Exciting Updates for First-Time Home Buyers: Extended Amortization & Higher RRSP Limits Featured Image

Are you a first-time home buyer dreaming of stepping into your own home? The Canadian government has just rolled out two major updates that could transform your home-buying journey: extended amortization periods for newly built homes and significantly higher RRSP withdrawal limits. These changes aim to make homeownership more attainable and affordable for Canadians starting August 1. Let’s dive into what these updates mean for you and how they can help you secure your dream home.

What's in this Blog?

In this detailed guide, we'll explore:

  • The benefits of the new 30-year amortization periods for insured mortgages.
  • How the increased RRSP withdrawal limits can boost your home-buying budget.
  • Insights from officials on how these…

90 Views, 0 Comments

Finding the Perfect Time to Buy a Home in Edmonton: A Comprehensive Guide Featured Image

Purchasing a home is one of the most significant financial decisions you’ll ever make. While there’s no one-size-fits-all approach to buying a home at the perfect time, there are several factors you’ll want to consider to help you make an informed decision.

Your Financial Circumstances

Buying a home is an exciting milestone, and your finances play a crucial role in determining the right timing for such a large investment.

Savings and Down Payment:

Having sufficient savings for a down payment is essential when purchasing a home. 5% is the minimum down payment required in Canada, with all down payments of less than 20% subject to mortgage insurance. Keep in mind, the more you put down, the lower your monthly mortgage payments and the better…

744 Views, 0 Comments

The Terry Paranych Real Estate Group Ultimate Home Viewing Guide Featured Image

Searching for your dream home can be an exciting but overwhelming experience. With so many factors to consider, gathering all the necessary information when viewing a property is crucial. To help you make an informed decision, we’ve put together this handy guide outlining what questions to ask when considering a home, red flags to watch out for, how to negotiate effectively and how to find the perfect REALTOR® for your new home needs. 

Let’s dive in!

Questions to Ask When Viewing a Home

By asking the right questions, you'll gain valuable insights into the property whether or not it will meet your wants and needs. Here are a few questions to ask to make a well-informed purchase.

How long has the property been on the market?

Knowing the…

1066 Views, 0 Comments

How to Avoid Paying Too Much for a Home: Our Top Tips for Home Buyers Featured Image

Buying a home is one of the most significant investments most of us will ever make. The good news is there are several useful tips and strategies buyers can use to help stretch their budget and avoid overspending. From establishing your wants and needs to choosing the right REALTOR® and negotiating with sellers, here are our top 10 tips for avoiding paying too much when buying a home.

Tip 1: Establish Your Wants and Needs

If you’re trying to save money, it’s important to determine your wants and needs before buying a home. If you don't know what you’re looking for, you’re more likely to make impulsive decisions and spend unnecessary money on your purchase.

Another reason to establish your wants and needs is to avoid expensive renovations and…

1743 Views, 0 Comments

Top Moving Tips from The Terry Paranych Real Estate Group Featured Image

Whether you’re moving across town or the country, our expert tips will help simplify the process.

Download a Moving Checklist 

Moving checklists are a handy tool for planning ahead, reducing stress and keeping your move on track. They also ensure you remember important details, stay organized and plan your upcoming move quickly and efficiently.

Decide if You’ll Hire Movers 

There are pros and cons when it comes to hiring movers. On one hand, relying on friends and family is a great way to save on moving costs. On the other, movers will help you save time and stress on move day. If you do decide to hire movers, we recommend getting at least three quotes and booking well in advance to secure your desired move date.

Cut the Clutter 

660 Views, 0 Comments

Thanks to their affordability and versatility, “mobile” or manufactured homes are becoming an increasingly popular choice among Edmonton home buyers. Whether you’re a first-time buyer, downsizer, a growing family (or you fall somewhere in between), these prefabricated structures are a great choice for any age, lifestyle and budget.

But that’s not all.

Here are eight benefits of living in a manufactured home:

Affordable Homeownership

As we mentioned above, manufactured homes are highly affordable – giving Edmonton home buyers the chance to own their own homes at a fraction of the cost of a traditional site-built home. According to experts, the average 1,800 square foot manufactured home costs around $180,000 to $360,000 to build (or…

1048 Views, 0 Comments

How to Avoid Paying Too Much For a Home in Edmonton Featured Image

Finding the right home is challenging enough, but knowing it’s one of the largest purchases you’ll ever make can be nothing short of overwhelming. The good news is, there are steps you can take to find both your dream home AND save money at the same time. 

Here are our top tips to avoid paying too much for a home in Edmonton:  

Tip 1. Establish Your Wants and Needs

When purchasing a home, buyers must often choose between features they’d like to have vs. features they actually need. For example, should you choose the two-storey home with more than enough space for your growing family, or the quaint bungalow with the backyard perfect for entertaining? Is a chef-inspired kitchen more important than a home office? Is a finished basement a…

499 Views, 0 Comments

Edmonton Ranked the Most Affordable Major City in Canada Featured Image

City of Champions, Winter City, Festival City and Oil Capital of Canada are just a few of many distinctions Edmonton has picked up over the years. Recently, Alberta’s capital has earned another title: the most affordable major city in Canada. 

A recent study has revealed despite any ups and downs, the Edmonton real estate market is better than it’s been in years. In reviewing numbers from 2007 (before the real estate crash of the following year), experts have determined homes are only slightly more expensive now (2022) than they were then - with average prices compared at $361,000 and $350,000 respectively.

Though interest rates are also slightly higher than they were in 2007 (in the 6% range), average annual household incomes have leapt from…

1189 Views, 0 Comments

The Benefits of Choosing a Semi Detached Duplex Home in Edmonton

From growing families and first-time buyers to downsizers and working professionals, Edmonton duplexes are ideal for every taste, lifestyle and budget. In addition, these spacious semi-detached homes offer many of the same benefits as the average single-family property, less the price tag and maintenance.

Here are just a few of the many benefits that come with owning a duplex in Edmonton:

Duplex Living Defined

In short, duplexes are multi-family homes containing two units in the same building. Duplexes are commonly side-by-side, but they may consist of two floors with separate entrances. Unlike a townhome or apartment-style condo, duplexes share only one common wall with the neighbouring unit, giving them more of a “single-family home feel.”

611 Views, 0 Comments

The Benefits of Choosing a Luxury Home in Edmonton

From high-rise penthouses overlooking downtown to sprawling estate properties along city outskirts, Edmonton’s luxury market has something to offer every discerning buyer. Edmonton’s upper-scale homes are also considered some of the most sought-after properties in Alberta, thanks to our broad selection of luxury communities and the exclusive amenities they provide.

And that’s just the start.

Here are a few key benefits to look forward to when purchasing a luxury home in Edmonton.

Luxury Home Living Defined

The definition of luxury living will vary from person to person. For a growing family, luxury living may mean ample square footage, multiple bedrooms and bathrooms and dedicated recreation spaces (i.e. family rooms, oversized yards, game…

1186 Views, 0 Comments