Value is the Kelowna market index established at the time you purchase your home. It becomes the reference point used to measure market movement over the five-year period.
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At the five-year anniversary of your purchase, you (the buyer) determine whether you may be eligible for a partial refund by reviewing the Kelowna index.
If you believe you may be eligible, you submit a Partial Refund Notice to Highstreet. Highstreet will then review the index values, apply the formula, and confirm whether a refund is payable and the amount. -
If the Comparison Index Value is equal to or higher than your Baseline Index Value, no refund applies. You benefit from the increase in your home’s equity.
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If the Comparison Index Value is lower than your Baseline Index Value, you may be entitled to a partial refund, calculated based on the percentage decline in the index and your original purchase price.
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The refund is calculated using a formula that compares the Baseline Index Value to the Comparison Index Value and applies the difference proportionally to your purchase price.
A simplified example is shown above for clarity. -
Yes. Refunds are not automatic. If you believe you may be eligible, you must submit a Partial Refund Notice for Highstreet to review.
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If you believe you may be entitled to a partial refund, you must send your written notice by email to sales@gohighstreet.ca
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Highstreet will confirm the Baseline Index Value and Comparison Index Value, apply the refund formula, and determine whether you are eligible for a refund.
If a refund is payable, it will be issued within the timelines set out in the addendum. -
If you sell your home before the five-year anniversary, the Price Protection Promise ends at the time of sale. No refund applies, and the program does not transfer to the new buyer. Any equity gained during your ownership remains yours.
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No. The program applies only to the original purchaser and is non-transferable. If the contract is assigned or the home is sold, the Price Protection Promise is void.
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No. The index reflects overall Kelowna market trends only and does not predict or guarantee resale value. Your home’s future sale price can depend on a variety of factors including market conditions, location, condition, and buyer demand at the time of sale.
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No ongoing action is required. Buyers are responsible only for submitting a Partial Refund Notice if they believe they are eligible at the five-year mark.
We get it, you’ve not seen a Price Protection Promise on real estate before, so you’re bound to have questions. Our Team would love to help. Give us a call at 778-200-5576.
There’s More Upsides to Buying At Ascent….
Size Matters. Get More At Ascent
We Dare You To Compare!
Studios | approx. 406 sqft, 1 parking stall, starting from $184,900
1 Bed, 1 Bath | approx. 659 sqft, 1 parking stall, starting from $399,900
2 Bed, 2 Bath | approx. 960-1,101 sqft, 1 or 2 parking stalls, starting from $499,900
3 Bed, 3 Bath | approx. 1.114-1,708 sqft, 2 parking stalls, starting from $679,900
All remaining homes in Alpha & Bravo include ONE Parking stall, while some two bedrooms and all three bedrooms include TWO Parking stalls.
*prices subject to changeIt Pays To Buy New.
More Ways To Save On Your New Home
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2.99% Interest
Ascent’s Exclusive, Limited Time Mortgage Rate Saves You Money. Conditions Apply.
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Property Transfer Tax Exemption
Big savings vs re-sale homes. Conditions Apply.
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No GST For First Time Buyers
GST Rebate on New-Builds for First Time Buyers. Plus - Ascent Exclusive - We’ll Wait on The Rebate So You Don’t Have to. (conditions apply)
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CMHC ECO Rebate
Green is our favourite colour! Buy NEW at Ascent & Save
Discover the Upside of Owning at Ascent
Learn More About Ascent. Register to be a HIGHSTREET ASCENT VIP. As a priority registrant you will be the first to receive information, updates and special offers.
Buy with confidence.