Of course, you can’t believe everything you hear, especially regarding REALTORS® and one of the most significant transactions of your life. In fact, when it comes to your Edmonton home purchase or sale, it’s essential to separate fact from fiction if you hope to save money, time and stress in the process.

Here are our top 4 REALTOR® myths exposed.

1. You’ll Save Money If You Sell On Your Own 

While it’s true you COULD save by opting to sell your home without the help of an Edmonton REALTOR®; it’s a pretty risky undertaking. Here are just a few of the many reasons why selling on your own may cost you more in the long run:

Market Knowledge – If you hope to sell fast and for top dollar, you need to have a keen understanding of…

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When it comes to placing an offer, financial unpreparedness won’t just cost you time and money – it may cost you the home of your dreams. Be ready ahead of time with the help of these four essential steps.

Step 1: Decide on a Down Payment  

Chances are, you already know you need to have a down payment ready before putting in an offer. Of course, HOW MUCH you’ll need to put down will depend on the following:

What is the Average Listing Price?

Your down payment amount will vary depending on the style of home you’re interested in. For instance, in Edmonton, the 5% minimum for a single-family home vs. a duplex can differ by thousands of dollars. 

Are You Willing to Pay Mortgage Insurance? 

Mortgage insurance allows home buyers to…

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After enlisting the help of an expert Edmonton REALTOR®, it’s time to get your home ready for potential buyers. Our essential home-showing list of do’s and don’ts will tell you everything you need to know.

Don’t: Put Off the Inspection 

Be sure to have an inspection before putting your home on the market. Not only will this give you the opportunity to fix any noticeable issues (i.e. damaged siding or leaky plumbing), but it will allow you to maintain (or boost) your home’s value at sale time.

Do: Sale-Friendly Renovations 

Depending on the condition of your home, a few changes can go a long way – and they don’t have to cost an arm and a leg. A simple coat of paint and a few minor upgrades can make all the difference in selling your…

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In addition to less maintenance, lower utility bills and affordable mortgage payments, those considering downsizing also have a wealth of unique Edmonton home styles to choose from. In this article, we’ll cover the top-recommended property types for downsizers, their benefits and why they might be the right choice for you.

Apartment-Style Condos 

If your retirement dreams include escaping Edmonton’s harsh winters or travelling the world, an apartment-style condo may be the way to go. Ideal for those seeking a “lock it and leave it” lifestyle, this type of home is about as low maintenance as you can get (not to mention, very affordable). But don’t let the word “apartment” fool you, these units come in a variety of sizes and shapes, offering you…

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From little trick or treaters to adult-sized thrill-seekers, Edmonton hosts a wide range of Halloween-related events for boys and ghouls of all ages.

Little Scares (All Ages)

Haunted Pumpkin Festival

The Haunted Pumpkin Festival is one of the most popular Halloween events in the capital region. Every year, the folks at Prairie Gardens Adventure Farm put on a month-long Spooktacular – featuring everything from pumpkin cannons and haunted houses (no gore) to hayrides and corn mazes.

When: Every weekend throughout October

Imax Theatre Costume Party 

All aboard! Join Dracula and the rest of the gang for the ultimate cruise and costume party! Held at the Telus World of Science, this all-morning event features an optional hot breakfast,…

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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 potential…

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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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As a home buyer, you’ll inevitably have to decide between committing to a fixed rate or variable mortgage loan. While both have their benefits as well as their drawbacks, one will likely be better than the other depending on your unique situation (i.e. lifestyle, finances, risk and reward tolerance etc.). Here’s what you need to know:

Variable Rate Mortgages 

A variable interest mortgage (sometimes referred to as an adjustable-rate mortgage) is a form of home loan in which the interest rate “varies” according to current market conditions. In this situation, the lender will offer you a loan at Prime rate (the interest rate set forth by the Bank of Canada) plus or minus a certain percentage.

For instance, if Prime is 3.00% and you opt for a…

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