While it’s hard to assess the true condition of a home without the help of a licensed REALTOR® and professional inspection, there are a few tell-tale problems to watch out for.

Be on the lookout for any of the following: 

1. A Run-Down Roof

2. Leaky Business 

3. A Sense of Smell

4. Extreme Temperatures

5. Sketchy Structure

6. A Long History 

7. “Cover-Ups”

1. A Run-Down Roof

Missing or warped shingles, sagging and deterioration around roof extremities (such as vents or chimneys) are indications of poor maintenance. Even if you don’t see signs of distress, be sure to ask the current owner when the roof was last repaired or replaced.  

2. Leaky Business 

A poorly maintained roof is one of the first signs of…

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Confused about closing costs? We’ve got you covered. From insurance costs to legal fees, here’s what you need to know.

What Are Closing Costs? 

In short, closing costs are additional (generally one-time) costs and fees a buyer is required to pay upon completing a home purchase. While the exact total will vary depending on the property type, experts recommend setting aside at least one to three percent of a home’s overall sale price.

What Do They Cover? 

Closing costs may include (but aren’t limited to): 

Land Transfer Tax

Land title transfer tax is a mandatory fee paid by the buyer when property ownership is transferred (to the buyer) by the seller. Land title transfer fees in Alberta are based on both the size of your mortgage…

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If you’ve been dreaming about buying your first home but can’t seem to come up with enough cash, these first-time buyer programs may be the answer.

Home Buyers’ Plan

The Home Buyer’s Plan (HBP) allows first-time buyers (or anyone who hasn’t purchased a home in the last four years) borrow up to $35,000 from their RRSPs to put towards a down payment. The same applies to partners and spouses (for a total of $70,000), with the same four-year clause.

Details:

  • The qualifying home must be your primary residence
  • When applying for the HBP, you must provide a written agreement to purchase (or build)
  • RRSP funds must be available 90 days before purchase
  • Withdrawals under the HBP are tax-free but must be paid back in full within 15…

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Of course, buying a home in Edmonton during the spring (or early summer) certainly has its perks. After all, it’s the most popular time of year for real estate. BUT, did you know for every good reason to buy in the spring, there’s an equally GREAT incentive to buy in the fall?

Here are a few things to consider:

1. Less Competition

One of the first (and best) reasons to consider buying in the fall is the lack of competition. As Edmonton’s hot weather tapers off, so does the real estate market. Because many homebuyers have already opted to purchase earlier in the year, there will be less buyer-based competition for you to worry about.

2. Taking Your Time

Less competition also results in less pressure to run out and buy the first…

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