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.

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.

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.

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.

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.

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.

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.

The FORMULA FOR PARTIAL REFUND: 

Refund Amount = Purchase Price x (Baseline Index Value-Comparison Index Value) / Baseline Index Value.

Here’s a simplified example:

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.

Yes. Refunds are not automatic. If you think you qualify for a refund, simply email sales@gohighstreet.ca with your full name and the address of the home you purchased and a member of the team will review you request.

If you believe you may be entitled to a partial refund, you must send your written notice by email to sales@gohighstreet.ca

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.

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.

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.

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.