Avoid unwelcome surprises when purchasing your next home by preparing for these additional home buying expenses.

Home Inspection 

While home inspections are optional, any good REALTOR® will encourage you to have one done before putting in an offer. This is an essential step if you hope to avoid costly repairs, maintenance or other home-related issues later on.

Estimated Cost: $200 – $500

Adjustments 

In short, adjustments are costs accumulated between your closing day and when you begin making your first payments. These might include interest charges and other prorated costs associated with utilities, fees or property taxes prepaid by the seller.

Estimated Cost: $400 – $700

Property Taxes

First-time buyers, especially, need to…

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Although selling your current home before buying your next one is an ideal scenario for most homeowners, things don’t always go as planned. Maybe you stumbled across your new dream home before you were ready to list your existing one. Or perhaps you’ve accepted a new job position that requires you to pack up and leave in a hurry.

Whatever the case, it IS possible to buy a new home before selling your old one. Here’s how:

HELOC 

Otherwise known as a Home Equity Line of Credit, a HELOC is a revolving line of credit secured against your home. In short, this allows you to put your existing home equity to work as a loan, accompanied by a set interest rate and monthly payments.

While homeowners opt for HELOC loans for a variety of reasons (i.e.…

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Are you thinking about selling your home? We’re talking to you! Find out everything you need to know about home evaluations and how they help you sell your home quickly and for top dollar!

What is a Home Evaluation Anyway? 

Contrary to your home’s assessed value, a home evaluation will give you an idea as to what your home is actually worth based on current market conditions (otherwise known as your home’s market value). Typically conducted by a qualified real estate professional, an evaluation will tell you how much buyers will be willing to pay for your home within a 30-90-day period.

Could My Home Be Worth More Than What I Paid?

Yes! Maybe.

As we mentioned above, your home’s market value depends on current conditions. In a seller’s…

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One of the best parts about living in Edmonton is the many winter-themed activities, events and attractions that make it such a “cool” place to live. If you’re looking for a few fun, affordable, family-friendly events to add to your calendar this season, here are a few ideas:

1. Snowshoe and Stargaze

When: Saturdays, December through February 15th

Marvel at the starry night sky as you snowshoe your way around Elk Island – one of Canada’s many revered national parks and conservation reserves. This one-of-a-kind experience takes visitors on a short, guided snowshoe hike with interactive interpretation of the constellations above. Fireside snacks and refreshments are provided at no extra charge. 

2. Experience the Deep Freeze 

When:…

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The New Year is just around the corner, and with it comes some great news for Edmonton home buyers. Here are five reasons why now is the right time to purchase a new Edmonton home:

1. Record-Low Home Prices 

According to a recent report released by the Canadian Real Estate Association, Edmonton’s benchmark home price has now reached the ultra-affordable low of $316,200. Having fallen 8.29% over the last several years, homes are now being sold at prices not seen since the buyer’s market of 2013 – where the benchmark price was only slightly less at $314,500.

Home buyers interested in detached single-family dwellings and townhomes can expect to see some particularly substantial savings compared to last year, with average prices dropping over…

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Gross Debt Service and Total Debt Service ratios are the two primary calculations lenders use during the loan application process. Together, these ratios play an integral role in determining your ability to qualify for a mortgage and how much home you can afford.

Here’s what you need to know:

GDS Ratios

Your GDS ratio refers to the percentage of your annual income needed to cover monthly housing costs – specifically your mortgage payment (principal and interest) as well as taxes, condo fees (50%, if applicable) and heating. As per the Canada Mortgage and Housing Corporation (CMHC), this percentage should be no higher than 35% when applying for a mortgage loan. 

How to Calculate Your GDS Ratio:

Your GDS ratio is the sum of your monthly…

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While downsizing offers countless benefits (the chance to save money and pursue your retirement dreams, for example), making the move to a smaller home can be altogether overwhelming. But it doesn’t have to be! Here are nine helpful tips to make your downsizing process easier:

1. Have a Plan

Reduce downsizing stress by planning ahead. Start by making a list of manageable goals with a commitment to stick to them – even if it’s as simple as tackling one drawer a day, over time, every little bit helps.

2. Start With the Obvious

Begin by clearing out the rooms you won’t have in your new home. Recreation or family rooms, additional bedrooms and bathrooms and home offices are all good places to start.

3. Practice the Rule of Three

…

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Think you might be ready to own your own home? Here are 8 ways to tell:

  1. You’re tired of paying someone else’s mortgage
  2. You long for freedom
  3. You’re down payment ready
  4. You’re in a good spot financially
  5. You’re ready to put down roots
  6. Your family is growing
  7. You’re not afraid of a little maintenance
  8. You’re comfortable with the home buying process

1. You’re Tired of Paying Someone Else’s Mortgage

While renting may have once been an affordable alternative to homeownership, you’ve come to realize it’s costing you more in the long run. Not only are you lining someone else’s pockets, but you’re denying yourself the opportunity to build wealth.

Why pay to improve someone else’s net worth when you could be boosting your…

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6 Reasons to Buy Your Home In a Bedroom Community Featured Image

Looking for affordable, amenity-friendly living with a small-town feel? A bedroom community may be exactly what you’ve been searching for! Neighbouring suburban towns and cities such as St. Albert, Spruce Grove, Stony Plain, Fort Saskatchewan, and many more, are seeing rapid increases in popularity thanks to the amazing benefits they have to offer.

Here are just a few of many great reasons to consider calling a bedroom community home:

1. Affordability

One of the first and best reasons to buy into a bedroom community is the home prices – and the potential to get more bang for your buck. For instance, say you’re in the market for a single-family home. Because prices in the surrounding areas can vary by (tens) of thousands of dollars (compared…

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Celebrate the season in Alberta’s famous “Winter City”. Here are just a few of the many fantastic holiday events Edmonton has to offer!

Curated. Holiday Market YEG

Curated’s Holiday Market is quickly becoming one of Edmonton’s favourite places to (Christmas) shop til’ you drop. The market features over 70 handmade vendors/curators (offering everything from art and jewelry to home décor and tasty treats), as well as live entertainment, on-site food trucks and prizes.

When: November 16th & 17th, 2019

St. Albert Indoor Christmas Market 

St. Albert’s Christmas Market is back for yet another season of great food, good fun and, of course, shopping! This year’s market will offer the homemade wares of over 75 vendors, every Saturday, starting…

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